equipments - Land and improvements, building, machinery, office equipments, vehicles and work on progress of construction: As at 30th June and 31st March 2019, the Company and its subsidiaries had Land, plant

and Olé Mini Sugar Free. However, the growth was partly offset by the decline in OEM-personal care. 1H’19 the Company’s gross margin improved to 35.0%, +330bps YoY. Gross profit increased by THB 614

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

of the international school by 1Q 2020. The Company expects to make further progress in its asset divestment during 2H 2018. The remaining assets to be divested totaling THB 2.3bn are 2 plots of land

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

free shops, marina, conference and exhibition organizer, and other related businesses (the "Project Crossroads Phase 1"). The Project Crossroads Phase 1 is located on Emboodhoo Lagoon, same location as

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