strong position in cash flow and liquidity, the Company and its subsidiaries can repay the debt obligations including trade payables and other payables, short term loans, the current portion of long- term

year. There were both short-term and long-term interest-bearing debt totaled 60,535 million baht, decreasing by 3.2% from the end of last year. The portion of long-term interest-bearing debt was 27,542

different. 15 Table 7: Debt Profile USD in Millions 3Q17 2016 Total Debt 2,780 2,850 Bank overdraft and short-term loans 168 257 Long term debt (Current portion) 149 123 Debentures (Current portion) 16 153

Table 10 IVL Consolidated Statement of Financial Position 19 List of Figures Figure 1 PTA-PET Integrated Margin ($/MT) 7 Figure 2 Regional Performance 10 Figure3 Repayment Schedule of Long Term Debt 17

Long Term Debt………………………………………………….. 17 Indorama Ventures 3rd Quarter 2018 MD&A 14 Table 5: Regional Revenue Breakdown Quarterly Last Twelve Months 3Q18 2Q18 3Q17 3Q18 YoY LTM 3Q18 LTM 3Q17 LTM YoY

, 2018 are as follows: Credit Rating Agency * December 2018 September 2018 December 2017 Moody’s Investors Service Long-term Deposit Baa1 Baa1 Baa1 Short-term Deposit P-2 P-2 P-2 Senior Unsecured Debt

1.84 Baht per common share. 2.4 Profitability Description Unit For the year ending 31 December 2018 2017 Gross Profit Margin % 4.97 7.38 Net Profit (Loss) Margin % 12.63 5.26 Debt to Equity ratio Times

2017. Total Non-Current Assets decreased to Baht 510.09 million as of 31 December 2018 from Baht 552.45 million as of 31 December 2017, mostly due to the decrease of Other Long-term Investments of Baht

investment in Ngam-Ngum 3 project for THB14.56 million compared to THB 95.15 million in 2017. ▪ The THB83.64 million of reversal of doubtful debt recorded in 2018 comes mainly from repayment of fully amortized

(expenses) 13.07 (5.09) Operating income (loss) (47.27) 105.26 Reversal (set up) allowance for bad debt and doubtful account 4.22 (102.07) Net income (loss) (43.05) 3.19 - Share of loss from other associated