1 / 5 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS • Explanation and analysis of financial performance for the year at the end of 31 December 2018

reasonable and will eventually increase Company’s profitability and benefit to obtain stronger financial condition of the Company. Thus, the Board of Directors has approved the receipt of financial assistance

assistance is reasonable and will eventually increase Company’s profitability and benefit to obtain stronger financial condition of the Company. Thus, the Board of Directors has approved the receipt of

following quarter. Clause 5 To ensure that the model or method used in the stress test are appropriate to the current and possibly changing market condition, the securities clearing house shall access the

possibly changing market condition, the derivatives clearing house shall assess the appropriateness of the scenario, parameter and assumption used in the stress test on a quarterly basis or upon significant

sale purchase agreement with Thanasiri Group in May 2018. The condition precedent as specified in the agreement- such as the board of directors’ and/or shareholders’ meeting of the Company has approved

the Company As the potential of such assets is not in accordance with the Company’s development direction; therefore, it is deemed appropriate to dispose such asset, which will provide the fund for the

effective in 2019. 2.2 The decrease gross profit margin in the remaining portion resulted from the Indirect costs, most of which are fixed costs, were not decreased in the same direction of Sales. Gross

goods sold and expenses 1,259.81 1,400.20 -140.39 -10.03% The overview of cost of goods sold and expenses of the year 2019 was in the same direction when comparing to the last year with the fact that the

that the business operation of the palm oil trading company has Proceed in a good direction Please be informed accordingly. Yours sincerely Mr. Jirat Trirakulchai Managing director