and Q2-2016 increased in similar rate. This is because the gross margin of the projects submitted was not very different. However, the projects delivered in the Q1-2017 are projects with relatively high

year affected to end user to delay their purchasing order from the retail store and therefore the distributor delayed ordering for their stock as well, together with the delivery plan were delayed to Q3

, had paid all of loans to the Company. Inventories decreased by 81.4 MB or decrease of 26.6%. This is because the project in accordance with the contract had completed for delivery in the end of Q2–2018

improving efficiency of power generation  Income from project work of 105.03 Million Baht as 42.38 Million Baht decreased or 28.75 percent when compared to same period of previous year which had revenue of

) Revenue structure + (-)2018 3 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Revenue from steel tower manufacturing decreased by 37.21% as a result of rescheduling of production and delivery plan by major

Co.,Ltd. (Biogas Power Plant) and UWCC (Cambodia) Co.,Ltd. In order to reduce its debt and reshape its investment from less competency business such as Power Plant that cause longer period of repair

achieve the target especially in second half of the year due to the decline of Chinese tourists and economic slowdown in several countries especially in Europe which negatively affect spending power of

. Private consumption has tended to slow down due to lower income and employment rate, especially in the export sector. In addition, consumers' purchasing power is still affected by high household debt and

gradual rebound of consumer purchasing power alongside the effort to restructure the pricing plans and the recovery of tourist- related usages in tourist sims and international roaming calls. This growth

| 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