inventory balance. The SEC found that an auditor did not obtain audit evidence assuring the reliability of the computer system. Example 6 : While examining consignment goods, an auditor did not observe the

and administrative expenses of Baht 13.51 million which were related to an increase of revenues from sales. An increase in gross profit was mainly due to an improve on the inventory cost management as

, the Company can manage effectively of product merchandising for high margin items. The Company also gain reliability from ZIGA and DAIWA brand for their standard and recognition. ZIGA and DAIWA has

tally with consolidated financials due to holding segment. 3Core EBITDA is Reported EBITDA less Inventory gains/(losses). 4Core Net Profit is Reported Net Profit less Inventory gains/(losses) and one-time

may not always tally with consolidated financials due to holding segment. 3Core EBITDA is Reported EBITDA less Inventory gains/(losses). 4Core Net Profit is Reported Net Profit less Inventory gains

Reported EBITDA less Inventory gains/(losses). 4Core Net Profit is Reported Net Profit less Inventory gains/(losses) and one-time extraordinary items. 5Operating Cash Flow is after change in net working

Average Collection Period (Day) 49 49 56 Inventory Turnover Ratio (Times) 17.83 15.89 13.21 Average Days Sales of Inventory (Day) 20 23 28 Account Payable Turnover (Times) 6.09 6.25 5.54 Average Payment

. 4Core EBITDA is Reported EBITDA less inventory gains/(losses) 5Core EPS is Reported EPS less inventory gains/(losses) less one-time extraordinary items Indorama Ventures 1st Quarter 2018 MD&A 3 Summary We

stakeholders, and thus bolstering further confidence of both local and foreign investors in our capital market. Due to the substantial effects of audit quality on the reliability of the available financial

(or intra business segment) transactions (2) Core EBITDA is Consolidated EBITDA less In- ventory gain/(loss) whereas Core EPS is Reported EPS less Inventory gain/(loss) and onetime extraordinary items