- Management Discussion and Analysis 1Q2020 - Due to upward CPO price, methyl ester price in 1Q2020 was increased to 43.87 Baht/kg., rose by 19.89 Baht/kg. or 83% compared to 1Q2019. Overall 1Q2020 compared to

significantly, but the price of imported raw materials were on a continuous upward trend, thus the cost of raw material increased consequently. Total labor cost including requirement of outsourced labors

last year’s which was lower than sales increasing rate reflecting from the upward gross profit margin of Q1/2020. The gross profit in Q1/2020 was increased from Baht 70.8 million to be Baht 79.3 million

million in Q2/2018 or 5.67% decreased from last year’s which was higher than the sales dropping rate resulting from the upward gross profit margin of Q2/2018. The gross profit in Q2/2018 was increased from

sales volume of Q3/2020 was increased by 3.88% compared to those of Q3/2019 due to the rise in demand of plastic packaging products. Financial Operating Results In Q3/2020, total cost of sales and

or 2.37% decreased from last year’s which was higher than the sales dropping rate resulting from the upward gross profit margin of 2018. The gross profit in 2018 was increased from Baht 247.3 million

the first 6 months of this year, revenue increased by THB 36.23 million or 30.24% when comparing to the same period of last year. - Revenue from golf course showed an upward trend. Revenue for the first

private consumption and investment. However, economic expansion remains at risk due to higher cost of living, the rising of household debts amid an upward trend of interest rates, the increasing of interest

quarter of 2018 (“3Q’18”) was THB 427 million, increased 9% yoy. Non-social security yoy revenue growth was highly 18% while social security revenue growth slightly decreased. Non-social security’s

from the upward gross profit margin of 2019. The gross profit in 2019 was increased from Baht 262.5 million to be Baht 273.9 million or equivalent to 4.36% resulting from the rise in gross profit margin