investment which depending on government policies, direction of Baht currency and delay of 2020 government budget approval. Also, Coronavirus outbreak and the droughts in Thailand have been affecting to the

risks from internal and external factors such as severe droughts, a rise in unemployment and household debt as well as the global outbreak of the Coronavirus (COVID-19) since early 2020. However, the

tourist arrivals due to the Coronavirus Disease 2019 (COVID-19) outbreak and slowing Chinese economy. Meanwhile, domestic factors include severe droughts and the delay on government budget approval

raw material, due to droughts. However, with the ability to efficiently manage raw material, thus improving gross profit. Moreover, revenue increased from the sales of Ethanol used for production