price of the shares must be at a fair value valuated by a financial advisor, who is approved by SEC and independent from the offeror; (c) there must be an independent securities company giving advice

;                    (2)  Determining the approval application fee for an appraisal company to be 50,000 baht and for a lead appraiser to be 10,000 baht per 5 years, instead of per 2 years at present, resulting in

action process to decrease the proportion shareholding in beauty business to reduce the negative impact to the Company. The Company; therefore, has a plan to acquire land and buildings to do the new

[COMPANY NAME] Ref.: EFORL IR008/2019 March 7, 2019 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2018 To President The Stock Exchange of Thailand 1. Overview financial

. But the park reopening of the company cannot reduce costs as much as the number of tourists decreases since the park offer the show performance on a fix basis (1 show per day). Therefore, the decrease

which are fixed cost still exist and not variable to the income such as animal feed, utilities, water-electricity bill. Therefore, the company has managed to reduce some unnecessary expenses during the

of the Company’s shares. However, the dilution UAPC’s shares held by the Company will reduce the realized profit of the Company from UAPC from 100% to 63.75%. 11. Opinion of the Board of Directors and

biodiversity, which could impact business operations. Therefore, understanding and integrating biodiversity into sustainable business practices will help reduce risks, create new market opportunities, and

MB. As the company has complied with efficiency management plan that help company reduce costs of sales and selling expenses. Please be informed. Yours Sincerely, Mr. Panya Boonyapiwat Chairman

company to reduce credit guarantee to International Commercial Coordination (Hong Kong) Limited from HKD 1,500,000.- to the balance amount of HKD 500,000.- to Bangkok Bank Plc. (Hong Kong branch), according