superior from last year from the expansion both in terms of trading volume and new trade partners. Oil trading performance however, softened marginally from the previous quarter, due to the apprehension

brighter investment outlook, and ongoing growth in tourism. At the same time, the real estate and construction sectors grew modestly, with expansion seen only in certain areas. Likewise, consumption fared

made to quality of service, and expanded the locations of service stations simultaneously with expansion of Non-Oil businesses, the total number of service as of the end of 2019 is more than 1,200

estate market is explored in order to diversify business risk and boost recurring income. Apart from developing residential condominiums, the Company also provides real estate services and property

. Management Discussion and Analysis (MD&A) for 2019 Page 5/5 Looking Forward In 2019, the Company was able to generate revenue from business expansion quite well, which could be achieved according to the target

caused oversupply in table glassware market. The Company continued developing new product designs to serve customer needs. In 2017, Ocean and Ocean Professional Brands, launched new series of glass

margin decreased from the previous year mainly due to a decrease in gross profit from services and development business from additional related costs in developing renewable energy business overseas in

flexibility of GPSC Group’s financial management via local and international funding, foreign exchange management, and cash management activities. The establishment of the GPSC TC is to support the expansion of

the sales of products. Therefore, the Corporate Group has established policy on market expansion and domestic channel development to achieve the most efficiency, as well as production cost management

mainly from the increase in revenue from dessert café, which was attributed to the expansion of 7 new stores from Q3/2018 and a rise in Same-Store-Sale-Growth (SSSG). Gross Profit and Gross Profit Margin