Debt to Equity improved from 0.25 to 0.18 times as a result of lower debt and lower equity. Shareholders' Equity As of December 31, 2019, Shareholders' Equity totaled Bt11,762 million, a decrease of

debt ratio stemming from increased loans and lower shareholder equity, the ratio was nonetheless at comfortably low level. The interest coverage ratio (EBITDA / finance costs) decreased to 53.7x from

higher than the PFA’s assessed fair value of 359 million baht and the internal rate of return (IRR) is lower than OTO’s cost of equity and cost of capital. Moreover, the proposed investment of 150 million

the financial risk perspective, despite the higher debt ratio stemming from increased loans and lower shareholder equity, the ratio was nonetheless at relatively low level. The interest coverage ratio

increase of the aforementioned liabilities whereas the increase of debt to equity ratio was lower. Shareholders’ Equity As ended September 30, 2018, the shareholders’ equity of the company and subsidiaries

operations and as the Company repaid the long-term loan in advance. As of 30 June 2017, Net Interest-bearing Debt to Equity improved from 0.45 to 0.37 times as a result of lower debts and higher equity

advance. As of 30 September, 2017, Net Interest-bearing Debt to Equity improved from 0.45 to 0.39 times as a result of lower debts and higher equity. Shareholders' Equity As of 30 September, 2017

flow from operations and as the Company repaid the long-term loan in advance. As of March 31, 2018, Net Interest-bearing Debt to Equity improved from 0.31 to 0.25 times as a result of lower debts and

. As of December 31, 2017, Net Interest-bearing Debt to Equity improved from 0.45 to 0.31 times as a result of lower debts and higher equity. Shareholders' Equity As of December 31, 2017, shareholders

to 0.25 times as a result of lower debt and higher equity. Shareholders' Equity As of December 31, 2018, Shareholders' Equity totaled Bt12,007 million, an increase of Bt733 million, due mainly to