materials during Q3/2017, therefore, COGs per revenue still increase 2% to 82%, comparing to 80% of last year. o Regarding to fierce price competing, company faced with difficult situation in price adjustment

than that in Thailand around 20%-25%. Thus, the Company could expand and increase the percentage of market in India, and profit margins for competing competitive products. However, in the past 2-3 years

production in India is lower than that in Thailand around 20-25 percent. Thus, the Company could expand and increase the percentage of market in India, and profit margins for competing competitive products

cultural theme park in Asia and No. 3 of the World. This is also strengthen the ability of the group companies for competing in the tourism industry. The reason Carnival Magic uses the design and build

accommodate large number of tourists effectively with the goal of being No. 1 cultural theme park in Asia and No. 3 of the World. This is also strengthen the ability of the group companies for competing in the

of dispute regarding the competing road with the Udon Ratthaya Expressway which Northern Bangkok Expressway Company Limited (NECL), the subsidiary of the Company, requiring Expressway Authority of

of time and at a higher rate than other currencies in competing markets, especially China. Despite the increase in raw material price and the baht’s strengthening, the Company was capable to maintain a

project in Patong Phuket Patong project in Patong Phuket is worth Baht 1,800 million. The Company has the idea of developing land and utilities, roads, water systems, electricity and recreation in this

The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

and utilities, roads, water systems, electricity and recreation in this large area. (Which is under construction and design) to become a tourist center. There will be land and utilities development by