were calculated based on The Stock Exchange of Thailand’s formula. MANAGEMENT OUTLOOK This year, VGI celebrates our 20th anniversary unveiling a new vision: “Pioneering Solutions for Tomorrow”. We have

/Equity Ratio 0.78x 0.78x 0.70x Net Interest-bearing Debt/Equity Ratio 0.64x 0.64x 0.58x 1 Net profit margin is calculated by dividing the Net Profit attributable to Owners of the Parent by Revenue from

mainly resulted from the increasing Methanol price, calculated according to the ME EPPO price formula. Compared to 9M/2017, the CPO price in 9M2018 declined due to the increase of palm production and stock

share capital” in statements of financial position as of 30 September 2018.  Financial ratios were calculated based on The Stock Exchange of Thailand’s formula. MANAGEMENT OUTLOOK During the past decade

0.75x 0.69x Net Interest-bearing Debt/Equity Ratio 0.65x 0.58x 1 Net profit margin is calculated by dividing the Net Profit attributable to Owners of the Parent by Total Revenue and Share of Profit and

2019, the company had the financial costs increased by 7.34 million Baht or equivalent to 7.73% due to the year 2019 the company calculated Calculate interest at default rate Therefore, the financial

calculated as a percentage) . Transaction size is larger than 20 million baht and is considered as connected transaction of the listed companies as specified in The Notification of The Capital Market

Exchange Gain/Loss and related tax, impact from TFRS 9 and TFRS 16 Accounting Standard and one-time accounting adjustment. 9 Net profit margin is calculated by dividing the Net Profit attributable to Owners

1 Calculated from operating revenue 2 Net Profit attributable to equity holders of the Company/ operating revenue 3 Net Profit (Annualised) / Average Total Shareholders’ equity (average of outstanding

Adjusted EBITDA is calculated from EBT plus Finance cost, Depreciation and Amortization, Interest income from Loan to JVs and deduct Interest income, unrealized loss from exchange rates and non-recurring