revenue dropping by 1% as some of the synergies of integrating Saraburi Quicklime start to take effect. Looking at H1 2018 vs H1 2017 SG&A as a percentage of revenue remained constant. On the COGS side

Equity ratio as of August 31, 2018 remained constant at 3.9 times. Return on Equity (ROE) and Return on Asset (ROA) for six month period are 21.6% and 4.3%, respectively. The Company also announces to pay

as of November 30, 2018, remained constant at 3.9 times. Return on Equity (ROE) and Return on Asset (ROA) for nine month period are 21.5% and 4.3%, respectively.

constant. 3.3 Selling expenses and Distribution expense Selling expense and Distribution expense was increased from the year 2018 in an amounting of Baht 8.77 million or 29.18 percent. Mainly came from

the year 2019 in an amounting of Baht (3.87) million or (10.39) percent. Mainly came from growth of revenue in last year while fixed cost still constant. 3.3 Administration expenses The Group's

August 31, 2019 remained constant at 3.7 times slightly decrease from 3.8 times at the end of 2018. Return on Equity (ROE) and Return on Asset (ROA) for six month period are 20.6% and 4.3%, respectively

่ ่กำหนดราคาหน่วยลงทุนคงที ่ (MMF constant NAV) และโครงการจัดการลงทุนต่างประเทศ เช่น ASEAN CIS และ ARFP เป็นต้น ห้ามยื่นขออนุมัติเป็นการทั่วไป ทั ้งนี ้ หากพบว่า บลจ. ยื ่นคำขออนุมัต ิจ ัดตั ้งโครงการแบบเป็น

2018, and planned to expand the scope of its crude palm oil business, which will help boost the revenues and ensure the Company’s constant operating results. 3.2 Calculation of Transaction Size 3.2.1

adjustments than firms with Big 4 auditors. The interpretation of the results can be in both client and auditor factors. For client factor, holding auditor factors constant, the interpretation can be that firms

% utilization rate. While material cost lowered, coinciding with cassava price direction; the main ingredient, from the constant rain. As a result, Ethanol Fuel Business EBITDA was recorded at THB 74 million (+81