lower than sales declining rate resulting from the risen in gross profit margin from 6.99% in Q1/2017 to be 8.22%. This was due to the tight supply in some products of Specialty and Engineering Polymer

export sector, especially the agricultural sector. 3. WATER SITUATION As of 31 January 2020, the water supply situation in Chonburi and Rayong were in water shortage warning level. Water supply in the

importance for Golden Lime: the limestone quarry operated by TMC has already been one of the raw material suppliers in the past, but Golden Lime Public Company Limited 3 MANAGEMENT DISCUSSION AND ANALYSIS FOR

"). Calculation based on the criteria by using the highest value calculated from one of criteria, we found that such transaction has the highest transaction size as the total value of consideration criteria of

supply. Consequently, this resulted in much healthier demand for Natural Fatty Alcohols than quarter 3/2016 as its price decreased to a lower level than that of Synthetic Fatty Alcohols as well as the

ended 30 June 2020 2 | P a g e *Value may differ by one decimal point due to rounding Highlights 1/ One-time expenses in 6M/2019 were resulted from the employee retirement benefit (net after tax) in Q1

one position in functional drinks market for four consecutive quarters since Q3’18. Despite C-Vitt’s supply constraint as the production line undergoing maintenance for debottlenecking during May’19

cost from relocating some product from the old production line to the new one; 4) higher excise tax as well as sugar tax following the Excise Act, B.E. 2560, effective since 16 September 2017; 5) higher

forecast. Exports of goods would decline in line with trading partner economies and potential impacts of regional supply chain disruptions.*  However, the Company sees that the lower interest rate also

declined SGA (-15% yoy, -6% qoq). Our reported NPAT was 7bn, +0.6% yoy and +6% qoq. Excluding one-time items, normalized NPAT was 6.6bn, -5%yoy and flat qoq. Focused on 5G leadership in network and customer