disbursements and capital expenditures according to disbursements of transportation agencies that have already expedited disbursements. Investment expenditures of state enterprises continued to shrink in

largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through

to a stronger growth of trading partners’ economy, and in terms of prices on the back of rising global crude oil price. Tourism sector continued to expand, private consumption gradually increased

continued declining due to intense competition in Thailand reflecting falling in revenue from fish feed which dropped by 23.69% comparing to 2017 from lower sales volume of fish feed. Furthermore, revenue

, export branded sales continued to grow significantly from sales recognition of Long Quan Safe Food JSC (LQSF) in Vietnam. After all, sales have bottomed out from Q3/2018, growing 8% QoQ with growth in

than exports value, with value of imports contracted by 4.7% yoy consistent with the subdued domestic economic conditions. In the tourism sector, the number of tourist arrivals for 2019 continued to

segment continued declining in 2017 due to intense competition of both animal feed and aquatic feed business in Thailand. Moreover, swine business was declined because of recession in swine price in past 2

6.91 Total Non-Current Liabilities 582.04 8.06 620.55 8.78 548.79 8.21 TOTAL LIABILITIES 1,407.08 19.49 1,303.03 18.44 1,247.52 18.66 Unit : Million Baht LIABILITIES AND SHAREHOLDERS’ EQUITY (CONTINUED

economy for the first quarter of 2019 continued to expand driven mainly by domestic demands. Private consumption expanded in all categories supported by the improvement in purchasing power from the rise in

a drop in sales to Vietnam whereas the others continued to demonstrate an adherent growth thanks to the extensive distribution coverage and wider consumer base. Additionally, the Company still put an