consolidated earnings and subjected to the availability of retained earnings on the separate financial statements. In all cases, dividend payment shall depend on cash flow and investment plan including any other

payment shall still be made twice a year and is based on consolidated earnings and subjected to the availability of retained earnings on the separate financial statements. In all cases, dividend payment

the availability of retained earnings on the separate financial statements. In all cases, dividend payment shall depend on cash flow and investment plan including any other future obligations of the

availability of retained earnings on the separate financial statements. In all cases, dividend payment shall depend on cash flow and investment plan including any other future obligations of the Company and/or

its efficiency in operating and administrative expenses well through the Digitalization process in the future. The separate financial statements has cost-to-income ratio at 38.3%, as there are

2018 Separate financial statements Consolidated financial statements Separate financial statements Consolidated financial statements Separate financial statements Consolidated financial statements Total

flexible packaging, which will not be profitable for the Company. 7.3 Policy of Paying Dividend The Company has a dividend policy to pay out as least 50% of its net profit after tax stated in the separate

separate the business of these two companies. Moreover, both FKRM and GCB are the only distributors and do not have any ownership of the FKR brand and FKRMMs assets. Thereby, NDR intends to acquire all

impairment loss in investments in subsidiaries in separate financial statement at THB 272 million. The transaction is expected to be completed by the end of Q3/2018. Management Discussion and Analysis of

section is intended to be a summary of more detailed discussion contained elsewhere in the registration statement. 2. Provide the disclosure in a separate section titled “Risk Factors” and separate