memorandum on entering into such transaction is disclosed to the SET. 3.3 Rationale and background of the transaction Currently, the Company encounters the situation of the lack of financial liquidity and the

the financial situation of the Company. As for the agent fee of 1.5 percent of total sale, the rate is not higher than the fee rate in the steel industry which is at approximately 2.00 - 3.00 percent

with the business model and management of the company’s assets and liabilities, based on the facts and situation as of the date these financial reporting standards were initially adopted. 1

situation as of the date these financial reporting standards were initially adopted. 1. Classification and measurement of financial assets The Company reclassified of financial assets and financial

global financial market volatilities in the face of uncertainties in the US’s policies. In the meantime, domestic political situation also warrants monitoring as the government is preparing for an election

transaction Currently, the Company encounters the situation of the lack of financial liquidity and the cash flow for the business operation, as the Company has continuous accumulated loss. Thus, the Company

disposal of Land and Buildings will help the Company have cash flow to repay the debt within the time specified, which will reduce the burden on interest expenses and increase the financial liquidity of the

financial situation. However, the Company has received a written waiver from its creditor on this issue in the third quarter of 2019, which is the most recent waiver. The Company has to maintain Debt to

investors. The debenture was rated A+(tha) by Fitch Ratings (Thailand) which reflects the strength of the company’ financial situation. In this offering, the booking of this debenture is 7 times higher than

financial statements. 3.3 Rationale and background of the transaction Currently, the Company encounters the situation of the lack of financial liquidity and the cash flow for the business operation, as the