GFPT Public Company Limited Management Discussion and Analysis for the Year 2017 Page 1 of 15 Management Discussion & Analysis Summary of Consolidated Statements of Financial Position of GFPT Public

partly because the overall household purchasing power was not sufficiently strong and household debt remained elevated. Private investment picked up in line with the improved economic outlook, and with

slower rate consistent with economic slowdown. Personal loans still expanded. Meanwhile, loans to business contracted. Commercial banks were tighter in extending loans in line with economic conditions as

gained more new projects. In terms of total operating expenses, it usually varies in line with the increase or decrease in revenue as the comparison between Q1- 2017 and Q4-2016, The change in total

application to provide more convenient payment methods to its customers. The system will widen and strengthen the service line-up of credit card business of ASB Cambodia. Value of consideration: Name, position

1H16 was in line with the decrement in sales. The gross profit margin was 47%, higher than 2Q16 and 1Q17 due to the Company effort to carefully control marketing expenses. For 1H17, the gross profit

prior year. Moreover, bank fee for letter of guarantee for oil and gas construction was increased, which in line with project value. 6. The Group has received long term loan form the financial institution

than 35 percent of the seaweed production in China for the year 2017 which impact to all seaweed business around the world. In addition, the first two phase of production line at Rojana factory has been

profit The increment cost of goods sold for 3Q17 compared with 3Q16 and 2Q17 were in line with the increment in sales. The Company held more events such as “FN Fair” at head office and “FN Thank you sale

million or 13.32% from last year, which was in line with the increment of sales value and the increment of energy cost. Temporary shutdown expenses The Company shutdown expenses presented at Baht 159.15