slowdown in 2016. Sales revenue from supply and maintenance grows at 68.35% deriving from the strong capability of the Company to maintain its customer bases as well as new maintenance projects awarded to

maintenance grows at 34.51% deriving from the strong capability of the Company to maintain its customer bases as well as new maintenance projects awarded to the Company. Other Revenue In the quarter 1-3 of 2016

from supply and maintenance grows at 32.64% deriving from the strong capability of the Company to maintain its customer bases as well as new maintenance projects awarded to the Company. Other Revenue In

increase in total sales, core business revenues and bad debt selling. The bad debt recovery and total portfolio continued to grow, together with a strong growth of both domestic and overseas subsidiaries. In

financial position remains strong with low debt-to-equity ratio and high current ratio. Global Green Chemicals Public Company Limited Management Discussion and Analysis | 3 10% 90% 1Q2019 41% 59% 1Q2018 444 8

(263)mn. This was derived from profit before tax of THB 161mn, being offset by non-cash reconciling items THB 331mn and offset by changes in net working capital of THB (183)mn. After deducting cash paid

liabilities of Baht 137 million; and (2) cash inflows from net change in working capital of Baht 196 million, mainly due to decrease of account receivable and inventories.  Net cash used in investing

also later opened up to all employees. Maintaining a strong liquidity position has been 2 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02

cause of change as follow: 1. Sales Revenue decreased by 139.64 million baht or 7.49% from 1,863.61 million baht in 2018 to 1,723.97 million baht in 2019 due to sales volume decrease, from strong

strong appreciation of THB/USD, which strengthened from the average rate of Baht 34.2863/USD in Q2-17 to Baht 31.9468/USD in the same period this year. Sales revenues of this quarter amounted to Baht