December 31, 2017. In addition, the Company and its subsidiary also had a continuous growth in the Company’s performance and the sufficiant liquidity for long-term loan repayment. Therefore, the proportion

investment in associated company to investment in available-for-sale securities, which consistent with the investment proportion and the purpose of the Company investment. The Company recorded gain on fair

employees’ retirement benefits according to New Labor Act and recorded loss on impairment of assets in the fourth quarter of 2018. In terms of proportion to total revenues, operating and administrative

, while personal expense of the Company increased by only 5% y-y. In terms of proportion to total revenues, operating and administrative expenses represented 42% of total revenues, which is the same level

0.31 0.55 0.47 (0.13) (19.12) Others/1 11.34 5.12 24.38 20.68 13.03 114.9 Total cost of sales 221.68 100.00 117.82 100.00 (103.87) (46.86) Proportion of cost of sales to sales revenue (%) 30.22 30.65

. In terms of proportion to total revenues, operating and administrative expenses represented 42% of total revenues. Considering the Company’s separate financial statement, the operating and

EBITDA increase did not translate fully into net result in the same proportion. Still, the net income was higher for the quarter as the full impact of Saraburi Quicklime was felt and this trend is set to

investment in CKP from investment in associated company to investment in available-for-sale securities, which consistent with the investment proportion and the purpose of the Company investment. The Company

volume of the Group. For the income proportion separating by business structure consisted of Aviation refueling services at 80% and Fuel pipeline transportation services at 20% respectively. 1.1.2 Others

proportion. Still, the net income was higher for the quarter by 30% versus 2017. Golden Lime Public Company Limited 6 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 SEPTEMBER 2018 3.2. Assets