competitive activity on the export markets. We continue to see the positive impact of our acquisition of Saraburi Quicklime, which we completed in late Q1 2018, and is having a full, positive effect on Q1 for

since the end of 2018, the HDD industry was impacted by the global economy as well as the pressure from the trade war between China and the US, resulting in main customers decreasing purchase orders and

came mainly from crude oil price rebound in 2018. And even with lower pressure on Glycerin price from growing market supply in the second half of 2018, full year average Glycerin price remained high

1,694.9 1,520.4 Net Profit 2,544.5 3,038.7 -16.3% 2,240.1 +35.7% 17.9% 22.0% 18.0% The year 2017 was another challenging year for KCE when construction of the new Lat Krabang factory was completed, and

the last few month since the end of 2018, the HDD industry was impacted by the global economy as well as the pressure from the trade war between China and the US, resulting in main customers decreasing

company’s name, registered capital, paid up capital, registration date and head office location after the establishment has been completed. 4. The Board of Directors noted that the original BOD approval for

competitiveness of industry peers is under pressure by the very strong Thai Baht, resulting in repatriation of capacity allocation. On the upside we addressed the market weakness with savings on the cost side, our

construction of the new Latkrabang factory was completed and production capacity of Phase 3 was partly expanded, which led to solid revenue growth and profitability. We still experienced a number of challenging

Company Limited 5 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 31 MARCH 2020 made to maintain the price despite competitive pressure which remains. The engineering business while still a slight drag

transaction completed, the Company will hold the GS both directly and indirectly total 46.00 percent of total paid-up capital of GS. The company foresees that the investment in HECH and GS will be used to