the revenue based on the past operating results and taken into account the average growth in spending in the industry.  Therefore, the Board of Directors is of the view that the assumption of revenue

multitude of factors, which among other things includes the government's budget spending, private investments, manufacturing and export sectors, and the capital market conditions. In 2006, the Thai economy

the second half of the year. However, government expenditure was slightly decline as well as the contraction on agricultural and construction sector. The Thai economy in 2018 is expected to expand more

shareholders’ equity. 4.2 Capital expenditure In the year 2018, the Company had capital expenditure for the replacement of electrical equipment and machine accessories amounted 17.82 million Baht. 7 /8 ( ) Union

from the year 2017. This is because the government expenditure budget focused on the infrastructure and transportation, while the expenditure in information communication technology did not increased

Equity ratio 0.11 times, lower than that of 2016, i.e. 0.16 times, indicating low relative proportion of debt and shareholders’ equity. 4.2 Capital expenditure In the year 2017, the Company had capital

Quicklime in 1Q 2018. Investments in capital expenditure have also reduced significantly with continued focus on Capex discipline. There will be increased expenditure in the coming months however this is

line with the increase in revenue from sales due to the fixed cost of expenditure on factory staff and erection staff that was not able to occupy full capacity and the expenses for the erection was

comparison with the previous year, due to the delay approval process of budget expenditure of the government for the 2020 fiscal year. • Revenues from sales and beauty treatment services for the year 2019 were

the budget disbursement for the year 2020 remaining period. Including, restructuring of the expenditure budget for economic recovery through the Transferring of Budget Act 2020. However, the investment