distribution to boost the ratio of regular income and match the needs of the customers who would like to have a home but have not made a decision to buy one. The emphasis has been put on university students

strong underlying performance as explained earlier. Figure 1: Core EBITDA Evolution V Note: Total of all regions may not match to IVL due to holding segment. Indorama Ventures 3rd Quarter 2018 MD&A 7

to match customers’ need, to draw customers’ attention and to draw traffic. 2. Cost of goods sold and gross profit 3Q19 and 9M19 gross profits represented 46.47% and 43.93%, respectively. Gross profits

engaged valuers to prepare valuation reports on such assets. The Board of Directors has considered such valuation and deemed it appropriate to determine the fair price for disposal of such assets (the “Fair

principle from the adoption can be summarized as follows:  Guidance on the classification and measurement of financial instruments at either fair value or amortized cost based on determination the type of

rate  Classification and measurements of financial instruments into following categories: Amortised cost, fair value through other comprehensive income (FVOCI) and fair value through profit and loss

follows: (1) Club and international football match sponsorship fees: Club and international football match sponsorship fees, recognized as expenses in accordance with payment terms, economic benefits and

had accounted for the fair value adjustment of the acquired business according to the accounting standards under WHA level. However, the genuine gross margin in the first quarter of 2018 was at 49.2

performance starting from 1 August 2018 after the measurement of fair value of Trans.Ad Group’s identifiable assets was completed. 2019 PERFORMANCE ANALYSIS (YoY) MACO recorded an operating revenue of THB

2 new investors in Pace Project One Co., Ltd. and Pace Project Three Co., Ltd., the Company engaged independent financial advisory firm to measure the fair values of investments in these 2