first quarter of 2020 accounted for 10% of total revenues. As a result, the weighted average funding cost in the first quarter of 2020 was 2.89%, decreased from 3.04% in the first quarter of 2019. Net

require funding from financial institutions Trade and Other Payables decreased by 117.9 MB, representing a decrease of 18.3% from Q4–2018. This is because in Q3–2019, the Company had made payment to the

Capital I’s loan comes from its working capital and/ or new funding from outside source which is currently in process. The company expects such loan can be repaid within stipulated timeline. Related persons

the Funding Structure In 2018, the Company had total debt to equity ratio of 16.1 times, as compared to 13.3 times in 2017. The interest- bearing debt to equity ratio was 10.8 times as compared to 8.9

equity. Appropriateness of the Funding Structure In 2018, the Company had total debt to equity ratio of 16.1 times, as compared to 13.3 times in 2017. The interest- bearing debt to equity ratio was 10.8

mainly locking in long-term borrowing, which is 75% of total borrowings. The weight average funding cost in the fourth quarter of 2018 was at 3.07% same as previous quarter 3.06% but reduced from 3.37% in

year 2018, basically from the net profit of Q1/2019. 8. LIQUIDITY ANALYSIS AND FUNDING ADIQUACY In Q1/2019, the company had beginning cash and cash equivalents of 578.21 million Baht, whereby during the

first repayment on the acquisition loan of 38mTHB in March was completed. Short-term working capital increased versus Q1 2018 as funding for investment in working capital, predominately fuel, which will

. This was mainly due to the quarter net loss of 317 million Baht and the effect of the changes in accounting polices due to the adoption of TFRS 15 of 124 million Baht Appropriateness of the Funding

borrowing, represented 68% of total borrowing as well as reduce interest rate paid to ATS Rabbit Special Purpose Vehicle Company Limited from 4% to 2.84%. As a result, the weighted average funding cost in the