MANAGEMENT DISCUSSION AND ANALYSIS FOR 2017 2 2. ECONOMIC SITUATION Thai economy continually expanded supported by every economic engine especially merchandise exports that were uplifted from global trade

Analysis | 2 Executive Summary In 3Q2018, domestic palm oil production has increased as in other countries, in addition, stock of Crude Palm Oil (CPO) both in Thailand and International market has remained

which increased by 427.16 million baht or 16.04% from the same period in 2017. This was the result from the sales revenue of Sabina-brand increased by 364.19 million bath. The sales revenue from OEM

(the “Company”) would like to clarify in operating performance of year 2019 ended December 31st 2019. The Company’s net profit was Baht 133.38 Million which increased Baht 27.83 Million or 26.37

115.30 29.85 385.15 245.68 (5.68) For the third quarter (July - September) - Business producer of ready-to-drink milk, drinks and fruit juices had increased income from last quarter 2016 amount Baht 28.95

115.30 29.85 385.15 360.99 24.16 For the third quarter (July - September) - Business producer of ready-to-drink milk, drinks and fruit juices had increased income from last quarter 2016 amount Baht 28.95

increased by 279.77 million baht or 11.74% from the same period in 2016. This was the result from the sales revenue of Sabina-brand increased by 271.83 million bath. The sales revenue from OEM department

“Company”) would like to clarify in operating performance for the 2nd quarter (three months period) ended June 30, 2019. The Company’s net profit was Baht 74.50 Million which increased by Baht 42.78 Million

of Baht 2.43 Million an increased of loss Baht 1.89 Million or 77.78%. The reasons for such decreases are:- - Sale increased from Baht 248.23 Million in Q2/2017 to Baht 275.33 Million in Q2/2018 an

“Company”) would like to clarify in operating performance for the 2nd quarter (three months period) ended June 30, 2018. The Company’s net profit was Baht 31.72 Million which increased Baht 19.61 Million or