Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in the Third Quarter of 2018 1 1.2 Banking Industry and Competition 2 1.3 Significant Regulations and Rules related to

institution, enabling us to cope with possible economic fluctuations in a timely manner. C Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2017 and

policies of major countries and the Baht’s ongoing appreciation. However, the Thai economy has been supported by the expansion of private consumption, due to an increase in auto sales in the first half of

Cash Flows Statement Accounting Business Performance Executive Summary Statement of Income 23 of Financial Position Environment Management 3 Financial Ratios 28 Executive management’s prospects to

6661 Fax: +662 661 6664 1 2019 IVL Performance Summary IVL registered volume growth of 18% in 2019 driven mainly by inorganic expansion. Industry-wide spreads declined to historical lows in 2019, leading

. Overall market environment During the second quarter of 2019, the growth momentum for the Thai economy slowed down from both the domestic and external demand. Private investment contracted both in

environment During the second quarter of 2019, the growth momentum for the Thai economy slowed down from both the domestic and external demand. Private investment contracted both in investment in construction

. Governing law Thai law 7. Approved the expansion of the flexible packaging business in the amount of Baht 75 million, comprising the construction of a factory warehouse at Baht 35 million and the purchase of

Earth Tech Environment Public Company Limited 11th November 2020 Subject Management Discussion and Analysis Financial Performance for the quarter ended 30th September 2020 To President The Stock

to the year of 1,586 Million Baht. This was due to a challenging US retail environment higher food costs, changing product mix and 2017 carry over benefit of USD $700K from Japan perpetual license deal