global trade volume affected by trade tensions and the impact of structural changes in the Thai economy on export sector. Public expenditure and private investment would expand slower than the previous

almost all nationality groups, especially the number of Chinese tourists. Meanwhile, domestic demand expanded at a gradual pace both the private consumption and investment. Public expenditure remained an

almost all nationality groups, especially the number of Chinese tourists. Meanwhile, domestic demand expanded at a gradual pace both the private consumption and investment. Public expenditure remained an

full-year contribution from Invista Germany. Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance

year that IVL realize full-year contribution from Invista Germany. Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of

over the last eight quarters. Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance sheet and cash

2018 MD&A 7 Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance sheet and cash flow generation are

the impact of US sanction which led to the depreciation of Russian ruble. However, domestic demand continued to expand, private consumption expanded well in most spending categories thanks to the

$150 million in 3Q18 vs $149 million in 3Q17, supported by increase in EOEG and integrated North American PTA margins. Indorama Ventures 3rd Quarter 2018 MD&A 9 Capital Expenditure Program We continue to

the impact of US sanction which led to the depreciation of Russian ruble. However, domestic demand continued to expand, private consumption expanded well in most spending categories thanks to the