production after TAM, and KSL Green Innovatioin Plc. recorded an increase in total sales. However, ethanol business gross profit was affected by the raw material cost, such as the rising molasses price and

For 2018, the Company will still focus on achieving improved Profit Margin; namely: management of room rates for the Hotels Business, while negotiations and signing of purchase agreements for key raw

1085..96 Fax. 66 2323 9283 Management Discussion and Analysis (MD&A) Business operating results and financial position for the year 2017, in which the equity method is applied, of the Company could be

% ▪ Revenue from Restaurant Business 518.7 80.6% 468.4 77.4% -50.3 -9.7% ▪ Revenue from Sales of Raw Material 37.9 5.9% 34.3 5.7% -3.6 -9.4% ▪ Revenue from Food Delivery & Catering 49.1 7.6% 67.1 11.1% 18.0

, primarily due to decrease in withholding tax refund and retention receivables. • Inventories increased by Baht 21.46 million, primarily due to raw materials for engineering service and trading business. The

Jet Pulse System 1 12 10 4. Air Pump with Suspension Tank and Air Drier 1 12 10 Remark: * The information of Golden Arrow Coating Co., Ltd. 1) Detail of Business Golden Arrow Coating Co., Ltd is

information of Lessor 1) Name: Golden Arrow Coating Co., Ltd. 2) Detail of Business: Manufacturing of the oil paints, varnishes and wood oil 3) Directors’ Name 1. Mr. Rioishi Hori 2. Mr. Arkran Termritikulchai

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 1/2020 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural

increase of cost from raw material handling by the Company itself after terminate contract with Unit : million Baht Q 2/2019 Q 2/2018 Group Revenues 5,192 7,815 Group EBITDA 640 555 Group Net Profit (Loss

from CPO’s prices fluctuation. - Raw materials and By-product’s Quantity sold in the 3rd quarter of 2019 has contributed to 5.79% of total sales volume and 3.00% to total sales. Quantity sold decreased