+ Time value 𝑆 − 𝐾 for call option 𝑐ℎ𝑎𝑛𝑐𝑒 𝑜𝑓 𝑆 − 𝐾 𝑏𝑒𝑓𝑜𝑟𝑒 𝑒𝑥𝑝𝑖𝑟𝑦 Too complicated for or misunderstood by naive investors. Fixed at issue and then guided when trading by Brokerage

7.46% compared to last year. The change was also inline with a rise of sales whereas the gross profit margin of this six month- period ended June 30, 2019 tend to have a good potential of 21.20% while

September 30, 2019, the Company and its subsidiary had a rise in cost of sales of goods by 6.14%. The change was also in line with a 5.01% rise of sales. One more reason is from the lessen in screw flight’s

focus from various stakeholders. Leading & significant future trends Environment, Social and Governance (ESG) Movement & agenda Dematerialized world – the rise of Intangible capital 3 Increasing

, respectively. The rise was mainly driven by growth from overseas business and also domestic sales of a new product, carbonated canned green apple flavored Carabao in 180ml (“Carabao Green Apple”), launched

last year. The amount increases were mainly driven by the rise in personnel expenses, cost of services to customers, depreciation expense, and marketing expense. However, SG&A as a percentage of sales

Metropolitan Area (BMA), 18 projects in the provinces, and 1 project overseas), 30 food centers, 7 office towers, 2 hotel properties, 1 residential property (totaling 11 units), 3 high-rise residential projects

same period of previous year. The amount increased were mainly driven by the rise in personnel expenses, rental cost, maintenance cost, and marketing expense. However, SG&A as a percentage of sales has

, 4 high-rise residential projects for sale (totaling 1,677 units), and 1 low-rise residential project for sale (totaling 71 units in all phase), which includes the properties transferred to CPN Retail

160.69 million or up by 4.85% as compared with the previous year. The amount increases were mainly driven by the rise in personnel expenses, cost of transportation, cost of services to customers, marketing