. Transaction size under net tangible assets (NTA) basis Transaction size = Equity Portion x NTA of WICE SG x 100 NTA of WICE and its subsidiary = 30% x 70,675 x 100 526,639 = 4.03% Remark: NTA = Total Tangible

615.91 510.75 105.16 21% Total non-current liabilities 234.54 343.81 -109.27 -32% Total liabilities 850.45 854.56 -4.11 0% Total shareholders equity 536.05 589.74 -53.69 -9% Total liabilities plus

632.37 510.14 122.23 24% Total non-current liabilities 221.78 340.91 -119.13 -35% Total liabilities 854.15 851.05 3.10 0% Total shareholders equity 487.29 589.74 -102.45 -17% Total liabilities plus

given the new kiln was not activated. 3.2. Assets, Liabilities & Shareholders’ Equity The main contributors to the increase in total assets are from an increase in property, plant and equipment due to

liabilities 226.98 343.81 -116.83 -34% Total liabilities 815.74 854.56 -38.83 -5% Total shareholders equity 507.36 589.74 -82.38 -14% Total liabilities plus shareholders equity 1,323.10 1,444.30 -121.21 -8

liabilities 175.71 6.65% 155.84 4.98% (19.87) (11.31%) Total liabilities 2,332.56 88.24% 2,210.34 70.62% (122.22) (5.24%) Total shareholders' equity 310.78 11.76% 919.43 29.38% 608.65 195.84% Total liabilities

128.78 58% Total liabilities 1,477.29 854.16 623.13 73% Total shareholders equity 487.36 487.28 0.08 0% Total liabilities plus shareholders equity 1,964.65 1,341.44 623.21 46% Golden Lime Public Company

Total Liabilities 597,662 48.1 529,145 46.3 68,517 12.9 533,244 43.4 479,762 42.35 53,482 11.1 Shareholders’ equity 645,901 51.9 613,010 53.7 32,891 5.4 695,488 56.6 653,202 57.65 42,286 6.5 Total

5.37 1% Total shareholders equity 608.04 589.74 18.30 3% Total liabilities plus shareholders equity 1,467.97 1,444.30 23.67 2% Golden Lime Public Company Limited 6 MANAGEMENT DISCUSSION AND ANALYSIS FOR

liabilities 9.45 9.36 0.09 0.96% Total liabilities 563.47 623.32 (59.85) (9.60%) Shareholder’s equity 2,462.96 2,335.29 127.67 5.47% Total liabilities and shareholder’s equity 3,026.43 2,958.61 67.82 2.29