. KorNor. 22/2552 Re: Determination of Investment Management not being regarded as Securities Business in the Category of Private Fund Management _____________ By virtue of Section 4 and Section 14 of the
have the largest portion of their activities. For example, environmental SPTs that may be regarded as modest in ambition in developed economies could be of high significance in regions where the carbon
period of 2017, the gross profit margin was 15.64%. Due to the highly competitive so that the profitability decreased from the same period of previous year. 3. Selling expenses was Baht 29.62 million which
highly competitive. Consumers are changing their purchasing behavior because economic slows down. Yours Sincerely, Ms. Piyanan Suwannaphasri Assistant Managing Director Authorized to sign behalf of the
the gross profit margin was 10.06%. Due to the highly competitive. 3. Selling expenses was Baht 34.34 million which increased Baht 4.72 Million or increased 15.94% when compared to the same period of
has decreased And the market situation is highly competitive Consumers have changed their purchasing behavior. Yours Sincerely, Ms. Piyanan Suwannaphasri Assistant Managing Director Authorized to sign
consumers have slowed purchases and prices have risen. Market conditions are highly competitive. Therefore, the cost of sales increased . Profitability has decreased . Yours Sincerely, f~~' Ms. Piyanan
highly competitive. Consumers are changing their purchasing behavior. Yours Sincerely, Ms. Piyanan Suwannaphasri Assistant Managing Director Authorized to sign behalf of the company
disclosed, the issuer shall consider whether the nature of the estimate or assumption is material because of the subjectivity and judgment required to account for highly uncertain matters, as well as whether