process and try to obtain new funding for its own production. This is to maintain market share and to meet demand for HRC local customers. However, the domestic steel industry has been affected by a trade

% 6,078 52.5% 1.0% Dusit Thani PLC Management Discussion and Analysis For 1Q19 P a g e | 6 In 1Q19, profitability ratios still maintain resilient showing gross profit margin in line with the same period

volume in the first half of the year, along with effective cost management to maintain profit margin as established.

to maintain production cost as low as possible. The Company is still profitable regularly because there is no risk of fluctuations in the price of CPO. 2.1 The ratio of the cost of refining services to

of increasing working capital of GJ Steel in order to increase sale and maintain continuous HRC production for local market (Separate: Baht 170 million, decreased by Baht 16 million QoQ and decreased

. This resulted from the increase of short-term loan for purpose of increasing working capital of GJ Steel in order to increase sale and maintain continuous HRC production for local market (Separate: Baht

million QoQ and increased by Baht 32 million YoY. This resulted from the increase of short-term loan for purpose of increasing working capital of GJ Steel in order to increase sale and maintain continuous

increasing working capital of GJ Steel in order to increase sale and maintain continuous HRC production for local market (Separate: Baht 682 million and 790 million, respectively, decrease by Baht 108 million

under RBO to VGM. MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 7 AUGUST 2019 MASTER AD PUBLIC COMPANY LIMITED NATIONWIDE COVERAGE 2  PBSB will maintain its shareholding in Titanium Compass Sdn. Bhd.– Transit

second quarter then rebounded quickly until first quarter of 2018 and dropped again in second quarter to fourth quarter of 2018. Then maintain the price level at USD 500/mt until second quarter of 2019