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Malee Group Public Company Limited
Opportunity Day - Foreign
1 June 2017
Disclaimers
1
The information contained herein is intended to represent the Companyrsquos operating
and financial position at a given point in time and may also contain forward looking
information which only reflects expectations based on the prevailing geo-political
economic and non-controllable factors Such information has been obtained from
sources believed to be most reliable and the means in analyzing and preparation of
such information for disclosure are based on approve practices and principles in the
investment industry The views are based on assumption subject to various risks and
uncertainties and no assurance is made as to whether such future events will occur
No assurance is made as to the accuracy or completeness of information presented
in this document
Agenda
2
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
100 49 49 100
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 280000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 050 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 398)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
(with additional conditions)
Market Capitalization 14840MB or 434MUSD
Free Float 4845
A new par value has been changed from THB 100 to THB 050 per share since
16 May 2017
Group Structure
3
Group Structure
Malee Group Pcl ldquoManufacturing and Exportingrdquo
Malee Enterprise
Co Ltd (MEC)
ldquoDomestic Sale and Marketingrdquo
Share Information (As of 29 May 2017)
Abico Holdings
Pcl 268
Kamolchat Jeungrung-
reungkit 192 Thai NVDR
46
Others 493
A leading manufacturer and distributor of fruit
juices beverages and canned fruits in Thailand
100
Shareholding Structure (As of 9 May 2017)
Agri Sol Co Ltd
(AGR)
ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)
ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC)
ldquoBeverage Business in Philippinesrdquo
Mega Malee Co Ltd
(MMC)
ldquoNatural Health Drinksrdquo
Joint Venture Subsidiary
Malee Applied Sciences
Co Ltd (MAS)
ldquoInnovation Research amp Developmentrdquo
100
Milestones
4
1978
1981
1992 1995
2016
On 2 February 1978 Malee Sampran Factory
Co Ltd was established with capital of 10MB
as a manufacturer and distributor of canned
food and canned fruits
On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998 The Company expanded its production
base on the land of 30 rais in Sampran
District Nakhon Pathom Province
In April 1995 Abico Holdings Pcl acquired
40 from the existing shareholders
2017
On 12 January 2017 the Company set up a new
subsidiary named Malee Applied Sciences Co Ltd
(MAS) to provide innovation research and
development for value added products and services
On 12 May 2016 the Companyrsquos name was changed
to Malee Group Pcl
In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up a joint venture company
in the Philippines named Monde Malee Beverage
Corporation (MMBC) and launched KRATOS RTD
Coffee as the first product
On 22 August 2016 the Company signed a joint
venture agreement with Mega Lifesciences Pcl to
develop natural health-focused RTD products
On 15 March 2017 MMBC launched its second
product the jelly drink under the brand of ldquoJelly Vitrdquo
On 15 May 1998 the Companyrsquos name
was changed to Malee Sampran Pcl
1600 1682 1537 1931
2140 2357
2615 2706 2822 2964
688
2405 2021
1546 898
1510 1737
1603 2065
2567
3578
827
2062
869
(93) (295)
131 106 228
646
283 307 331 530
118
-1000
0
1000
2000
3000
4000
5000
6000
7000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 3M2017
Unit Baht Million
CMG Brand Net Profit
3M2017
Historical Performance
5
CMG Contract Manufacturing
bull Prior to 2009 major contribution of CMG
was from canned fruits
bull Discontinued the canned pineapple
production in 2009 and canned sweet corn
in 2013
2016 Historical
Highest Sales
2012-2013 Benefit
from the great flood
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100 Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
Healti Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Disclaimers
1
The information contained herein is intended to represent the Companyrsquos operating
and financial position at a given point in time and may also contain forward looking
information which only reflects expectations based on the prevailing geo-political
economic and non-controllable factors Such information has been obtained from
sources believed to be most reliable and the means in analyzing and preparation of
such information for disclosure are based on approve practices and principles in the
investment industry The views are based on assumption subject to various risks and
uncertainties and no assurance is made as to whether such future events will occur
No assurance is made as to the accuracy or completeness of information presented
in this document
Agenda
2
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
100 49 49 100
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 280000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 050 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 398)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
(with additional conditions)
Market Capitalization 14840MB or 434MUSD
Free Float 4845
A new par value has been changed from THB 100 to THB 050 per share since
16 May 2017
Group Structure
3
Group Structure
Malee Group Pcl ldquoManufacturing and Exportingrdquo
Malee Enterprise
Co Ltd (MEC)
ldquoDomestic Sale and Marketingrdquo
Share Information (As of 29 May 2017)
Abico Holdings
Pcl 268
Kamolchat Jeungrung-
reungkit 192 Thai NVDR
46
Others 493
A leading manufacturer and distributor of fruit
juices beverages and canned fruits in Thailand
100
Shareholding Structure (As of 9 May 2017)
Agri Sol Co Ltd
(AGR)
ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)
ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC)
ldquoBeverage Business in Philippinesrdquo
Mega Malee Co Ltd
(MMC)
ldquoNatural Health Drinksrdquo
Joint Venture Subsidiary
Malee Applied Sciences
Co Ltd (MAS)
ldquoInnovation Research amp Developmentrdquo
100
Milestones
4
1978
1981
1992 1995
2016
On 2 February 1978 Malee Sampran Factory
Co Ltd was established with capital of 10MB
as a manufacturer and distributor of canned
food and canned fruits
On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998 The Company expanded its production
base on the land of 30 rais in Sampran
District Nakhon Pathom Province
In April 1995 Abico Holdings Pcl acquired
40 from the existing shareholders
2017
On 12 January 2017 the Company set up a new
subsidiary named Malee Applied Sciences Co Ltd
(MAS) to provide innovation research and
development for value added products and services
On 12 May 2016 the Companyrsquos name was changed
to Malee Group Pcl
In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up a joint venture company
in the Philippines named Monde Malee Beverage
Corporation (MMBC) and launched KRATOS RTD
Coffee as the first product
On 22 August 2016 the Company signed a joint
venture agreement with Mega Lifesciences Pcl to
develop natural health-focused RTD products
On 15 March 2017 MMBC launched its second
product the jelly drink under the brand of ldquoJelly Vitrdquo
On 15 May 1998 the Companyrsquos name
was changed to Malee Sampran Pcl
1600 1682 1537 1931
2140 2357
2615 2706 2822 2964
688
2405 2021
1546 898
1510 1737
1603 2065
2567
3578
827
2062
869
(93) (295)
131 106 228
646
283 307 331 530
118
-1000
0
1000
2000
3000
4000
5000
6000
7000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 3M2017
Unit Baht Million
CMG Brand Net Profit
3M2017
Historical Performance
5
CMG Contract Manufacturing
bull Prior to 2009 major contribution of CMG
was from canned fruits
bull Discontinued the canned pineapple
production in 2009 and canned sweet corn
in 2013
2016 Historical
Highest Sales
2012-2013 Benefit
from the great flood
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100 Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
Healti Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Agenda
2
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
100 49 49 100
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 280000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 050 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 398)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
(with additional conditions)
Market Capitalization 14840MB or 434MUSD
Free Float 4845
A new par value has been changed from THB 100 to THB 050 per share since
16 May 2017
Group Structure
3
Group Structure
Malee Group Pcl ldquoManufacturing and Exportingrdquo
Malee Enterprise
Co Ltd (MEC)
ldquoDomestic Sale and Marketingrdquo
Share Information (As of 29 May 2017)
Abico Holdings
Pcl 268
Kamolchat Jeungrung-
reungkit 192 Thai NVDR
46
Others 493
A leading manufacturer and distributor of fruit
juices beverages and canned fruits in Thailand
100
Shareholding Structure (As of 9 May 2017)
Agri Sol Co Ltd
(AGR)
ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)
ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC)
ldquoBeverage Business in Philippinesrdquo
Mega Malee Co Ltd
(MMC)
ldquoNatural Health Drinksrdquo
Joint Venture Subsidiary
Malee Applied Sciences
Co Ltd (MAS)
ldquoInnovation Research amp Developmentrdquo
100
Milestones
4
1978
1981
1992 1995
2016
On 2 February 1978 Malee Sampran Factory
Co Ltd was established with capital of 10MB
as a manufacturer and distributor of canned
food and canned fruits
On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998 The Company expanded its production
base on the land of 30 rais in Sampran
District Nakhon Pathom Province
In April 1995 Abico Holdings Pcl acquired
40 from the existing shareholders
2017
On 12 January 2017 the Company set up a new
subsidiary named Malee Applied Sciences Co Ltd
(MAS) to provide innovation research and
development for value added products and services
On 12 May 2016 the Companyrsquos name was changed
to Malee Group Pcl
In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up a joint venture company
in the Philippines named Monde Malee Beverage
Corporation (MMBC) and launched KRATOS RTD
Coffee as the first product
On 22 August 2016 the Company signed a joint
venture agreement with Mega Lifesciences Pcl to
develop natural health-focused RTD products
On 15 March 2017 MMBC launched its second
product the jelly drink under the brand of ldquoJelly Vitrdquo
On 15 May 1998 the Companyrsquos name
was changed to Malee Sampran Pcl
1600 1682 1537 1931
2140 2357
2615 2706 2822 2964
688
2405 2021
1546 898
1510 1737
1603 2065
2567
3578
827
2062
869
(93) (295)
131 106 228
646
283 307 331 530
118
-1000
0
1000
2000
3000
4000
5000
6000
7000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 3M2017
Unit Baht Million
CMG Brand Net Profit
3M2017
Historical Performance
5
CMG Contract Manufacturing
bull Prior to 2009 major contribution of CMG
was from canned fruits
bull Discontinued the canned pineapple
production in 2009 and canned sweet corn
in 2013
2016 Historical
Highest Sales
2012-2013 Benefit
from the great flood
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100 Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
Healti Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
100 49 49 100
Stock Symbol MALEE
Industry and Sector Agro amp Food Industry Food and
Beverage
No of Listed Shares 280000000 Shares
Registered Capital THB 140000000
Paid-up Capital THB 140000000
Par Value THB 050 per Share
Listing Date 13 March 1992
Foreign Limit 49 (available 398)
Dividend Policy Not less than 50 of the net profit from
normal operation according to
consolidated financial statement after
deduction of tax revenue and legal reserve
(with additional conditions)
Market Capitalization 14840MB or 434MUSD
Free Float 4845
A new par value has been changed from THB 100 to THB 050 per share since
16 May 2017
Group Structure
3
Group Structure
Malee Group Pcl ldquoManufacturing and Exportingrdquo
Malee Enterprise
Co Ltd (MEC)
ldquoDomestic Sale and Marketingrdquo
Share Information (As of 29 May 2017)
Abico Holdings
Pcl 268
Kamolchat Jeungrung-
reungkit 192 Thai NVDR
46
Others 493
A leading manufacturer and distributor of fruit
juices beverages and canned fruits in Thailand
100
Shareholding Structure (As of 9 May 2017)
Agri Sol Co Ltd
(AGR)
ldquoDormantrdquo
Malee Harvest Co Ltd
(MHC)
ldquoAgro Businessrdquo
Monde Malee Beverage
Corp (MMBC)
ldquoBeverage Business in Philippinesrdquo
Mega Malee Co Ltd
(MMC)
ldquoNatural Health Drinksrdquo
Joint Venture Subsidiary
Malee Applied Sciences
Co Ltd (MAS)
ldquoInnovation Research amp Developmentrdquo
100
Milestones
4
1978
1981
1992 1995
2016
On 2 February 1978 Malee Sampran Factory
Co Ltd was established with capital of 10MB
as a manufacturer and distributor of canned
food and canned fruits
On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998 The Company expanded its production
base on the land of 30 rais in Sampran
District Nakhon Pathom Province
In April 1995 Abico Holdings Pcl acquired
40 from the existing shareholders
2017
On 12 January 2017 the Company set up a new
subsidiary named Malee Applied Sciences Co Ltd
(MAS) to provide innovation research and
development for value added products and services
On 12 May 2016 the Companyrsquos name was changed
to Malee Group Pcl
In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up a joint venture company
in the Philippines named Monde Malee Beverage
Corporation (MMBC) and launched KRATOS RTD
Coffee as the first product
On 22 August 2016 the Company signed a joint
venture agreement with Mega Lifesciences Pcl to
develop natural health-focused RTD products
On 15 March 2017 MMBC launched its second
product the jelly drink under the brand of ldquoJelly Vitrdquo
On 15 May 1998 the Companyrsquos name
was changed to Malee Sampran Pcl
1600 1682 1537 1931
2140 2357
2615 2706 2822 2964
688
2405 2021
1546 898
1510 1737
1603 2065
2567
3578
827
2062
869
(93) (295)
131 106 228
646
283 307 331 530
118
-1000
0
1000
2000
3000
4000
5000
6000
7000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 3M2017
Unit Baht Million
CMG Brand Net Profit
3M2017
Historical Performance
5
CMG Contract Manufacturing
bull Prior to 2009 major contribution of CMG
was from canned fruits
bull Discontinued the canned pineapple
production in 2009 and canned sweet corn
in 2013
2016 Historical
Highest Sales
2012-2013 Benefit
from the great flood
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100 Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
Healti Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Milestones
4
1978
1981
1992 1995
2016
On 2 February 1978 Malee Sampran Factory
Co Ltd was established with capital of 10MB
as a manufacturer and distributor of canned
food and canned fruits
On 3 March 1992 MALEE was listed on the
Stock Exchange of Thailand (SET)
1998 The Company expanded its production
base on the land of 30 rais in Sampran
District Nakhon Pathom Province
In April 1995 Abico Holdings Pcl acquired
40 from the existing shareholders
2017
On 12 January 2017 the Company set up a new
subsidiary named Malee Applied Sciences Co Ltd
(MAS) to provide innovation research and
development for value added products and services
On 12 May 2016 the Companyrsquos name was changed
to Malee Group Pcl
In Q12016 MALEE together with Monde Nissin
Corporation (MNC) set up a joint venture company
in the Philippines named Monde Malee Beverage
Corporation (MMBC) and launched KRATOS RTD
Coffee as the first product
On 22 August 2016 the Company signed a joint
venture agreement with Mega Lifesciences Pcl to
develop natural health-focused RTD products
On 15 March 2017 MMBC launched its second
product the jelly drink under the brand of ldquoJelly Vitrdquo
On 15 May 1998 the Companyrsquos name
was changed to Malee Sampran Pcl
1600 1682 1537 1931
2140 2357
2615 2706 2822 2964
688
2405 2021
1546 898
1510 1737
1603 2065
2567
3578
827
2062
869
(93) (295)
131 106 228
646
283 307 331 530
118
-1000
0
1000
2000
3000
4000
5000
6000
7000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 3M2017
Unit Baht Million
CMG Brand Net Profit
3M2017
Historical Performance
5
CMG Contract Manufacturing
bull Prior to 2009 major contribution of CMG
was from canned fruits
bull Discontinued the canned pineapple
production in 2009 and canned sweet corn
in 2013
2016 Historical
Highest Sales
2012-2013 Benefit
from the great flood
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100 Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
Healti Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
1600 1682 1537 1931
2140 2357
2615 2706 2822 2964
688
2405 2021
1546 898
1510 1737
1603 2065
2567
3578
827
2062
869
(93) (295)
131 106 228
646
283 307 331 530
118
-1000
0
1000
2000
3000
4000
5000
6000
7000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 3M2017
Unit Baht Million
CMG Brand Net Profit
3M2017
Historical Performance
5
CMG Contract Manufacturing
bull Prior to 2009 major contribution of CMG
was from canned fruits
bull Discontinued the canned pineapple
production in 2009 and canned sweet corn
in 2013
2016 Historical
Highest Sales
2012-2013 Benefit
from the great flood
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100 Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
Healti Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Malee Brand Portfolio
6
Daily Nutrition
Functionality Tactical
Malee 100 Juice UHT
Malee 100
Juice Pasteurize
Malee Coco
Malee Nutrients
Malee i-Corn
Malee
Healti Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
UHT Pasteurize
Canned
Sweetened
Condensed Non Dairy Creamer
TurBusta Maxx
Malee Light
Malee Probiotics
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Agenda
7
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Premium Market (100 RTD Fruit
Juice) 5245MB
38
Medium Market (40-99 RTD Fruit
Juice) 1265MB
9 (+3 YoY)
Economy Market (20-39 RTD Fruit Juice)
2976MB 21
(-10 YoY)
Super Economy Market (lt20 RTD
Fruit Juice) 2399MB
17 (+9 YoY)
Others 2018MB
15
(+7 YoY)
(-13 YoY)
Domestic RTD Fruit Juice Market
8
Source Neilson
MAT Mar 2017 Market Value of 13903 MB a Decrease of 03 YoY
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Premium Juice UHT Market Share
9
MAT Mar 2017 Market Value of 4872 MB Growth of 10 YoY
Tipco 28
Malee 20
Unif 12
Doikham 22
Cocomax 9
Others 9
Tipco 32
Malee 22
Unif 14
Doikham 18
Cocomax 6
Others 8
MAT Mar 2016 MAT Mar 2017
Note Including Coconut Water
Source Neilson
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
57 52 45 47 45
43 48 55 53 55
2014 2015 2016 3M16 3M17
CMG
Brand
Sales Structure
10
CMG Contract Manufacturing
Domestic International Business Brand Contract Manufacturing
Q12017 Domestic sales growth was -13 YoY
Q12017 Export sales growth was +22 YoY
Q12017 Brand sales growth was -4 YoY
Q12017 CMG sales growth was +1 YoY
78 72 61 66
57
22 28 39 34
43
2014 2015 2016 3M16 3M17
Export
Domestic
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
NEW MALEE COCO
TASTY FRESH AND NATURAL
Domestic Business ndash New Product
11
New Products
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
MMBC ndash New Product
12
Jelly Vit the jelly drink was launched in the mid
of March 2017 the second product after Kratos
RTD Coffee
Market Position Pretty Happy Drink
Target Adult Young Girls First Jobbers
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Agenda
13
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
4771 5389
6541
1533 1515
0
1000
2000
3000
4000
5000
6000
7000
2014 2015 2016 Q116 Q117
Sales Revenue
Unit Million Baht
Q12017 Net profit increased by 8 YoY in
accordance with the Companyrsquos strategy and internal
management for efficiency enhancement and cost
reduction
Net profit included loss of 7MB from MMBC and profit
of 7MB from the disposal of investment in LCF which
is the reversal of impairment of goodwill in LCF in
Q42016
MMBC loss was foreseen and going consistent with
the Companyrsquos plan while the loss was considered as
a normal level for the business at the beginning stage
launching new products into the market which requires
high spending
Financial Highlights
14
Q12017 Sales slightly decreased by 1 YoY due to
the slowdown of domestic sales especially from
canned fruit
However export sales continued to perform
outstandingly both in Brand and CMG Business
-1
YoY
307 331
530
110 118
0
100
200
300
400
500
600
2014 2015 2016 Q116 Q117
Net Profit
Unit Million Baht
+8
YoY
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
64 61 81 71 77
00102030405060708090
2014 2015 2016 Q116 Q117
Net Profit Margin
186 174 144 146 134
0020406080
100120140160180200
2014 2015 2016 Q116 Q117
Selling Expenses Sales
337 314 322 301 313
00
50
100
150
200
250
300
350
400
450
500
2014 2015 2016 Q116 Q117
Gross Profit Margin
Profitability Margin
15
Improved Q12017 GPM YoY was
due to enhanced production
efficiency and different product mix
Improved Q12017 selling expenses
to sales was supported by the grouprsquos
cost control policy and increased
sales ratio of CMG
Improved Q12017 NPM YoY was
due to efficiency enhancement and
cost reduction
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Statements of Financial Position
16
Increased total assets were mainly
resulted from higher trade receivables as
well as additional investment in
machinery to improve production
efficiency and prepare for increased
level of production
Increased liabilities were mainly due to
higher trades payable due to the
preparation of packaging materials for
the upcoming crop season for the
canned fruit production in Q22017
Increased equity of parent Companys
shareholders was contributed by
operating profit during the year
2992 3042 3640 3802
00500000
1000000150000020000002500000300000035000004000000
2014 2015 2016 Q117
Total Assets
Unit Million Baht
1976
1788
2061 2114
1600000
1700000
1800000
1900000
2000000
2100000
2200000
2014 2015 2016 Q117
Total Liabilities
Unit Million Baht
1012 1250
1575 1687
00200000400000600000800000
10000001200000140000016000001800000
2014 2015 2016 Q117
Equity
Unit Million Baht
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Liquidity
17
Improved current ratio was mainly due to
higher trade receivables lower bank overdrafts
and short-term loans from financial institutions
as well as lower current portion of long-term
liabilities while a decrease in inventories
resulting in higher quick ratio
Improved cash cycle days was due to
shortened inventory days and longer payment
days
Reduced IBDE and DE was due to a
decrease in bank overdrafts and short-term
loans from financial institutions long-term
liabilities and liabilities under financial lease
agreements as well as an increase in retained
earnings from incurring profits
098 113
095 096
053 066
050 054
300
400
500
600
700
800
900
1000
1100
1200
2014 2015 2016 Q117
Current Ratio (x) Quick Ratio (x)
112 068 075 068
195
143 131 125
00
500
1000
1500
2000
2500
3000
3500
2014 2015 2016 Q117
IBDE (x) DE (x)
91 90 77 73
00100002000030000400005000060000700008000090000
100000
2014 2015 2016 Q117
Cash Cycle Days
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Return to Shareholders
18
The Company normally pays dividend twice a
year
The Company has a policy to pay dividend
not less than 50 of the net profit from
normal operation according to consolidated
financial statement after deduction of tax
revenue and legal reserve (with additional
conditions)
Unit Baht
Improved ROA was due to a substantial
increase of the Companyrsquos earnings
Improved ROE was due to a substantial
increase of the Companyrsquos earnings
155 148 204
158 201
00
50
100
150
200
250
2014 2015 2016 3M16 3M17
ROA
333 293 375
286 354
0050
100150200250300350400
2014 2015 2016 3M16 3M17
ROE
0750 0525 0555 0600
0950
00100200300400500600700800900
1000
2012 2013 2014 2015 2016
Dividend per Share
Remark Adjusted at par value of Baht 050 per share
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Agenda
19
bull Company Overview
bull Business Update
bull Results of Operations and Profitability
bull Forward Looking
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
2017 Looking Ahead
20
Domestic Brand
Renovations Portfolio
Management
CMG
Diversification
International Business
Strategic Expansion
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
Added to MSCI Global Small Cap Indexes Effective as of the close of 30 November 2016
Share Endorsements
21
Partner
ldquoVery Goodrdquo Level of CG Scoring
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
For more information please visit our website httpwwwmaleecoth or contact irmaleecoth Tel +66 64 301 7978
