decreased by 41.81%, the sales volumes were decreased as to the Company is currently not selling Crude Glycerine since October 2018 in order to use them in commissioning Refined Glycerine Plant, which

and have undertaken in guaranteeing minimum EBITDA of the REIT, thus, their significant risk and reward were not transferred to the buyer. However, during the period 2019, the Company has reconsidered

increase in operating revenue while corresponding expenses did not increase significantly. Management Discussion & Analysis Q2/2019 1H/2019 Significant Events After You Successfully Opened 6 Branches in 1H

rate of tariff for importing products from China. However, the global economy still has continuously growing up. While Thai’s economic has trend to growing lower than expectation, Not only exporting

overseas sales not only will diversify country portfolio but also raise brand awareness of the Carabao energy drink both in Asia and outside Asia aligning with the Group’s vision of “World Class Product

million, which was higher than the net profit before tax by Baht 100.61 million due to the transactions that did not affect the cash such as depreciation of assets and amortization of Baht 59.61 million and

audience throughout the entire customer journey. Back in 2017, although VGI had considered various sources to assess the size of the advertising market, it was not able to obtain consistent information as

shelters on the land, bought by the Company in 2016 with the purpose to raise and breed the Company’s excess animals, were not able to proceed as planned. The development was prolonged until the additional

million, which was higher than the net profit before tax by Baht 44.14 million, due to the transactions that did not affect the cash such as depreciation of assets and amortization of Baht 118.81 million

not connected persons of the Company or the Buyer as (1) directors and management of the Company; (2) authorized controllers; (3) major shareholders; (4) persons to be nominated as management or