rights of APC business operation, including all benefits related to transferred assets. UAPC has started operation since 1 May 2015; then, 2015 operating results has started from May - December 2015

directors to bind the Company or any person authorized by such directors to have the power to negotiate and determine the details, terms and conditions and other procedures for the benefits of the acquisition

to supply such items for others if the capacity is available at any point of times to maximize the benefits and lower production costs in the long run. The new factory is expected to commence the

liabilities, Deferred tax adjustment and expenses relating to employee benefits 3 Adjusted EBITDA is calculated from EBT plus Finance cost, Depreciation and Amortization, Interest income from Loan to JVs and

is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on disposal of an asset is included in profit or loss when the asset is

’ benefits with the suggestion for Company to pay attention to adverse social impact on quite a number of students who have on-going studied in the school located on the land proposed to sell. The Company plan

Limited Q4’18 and FY18 Management Discussion & Analysis 27 February 2019 Q4’18 and 2018 Management Discussion & Analysis Page 3/7 The success of our small brands with herbal benefits help stabilizing

and 2019, the Company recorded tax expenses of THB 35.3 million and 5.7 million, a decrease of HB 5.7 million, or 83.9% which was mainly due to tax benefits received from the Board of Investment of

exceed 11 years. 7. Benefits to the Company from the Transaction 1) To expand the scope of the operation of business from the furniture production and distribution, the main business, to the related

(Equity IRR) of not lower than 11.66 percent per year with the payback period not exceed 11 years. 7. Benefits to the Company from the Transaction 1) To expand the scope of the operation of business from