not able to cover selling and administrations expenses of the Company. In addition, in 2017 the company had realized gain from debt restructuring by converting major portion of trade debts into equity

portion of trade debts into equity and gain form exchange rate which those non-cash revenues were high at Baht 1,045 million while this year the company has such non-cash gain only Baht 225 million. From

. The ratio of SG&A to revenue slightly decreased to 29.9% (prior year: 30.2%). EBITDA was bolstered in particular by the positive performance and climbed considerably to 43.9% YoY from THB 352mn to THB

% Accrued expenses 571 5.9% 641 3.2% Current portion of long-term loans from financial institutions 44 0.5% 47 0.2% Other current liabilities 918 9.5% 1,239 6.2% Long term loan 1,489 15.5% 1,465 7.3% Other

Thai economy in the third quarter of 2018 had a positive trend in line with the expansion of world economy. The continuous growth from export sector and the implementation of advanced technology in

economy. For domestic sector, private consumption and private investment also showed positive signs with private consumption recovering strongly in the durable goods segment (especially in vehicles) and

products that offer well-perceived quality at reasonable prices. We believed that the notable Carabao brand is well imprinted among targeted customers and the positive feedback in term of sales of both the

payment for the 1st portion of THB 39.86 million, equivalent to USD 1.17 on 4 January 2018 Please be informed accordingly. Yours sincerely, (Mrs. Araya Kongsoonthorn) Chief Executive Officer

limitation, the unit sale for capital increase, and the borrowing with limited purposes and portion. The SEC encourages the public and stakeholders to read the background documents and participate in the

pipe. Currently the Company holds portion of 25% of paid-up capital. After the waiving, the Company's portion of holding share will reduce from 25.00% to 15.15% of paid-up capital. This transaction is