SEC had proposed, in principle, to amend the definition of major shareholder of the securities companies which at present is determined based on the “number of voting shares” to the “number of

of 100 baht Shareholder Structure :- Before Capital Decrease : The Company holds shares in TL at 96.75 % or 386,999 shares at a par value of 100 baht After Capital Decrease : The Company holds shares

current liabilities while the pay down of the term loan helped to decrease non-current liabilities. Shareholder equity was impacted by retained earnings given the dividend payout and the lower net result

from decrease of Total Shareholder Equity from adopting new accounting standard TFRS 15 and activated of Long-term borrowings from financial institutions of Baht 21.3 million. 3. KEY FINANCIAL RATIOS 31

times. This was due to the fact that net loans decreased while shareholder equity increased. The significant decrease of total debt to total equity ratio of the Company was due to the ability of revenue

. Also, interest bearing debt to equity ratio was reduced positively at 4.5 times. This was due to the fact that net loans decreased while shareholder equity increased. The significant decrease of total

liabilities while the pay down of the term loan helped to decrease non-current liabilities. Shareholder equity was impacted by higher net income due to lower depreciation. As Kiln 7 comes on stream in 2018

Long-term Borrowings Debentures Baht of 2,996.8 million and a decrease of Total Shareholder Equity of Baht 1,724.6 million, despite an increase in Cash and Cash Equivalents of Baht 1,018.7 million. 6

, increased from 0.81x at the end of 2019. The increase was mainly from an increase of Long-term Borrowings Debentures Baht of 2,996.8 million and a decrease of Total Shareholder Equity of Baht 1,395.6 million

mainly from decrease of Total Shareholder Equity from adopting new accounting standard TFRS 15, and activated borrowings from financial institutions Long-term and Short-Term of Baht 205.1 million and Baht