. This was due to lower short term loan requirement during the year resulting from the lower trade accounts receivable. In 2018 the transaction in other comprehensive income was Actuarial gain less income

as well as lower sales proportion in Branded domestic sales which contribute high gross margin as the Company sold in less to help dry stock at trade stores for new packaging launch in Q3 as earlier

due to the lower trade accounts receivable. 4 The quality of assets Trade account receivables Unit: Million Baht Consolidated financial statements 30 June 2019 31 December 2018 Trade account receivables

year, which the change was mainly from; • Trade account payable amounted to 30.84 million baht, decreased by 3.94 million baht or 11.33% due to lower raw material reserves. • Provision for long-term

cash and cash equivalent at 40.25 million baht, up by 19.05 million baht. This was in line with the lower volume of trade receivables due to better quality of trade receivables in terms of debt payment

% decreased from Baht 4.0 million of Q2/2017. This was due to lower short term loan requirement during the quarter resulting from the lower of both average trade accounts receivable and inventory. As a result

THB 11 million (or -0.2%) from 31 December 2018 primarily from lower trade and other payable of THB 176 million which was offset by higher income tax payable of THB 160 million. As of 31 March 2019, the

11mn. This was primarily attributable to lower trade & other receivables of THB 84mn which was offset by the increase in cash and cash equivalents of THB 68mm. Total non-current assets stood at THB

of the liabilities was from lower of trade accounts payable due to lower prices of raw materials, offset with higher * Note Please find further information in the consolidated financial statements. 5

balance of short-term loan was Baht 575 million versus 556 million as of Q1/2018 or equivalent to 3.28% decreased resulting from the lower level in both average trade accounts receivable and inventory. The