Public Company Limited entered into the MRT Blue Line Concession Agreement with the Mass Rapid Transit Authority of Thailand (the “MRTA”) on March 31, 2017 for the concession period of 33 years. The MRT

entered into the MRT Blue Line Concession Agreement with the Mass Rapid Transit Authority of Thailand ( the “MRTA”) on March 31, 2017 for the concession period of 33 years. The MRT Blue Line Project

, flexibility to follow rapid changes in customer demand) are highly valued by our customers. Golden Lime Public Company Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 JUNE 2018 3. Financial

that Golden Lime and Saraburi Quicklime offers to its customers (high level of supply security based on total 9 kilns in operation, continuous improvement of quality, services in logistics and

business opportunities, as well as decreases it costs and improves its operation efficiency to have sustainable growth and profits in the rapid changing future from the change of technology and the New

COVID-19 crisis in 2020, the Company will closely monitor the situations and quickly adjust to the rapid changes especially focusing on cash flow management. We will also continue to improve our operation

, the Company expands businesses though its master agents around the country and improves its operation efficiency to have sustainable growth and profits in the rapid changing future. The Company has

results based on its audited consolidated financial statements ended 31 December 2018 as follows. Management’s Discussion and Analysis The following Management's Discussion and Analysis should be read in

results based on its audited consolidated financial statements which ended 31 December 2019 as follows: Management’s Discussion and Analysis The following Management's Discussion and Analysis should be read

% 56.1% 56.1% Current ratio (times) 5.5 0.9 0.8 Operating EBITDA (%) 31.7% 33.2% 33.2% Quick ratio6 (times) 5.5 0.9 0.8 Net profit (from operation) (%) 22.4% 25.6% 25.6% Account receivable turnover (times