1,848per ton in 2017. Management’s Discussion and Analysis (MD&A) for year 2017 2 As the result of EGM holding on 30 August 2017, the shareholders voted down the Debt Equity conversion. On 13 November 2017

cash margin by Baht 1,848per ton in 2017. Management’s Discussion and Analysis (MD&A) for year 2017 (Revised) 2 As the result of EGM holding on 30 August 2017, the shareholders voted down the Debt Equity

0.11 Financial Policy Ratio1 Total liability-to-equity ratio times 1.43 1.57 2.12 Interest coverage ratio6 times 3.58 5.54 0.37 Debt service coverage ratio (Cash Basis) 7 times 0.07 0.25 (0.02) Dividend

end of 2017. The Company’s debt to equity ratio was 1.59 times while the interest bearing debt to equity ratio was 1.29 times. Management Discussion and Analysis Q1/2018 Page 4/4 JAS Asset Public

shareholder’s equity stood at 1.55 million baht as ending of 31 December 2018 The Company debt to equity ratio stood at 1.55 times and the Interest-Bearing Debt ratio was 1.28 times. Forward Looking The Company

ratio stood at 1.58 times and the Interest-Bearing Debt ratio was 1.28 times. Forward Looking In the year of 2017, the Company has expanded its business toward Property Development for sale – Newera

was because the Company capital increase from General Mandate and share premium increased from increase capital. The Company debt to equity ratio stood at 1.58 times and the Interest-Bearing Debt ratio

-term loan. Whereas the Company’s shareholder’s equity stood at 943.0 million Baht, slightly decrease from the end of 2018. The Company’s debt to equity ratio was 1.61 times while the interest bearing

. Quick Ratio (x) 3.97 5.10 (1.13) Return on Equity (%) 12.70 14.53 (1.83) The lower ROE was a result of lower net profit for 1H17. Debt-to-Equity Ratio (x) 0.08 0.09 (0.01) The lower D/E ratio was a result

As at 30 June 2020, comparing with last year, the Group has significant financial ratios as following; o Debt to Equity ratio (D/E) as of 30 June 2020 was 2.10 times. A little bit increased compare