LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2017 2 2. Economic Situation The Thai economic activity in the third quarter of 2 0 1 7 continued to expand. Export–oriented manufacturing businesses
in finished goods to meet higher demand from customers and production of bottle from our bottle manufacturing factory that started in December 2017. 4. Property, plant and equipment Property, plant and
2018. This was a result of a decline in merchandise exports owing to the economic slowdown of trading partners affected by trade protectionism and the impact of structural changes in the manufacturing
sales recognition from Long Quan Safe Food JSC (LQSF), Vietnam. If excluding LQSF, export Branded Business sales still increased 31% YoY. Total Contract Manufacturing Business (CMG) sales decreased 13
categorized as follows: • Online sales and Head office pick up • OEM/Food Manufacturing under the Company’s trademark or per customers’ demand Dessert Café Non-Café 2 • Catering services such as parties
is likely leaving its mark on the Thai economy. Private consumption growth moderated noticeably in Q1 while private investment fell, reflecting dampening domestic demand. Manufacturing output
. Exports, a key driver of the manufacturing sector, contracted at an accelerated pace compared to the first quarter. Additionally, manufacturing output also continued to falter in the same period. More
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