[Non-English content] [Non-English content] Do you have any questions, Supika? The one question I can see somebody is asking is if the spread goes up in second quarter 2025, how does the performance grow compared to first quarter 2025? How much is the growth Capex in 2025? And regarding China and US trade war issue, how does it impact IVL? These are the three questions I can see so far. If you go to the Outlook slide on the previous slide, the key takeaway, and if you go back to the previous slide. As you can see that we have already mentioned to you, as Khun Somsak explained to you, that second quarter results, we expect some improvement from the normalization of the turnaround of IVOG and some seasonality. Also there are some improvements in the industry spreads and because of seasonality demand. We expect our CPET segments to perform better from turnaround normalization, industry margins, and also seasonality. Fibers also we expect some improvement from management actions. On the second question on how much is the growth Capex in 2025, it is pretty much quite similar to what we have in Capital Markets Day. We have already given out our program, Capex program for 2025. I think we have a maintenance Capex and growth Capex together. It's about $800 million. Growth Capex is about $600 million roughly, which includes the EPL acquisition of 24.9% payment also. Next year we expect our Capex will be lower as per the plan that we have. The third question on China and US trade war issue and how does it impact. If you can see point number five, as Khun Samsak explained to you, that IVL local to local model provides resilience due to this trade uncertainty. This is a very important factor for IVL because we produce and sell in the same country or in the same geography. We also benefit from the USMCA framework, U.S., Mexico, and Canada framework. That is also helping us because we manufacture in the U.S. and also in Mexico. Also our recent expansion of hygiene fiber business in North Carolina in Mocksville and our auto fibers for airbag yarns in Mexico is quite timely because it will be benefiting from the USMCA framework. Thank you. [Non-English content] I can see one more question here is about outlook on a packaging business regarding cost and selling price. This one, packaging business, you know that we have now, named it as Indovinya, and it is one of our segments that we are reporting, and we also have a plan to do the IPO for this segment. This EPL 24.9% acquisition is also in the packaging segment. It's a consumer tube packaging, and it's quite complementary to our packaging business, which is more rigid packaging. In terms of the outlook, I think this packaging business is quite resilient in the sense of EBITDA margin. If you see our historical EBITDA margin for the last many years, it has been, if you go to the Packaging slide, the EBITDA margin has been moving in a quite narrow range, and that is the benefit of this business. Most of the contracts are like cost-plus sort of contracts and some negotiation, of course, but majority is in that way. Then we are going into the seasonality. That's the outlook on Packaging Business. Another question is, any plan for write-off any impairments in 2025? As you know, that last year in 2024, we have taken big impairments in the second quarter last year, and we are benefiting from the fixed cost savings coming in in 2024 and also in 2025. 2025, most of the savings would be coming in from the fiber segment because we are taking some more actions on the fiber segment. I mean, action in the sense of completing the actions and impairments we have taken last year. So, as per the current plan that we have announced, that we have at this time under the CMD plan and all that, we have taken majority of the impairments. There could be some small severance payments and some small items, but all the material ones, as per the current plan, we have taken it. But there could be some more, in the sense of like, if we have any more structuring or anything, then we'll let you know. But we are quite happy with the management action that we have taken last year. It helped us to save a lot of fixed cost, and also, we have been able to retain our customers in majority of the businesses. We can serve from different footprints that we have, so that's the advantage we have from serving from different footprints and having a global footprint. Yeah, thank you. [Non-English content] I think there's one question on contribution, revenue contribution from India and what is the outlook on India market in 2025. So yeah, how much percentage? I just asked my team to give me the number. Just wait a moment, but outlook. India is a very important market for us. As you know, there's big demand growth in India. We are quite focused and strategic geography for us. In India, we started with the acquisition to the partnership of the PD assets. We have multiple PD assets in India. We have Polyester Fibers and we also have Surfactants that we produce for multiple applications from Indonesia. We have most of our businesses, we have recycling joint venture with Bone Beverage, the largest bottle of Pepsi outside the US. It's very strategic, high growth market, and we have big market position, so we want to leverage on that. It's a very strategic market for us. Also, Project Valor, which we talked about in our Capital Markets Day earlier this year, is also in the coastal part of India. That project is currently being done by the family office, but then I will have some option to acquire it at cost in the future. India contribution is about 7%, about 7% to 8%. This is something quite strategic for us. Our largest investment is in the US and the second largest is in Brazil, but India and also Africa, they both are quite strategic for us. Thank you. [Non-English content] [Non-English content]
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