construction materials and the risen of wages; and (2) The Company has been unable to obtain the financial support from financial institutions since 2015 due to major legal cases derived from the negative impact

, sales expenses to sales revenue ratio escalated moderately from 35.78% to 52.07% as the Company incurred additional expenses from its marketing. Table 7: Sales Expenses by Type of Expenses for the Six

nationwide for these new products. Additionally, marketing efforts were put continuously in the Philippines. Consequently, sales expenses to sales revenue ratio escalated moderately from 37.80% to 54.87% as