. Therefore, the Company viewed this investment as reasonable and appropriate. 5. Total value of consideration. The company will pay IGEN-ENERGY ordinary shares in proportion to the purchase amount of 40

, 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

) respectively. Page 4 of 8 For the income proportion separating by business structure consisted of Aviation refueling services at 81% and Fuel pipeline transportation services at 19% respectively. 1.1.2 Others

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

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

/2018. Gross margin of sales in Q3/2018 accounted to 12% and proportion of revenues beauty service business per total revenues was 10%. 3. Key Highlights for performance for the Q3/2018 and Nine-Month

) Proportion of cost of sales to sales revenue (%) 32.48 32.37 Gross Profit Margin (%) 67.52 67.63 Note: /1 Other costs of goods sold mainly comprise warehouse rentals, utility charges and other expenses related