shareholders’ equity. 4.2 Capital expenditure In the year 2018, the Company had capital expenditure for the replacement of electrical equipment and machine accessories amounted 17.82 million Baht. 7 /8 ( ) Union

Equity ratio 0.11 times, lower than that of 2016, i.e. 0.16 times, indicating low relative proportion of debt and shareholders’ equity. 4.2 Capital expenditure In the year 2017, the Company had capital

Quicklime in 1Q 2018. Investments in capital expenditure have also reduced significantly with continued focus on Capex discipline. There will be increased expenditure in the coming months however this is

comparison with the previous year, due to the delay approval process of budget expenditure of the government for the 2020 fiscal year. • Revenues from sales and beauty treatment services for the year 2019 were

supporting factors were the return-to-expansion of export goods and private final consumption expenditure. In addition, the relaxation of the COVID-19 restrictions resulting in the number of foreign tourist

consumption and the improvement of the service sector according to the number of thai and foreign tourists. However, Public expenditure shrinks from both regular expenditure according to central budget

marketing events in the first quarter of 2018 than prior year such as “FN Fair” at head office and “FN Thank you sale” at branches. The Company efforts to carefully control promotion expenditure. Thus, 1Q18

in capital expenditure. However, external demand softened as the value of merchandise exports grew at a slower pace. (Source: BOT Press Release No.3/2020 on the Economic and Monetary Conditions for

of tax exempt status which can be carried forward and deducted as expenditure from the net profits acquired. For the year 2014 and 2015, the Company could claim this priviliege to the whole amount

Table 7: Capital Expenditure 1Q2017 Bt 268 million 2Q2017 Bt 234 million 3Q2017 Bt 305 million 4Q2017 Bt 418 million An additional investment in Phase 3 of the new plant during 2017, will commence