long-term loan with fixed interest rate. Accordingly, as at December 31, 2018, the Corporate Group had no long-term debt obligation to comply with the terms and conditions of the loan agreement with the

Group had no long-term debt obligation to comply with the terms and conditions of the loan agreement with the commercial bank. (6) Factors Having Impact on Future Operating Results It is anticipated that

50 Total Debt to Equity Ratio (Times) 0.51 0.71 Interest Coverage Ratio (Times) 73.26 43.82 Debt Service Coverage Ratio (Times) 6.55 2.59 (3) Asset Management Capability (3.1) Debtor Quality, Accounts

long-term debt obligation to comply with the terms and conditions of the loan agreement with the commercial bank. (6) Factors Having Impact on Future Operating Results Despite the fact that the economy

production cost that charge to GJ Steel under the tolling service agreement, GJ Steel provided main raw material, scrap, for the company’s production. Unit : million Baht Q 1/2018 Q 1/2017 Group Revenues 8,148

the production cost that charge to GJ Steel under the tolling service agreement, GJ Steel provided main raw material, scrap, for the company’s production. Unit : million Baht Q 2/2018 Q 2/2017 Group

(Days) 36 48 Total Debt to Equity Ratio (Times) 0.43 0.51 Interest Coverage Ratio (Times) 153.16 73.26 Debt Service Coverage Ratio (Times) 10.69 6.55 - 6 - (3) Asset Management Capability (3.1) Debtor

fixed interest rate. Accordingly, as at June 30, 2018, the Corporate Group had no long-term debt obligation to comply with the terms and conditions of the loan agreement with the commercial bank. (6

Average Payable Period (Days) 17 17 Cash Cycle (Days) 45 48 Total Debt to Equity Ratio (Times) 0.54 0.51 Interest Coverage Ratio (Times) 85.99 73.26 Debt Service Coverage Ratio (Times) 21.20 6.55 (3) Asset

Corporate Group had no long-term debt obligation to comply with the terms and conditions of the loan agreement with the commercial bank. (6) Factors Having Impact on Future Operating Results It is anticipated