MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2019 7 9. KEY FINANCIAL RATIOS Key Financial Ratios As of 30 Sep 2019 As of 30 Sep 2018 Liquidity Ratio Current ratio (time) 0.45 0.41 Profitability Ratio 1) Gross

year 2018. Consequently, book value as of November 30, 2019 was 79.6 baht per share, increased from 72.2 baht per share as of February 28, 2019. Debt to Equity ratio as of November 30, 2019 at 3.7 times

accordingly (for year 2016: sale volumes and production volumes at 187,043 tons and 189,008 tons in accordingly) - Gain from debt restructuring was achieved of THB 110 million resulting from debt-to- equity

contracting since the year 2014. For asset quality, the Non-Performing Loans (NPLs) to total loans ratio at the end of 1Q18 declined to 4.7% from 5.0% at the end of 2017. On Special 3 Asset Management business

-to-income ratio excluding loss from sale of foreclosed assets and loss from revaluations stood at 47.8% for 1Q18 comparing to 47.2% yoy. Bad debts and doubtful accounts and loss on debt restructuring

the parent as of November 30, 2022 was 87.03 baht per share, increased from 79.55 baht per share as of February 28, 2022. Debt to Equity ratio as of November 30, 2022 was at 3.3 times decreased from 3.5

Holder, the Company is required to maintain the Net Debt to Equity ratio at the rate of not more than 2.5: 1 at the end of the quarter and year end period. In which the Company held the meeting of

macroeconomic factors and also set additional management overlay in the previous quarter. The consolidated non-performing loan ratio was 4.51% and the Company’s non-performing loan ratio was 4.28% of total

(Current portion) 106 93 Long term debt (Non-current portion) 1,399 1,083 Debentures (Non-current portion) 2,121 1,806 Cash & Cash under management 359 165 Cash and cash equivalents 356 172 Current

Baht 7,338.8 million at the end of 2017, presenting the Net Interest-bearing Debt-to-Equity ratio of 0.64x. As a result, our 3Q2018 EBITDA stood at Baht 780.5 million, compared to Baht 722.8 million in