LIMITED JMT NETWORK SERVICES PUBLIC COMPANY LIMITED JSP PHARMACEUTICAL MANUFACTURING (THAILAND) PUBLIC COMPANY LIMITED JUBILEE ENTERPRISE PUBLIC COMPANY LIMITED K&K SUPERWHOLESALE HATYAI 2009 PUBLIC COMPANY

LIMITED JD FOOD PUBLIC COMPANY LIMITED JENKONGKLAI PUBLIC COMPANY LIMITED JKN GLOBAL GROUP PUBLIC COMPANY LIMITED JMT NETWORK SERVICES PUBLIC COMPANY LIMITED JSP PHARMACEUTICAL MANUFACTURING (THAILAND

in manufacturing activities. Nonetheless, Thailand’s recovery has gained a firmer ground with tourism-related sectors benefiting from China re-opening its border faster than expected since the

producing region was the European Union (EU), with 126.4 million tons, equivalent to 4.1% increase compared to the same period of 2016. 4. Industry Overview and Outlook Management’s Discussion and Analysis

board approved the investment in water production and sales to the Provincial Waterworks Authority, for 2 projects, with the capability of producing 31,200 cubic meters per day, and all together 113.88

% 21.0% 39.3% 40.3% 40.9% Dec'18 Sep'18 Dec'17 Million Baht Loans by Business Type * December 2018 September 2018 December 2017 Change (%) September 2018 December 2017 Manufacturing and commercial 819,481

of IRPC-CP and ISP1 after start-up operation in Q4/2017 and the increase in revenue of the Combine Heat and Power Producing Company Limited (CHPP) from solar panel installation services on gas station

focus on producing and selling big bags which VAVA has skill, investment and high proportion of income. Most of the customers of VAVA are large industry that uses big bags to transport goods, meanwhile

person under the private placement scheme because VAVA wants to focus on producing and selling big bags which VAVA has skill, investment and high proportion of income. Most of the customers of VAVA are

part of the 3E project (Efficiency, Energy, and Environmental Project), lowering the cost of producing electricity and steam 9 | Management Discussion and Analysis of Business Operation for the year 2017