million baht, an increase of Baht 868 million or 10.6% from those of 31 December 2018. The company and its subsidiaries have invested in Research & Development center in India and invested in machinery and

or 21.5% from 31 December 2018. The company and its subsidiaries have invested in a Research & Development center and a new factory in India. It also invested in machinery and equipment for replacement

2017 Bangchak Corporation Plc. Table of Contents 6 8 08 8 Refinery Business 12 Marketing Business 13 Green Power Business 15 Bio-Based Products Business 18 Exploration & Production Business 21 25 23

Production Machine and Plant Equipment Purchaser Planet Seller  Shanghai Wood-based Panel Machinery Co., Ltd.  DIEFFENBACHER GMBH MASCHINEN-UND ANLAGENBAU  ANDRITZ  Zhuzhou New Times Conveyer Machinery Co

of the year 2019. Page 3 2.3) Purchase Agreement of Production Machine and Plant Equipment Purchaser Planet Seller  Shanghai Wood-based Panel Machinery Co., Ltd.  DIEFFENBACHER GMBH MASCHINEN-UND

recorded an average production rate of 118. 82 KBD (99% utilization rate) which is considered as a record all-time high for average production rate in any quarter in the history of the Bangchak refinery

machinery, equipment and related expenses to increase the production capacity of the flexible packaging products another Baht 40 million. This is to increase the proportion of high gross margin products. In

production of 123 KBD in March. Also, after the completion of the TAM, Bangchak refinery was able to consistently maintain high levels of production throughout the year. Total GRM decreased 32%, from the

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equipment dropped by 38.46% QoQ due to decrease in demand on products.  Other revenues comprise of revenue from sale of scrap and zinc and machinery rental. Cost of Goods Sold  Cost to revenue from