business registered a lower EBITDA in 4Q19, as a sharp decline in margins offset an increase in volumes. The margin decline was driven by the unwinding of accumulated inventories in China during the quarter

decreased from lower sales volume of processed food which decreased by 24.07% which partially offset by 16.94% higher selling price comparing to 3Q2016. GFPT Public Company Limited Interim Management

in 6M’2018, primarily due to a decrease in demand of industrial users in Amata City Industrial Estate, despite partly offset by an increase in demand of industrial users in Amata Nakorn and Laemchabang

9M’2018, primarily due to a decrease in demand of industrial users in Amata City (Rayong) Industrial Estate, despite partly offset by an increase in demand of industrial users in Amata City (Chonburi

%, with organic growth contributing 9%, demonstrating the strong market demand for PET as IVL being the global leader in this space. However, volume increase was offset by a decline in EBITDA/t which was

across all segments;  Carbonated soft drinks (where lower availability of fountain due to lockdown & due to shortage of Aluminum cans has resulted PET as preferred packaging material for converters offset

offset with positive impact from the new TFRS 16 – Lease of THB 19 million and 14 million, respectively. Dusit Thani PLC Management Discussion and Analysis For 2Q20 and 6M20 P a g e | 5 Without the

higher demand from large format packaging, however, is partly offset by lower bico PET demand which goes into non- food & beverage applications. Integrated Oxides and Derivatives Our integrated oxides and

non-controlling interest of Baht 78 million decreased by 256.2% YoY due to the COVID-19 pandemic offset with positive impact from the new TFRS 16 – Lease of Baht 2 million. The net profit attributable

loss on properties for sale in 2016 which resulted from the revaluation of the appraised value of properties for sale, partially offset by an increase of certain taxes on revenue from accrued income from