. This was considered an obstacle for distribution channels of the Company’s customers as they had to postpone their purchase orders of the Company’s products. Moreover, During the year, Thailand tourism

277.8 (138.9) (33.3%) Gross Profit 281.9 166.0 (115.9) (41.1%) Gross Profit Margin 67.7% 59.8% GPM before adjustment with PPA 68.8% 60.6% Rental and service income from warehouses, distribution centers

increasing distribution nergy throug sale perform uarter of 2017 collection an percent. Whi 853.4 million subsidiaries the subsidi financial insti 016 Ch MB 4.2 67.6 7.2 33.4 3.8 448.3 9.1 39.7 4.7 13.4 6.4

cross-border ___________________________________ Total ___________________________________ As at (date) __________________________ Part C: Distribution of ARFP Passport Fund and CIS Operator’s Local

company is allowed to advertise, except for the advertising made pursuant to Chapter 2 which must be approved by the Office prior to distribution. (UNOFFICIAL TRANSLATION) 3 Clause 5. To advertise, in any

which must be approved by the Office prior to distribution. (UNOFFICIAL TRANSLATION) 3 Clause 5. To advertise, in any cases, the securities company shall comply with Advertising Rules as prescribed under

with PPA 57.3% 7.7% 1. Rental and Service Income  Rental and service income from warehouses, distribution centers and factories during the first quarter of 2019 was THB 275.9 mm, which increased by THB

mixed commercial project such as distribution center, industrial zone and warehouse, in order to make the connection support between each business sectors, and utilize the area for the highest efficiency

in the country in April. This significantly limited distribution channels for the Company’s customers and they delayed their purchase orders of the Company’s products. Consequently, domestic sales fell

market in the country last April. This caused problems for distribution channels of the Company’s customers, as they had to postpone their purchase orders of the Company’s products. As result, domestic