of foreign tourists continued to increase due to the relaxing of outbreak control measures and international travel restrictions. As the result, the commerce and service sectors recovered and the

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 4th quarter and year ended December 31th, 2019 2 Management Discussion and Analysis of Business Operation for FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Manag...

agreements (TFRS 16) which are effective in 2020. In addition, as a result of the pandemic of the Coronavirus Disease 2019 (COVID-19), the company has closely monitored and followed up the operational plans of

investment which depending on government policies, direction of Baht currency and delay of 2020 government budget approval. Also, Coronavirus outbreak and the droughts in Thailand have been affecting to the

risks from internal and external factors such as severe droughts, a rise in unemployment and household debt as well as the global outbreak of the Coronavirus (COVID-19) since early 2020. However, the

first semester in August 2020. In 2020, we expect that the Company’s operations will be affected by various risks factors such as the outbreak of the novel coronavirus, the uncertainty of the global

. The Committee viewed that the Thai economy would expand at a slower rate in 2020 than previously forecasted and much further below its potential due to the outbreak of coronavirus, the delayed enactment

that for the 2nd quarter 2020, the situation concerning consumer purchasing power and spending still have to be closely monitored. If the government sector is able to control the outbreak of Covid-19 and

million baht or decrease 12.84 %. The declining sales volume was due to the decrease in domestic demand for diesel. This is affected by a new outbreak of COVID-19 virus since early 2021. Additionally, the

tourist arrivals due to the Coronavirus Disease 2019 (COVID-19) outbreak and slowing Chinese economy. Meanwhile, domestic factors include severe droughts and the delay on government budget approval