resulted from reduction in working capital due to termination of tolling and repayment of short-term loan USD 20 million from the cash received from Right-offering received in previous quarter.  Gain from

branches. 110.00 38.66 71.34 2. Repay loans from financial institutions. 250.00 250.00 - 3. Working capital is used to purchase products and work capital in the business. 117.30 117.30 - 4. Invest in

the process of establishing a working group consisting of related agencies for integrated enforcement actions, including legal actions on the offenses of share price manipulation against which the SEC

institution, enabling us to cope with possible economic fluctuations in a timely manner. C Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2017 and

Inventory gains/(losses) 4Core Net Profit is Reported Net Profit less Inventory gains/(losses) one-time extraordinary items 5Operating Cash Flow is after change in net working capital and cash tax, before

EBITDA less Inventory gains/(losses) 4Core Net Profit is Reported Net Profit less Inventory gains/(losses) one-time extraordinary items 5Operating Cash Flow is after change in net working capital and cash

Presenting a world-class documentary providing useful information for living, inspiration for success, and lifestyle such as culture, sport, environment, family, and others responding the urban Enclosure Page

change in net working capital and cash tax, before maintenance capex Indorama Ventures 2nd Quarter 2019 MD&A 3 Summary 2Q19 results IVL’s performance for the first half and ongoing progress give us the

Flow is after changes in net working capital and cash tax, before maintenance capex. 6 Business Segments Definitions IVL now categorizes its businesses in three segments. This section of the document

CPN’s philosophy on sustainable business operations by taking into consideration the interests of the whole, the environment, the related parties and continuously partake in driving the well-being of