OPEX would continue to decline 1.6% YoY following ongoing cost management. In summary, EBITDA amounted to Bt37,903mn, increasing 10% YoY. EBITDA margin ( excluding equipment rental) improved to 47.0%, up

net profit margin 2) higher depreciation resulted from additional investments in plant, machinery, and office renovations to improve production efficiency and reduce production cost, in order to prepare

initiatives and cost transformations. The majority are initiatives focused on sales excellence and operational excellence, allowing us to provide better value propositions to our customers and improve overall

due to the allowance for doubtful accounts from debtors. However, the Company has improved its operations as details below. 1. Quality customer selection, the Company has revised the credit approval

procurement thanks to a decrease in the cost of copper, implementing artificial intelligence technology (AI) in the workplace to improve the production process and efficiency, and reducing the Company’s

and electronic sector, while non-durable goods sector was marginally increase. Domestic demand slowly improved in all sector as regular income. As a result, domestic industries expanded and business

improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. It is

currency on the importation of seaweed approximately of 38.6 million. However, Net Profit margin for the year 2018 could be improved from 1) New cost structure including seaweed price and utilization rate 2

million or increase 232.3%, due to the company has improved its production efficiency and gain from sale of flexible packaging. 3. Selling expenses In year 2017, the selling expenses was Baht 9.96 million

: Improve auditor independence (Imhoff, 2003) and the quality of financial reporting (Blouin et al., 2007). Literature review- Audit firm reputation and audit firm change From the United States regarding