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

at the end of Q4/2019, thus the Company expects gross profit margin from sales to get back to a normal level in Q1/2020. • In Q4/2018, there were one-time reversal expenses of Baht 83.9 million from

acquisition, the Company would get more discount for 5 Million Baht. Also, the seller asked to change the condition as follows, 1. The buyer made a holding deposit of 20 Million Baht for 3 title deeds

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