with a capital surplus of Baht 2,645 million (net of share offering expenses of Baht 68 million) The Company had registered the increase of its capital to the Ministry of Commerce on 16 January 2020

assets 970 Total assets 1,238 Current liabilities 1,109 Non-current liabilities 1,119 Total liabilities 2,228 Share capital 3,959 Surplus on land revaluation 66 Retained earnings (deficits) (5,015) Total

490 730 Non-current liabilities 1,119 1,061 824 Total liabilities 2,228 1,551 1,554 Share capital 3,959 3,739 3,300 Surplus on land revaluation 66 Retained earnings (deficits) (5,015) (4,168) (3,577

surplus of Baht 2,645 million (net of share offering expenses of Baht 68 million) The Company had registered the increase of its capital to the Ministry of Commerce on 16 January 2020. ● Other components of

(Appraisal surplus) หมายถึง สวนเกินจากราคาทุนหรือราคาตามบัญชีของทรัพยสิน 24. สวนเกินทุน (ต่ํากวาทุน) จากการเปลี่ยนแปลงมูลคาเงินลงทุน (Revaluation surplus (deficit) in investments) หมายถึง สวนตางระหวาง

reduced expectations of a Federal Reserve policy rate increase and positive factors domestically, in particular, seasonality and Thailand’s ongoing current account surplus. Nonetheless, the Baht

referenced crude oil price of every products; stemming from a state of excess supplies of finished products in the market, and declining demand from the 4 Management Discussion and Analysis of Business

Iran after the country was previously sanctioned before the US revoked the sanction of the 8 countries, thus leading to excess crude supplies in the market. In addition, the bearish US stock market

significantly from the state of excess supplies within the market and declining demand from the COVID-19 outbreak. The company realized loss from invested capital in associate company, OKEA due to the price of

reverted to its excess position in the market, while supplies in the previous year were tight. As such, crude production from the US adjusted to peak capacity from the beginning of this year to the level of