was equal to 26.3 MB which it was the payment of interest from late payment of a large trade receivable. - 2 - Topic Annual Balance Change 2020 2019 2020 VS 2019 (MB) (MB) % Sales and Services Income
equivalents increased. Trade receivables decreased by 770.4 MB or decrease of 33.5%, due to receipt of receivables from the large project, such as Netpracharat project. As the result, trade receivables
received the payment from the trade receivables who got a quite long credit term and the trade receivables of the large project which had a long delivered period that those was carried forward from the trade
Afghanistan. In 3Q/2019 export sales to CLMV countries, the original export market and a large international business base, increased by THB 118 million or 8.7% mainly due to higher demand from Myanmar, of
credit term. - 5 - In addition, the Company had received the large project which had a long delivered period. As the result, the trade receivables in Q4 – 2019 decreased. Unbilled receivables of the Q4
to secure adequate funding to repay a large amount of outstanding trade debt, especially the trade debt owed to Cargill International Trading Pte. Ltd. (“Cargill”) in the amount of USD 105 million
Mahachai Group in terms of working capital for its operation in the past, the Company is still unable to secure adequate funding to repay a large amount of outstanding trade debt, hence the Company’s
Group”) for the net trade debt repayment of USD 123,899,729, or equivalent to THB 4,275,683,281.33, under the debt to equity conversion scheme where the conversion price will be fixed at THB 0.1961 per
working capital. Moreover, the Company is not capable to repay the liabilities or has adequate capital to repay the large amount of accrued trade receivables in the past. In addition, the Company owed Mr
1,021.1 MB, or 80.7%, the main reason is in the year 2019, the Company has invested in many large-scale projects that were still in operation; as the result, cash and cash equivalents decreased. Trade