Limited Q4’18 and FY18 Management Discussion & Analysis 27 February 2019 Q4’18 and 2018 Management Discussion & Analysis Page 3/7 The success of our small brands with herbal benefits help stabilizing

overhead costs, which help to maintain production cost as low as possible. The Company is still profitable regularly because there is no risk of fluctuations in the price of CPO. 2.1 The ratio of the cost of

of cost of refining service to revenue was increased by 0.40% in the 1st quarter of 2019 from the 1st quarter of 2018. The refining service’s volumes also share the Company’s overhead costs, which help

Company for fully subscribing the Right-Offering of THB 1,502.67 million. This funding amount will help in reducing financial costs and providing additional working capital for production. Overview of World

distribution channels of the Company’s products. The target captive areas will be offices, factories and schools. This investment would create synergies from the expertise of both companies help growing the

response will help us connect more effectively with over 40 million people wherever they are. In addition, our Board of Directors has approved a 23% investment in Kerry Express (Thailand) Limited4, the

newly issued shares which offering to the specific investor on a private placement basis and has a strong financial status. Therefore, this capital increase will help to support the Company’s financial

1.2% QoQ to stay at Bt610 despite elevated pricing competition. CSL was delisted and will help capture growth in enterprise. The acquisition of CSL has completed with AWN successfully bought 98.96% of

the 2nd quarter of 2018 to 2017. The refining service’s volumes also share the Company’s overhead costs, which help to maintain production cost as low as possible. Which the company is still profitable

developing consumer products to sell in D&D stores and other distribution channels to help the Company generate more revenues. In the future, the company plans to focus on low-cost investment and maximize