aggressive marketing strategy caused more geographic diversification in revenue and increase Carabao’s brand awareness worldwide under the vision of “World Class Product, World Class Brand”. Apart from

receipts, however, the country’s current account turned to show a surplus. Moreover, clarity regarding Thailand’s general election date helped curb capital outflows, and the Thai Baht resumed its

segment increased Baht 3.85 million or 15.61 per cent from the same period of last year. Due to the adjustment the business strategy to focused on the large project. and the quality of service and products

changed from December 31, 2018 as follows; The Statements of Financial Position (Unit: Million Baht) Consolidated Financial Statement Dec 31, 2019 Dec 31, 2018 YoY Current Assets 1,625.47 700.84 869.01

Financial Statement March 31, 2019 Dec 31, 2018 YoY Current Assets 770.35 1,622.26 (851.91) (52.51%) Non-current Assets 2,401.73 2,410.40 (8.66) (0.36%) Total Assets 3,172.08 4,032.66 (860.58) (21.34

from minority shareholders through Tender Offer. During Q2/2019, the company used Baht 34,332 million from the short- term loan, resulting in the current D/E ratio of 5.18 times. Nevertheless, the

, comprising current assets increased 58 million Baht and non- current assets decreased 5 million Baht. Liabilities The total liabilities increased 30 million Baht, as a result of purchasing raw materials

and subsidiary has total asset amounted to Baht 30,469 million, decreased by Baht 1,703 million from year ended 2017 which has total asset Baht 32,172 million. Total assets separate into current assets

separate into current assets amounted to Baht 3,702 million, decreased 32% from year 2018 and non-current assets amounted to Baht 24,858 million, decreased 1% from year 2018. Current assets mainly decreased

Group equal to THB 17,460.18 million including THB 5,481.54 million (31.39% of total assets) in current assets, THB 8,212.52 million (47.04% of total assets) in property, plant and equipment (PP&E), THB