weighted average ordinary shares of 518 million shares. 6.1 Liquidity ratio Current ratio and quick ratio increased from the previous year by 1.76 times and 1.35 times, respectively. In 2017, has current

THB 42,629m Non-current assets. Total liabilities stood at THB 44,939m while interest bearing debt was THB 31,925m while the net gearing ratio stood at 1.61x, significantly lower than the Company’s

company has high cash and current investments from IPO proceeds. As a result, debt to equity ratio drop to 0.28 times. Osotspa Public Company Limited Q4’18 and FY18 Management Discussion & Analysis 27

were barely changed comparing to the same quarter of last year. For the financial risk perspective, the ratio was at extremely low leverage with debt to equity ratio of 0.2x from 0.3x yoy. Please be

equity ratio stood at 0.32x Capital Structure As of March 31, 2019, CPN reported total interest-bearing debt of THB 29,875 mn, a decrease from the balance as of December 31, 2018 of THB 30,398 mn, mainly

increased by 39 million. 2. Temporary investment was decreased by 131 million from trading securities. 3. Trade and other current receivables were decreased by 44 million due to improved debt collection

persons - net of Baht 166.56 million net with the increase in trade and other current payables of Baht 24.54 million resulting to the decrease in interest-bearing debts to equity ratio and debt to equity

-year average of 68.0 percent. Consequently, employment contracted by 0.7 percent. Private consumption slightly softened due to stagnant farm and non-farm income growth. Moreover, household debt, which

(MD&A) Page 11 of 15 Net debt to equity ratio stood at 0.35x Net interest-bearing debt to equity ratio stood at 0.35 times, an increase from 0.07 times from the end of last year, on higher net debt as

Profit Margin -51.05% -12.37% Debt to Equity Ratio (Time) 1.97 1.78 Total Expenses The 3-Month Operating Result as ended 30 June 2018 Construction Income In the 2nd quarter of 2018, the company and its