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...

of food and beverage constituted costs of operating in-mall food centers, as well as depreciation and repair & maintenance costs of food center equipment and furniture, and decoration costs. In 2018

of food and beverage constituted costs of operating in-mall food centers, as well as depreciation and repair & maintenance costs of food center equipment and furniture, and decoration costs. In 2018

-19 Change (%qoq) Change (% yoy) Other operating expenses Employee expenses 2,143.56 1,836.94 16.69 597.71 (10.27) 0.42 Director’ remuneration 20.10 10.84 85.42 8.12 171.26 320.60 Premises and equipment

amounted of Baht 675.7 million, increased by 2.1% when compared to the third quarter of 2016, almost of the increase of employees’ expenses and premises and equipment expenses that provide for business

2.1% when compared to the third quarter of 2016, almost of the increase of employees’ expenses and premises and equipment expenses that provide for business expansion. The ratio of operating expenses to

the end of 2016, with the decrease mainly being a reduction in the inventory on hand, trade and other current receivables as well as in property, plant and equipment. Current Assets as at September 30

-term investments 25,474.8 28,506.3 (3,031.5) Property, plant and equipment 14,496.4 12,793.4 1,703.0 Total Non-current assets 45,124.4 46,096.5 (972.1) Total assets 57,353.1 60,288.7 (2,935.6) Current

assets Investments in subsidiaries - - 0% Advance payment for purchases of property, plant - - 0% and equipment 210 210 0% Property, plant and equipment 27,438 28,739 -5% Intangible assets 13 15 -16% Other

to the fourth quarter of 2016, almost of the increase of employees’ expenses and premises and equipment expenses that provide for business expansion. The ratio of operating expenses to total operating