transfer expenses) increase 25.06% as a result of the attempt to liquidate the inventory. Therefore, the net profit has decreased 1.30% from the same quarter of the previous year. There is one project

insufficient inventory. Resulting in lower production costs per unit. The Company’s other income THB 1.9 MB and THB 10.8 MB Q1/2020 and 2019 respectively, A decrease compared to the same period last year amount

revenue from sale Baht 1,548.15 million, increased from last year Baht 5.73 million or 0.4%.  Gross profit increased from 43.6% to 44.4% of revenue from sale, as a result from improvement of inventory cost

million, mostly from profit sharing from investment in BBF decreased. Since crude palm oil price has declined, B100 price consequently declined and BBF had to realize an Inventory Loss.  Decrease of

dividend payment in February. Inventory decreased by Baht 9.66 million. Other assets decreased by Baht 14.76 million from deposit payment for fixed assets that were received and transferred to fixed assets

Discussion & Analysis 14 May 2019 Q1’19 Management Discussion & Analysis Page 5/6 Financial Ratio Analysis Q1'19 Q1'18 Liquidity Ratios Current ratio (times) 2.4 0.6 Number of days of inventory 32 39

with QoQ. This is due to the decrease in write off obsolete finished goods and better control. The Company reported shutdown expenses for inventory management against sales volume at Baht 15.7 million

of selling fan increase THB 17.23 million due to the Company reported for loss from inventory devaluation THB 9.96 million, report in cost of selling. The Gross Profit Margin has decreased due to the

from sales and services.  Distribution costs and administrative expenses decreased 20% due to in the second quarter of 2016, the subsidiaries have recognised a provision for inventory obsolescence and

Company used more working capital to finance inventory that increased financial cost compare to the same period last year. For overall 3rd quarter 2018 performance, the Company recorded total revenue of THB