decreased by 18.0% in order to support festive and seasonal sales demand • Allowance of the decline in value of inventory decreased by 80.0% from obsolete and long aged finished goods • Selling expenses

2.2 million, increased by 150.6% due to provision of obsolete and long-aged finished products. Ocean Glass Public Company Limited Page 3/4 Management Discussion and Analysis  Selling and Administrative

inventory presented at Baht 6.0 million, increased by 361.6% due to provision of Crystalline cullet and provision of obsolete and long-aged finished products.  Selling and Administrative Expenses Selling

with QoQ. This is due to the decrease in write off obsolete finished goods and better control. The Company reported shutdown expenses for inventory management against sales volume at Baht 15.7 million

decreased by 57.9% from obsolete and long aged finished goods Six-Month Period • Total cost of goods sold decreased by 12.6% along with declining in sales value • Selling expenses decreased by 14.5% due to

million, increased by 3.2% mainly due to writing off the obsolete finished goods. As a result, the company reported net loss of Baht 8.1 million compared with a profit of Baht 6.6 million in the same

by 8.9% from the marketing activities expenses. The administrative expenses reported at Baht 28.8 million, increased by 4.1% due to writing off the obsolete finished goods and raw materials. Shutdown

from foreign exchange. On a QoQ basis, total revenues dropped 56% with a decrease in net profit of 62%, as there was a (non- recurring revenue) recognition of the 50-year lease upfront payment of a

. According to ISITAs data, total apparent finished steel consumption of Thailand for the first 6 months of 2017 was at 8.3 million tons, decreased by 16.4% compared to the same period of last year, while flat

Company have neither ability to manage finished goods (HRC) nor trade negotiation. Due to the Company had no choice but necessary to sell them just for generating income circulating used in the business