expiration during 2016-2025 to build new power plants under another 25-year period of PPA while those with the PPA expiration by 2021 is eligible PPA extension for up to 3 years while the new power plants are

of disposal of asset during the period of six months prior to the date on which the Company’s Board of Directors has approved to dispose all investments in NML, i.e. one transaction of the disposal of

Road, Tharang Sub-district, Bang Khen District, Bangkok 10230 Tel: 02-943-6663-4 Fax: 02-943-6343 02-943-7740 a lump sum basis, whereby bids may be submitted during the period from December 3, 2018

driver supporting the Thai economy. However, tourism sector remains highly contracted for the second consecutive quarter due to no entry of foreign tourists during international travel restrictions of

mainly from wholesale and retail businesses. This was due partly to the fact that businesses had less working capital during the Covid-19 lockdown, while fundraising by large corporates from bond markets

estimates that the Thai economy in the third quarter of 2017 may have maintained growth of 3.8 percent over-year, slightly higher than the 3.5-percent growth during the first half of this year. Broadly

2018 to be 86% of the amount stated in the agreement, which is considerably high. Aside from this, the increased demand during Winter had refineries around the world maximizing their utilization rate

maintenance schedule in this quarter as there was in Q4/2019, as well as the reduced financial costs after the financial restructuring of the short-term loans repayment plan during Q4/2019 and Q1/2020. When

jumpstarting economic growth. The US central bank slashed its policy rate for the second time this year during its September meeting, and may make another rate cut during the remainder of 2019. Meanwhile, the

snow condition in Japan during the first quarter of 2018, resulting in the increase in gross profit by Baht 88 million. Management Discussion & Analysis Management Discussion & Analysis (MD&A) Q2/2018