the revenue. Yes, for the same period in the previous year Due to the decline in shipping volume of automotive parts and Solar Panel customers, and the customers who use ocean freight services, the

31.54 million from 2017. The selling expenses such as shipping fees also dropped in the same line with the decreased in sales in the period. However, during the year, the Company has financial advisory

as the Company has more effective policy to collect debts. Furthermore, the selling expenses such as shipping fees dropped in the same line with the decreased in sales in the period. The loss on

IP: INTER PHARMA PUBLIC COMPANY LIMITED L&E: LIGHTING & EQUIPMENT PUBLIC COMPANY LIMITED PAP: PACIFIC PIPE PUBLIC COMPANY LIMITED PRINC: PRINCIPAL CAPITAL PUBLIC COMPANY LIMITED PSL: PRECIOUS SHIPPING

per ton (YoY) in an otherwise strong season. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in IVL’s core earn- ings follows on from IVL’s consistent strategy of prudent

earnings im- pact from the seasonal maintenances. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in core earnings follows on from IVL’s strategy of prudent invest- ments in the higher

to speculate on the exchange rate but continues its prudent policy in the full hedging on net position of each currency’s exposure to minimize potential impact from exchange rate fluctuation. Source

once again in 2019. However, the company has no policy to speculate on the exchange rate but continues its prudent policy in the full hedging on net position of each currency’s exposure to minimize

mall and become a convenient gathering for customers. Prudent Financial Management and Funding Strategy In 2017, CPN’s average cost of fund stood at 2.81%, lower than the previous year at 3.23

exchange rates. KBank hence prioritized effective risk management in order to cope with economic uncertainties both at home and abroad. We adopted a prudent credit policy, accounting for customer potential