refinery margin to shrink. In this quarter, even though the crude oil price situation continues to improve constantly from December 2018, the cost of a proportion of crude oil that was refined within this

, several commercial banks may continuously set aside high provisions and focus mainly on debt restructuring in order to control loan quality, even though the Bank of Thailand’s leniency in asset

expected to be complete within Q3/2017. In Q2/2017 the company has submitted documents to get a permission to build a new non-hazardous waste landfill. The company expects to start the landfill construction

, which the Company has gradually drawn down the said loan and will be due on September 30, 2017 as per details below: Since the Company is currently in the process of debt restructuring and seeking funds

for 2018 in amount of 18.5 million baht in May 2019. Trade and other payables decreased 8.4 million baht and long-term loans due within one year decreased 0.6 million baht. (2.2) Non-Current Liabilities

energy business incurred a gross loss because the company sold rooftop solar power to tenants of building space within the Wincoast Industrial Park as Page 3 of 4 only one project, capacity 0.75 megawatts

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

3.1% 63.0 474.8% Trade and other payables 140.2 6.2% 123.6 5.0% -16.6 -11.8% Long-term loan within 1 year payment 73.8 3.3% 115.4 4.6% 41.6 56.4% Short-term loan 386.5 17.1% 39.6 1.6% -346.9 -89.7% Long

5.0% -16.6 -11.8% Long-term loan within 1 year payment 73.8 3.3% 115.4 4.6% 41.6 56.4% Short-term loan 386.5 17.1% 39.6 1.6% -346.9 -89.7% Long-term loans - net 760.2 33.6% 644.8 25.8% -115.4 -15.2

– 738 MHz 788MHz – 793MHz 2 x 5MHz 17,154 Estimated in 2Q21 2. 2600MHz 2500 – 2600MHz 100MHz 19,561 21 February 2020 3. 26GHz 25.2 – 26.4 GHz 1200MHz 5,345 Within February 2021 The licenses have a life of