MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR 2017 3 Raw Water Volume (Million Cu.M) Q4/2016 Q4/2017 YoY % 2016 2017 YoY % Total distribution volume 65.15 59.46 (5.69) (8.73%) 282.02

summary as follows:- 1. Nature of operations of the Group The Group has principally engage in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water

operations of the Group The Group has principally engaged in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water treatment system; including operate

Project Investment 1,456.31 100.00 6. The Basis of the Value of Consideration Paid The Company will enter into the assets acquisition transaction by investing in the MDF Board production and distribution

acquisition transaction by investing in the MDF Board production and distribution with the investment value not exceeding Baht 1,456.31 million. The basis of the values consideration paid in the transaction is

Company’s major export counties.  Export CMG sales decreased by c.50% YoY, since there was some customer ending the distribution contract with some retailer which resulted in reduced sales volume since Q4

Production of The Nation newspaper, operated by Nation News Network Company limited (NNN) and website www.nationmultimedia.com as well as distribution of news reports via Facebook and Twitter 2. Broadcasting

reduction in the setup cost as explained in the cost of sales section.   Distribution costs and Administrative Expenses (SG&A) In 3Q19, the Company’s distribution costs and administrative expenses was THB

, represented a GPM of 66.1%, increased from THB 2.8mn in 4Q/2018, where GPM was 30.4% due to the reduction in the setup cost as explained in the cost of sales section.     Distribution costs and Administrative

income 219 146 50.2% 127 72.5% Gross profit 2,367 2,214 6.9% 2,320 2.0% SG&A 1,538 1,322 16.3% 1,446 6.3% Selling and distribution expenses 1,050 884 18.8% 1,002 4.7% Administrative expenses 488 438 11.2