effect of the widened Crude premium over Dubai, as well as the lowered oil product spread over crude oil price. There was an Inventory Loss of THB 70 million, and GRM hedging loss. Marketing Business Group

4.67 Average collection period days 75 77 77 Inventory turnover times 4.78 4.90 5.13 Average inventory turnover period days 75 74 70 Account payable turnover times 5.42 5.21 5.00 Average payment period

revenue from sale Baht 1,548.15 million, increased from last year Baht 5.73 million or 0.4%.  Gross profit increased from 43.6% to 44.4% of revenue from sale, as a result from improvement of inventory cost

times 4.81 4.82 4.70 Average collection period days 75 75 77 Inventory turnover times 4.42 4.78 4.90 Average inventory turnover odperi days 81 75 74 Account payable turnover times 5.66 5.69 5.49 Average

million, mostly from profit sharing from investment in BBF decreased. Since crude palm oil price has declined, B100 price consequently declined and BBF had to realize an Inventory Loss.  Decrease of

dividend payment in February. Inventory decreased by Baht 9.66 million. Other assets decreased by Baht 14.76 million from deposit payment for fixed assets that were received and transferred to fixed assets

Discussion & Analysis 14 May 2019 Q1’19 Management Discussion & Analysis Page 5/6 Financial Ratio Analysis Q1'19 Q1'18 Liquidity Ratios Current ratio (times) 2.4 0.6 Number of days of inventory 32 39

some problems incurred in collection of receivables, the individual allowance for doubtful accounts is provided with monthly payments which are made on a monthly basis. Inventory Turnover in this

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

of selling fan increase THB 17.23 million due to the Company reported for loss from inventory devaluation THB 9.96 million, report in cost of selling. The Gross Profit Margin has decreased due to the