Microsoft Word - ACE MD&A YE22 - EN 1 No. ACE-ACC-1/2023 28 February 2023 Subject Management Discussion and Analysis for the year ended 31 December 2022 To President The Stock Exchange of Thailand

2017 due to the changes in the following items: - Intangible assets was 3,655.42 million Baht, decreased by 47.32 million Baht due to amortization of concession assets, net off with investment for

and Baht 2,553 million, respectively, decreased by Baht 23 million, or decreased by 1% due to the following reasons. Total Assets As at 31 March 2019, total assets were Baht 2,530 million, decreased by

2019 decreased by Baht 36 million or 21% decrease compared to the same period of 2018. This was due to a decrease in specific business tax and transfer fee, following a decrease in transfer of real

unit cost following the Company’s higher capacity utilization to cater to larger production volume which helped pull down certain fixed production cost. 3. Selling expenses In Q1/2018, the Company

percent. An increasing of total revenues was described by the following reasons: 1. Sales for the second quarter of 2018 were 2,378.9 million baht or a slightly increase of 0.3 percent as compare to the

Page 1 of 3 GEL.CS.006/2563 15 May 2020 Subject: Management Discussion and Financial Analysis for the operating results of the first quarter of 2020, ended March 31, 2020 To: Director and Manager The

UNOFFICIAL TRANSLATION Codified up to No. 2 As of 15 November 2006 Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for

Agreement as at June 30, 2017 227.44 The Company has taken the following legal actions. On October 17, 2016, the Legal Department sent out a letter of payment request to MAT and the representative of MAT

% primarily from declining of methyl ester price following the soften of crude palm oil price and sharply decreasing of glycerine price in relation to ample glycerine supply, despite of improving of sales