intensified competition, and the refinery’s TAM which resulted in the lower volume of finished oil produced. On the other hand, retail market which is the company’s main distribution channel recorded sales

affected by the decline in most of the finished product and crude oil crack spreads, as a result of the oversupply situation in finished oil products, and the anxieties over the trade war between the US and

business; due to finished product price increase that coincide with the rise of global crude oil price, and total sales volume increased by 5%. Also, the company received higher revenue from the power plant

price of crude and finished product to make its downward trend. With demand for fuel consumption declining across the globe, combined with the Organization of Petroleum Exporting Countries [ OPEC] and

and widely expanded across more areas. Furthermore, the Company also introduced various products through online channels to keep customers informed and able to access products more easily 4. Efficient

investment of a new company 3.1 Name of new company MBK Food Service Company Limited (“MBK-FSV”) 3.2 Nature of Business Operation Management raw materials, products finished goods, Semi-finished goods 3.3

finished product during the TAM, resulting in the better gross refinery margin in this quarter. For BCP Trading Pte. Ltd., revenue rose from the higher oil products trading transaction volume. Marketing

every finished product and crude oil price crack spreads, with supporting factors ranging from the maintenance of various refineries in North Asia, as well as concerns over supplies tightening after the

and took time to validate and eventually produce, therefore the company has to import the finished goods products for serving our protective coatings market. 3. The increasing of sells and

from operations, short-term loans, and long- term loans. Besides, McKey finished its Greenfield expansion of a new further processing plant with capacity of 30,000 metric tons per year in 4Q2017. GFN