Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 2nd quarter ended June 30th, 2019 Management Discussion and Analysis of Business Operation for Q2/2019 Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 22 25 27 29 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 20 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environm...

who have long-term debt obligations. We are therefore closely monitoring and analyzing related developments. Subject to our regular reviews and improvements in liquidity risk management processes at

cost over the long term, which will in turn help reduce costs within the economic system.. Within this context, KBank and K Companies accentuate enhancement of our business capabilities to achieve

achieve sustainable growth and returns while maintaining our long-term market leadership. Guided by our core strategies of “Customers’ Life Platform of Choice” along with “Customer Centricity”, KBank has

in sales promotion associated with the long weekends and the end of the year, employee related expenses, as well as costs that varied with higher sales volume such as logistics cost. Within this

weighted down from concerns over economic recession; after the US reported that the short term bond yield has exceeded the long term bond yield. However, oil price was supported by the high tension being

reduction, which thus prompted funds to flow into the Thai bond market, especially long-term bonds. Regarding US interest rates, they fell at both the beginning and the middle of this quarter against the

transactions, and thus slash our cash management costs, leading to reduced costs for our customers and within the overall economic system in the long run. Within this context, KBank and K Companies accentuate

instruments such as long-term investments, which currently are measured at cost. The new reporting standard will instead require the valuation to be done at fair value and recognize gains or losses from changes

obliged to provide over-allotment shares for delivering to allocated persons or returning to lenders according to the obligation of over allotment of shares pursuant to the Notification of the Capital