million, which decreased from the same period of previous year by Baht 6.14 million or 12.37 percent, due to the decrease in marketing and sales promotion expenses of Baht 6.62 million. - 4 - Administrative

million, which decreased from the same period of previous year by Baht 1.46 million or 4.42 percent, due to the decrease in sales promotion expenses of Baht 5.52 million but there was an increase in salary

of Baht 2.50 million and increase in service expenses of Baht 1.13 million but there was a decrease in sales promotion expenses of Baht 1.84 million. - 4 - Administrative expenses were Baht 107.79

the implementation of new loan-to-value (LTV) measures by the Bank of Thailand, as part of our effort to enlarge our high-yield loan portfolio. Along with this, we continued to conduct co-promotion

The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

discount campaign for the Hi-Premium diesel. The latter was to support the government sector’s promotion of environmentally-friendly fuel to dissipate the pollution situation, and at the same time, support

in the amount of THB 51 million. 4. Selling and administrative expenses recorded THB 1,785 million, an increase of 9% YoY and 8% QoQ, mainly attributed to (1) personnel expense, (2) market promotion

consuming in limit quantity. The situation of competition had even more intensity, day by day, and it had the competitors occurred in the market continuously. Although the Company had the promotion activities

promotion and reservation expenses. The significant increase in selling expenses were mainly due to usage of reservation 18 ASIA’S BOUTIQUE AIRLINE system, expenses associated with reservation system and

mainly due to the new business in the form of In-store radio advertisement, events promotion and online content production. There was also sales of hinoki wood products of THB 8.26 million. When deducted