as of November 30, 2018, remained constant at 3.9 times. Return on Equity (ROE) and Return on Asset (ROA) for nine month period are 21.5% and 4.3%, respectively.

constant. 3.3 Selling expenses and Distribution expense Selling expense and Distribution expense was increased from the year 2018 in an amounting of Baht 8.77 million or 29.18 percent. Mainly came from

the year 2019 in an amounting of Baht (3.87) million or (10.39) percent. Mainly came from growth of revenue in last year while fixed cost still constant. 3.3 Administration expenses The Group's

August 31, 2019 remained constant at 3.7 times slightly decrease from 3.8 times at the end of 2018. Return on Equity (ROE) and Return on Asset (ROA) for six month period are 20.6% and 4.3%, respectively

2018, and planned to expand the scope of its crude palm oil business, which will help boost the revenues and ensure the Company’s constant operating results. 3.2 Calculation of Transaction Size 3.2.1

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...

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% utilization rate. While material cost lowered, coinciding with cassava price direction; the main ingredient, from the constant rain. As a result, Ethanol Fuel Business EBITDA was recorded at THB 74 million (+81

, decreased by Baht 153 million or 15% from Q2/2018. The drop was due to the rise in natural gas prices while Fuel tariff (Ft) rate remained constant; therefore, the gross profits of Rayong Central Utility

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