strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816
Service The Company does not have refining service revenue since the 2nd quarter of 2019 because have not enough capacity to services. 1.3 Refined Glycerine In the 2nd quarter of 2020 had revenue of 43.04
quarter of 2019 because had not enough capacity to services. 1.3 Refined Glycerine In the 3rd quarter of 2020 had revenue of 33.56 million Baht which decreased by 22.00% from the 2nd quarter of 2020, which
productions. 1.2 Revenue from Refining Service The Company had no refining service revenue since the 2nd quarter of 2019 because there was not enough capacity to services. However, the Company is in the process
% q-on-q declining gas price (despite a 1.0% y-on-y increase) and 3) new industrial-user (IUs) clients. EBITDA margin also improved to new-high level of 28.3%, thanks to contributions from Vietnam solar
machinery, equipment and related expenses to increase the production capacity of the flexible packaging products another Baht 40 million. This is to increase the proportion of high gross margin products. In
capital increase is to expand the capacity of flexible packaging products, to repay the loans and used as working capital. Details are shown in Capital Increase Report Form (F 53-4) (Attachment 1). 4
crude oil prices we expect to see improved performance in the laggards of 2Q20. • Liquidity in the company remains high with cash and cash equivalents of US$0.8B and unutilized credit lines of US$ 2.0B
high probability towards 2018 and afterwards, if China and major steel producing countries do not adequately use effective measures for steel production control. Chart of world steel production capacity
while big portion of idle capacity still existed. Hence, the oversupply risk will pertain with high probability towards 2018 and afterwards, if China and major steel producing countries do not adequately