@egco.com Page 2 Management Discussion and Analysis 1. Significant events in the Third Quarter of 2020 1.1 The progress in construction projects 1.1.1 Project completion - Gangdong Fuel Cell Project (Gangdong
construction under a concession arrangement in accordance with percentage of completion of the fair value of assets. The Group’s management also recognized cost of construction under a concession arrangement at
operation will continue to run smoothly and generate cash as forecast, and that the com pany will deleverage its capital structure and be able to control debt ratio as planned after the completion of capital
the parties and clear performance where there is either a breach of contract or a triggered condition of acceleration clause. In cases where the lender is an institutional investor under Section 3 of
clear performance where there is either a breach of contract or a triggered condition of acceleration clause. In cases where the lender is an institutional investor under Section 3 of the Derivatives Act
) crack spread which has consistently decline since the end of 2018 thus the production was reduced to the optimal level. Furthermore, during the quarter the refinery identified an abnormal condition in
relevant governmental agency and condition thereto (if any) 4.1 The Company shall obtain approval from shareholders’ meeting for the offering and sale of new ordinary shares to existing shareholders with a