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

Baht 51 million in Q1/2019. 5. Liquidity and Capital Resources Current Ratio As at 31 March 2019, the Company and its subsidiaries recorded current ratio of 0.75x, equal to the figure at the end of last

, mainly due to net loss of Baht 51 million in Q1/2019. 5. Liquidity and Capital Resources Current Ratio As at 31 March 2019, the Company and its subsidiaries recorded current ratio of 0.75x, equal to the

EBITDA margin and net profit margin. The company’s liquidity decreased to 1 time because additional short-term loans with bank deposits were used to invest in associates and purchase of equipment. The

2017, which was 2.0: 1. The increase was due to the increase of current liabilities, the dividend payment to the shareholders and the share repurchase of the subsidiary. Liquidity Cash flows Unit

increase of current liabilities, the dividend payment to the shareholders and the share repurchase of the subsidiary. Liquidity Cash flows Unit: Million Baht Q3’ 2018 Q3’ 2017 Cash flows from (used in

10.31425 billion THB, increasing 10.46% and 24.04% from 2018 respectively. The financial liquidity has efficiently been managed, therefore, the interest bearing debt to equity ratio and the debt to equity

other 2 projects i.e. Lumpini Park Pahol 32 and Lumpini Place Rama 3-Riverine will be available for rent. Furthermore, financial liquidity has been managed to enhance the financial stability of the

an associate in the first quarter of 2020. 4. The Company had cash, cash equivalents, and short-term investments of THB 1,302.5 mm in order to manage the Company’s liquidity and prepare for the

enhance the liquidity and cash flow to the Company. In addition, the group of particle-board and MDF suppliers has adjusted the prices of particle-board and MDF increasing by 7 – 10 percent depending on