Microsoft Word - ACE MDA Q419 - ENG - Final 1 No. ACE-ACC-1/2020 24 February 2020 Subject Management Discussion and Analysis for the year ended 31 December 2019 To President The Stock Exchange of
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prepared the production of B100 to follow the new standard of Monoglyceride content not exceeding 0.4%. Together with ability to efficiently manage raw material cost, gross profit was improved from the
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