Value of net tangible assets method (NTA) Transaction size = NTA of investment in the Company x The acquired proportion x 100 NTA of the Company = (35.55 X 85.65%) X 100 191.61 = 15.89% (2) Net Profit

. Therefore, the Company viewed this investment as reasonable and appropriate. 5. Total value of consideration. The company will pay IGEN-ENERGY ordinary shares in proportion to the purchase amount of 40

, while personal expense of the Company increased by only 5% y-y. In terms of proportion to total revenues, operating and administrative expenses represented 42% of total revenues, which is the same level

) respectively. Page 4 of 8 For the income proportion separating by business structure consisted of Aviation refueling services at 81% and Fuel pipeline transportation services at 19% respectively. 1.1.2 Others

. In terms of proportion to total revenues, operating and administrative expenses represented 42% of total revenues. Considering the Company’s separate financial statement, the operating and

EBITDA increase did not translate fully into net result in the same proportion. Still, the net income was higher for the quarter as the full impact of Saraburi Quicklime was felt and this trend is set to

) Dividend Income. Share of Profit is a net profit in proportion of our equity stake (%). Such Share of Profit is net of all relevant costs in the Associates or Joint Ventures. Projects under Construction

investment in CKP from investment in associated company to investment in available-for-sale securities, which consistent with the investment proportion and the purpose of the Company investment. The Company

volume of the Group. For the income proportion separating by business structure consisted of Aviation refueling services at 80% and Fuel pipeline transportation services at 20% respectively. 1.1.2 Others

proportion. Still, the net income was higher for the quarter by 30% versus 2017. Golden Lime Public Company Limited 6 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 SEPTEMBER 2018 3.2. Assets