4.3% YoY to THB 1,462mn mainly due to the expansion of hotel business through new hotels launch, through new acquisitions and the contribution from acquired assets under the Entire Business Transfer of

by 29.8% YoY to THB 2,233mn mainly from the expansion of the hotel business through new hotel launches and through new acquisitions • EBITDA and EBITDA margin were THB 509mn and 22.8% respectively

per share within the agreed period). The investment allows the Company to send the representatives to be the director in GS of 3 persons from 5 persons to help the Company to control the business

products suitable for Thai consumers in Thailand. In general, the personal care business has a higher profitability than the beverage business. Therefore, the new business is expected to improve the

Translation (Translation) PAGE (Translation) -9- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC

company recognized profit of THB 46 million from investments in the Thai Ethoxylate Company Limited (TEX) which produces Fatty Alcohol Ethoxylate (Derivative Product of FA). Lastly, the company had gotten

by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has

Notification of the Office of the Securities and Exchange Commission (Translation) (Translation) - 8 - Readers should be aware that only the original Thai text has legal force and that this English

only the original Thai text has legal force and that this English translation is strictly for reference. The SEC, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any

revenue was higher than industry growth (in terms of production volume) of 6.1% due to the following reasons: 1) Automotive Parts Business; Higher order, new model launch which started in Q3 last year, new