LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1/2018 2 2. ECONOMIC SITUATION Thai economy in Q1/2018 continually expanded, supported by every economic engine especially merchandise exports, which were

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PE, while such PE must invest in government supported businesses under the specified conditions, which must be 1) technology-based business creating added value, 2) business that enhances

investment to more proactive approach supported sufficiency of retirement savings, especially to start saving at a young age and increase investment proportion in risky assets, such as shares to achieve longer

access into funding sources. Meanwhile, SEC wishes to increase alternative financing resources for SMEs and startups, apart from equities. Thus, it has supported the issuance of the regulation for

in social affairs. The Ministry of Finance has also supported this project by providing tax privileges to firms that have hired students for these summer jobs (150% of the per diem paid to students may

results  In Q2/2018, the Company and its subsidiary recorded total sales of Baht 1,327 million, a decrease of 3% YoY, following a drop in export CMG sales. However, export branded sales jumped supported by

also resembles, while we will continue to improve on our journey to zero injuries. Operationally our continued focus on quality and services resulted in recognition from our customers in the form of

against the USD and EUR in the period. The increase in revenue was primarily due to volume growth of 6.6% Q-o-Q and 3% Y-o-Y that was supported by an increase in capacity from the Phase 3 at the new plant

supported by an increase in capacity from the investment in Phase 3 at the new plant, and the appreciation of the Baht. Cost of Sales and Gross Profit The profit margin increased slightly Q-o-Q, but dropped Y