percent are finished products, 24.64 percent are work in progress and 30.69 percent are raw materials. The Corporate Group conducts inventory inspection every month and has employed accounting policy for

acquisition date, non-recurring expenses and share of investment in JV and associates. PERFORMANCE ANALYSIS (2017/18 vs 2016/17) 2017/18 was another year of solid progress for VGI. The Company achieved the

Page 2 Management Discussion and Analysis 1. Significant events in the second Quarter of 2018  The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited

of the total assets, of which 24.08 percent are finished products, 18.31 percent are work in progress and 31.98 percent are raw materials. The Corporate Group conducts inventory inspection every month

and equipment increased by Baht 91.09 million due to the purchase of 21 branches, in accordance with the purchase asset agreement of Baht 66.17 million and construction in progress amounted to Baht

and work on progress of construction: As at 30th September and 31st March 2018, the Company and its subsidiaries had Land, plant and equipments – net of Baht 514.04 million (or 21.97 percent of total

22.41 percent of the total assets, of which 27.66 percent are finished products, 21.77 percent are work in progress and 31.52 percent are raw materials. The Corporate Group conducts inventory inspection

Page 2 Management Discussion and Analysis 1. Significant events in the third Quarter of 2018  The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited

with the purchase asset agreement of Baht 66.17 million and construction in progress amounted to Baht 36.05 million. And non-current assets increased amount Baht 11.32 million consisting of deposits for

and work on progress of construction: As at 31st December and 31st March 2019, the Company and its subsidiaries had Land, plant and equipments – net of Baht 538.97 million (or 27.42 percent of total