working capital management during 9M17, trade receivable turnover, inventory turnover as well as trade payable turnover were not meaningfully changed yoy. Leverage ratio has improved as illustrated by

Director Ratio Analysis :Consolidated Financial Statements 12 mth 12 mth Unit : THB million 2017 2016 Returns (%) Return on Assets 13% 8% Return on Equity 15% 10% Working Capital Management (Days) Trade

* 12% 10% Return on Equity * 14% 12% Working Capital Management (Days) Trade Receivable Period 62 67 Inventory Period ** 40 35 Trade Payable Period 36 44 Leverage Ratios (x) Interest Coverage 350.60

2019 Returns (%) Return on Assets * 15.5% 10.9% Return on Equity * 18.6% 13.7% Working Capital Management (Days) Trade Receivable Period 71 74 Inventory Period ** 42 31 Trade Payable Period 53 51

% 37.9% Return on Equity * 22.4% 47.6% Working Capital Management (Days) Trade Receivable Period 62 74 Inventory Period ** 40 37 Trade Payable Period 46 46 Leverage Ratios (x) Interest Coverage 3,923.2

concerning the management of fund; (2) Management company trade assets or enter into a contract for any fund which is not special mutual fund, having the counterparty who is an affiliated (Translation) - 4

such person concerning the management of fund; (2) Management company trade assets or enter into a contract for any fund which is not special mutual fund, having the counterparty who is an affiliated

length transactions and (4) In the case where such transaction is crossed trade under the same management company. Such transactions shall be as follows: (a) If any counterparty or both are mutual fund

(%) Return on Assets * 22.4% 16.4% Return on Equity * 27.1% 24.2% Working Capital Management (Days) Trade Receivable Period 75 68 Inventory Period ** 31 38 Trade Payable Period 50 49 Leverage Ratios (x

% 28.3% 19.7% Working Capital Management (Days) Trade Receivable Period 62 63 62 62 Inventory Period ** 41 44 40 44 Trade Payable Period 51 51 52 51 Leverage Ratios (x) Interest Coverage 5,075.2 27.3 113.7