activities in the year. The Company has the liquidity in the good level. Most current liabilities derived from the purchase of input and investment in purchasing machinery and equipment used in the production

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

2017 Bangchak Corporation Plc. Table of Contents 7 9 09 8 Refinery Business 13 Marketing Business 14 Green Power Business 16 Bio-Based Products Business 18 Exploration & Production Business 22 26 24

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

and Trading Business Group recorded an average production rate of 109.35 KBD, a level adjacent to plan, Market GRM improved from the previous quarter, while Total GRM declined, primarily due to the

selling expenses from multiple new products launch; and higher finance costs due to higher borrowings as a result of previous investments in machinery, subsidiaries, and joint ventures.  If considering