customer perception. We continue to focus on delivering fair profitability balancing between short- and long- term drivers while keeping our solid financial strength. Market and Competitive Environment As

Solution is slower this year, which we expect to pick up in next quarter for jobs in the pipeline. Cost and Gross margin Cost of sales and services Jan-Sep 2018 Jan-Sep 2017 THB (m) Gross margin (%) THB (m

Australia to EGR Europe as delivery country. Gross profit margin decreased 4% duted to sold OEM project that high gross profit margin decrease, gross profit of Trading products decreased dued to Baht strength

Trading products decreased dued to Baht strength. - 2 - Selling and Administrative Expenses In the three-month period ended 30 June 2017 and 2016, total selling and administrative expenses of the Company

compared to the same period last year by gaining from dividend received. The financial structure of the Company was in the strength level and cash flow could be managed effectively, hence, there was no

decreased 15.49% dued to sold OEM project that high gross profit margin decrease, gross profit of Trading products decreased dued to Baht strength. Cost of sales and Services In 2017 and 2016, total cost of

is the Baht strength. Cost of sales and Services In the three-month period ended 31 March 2018 and 2017, total cost of sales and services of the Company increased from Baht 339 million to Baht 384

42.25 151.37 34.20 Gross margin increased by 805 basis point from 34. 20% to 42. 25% Gross margin in HR solution improved significantly by 931 basis point from 35.64% to 44.95% attributing to higher

MATCHING MAXIMIZE SOLUTION PUBLIC COMPANY LIMITED 305/12 Soi Sukhothai 6, Sukhothai rd., Dusit, Bangkok 10300 Tel : 0-2669-4200-9 Fax : 0-2243-1494, 0-2243-4124 MMS-AC62 / 018 December 23, 2019

“stable” outlook, which reflects the company’s financial strength as the key raw water provider with a comprehensive pipeline network in the Eastern Seaboard area, rising of water demand in the Eastern