to its production could not utilized full capacity effecting to decrease in gross profit. (4) Dividend income The Company received dividend from Millcon Steel Public Company Limited at the rate Baht of

production, we mainly export the Rubber wood to China have impacted as well. At the same time although the Company had lower revenue from sales but the Company had a decrease in expenses of 106.93 million Baht

quarter of 2018. Moreover, the Company also paid more in interest expenses from trust receipts contracts for importing raw materials for production that were done since late of 2017. 4. Net Profit For the

quarter of 2020 is equal to 8 percent due to affiliated company. There has been an increase in hiring of labor to increase production capacity to meet the project’s deadline. 3. The Group had selling and

unit cost following the Company’s higher capacity utilization to cater to larger production volume which helped pull down certain fixed production cost. 3. Selling expenses In Q1/2018, the Company

Company had a order to be used for the production of raw material to customers increased. - Investment in associated company increased for Baht 4.43 million, occurring from realizing of profit sharing in

year 2022, cause some time the realized cost CPO used in production was higher than the Company’s product selling price approximately 8.00-10.00 Baht per Kilogram and the Company had to recognized loss

pursue its business strategy, the Company operates commercial solar farms in Thailand and Japan with total production capacity of 50 megawatts. The Company would like to announce the operating results for

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the first quarter ended March 31st, 2018 Management Discussion and Analysis of Business

production, as its specification is similar to the natural wood, at a lower price, and there are not yet substituted products. Page 8 3) This project that the Company will invest in is the assets which