. Analysis of Cost and Expenses 1. In Q2 2017, Cost of sales was 3,632 MTHB, increased by 127 MTHB comparing to 2016 or 3.6% due to the increase of sales volumes and higher Glycerin costs from tight market

(507) (719) 212 -29% (387) (610) 224 -37% Gross Profit 168 229 (61) -26% 108 172 (64) -37% Other Income 23 2 21 1351% 32 10 22 209% Distribution costs (62) (88) 26 -30% (48) (67) 19 -28% Administrative

regulations to remain only those necessary and consistent with current situations. These efforts aim to strengthen business sectors’ competitiveness, and reduce operating costs of private sectors and burdens

act or omit from any act: (1) there is a ground to deliberate that such rules or conditions to be waived are immaterial to the deliberation of the approval, and costs outweigh benefits derived from

%) (937.5) (72.0 %) (21.6 %) Gross Margin 277.0 27.4 % 364.5 28.0 % (24.0 %) Distribution Costs (99.7) (9.9 %) (197.2) (15.1 %) (49.5 %) Administrative Expenses (69.5) (6.9 %) (63.2) (4.9 %) 10.0 % Profit

% Administrative expenses (26.21) (39.92) (13.71) 52.31% Share of profit of investments in associate 0.09 0.13 0.04 46.78% Finance costs (0.26) (0.34) (0.07) 28.01% Profit before income tax expense 86.37 113.36

99.23% Other income 6.46 6.56 -0.09 -1.43% Total revenue 228.70 118.10 110.59 93.64% Expenses Costs of sales of immovable property 199.25 64.53 134.72 208.77% Selling expenses 8.53 13.26 -4.73 -35.68

works and services 70.25 60.73 9.52 15.68 Total Costs of Sales and Services 162.73 177.34 (14.61) (8.24) Gross Profit 52.84 65.94 (13.10) (19.87) Other incomes 1.69 2.34 (0.65) (27.78) Distribution costs

the Outrigger Hotels in 2018 and other projects amounting of THB 5,357. 8 million. For the nine months September 30, 2019, financial costs for loans from related parties was THB 151.7 million. The

ratios stood at 68.47% and 72.47%, respectively. The higher ratio on a year-on-year basis was attributable to the Company having some costs in depreciation, personnel, drugs and medical supplies