’ requirements. The Company and its subsidiaries therefore sold scrap and recorded as the other income. 1.3 Cost of goods sold Majority of cost of goods sold are cost of raw material are cold rolled stainless

the Company was 31.8% mostly as a result of higher raw material costs (particularly cullet) and natural gas price, higher listing fees from the new product launches in both beverage and personal care

Equity Conversion Debt”). 4. ACO I agreed to reduce a part of the outstanding Trade Debt (i.e. a haircut) by waiver of the outstanding interest of USD 95,377,980, or equivalent to THB 3,291,419,906.931. As

and raw material importation by hedging forward contract from several financial institutions. Industry Overview In 2018, Thailand’s chicken meat export reached an all-time high which equaled to THB

and raw material importation by hedging forward contract from several financial institutions. Industry Overview In 2019, Thailand’s chicken meat export was about 954,010 tons, 6.93% up from 2018 and

and caused a material fall in in number of tourists especially from China which is our target customers. The number of Chinese tourists slid about 1% from the same period last year (source

affecting tourism in Thailand still emerged and caused a material fall in in number of tourists especially from China which is our target customers. The number of Chinese tourists slid about 8 % from the same

margin was declined from the higher raw material price. The Denatured Ethanol Business saw performance improved from last year following the amalgamation, however gross profit was affected by the declining

Ended 30 September 2017 2018 THB mm % THB mm % THB mm % Raw material and packaging 119.21 85.73 77.35 79.17 (41.86) (35.11) Labor costs 12.28 8.83 8.99 9.20 (3.29) (26.79) Depreciation costs 3.76 2.70

, negative factors affecting tourism in Thailand still emerged and caused a material fall in in number of tourists especially from China which is our target customers. The number of Chinese tourists slid about