The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

quarter of 2017. Thus it will become more challenging for the global steel industry participants in all the regions. Careful estimation for raw material purchasing and production cost management is

all the regions. Careful estimation for raw material purchasing and production cost management is seriously needed in order to cope with the more dynamic business environment. Management’s Discussion

turn back increasing continuously until the second quarter of 2017. Thus it will become more challenging for the global steel industry participants in all the regions. Careful estimation for raw material

, ICUK’s business plans aim to entail further penetrations in more modern trades, careful allocation of marketing and promotional budgets to spur growth through priority channels, strong push of product

the global steel industry participants in all the regions. Careful estimation for raw material purchasing and production cost management is seriously needed in order to cope with the more dynamic

modern trades, careful allocation of marketing and promotional budgets to spur growth through priority channels, strong push of product sampling experiences among the target group to attract the trials for

the regions. Careful estimation for raw material purchasing and production cost management is seriously needed in order to cope with the more dynamic business environment. The raw material reference

for the global steel industry participants in all the regions. Careful estimation for raw material purchasing and production cost management is seriously needed in order to cope with the more dynamic

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