unchanged. Administrative Expenses The Company has the administrative expenses in the first quarter in the amount of 78.5 million Baht or equal to 7.1 percent of the revenue from sales. The ratio between

supply. Consequently, this resulted in much healthier demand for Natural Fatty Alcohols than quarter 3/2016 as its price decreased to a lower level than that of Synthetic Fatty Alcohols as well as the

B7, which increased from B3, B5 and B7 in previous year. Fatty Alcohols(FA) market in 2017 had improved from previous year, driven by demand for Natural FA since its price could compete to Synthetic FA

industry reports published between 2007-2019 (2) Zerbib, O. (2019) Global 1,065 green bonds and 2 synthetic conventional bonds for each green bond issued between 2013-2017 (18) Kapraun, J. & Scheins, C

rate, write-off/impairment of asset, etc. Being relatively unchanged compared to that of the preceding quarter, SG&A in 3Q17 increased by 71% YoY, mainly due to three distinct sources: a) Additional SG&A

TSE remained unchanged where the Company used Equity Method. This was because the Company maintained significant influence over TSE as the Company had its representative as authorized director of TSE

unchanged. This makes the expense of the same. Please be acknowledged for your information Yours Sincerely (Mr.Wanthana Jaroennawarat) Director

unchanged from previous year despite the decrease of SW income . Non-SW income has more than offset the unfavorable SW income while cost has been under control. Page 3 of 4 Statement of Financial Position as

profits remain unchanged. Revenue from Sales The company has revenue from sales in the fourth quarter in the amount of 1,416.8 million Baht increased by 1.0 percent compared to the same quarter of the

%, respectively. The higher ratio on a period-on-period basis was attributable to the Company has some fixed costs that unchanged irrespective of the revenue in the first quarter of 2017. Selling expenses The