80.95 million from Baht 227.17 million. And, the increase of Property, Plant and Equipment were Baht 409.36 million as of 31 December 2018 from Baht 316.47 million as of 31 December 2017 as a result of

to the increase of Other Long-term Investments of Baht 85.27 million from Baht 80.95 million. And, the increase of Property, Plant and Equipment were Baht 593.62 million as of 31 December 2019 from

608.21 million as of 31 March 2019 from Baht 510.09 million as of 31 December 2018. Mostly, due to the increase in long-term investment and the increase in Property, Plant and Equipment as a result of

 other receivables     Total  Non‐Current  assets  increased  to  THB  711.32  million  from  THB    691.37  million  as  of  31  December  2019.    Property,  Plant  and  Equipment  decreased  from  THB

an existing plant. Source of Financial Capital As the group as no interest bearing debt and operating working capital is positive the groups funding is from the shareholders equity. Major Factors which

declined -2.7% mainly from decrease of long-term lease liabilities and spectrum license payable. Interest- bearing debt stood at Bt87,190mn, decreasing slightly by -0.7%. Net debt including lease liabilities

& Trading Business Group 11 Marketing Business Group 13 Power Plant Business Group 14 Bio-Based Products Business Group 16 Natural Resources Business Group 18 Statement of Financial Position 20 Cash Flows

%) Executive Summary PAGE 2 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q3 2019 Operating performance by plant in Q3/2019 The company’s gross profit was at Baht 5,467 million in Q3/2019 which decreased by 535

expenses, and doubtful debt expenses was 1,253 MTHB, decreased by 342 MTHB or 21% from 2017. This decrement was mainly from the loss on written-off and disposal of plant and equipments and intangible assets

2017. The Company and its subsidiaries have been able to increase the Gross Profit margin by 7% compared to the year 2016. 2. In 2017, distribution costs, administrative expenses, and doubtful debt