the extended deadline because the new financial advisor whom PACE has appointed to appraise the fair value measurement of the investment is still gathering and analyzing data and information from many

sales and services to the international sales and services in 2017 is 81.0 percent to 9.6 percent respectively. -2- Revenues Classified by Distribution Channels 3 Months in 2018 3 Months in 2017 Variation

that affected the gross profit margin variation, there were the revenues and expenses variation as follows; Net profit increased from the same quarter of last year due to the gross profit increased

he obliged under any binding document to sell such assets to repay his debts. Moreover, it appears that NIPPON did not check the existence of such assets or appraise the value in consideration of the

, causing IFA unable to appraise the project value; (4) various risks associated with the acquisition of APU shares such as risk of fines payment to Myanmar government due to delay started of the project from

. Revenues Classified by Distribution Channels 12 Months in 2017 12 Months in 2016 Variation THB % Domestic Restaurant and Bakery Business 6,098 5,969 130 2.2 Food and Bakery Wholesales Business 762 817 (55

percent to 11.2 percent respectively. Revenues Classified by Distribution Channels 12 Months in 2017 12 Months in 2016 Variation THB % Domestic Restaurant and Bakery Business 6,098 5,969 130 2.2 Food and

products. -2- Revenues Classified by Distribution Channels 12 Months 2018 12 Months 2017 Variation THB % Domestic Restaurant and Bakery Business 6,184 6,098 86 1.4 Food and Bakery Wholesales Business 773 762

1/2 L-WAVE ENT 20/2020 15 May 2020 Subject : Management’s Discussion and Analysis for the first quarter 2020 operating results with variation greater than 20% compared to the same period of 2019 To

and the PPA remain unclear and uncertain while additional investment of 7,850 million baht is needed, causing IFA unable to appraise the project value; (3) various risks associated with the transaction