committing or permitting another to act so as to falsify the accounts of GSTEL and GLS by making false entries concerning the purchase of raw materials from overseas suppliers materially lower than the actual

FX fluctuation normally causes no material impact on overall performance of the company. B.Grimm always has well-planned strategies to manage the FX risk as follows; 1) Natural hedging where the ratio

it has failed to maintain such amount. Chapter 2 Registration with the Institute of Appraisal Profession Clause 17 It shall be deemed that an appraisal company and natural person, who have been

sales volumes. The sharp decline in the Finished Goods prices has also led to a decline in Raw material prices and the Company suffered devaluation loss on Finished Goods stock, Raw Material in stock and

10.06% as compared to 2016. However, higher proportion of cost of sales to net revenues from sales increased from 48.69% to 49.08% as a result of increasing prices of goods and raw materials including

million, because the Company had order to be used for the production of raw material to customers increased. - Investment in associated company decreased for 29.57 million Baht, because share of profit of

increased 31% are results of volume impact in domestic market and also selling price adjustment to trade, regarding to raw material cost increase. ⚫ Total expenses increase 30% are mainly reflected by

increase was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth during 2017 and (3) the increased sales of raw material to franchisees. Revenue from franchise fees

of THB 375.9 Mn or 21.3% and was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth and (3) the increased sales of raw material to franchisees. Franchise fees

instruction, procedure and technical production, production flow, machine standardization, raw material standardization, diagnostic, testing and process control including the procedure and patent and other