with the Company, the “Group”) which engages in distribution of bakery products and equipment. Analysis of Financial Performance Business categories Operated by For the three-month period ended 30

Gross profit 94,309 91,490 83,320 10,989 13.2 Other income 2,454 2,858 1,453 1,001 68.9 Profit before expenses 96,763 94,348 84,773 11,990 14.1 Selling and distribution expenses 25,061 22,708 23,815 1,246

% 1,337 -1.0% Selling and distribution expenses 884 924 -4.3% 903 -2.1% Administrative expenses 438 338 29.6% 434 1.1% EBIT 1,098 973 12.9% 1,073 2.4% EBITDA 1,339 1,236 8.3% 1,342 -0.2% Profit for the

- - 0.22 0.25 0.22 100.00 Profit before expenses, finance cost and taxes 23.55 22.65 20.21 23.07 (3.34) (14.18) Distribution costs 1.58 1.52 2.04 2.33 0.46 29.11 Administrative expenses 9.79 9.41 10.47 11.95

) Profit before expenses, finance cost and taxes 20.21 23.07 30.55 25.73 10.34 51.16 Distribution costs 2.36 2.69 2.33 1.96 (0.03) (1.27) Administrative expenses 10.14 11.57 8.79 7.40 (1.35) (13.31) Profit

the management to cost of distribution and administrative expenses decreased from the change of strategy of the distribution channels in order to decrease cost and expenses from the past that the

and evaluate the assets of Hero Experience. Sims based its evaluation on the Discounted Cash Flow Approach, assuming that the business has been operating for 9 years on the area of 12,935 Square Meter

which require further construction due to an increase in useable area. The design also needs to be more details in order to ensure all areas of the project are satisfactory to the tourists and perfectly

are also parts which require further construction due to an increase in useable area. The design also needs to be more details in order to ensure all areas of the project are satisfactory to the

for sales staff, traveling and vehicle expense for sales staff, cost of advertisement media for product promotion, compensation paid to Zuellig Pharma Ltd. under the Distribution Agreement and