Q1-2017 (THB 18,695/ton) due to the decrease in HRC market price worldwide and a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. Management’s Discussion

flooding in various areas. Also, there was an intense competition in the industrial market. While sales volume of the retail market was slightly lower, consequently due to the seasonal factor which had lower

production reduction period by 9 months to the end of December 2018. The market received pressure from the tension in the Middle East due to the conflict between Saudi Arabia and Iran over concerns of war in

Fatty Alcohols (FA) market, in 1Q2018, it was better than 1Q2017, as Natural FA price was being more competitive to Synthetic FA price. This was mainly due to softer CPKO prices. From above reasons, GGC

production to capture the market which resulted in higher sales volume than both quarter 2/2017 and quarter 3/2016. Global Green Chemicals Public Company Limited Management’s Discussion and Analysis | 3 Due to

global economy due to financial market tightening and macroeconomic headwinds which created contraction risks, especially for Thai export sectors. Nonetheless, private consumption showed a sign of

prepaid commission, offset by higher costs of content. SG&A expenses were Bt6,336mn increasing 17% YoY from higher marketing expenses and staff cost but flat QoQ due to softened market expenses. • Marketing

than the selling prices due to the market price of products was decreased continuously but the sales contract has been made in advanced. 2. Cost of Refining Service There was no Refining Service

to also contract to 1.0%1. For 2020/21, we expect to see negative impact on our Advertising business both in domestic and international market due to the soft demand from advertisers. System

market as competitors re-assigned volumes due to the weak export market and strong Thai baht. Although volumes were behind forecasts revenue per tonne has increased compared to 2018. On the costs side SG&A