cost such as marketing expenses considering unfavorable market conditions, significant decline in revenue, only a marginal decrease in some type of fixed cost such as land rental fee and depreciation

Review of high-frequency trading and dark liquidity, ASIC 2015 Variable name Variable description intraday_volatility Standard deviation of 15-minute price returns month_volatility The one month running

unfavorable condition of the Company’s traditional trade channel as the Company appointed a large-sized distributor for the channel since the first quarter of 2018 but later terminated the contract with the

% at constant FX rate. However, the reported numbers showed stable growth due to the unfavorable FX impact. Beverages Segment Domestic beverages net sales were at THB 4,388 million, THB 171 million

the previous year due to an unfavorable condition of the Company’s traditional trade channel as the Company appointed a large-sized distributor for the channel since the first quarter of 2018 but later

same period of the previous year due to an unfavorable condition of the Company’s traditional trade channel as the Company appointed a large-sized distributor for the channel since the first quarter of 2

an unfavorable condition of the Company’s traditional trade channel because of the terminated contract with the distributor, which was effective since 30 June 2019. Further in this year, the period

optimal level yet due to some unfavorable factors, e.g., timing or market opportunities. Therefore, the Company had to bear higher costs at the beginning, causing lower profitability than it should have

% as a result of unfavorable FX impact. Beverage Segment Total beverage revenues increased by THB 834 million (or +5.5% YoY) to THB 15,961 million in 9M’19. Domestic beverage net sales were at THB 13,154

price. The company terminated the Tolling Contract in January due to unfavorable market sentiment. From February onwards, the Company has to increase their production volume within their capacity of the