property, plant and equipment (5) Net cash from (used in) investing activities (88) Table 6: Condensed Statement of Cash Flow Management’s Discussion and Analysis (MD&A) For Q2/2017 17 Unit : Million Baht

หวา่งผู้ขายและบริษัท โดยบริษัทได้มีการ ประเมินมลูคา่กิจการด้วยวิธีตา่งๆ ตามหลกัสากลซึง่บริษัท เห็นวา่วิธีมลูคา่ปัจจบุนัสทุธิของกระแสเงินสด (Discounted Cash Flow) เป็นวิธีการท่ีเหมาะสมที่สดุในการประเมิน

met prior draining treated water to the river. Industrial Zone has an average flow of 2,000 m3/day. After the completion of plant, it is expected that plant shall be capable of treated flow at a

31, 2016. The important details of cash flow were as follows: 2.1.1 Cash and cash equivalent of Bt2,094.9 million which cash flow summarized for the nine months of 2017 were below ;- - The Group’s net

27,423.6 mm, which increased by THB 5,461.3 mm from THB 21,962.3 mm as of 31 December 2016, mainly from increase in non-controlling interest in WHAUP after its IPO. Cash flow analysis Q3 2016 Q3 2017 THB mm

ANALYSIS FOR Q3/2017 7 9. Key Financial Ratios Key Financial Ratios As of 30 Sep 2016 As of 30 Sep 2017 Liquidity Ratio Current ratio (time) 0.30 0.52 Quick ratio (time) 0.29 0.49 Cash flow ratio (time) 0.74

equipment (8) Net cash from (used in) investing activities (99) Table 6: Condensed Statement of Cash Flow Management’s Discussion and Analysis (MD&A) For Q3/2017 17 Unit : Million Baht Jan -Sep 2017 Cash

December 2016, total equity included with equity attributable to owners of the Company of THB 1,426mn and non-controlling interests of the subsidiaries of THB 67mn. CASH FLOW As of 31 December 2017, the

non-cash adjustment and other operating activities of THB 1,575 million; 2) Cash flow from investing activities of THB 2,464 million, which was spent to invest in bank deposit for THB 1,700 million, and

Dec 2017 Liquidity Ratio Current ratio (time) 0.46 0.60 Quick ratio (time) 0.44 0.56 Cash flow ratio (time) 0.71 0.91 Profitability Ratio(1) Gross profit / total sales and services revenue (%) 50.37