interest). The project connects the Thai Petroleum Pipeline Co., Ltd (Thappline) Terminal in Saraburi to TPN's owned terminal with storage capacity of 142 million liters in Khon Kaen, through a newly

Limited (TPN) (EGCO holds a 44.60% ownership interest). The project connects the Thai Petroleum Pipeline Co., Ltd (Thappline) Terminal in Saraburi to TPN's owned terminal with storage capacity of 142

., Ltd (Thappline) Terminal in Saraburi to TPN's owned terminal with storage capacity of 142 million liters in Khon Kaen, through a newly constructed 342.80 kilometers undergrounded pipeline which has an

business unit since there were Made to Order. Which is managing the raw material used to produce edible oil to be profitable. But the storage of crude palm oil cannot be stored separately. As a result, the

Company was possible to generate profit from this business unit since there were Made to Order. But the storage of CPO is not separatable, hence the cost of sales was fluctuated according to the raw

., which were the major shareholders of GLOW and minority shareholders in tender offer. The loan resulted in the Debt-to-Equity ratio of the company to be equal to 2.7 times which might increase after

1,689 million Baht. This was mainly due to the investments from Apollo and the fair value measurement since Q2 2017. Appropriateness of the Funding Structure In 2017, the Company had total debt to equity

the end of the prior year. The liquidity ratio (current assets to current liabilities) of the Group was at 13.87 times which increased from the end of the prior year. It was high liquidity. The debt to

Y2018 + Increased / -Decreased / -Decreased Employee benefits expenses 874.70 (28.45) 841.15 (32.00) Fees and service expenses 166.36 20.13 166.30 20.12 Finance costs 31.54 0.40 31.54 0.40 Bad debt and

(OTC) derivatives, investments in debt and equity securities for the Company’s own account, bond dealing, and private repos and other investments. 2. Expenses The Company’s expenses in 2018 were Baht