million, to hedge against exchange rate volatility for its investment in the Wind Power Plant project in the Philippines and the Geothermal Power Plant project in Indonesia. However, due to the appreciating

uncertainties both at home and abroad resulted in volatility of both foreign exchange and return on investment. In the first quarter of 2019, the Baht strengthened due to eroding confidence in the US Dollar amid

-changing consumer behavior. Given the increased degree of uncertainty in global economies and politics, businesses may have to contend with Thai Baht volatility and rising interest rate trends. Within this

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the year ended December 31st, 2018 Management Discussion and Analysis of Business Operation for FY2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Important Events 08 Statement of Income 10 Business Performance 10 Refinery & Trading Business Group 15 Marketing Business Group 17 Power Plant Business Group 19 Bio-Ba...

2018 Page 17/21 Overview of the Stock Exchange of Thailand In line with global equities, Thai stocks saw another year of unusual volatility in 2018 of which investor confidence was affected considerably

Thailand Thai stocks saw a year of high volatility in 2019. The only positive factor that helped drive the SET Index to mark its annual high at 1,748 points in July, was an increasing weight of Thai stocks

natural hedge against short-term volatility in product margins.  Core EBITDA margin has enhanced from 6.4% in 2013 to 11.4% in 2Q17 and this is targeted to fur- ther improve from the various strategic

. The trend of Thai Baht value has directed to the volatility and weakened when compared with US Dollar after the US central bank announced the policy of raising interest rate in December. However, the

competence. This same strategy has continued to play a vital role in its ability to deliver industry- leading performance and providing a natural hedge against short-term volatility in product margins.  Core

material in advance for the Food Business so as to reduce the risk of volatility in the price of food raw materials during the year, together with continued effective management of its borrowings. The Hotels