Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 031/2560 August 10, 2017 Subject : Management Discussion and Analysis for quarter 2-2017 To

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 1 Translation UWC 023/2562 August 16, 2019 Subject : Management Discussion and Analysis for quarter 2-2019

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 028/2018 August 10, 2018 Subject : Management Discussion and Analysis for quarter 2-2018 To

Microsoft Word - MD&A_E Q3_2562 ต้นฉบับ Management Discussion and Analysis: MD&A 1. Company Situation The company’s core business revenue for Q3/2019 has been going steady, no major increase or

Section 105 Securities and Exchange Act B.E. 2535 Section 105. A securities company shall prepare its accounts stating true and accurate business operation and financial condition, which must conform

diapers, the market remained steady. However, the Company still expanded the adult diaper market by cooperating with the minor diaper manufactures which are our customers, and we believed this market will

achieve diversified and steady cash flows. 8. Source of Funds The Transaction of USD 2 Billion will be funded from the Company’s own internal resources and the Company will enter into the bridge loan

using the company’s engineering knowledge to be used in creating new products and services. 8.2 A source of long steady stream of revenue with low risk. The management of the company is expecting to start

per ton (YoY) in an otherwise strong season. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in IVL’s core earn- ings follows on from IVL’s consistent strategy of prudent

impact was mitigated by economic stimulus and a steady influx of tourists. Efforts will focus on maintaining momentum in core service revenue. In the remaining quarter of the year, growth will continue to