1 Ref FN. 026/2019 Management Discussion and Analysis For operation of the first quarter of year 2019 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

insufficient inventory space. The cost per unit therefore increased significantly. Which the company has already built a factory to solve the said problem. However, the company could maintain the level of

the factory which will help in waste controls and effectively manage the raw materials. Please be informed accordingly, Sincerely yours, (Mr.Saton Samerphark) Managing Director

marketing strategies in order to seek more non-hazardous waste put into the RDF process as well as to improve the sales planning by seeking more buyers such as cement factory, power plant etc. At present, the

proceeded with its initial investment plans to install new machines in the second-phase capacity expansion for the new factory, which was already completed in the end of Q2/2019 in time to support the

from the fixed cost control at the factory. Distribution Costs The company has the distribution costs in the second quarter in the amount of 197.2 million Baht or equal to 15.1 percent of revenue from

103.5 MB from new factory construction paid. 2. Non-current assets As of year-end 2017 and Q1/2018 the company’s non-current assets totaled THB 255.5 MB and THB 434.0 MB and equivalent to 19.9% and 35.7

80.95 million from the factory which is under construction. The withholding tax increased by Baht 11.59 million due to a decrease in adjusting of available for sale of securities. Liabilities As at 31

equivalent to 39.1% and 19.4% of the total assets respectively. The main current assets decrease in inventory of THB 304.9 MB and decrease in cash and cash equivalents of THB 151.2 MB from new factory

decrease in cash and cash equivalents of THB 294.4 MB from new factory construction paid. 2. Non-current assets As of year-end 2017 and Q3/2018 the company’s non-current assets totaled THB 255.5 MB and THB