of 2017 WHAUP completed our 2017 at record-high result with a Net Income of Baht 1,980.9 million, 436.1% increase from 2016. 1. RESULTS OF OPERATION FOR 2017 Consolidated Financial Statements 2016 2017

Bt2,620.0 million was of the investment in expansion of the Northern Multi-Products Fuel Pipeline project and the expansion of the High Pressure Aviation Fuel Pipeline project for BKK phase2 of TARCO - Net

, which had high gross profit margin, was completed in 2016. Retail business In 2017, the Company has gross profit of Baht 923 million, which is increased by Baht 208 million or 29% compared to the gross

business which possess a high gross margin. Selling and Administrative Expenses and Operating Profit The Company’s selling and administrative expenses stood at 2,098 million Baht higher than 2016 of 23.8

from (1) and (2), it has been found that the Company still has high limitation. Hence, the Company has studied the possibility to move the location of the project to reduce the distance for raw material

contingent upon a sustained business and economic environment BB+ BB BB- B+ B B- B C D Ba1 Ba2 Ba3 B1 B2 B3 NP BB+ BB BB- B+ B B- B C D High default risk - debtor’s capacity for meeting commitments may be

% ต่ำ สูง กลุ่มหุ้นที่เน้นลงทุน General Large Cap Mid/Small Sector ต่ำ สูง ความเสี่ยงจากการลงทุนกระจุกตัว (High concentration risk) การลงทุนกระจุกตัว ในผู้ออกตราสารรวม

. Clear procedures to report mistakes or frauds to the superiors and high level executives. 4. Approach to solve problems immediately regarding keeping the client’s assets. 5. Person responsible for taking

the client’s assets, in accordance with Chapter 2, to ensure that the system is suitable and effective. 3. Clear procedures to report mistakes or frauds to the superiors and high level executives. 4

selection which may cause assets of clients to be in a condition of low liquidity and high risk (cherry picking); (2) shall use the latest issuance of credit rating information made by the reliable credit