generation capacity and 10 tons per hour of steam generation capacity with the project cost of approximately Baht 3,105 million (the debt proportion is approximately 75 percent and the equity proportion is

% Total Equity 42,708 15% 50,427 18% Credit Rating Fitch National rating: AA+ (THA), Outlook: Stable S&P BBB+, Outlook: Negative Source and Use of Fund: FY17 (Bt mn) Source of Fund Use of Fund Operating

interest-bearing debts to shareholders’ equity ratio of 0.6 time, up from 0.5 time, respectively. However, the Group is currently under the bond approval and issue process, should the entire process have

80% 2027 9,000 750 - - Retained earnings 24,675 8.7% 32,505 11% 2028 - 750 - - Others 25,752 9.1% 25,163 8.7% Total Equity 50,427 18% 57,669 20% Credit Rating Fitch National rating: AA+ (THA), Outlook

period of the last year (excluded Nguyen Kim decreased by 24.6%). The decrease was primarily due to expenses related to sales such as employee benefit, rental and service expenses, utility expenses, credit

79% Retained earnings 51,382 15% 50,239 14% Credit Rating Others 24,307 6.9% 24,604 6.9% Fitch National rating: AA+ (THA), Outlook: Stable Total Equity 75,689 22% 74,843 21% S&P BBB+, Outlook: Stable

) 1.07 1.06 Net operating debt to equity (times) 0.84 0.88 Debts with fixed interest % 52% 50% Credit Rating by TRIS (Reaffirmed in October 2016) A+ A+ Liquidity (US$ bil l ions) 1.6 1.4 Unutil ized credit

normally the credit term is longer than ZIGA, the trade and other receivable was increased proportional to the increase of selling on DAIWA and the increased in remaining of finish goods inventory equal to

, the company has invested in products and services in the projects and received the invoices from overdue costs carried forward from previous periods. In addition, the credit term of trade accounts

by Baht 196.65 million from the ended 31 December 2016, mainly from short-term loans from financial institutions increased from packing credit and trade on demand, the accounts payable increased due to