liquidity, capital structure, potential for generating income in the future and the better financial status as the Company does not create an additional liability from loan and can reduce the financial cost

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the quarter ended September 30th, 2019 Management Discussion and Analysis of Business Operation for Q3/2019 Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 21 24 26 28 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environ...

operation was lower than the extra dividend paid to the FIDF (pre-IPO). - The retained earnings were decreased by Baht 13,000.00 million which was paid out to the FIDF according to the consent obtained from

and six-month period of year 2020 were accounted for 19.3 percent and 12.1 percent of total expenses respectively. The significant increase of administrative expenses was from extra payment of voluntary

polypropylene-based fibers portfolio and allocates meaningful capital toward the packaging segment, opportunities to invest in ‘fit-for-purpose’ olefin capacities will enable IVL to capture additional margins and

prioritizes the use of renewable energy sources, as well as domestic use of gas. In overall, the additional electricity generating capacity is mainly from coal, gas, geothermal and hydropower, which are the

consistently retain its second place in the market. The Power Plant Business realized additional share of profit from its investment in geothermal power plant in Indonesia. As for the Biofuel Business

per unit. Moreover, BCP Trading’ s sales volume rose, and there was an additional revenue realization from the Ethanol business after the business amalgamation in Q4/2017. Management Discussion and

offer for sale, the SEC Office shall have the authority to: (1) order the approved foreign entity, its directors or executives to clarify or disclose additional information within a specified period and

Manila Electric Company (MERALCO) pursuant to a 20 years power supply agreement which is extendable for up to an additional 5 years. The construction of the project has progressed 97.38% (The construction