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...

sustainability practices and build confidence in KBank operations. Sustainable development along the economic, environmental, and social dimensions is a fundamental KBank principle, concretely implemented in all

the standard and code of ethics by promoting compliance culture to strengthen confidence of client and the industry. Guidelines 1. The management should arrange to have strategic plan, policy and

the policy, law including the standard and code of ethics by promoting compliance culture to strengthen confidence of client and the industry. Guidelines 1. The management should arrange to have

this will increasing efficiency and confidence of the Company to the production and trading of palm oil business including the growth of the Company in parallel with cooperation regarding the renewable

essential for sustainable business operations. Aside from creating confidence among all shareholders and stakeholders, it is instrumental in making KBank a Bank of Sustainability. KBank thus organized a

Securities and Exchange Commission No. KorDor. 30/2540 Re: Sale of Securities by a Securities Company Which Does Not Have Possession of Such Securities dated 31 July 1997, the Office of the Securities and

matters as specified in Clause 14 (2), mutatis mutandis. (6) having a policy to invest in the similar assets as those permissible to invest in or to have in possession by mutual fund as prescribed in the

accountability, together with good corporate governance. Banks with practices that fall under the “sustainable banking” framework will gain the confidence of investors, clients and other bank stakeholders and have

earnings per ton in the fibers portfolio, provide us the confidence that the Company is well poised to achieve the 2019 earnings guidance of $1.75 billion. As stated earlier, IVL foresees its ability to