foreign exchange, the net loss from operations this year was 25.45 million baht while it was 22.89 million baht last year. The loss from operating is a result the declining global trade. Besides, two

margin was 0.94 % of Revenue from sale and service, decreased from last year that gross profit margin was 4.33%. This is result from the world steel price in declining trend from same period of last year

compared to the prior year. It resulted from the decreasing of gross profit margin, followed the declining of revenues. Net profit margin to total revenues was at 6.1%. Revenues The structure of revenues for

covers the banks? tendency to receive financial support from the government when necessary.

palm oil price continuously declining, the business recorded an Inventory Loss of THB 80 million. Further, the Selling, General and Administrative expense increased from the same period of the previous

margin was declined from the higher raw material price. The Denatured Ethanol Business saw performance improved from last year following the amalgamation, however gross profit was affected by the declining

referenced crude oil price of every products; stemming from a state of excess supplies of finished products in the market, and declining demand from the 4 Management Discussion and Analysis of Business

and continuous declining global economy and the greater range of fluctuation that had a strong effect to maritime industry. Please be informed accordingly. Yours sincerely, Chanet Phenjati President

. The net loss decreased 39.85% The loss from operation was due to the long and continuous declining global economy and the greater range of fluctuation that had a strong effect to maritime industry

net operating loss is equivalent to 15.82% The loss was due to the declining global economy and the greater range of fluctuation that had a strong effect to maritime industry. However, the loss