| 2 Executive Summary In 3Q/2019, overall palm oil production and crude palm oil (CPO) inventory remained high in both domestic and international market, thus crude palm oil (CPO) and crude palm kernel

to net realizable value based on inventory aging; and higher employee benefit obligations under severance pay of Baht 20 million for employees serving 20 years or more from 300 to 400 days, according

power and authority to perform any acts relating to and/or in connection with the above allocation of the Company's newly issued ordinary shares as necessary and appropriate. 2. As such, for the

offering 80,000,000 shares at par value of Baht 0.5 in an initial public offering (IPO) and to the Company’s shareholders based on the shareholder proportion (pre-emptive right). This will affect the

Limited (“Roctec”). Roctec is the market leader in multimedia display systems and networking infrastructure solutions based in Hong Kong. MACO expects to obtain expertise in media solutions, system

strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816

disruption to the economy. Businesses and employment were affected by the lockdown measures while consumer purchasing power continued to decline due to the high level of household debt. However, the government

epidemic situation of Coronavirus 2019 (‘COVID-19’) and the countermeasures taken by the government such as travel restrictions and the closure of venues considered high-risk areas including department

the agreements having a material impact on the management or controlling power or allocation of remunerations apart from the allocation based on shareholding percentage. 11.5 Inside information policy

on derivatives or law on trust for transaction in the capital market; (3) “alleged person” means person against whom the SEC Office, based on its findings, preliminarily considers that [such person