company must, in case of cross-border omnibus accounts, assess the adequacy and effectiveness of the financial institutions’ KYC/CDD measures and controls prior to requesting for approval from senior

financial institution’s clients. However, the securities company must, in case of cross-border omnibus accounts, assess the adequacy and effectiveness of the financial institutions’ KYC/CDD measures and

restructuring plan below. The restructuring of a company group will increase the effectiveness and benefits to the group of companies as follows: 4.1 If the Company would be the operator to conduct the business

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the first quarter ended March 31st, 2019 Management Discussion and Analysis of Business Operation for Q1/2019 Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 20 22 24 26 Executive Statement Summary of Income Business Performance 08 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Envi...

) 2.4 3.1 Net profit (after MI) 2 (%) 13.9% 23.7% Average collection period7 (days) 77 69 Return on equity3 (%) 11.1% 17.4% Payable days (days) 124 145 Efficiency Ratios Leverage Ratios Return on assets4

requirement, the types of instruments that qualify for hedging instruments and hedged items, and effectiveness testing which is more aligned with risk management strategy.  Principle for presentation of hybrid

infrastructure and expanding SPAR branches to reach logistical efficiency, thus incurring in high selling, general and administrative expenses, leading to the Bangchak Retail Co., Ltd. EBITDA to sill record in

the effectiveness of new marketing strategies and the launch of new product brand “DEFINE”, and by the same token, revenues in 9M17 grew by 246% YoY. Hotel Business Performance of hotel business

, residential business registered its total revenues of Bt2,388mn, up by 53% YoY, reflecting the effectiveness of new marketing strategies and the launch of new product brand “DEFINE”. Hotel Business Performance

enhance liquidity. The planned measures aim for utilizing the Company’s investment in the past 3 years to reach cost- effectiveness and break-even point as soon as possible. In Q1/2019, with our mentioned