spread between finished product and crude oil in every product category, and from the higher average crude oil price; resulting in an Inventory Gain of THB 834 million, exceeding 2016’s. Moreover, there
insignificant alteration in total electricity sales. The solar power plant projects in Thailand has current PPA capacity at 138.9 MW, an increase from Q1/2018 after the commercial operation commencement of the
million mainly due to the decreased in revenue from Combine Heat and Power Producing Company Limited (CHPP) by Baht 19 million as a result of the lower revenue from solar cell implementation; despite the
to an inventory gain of THB 856 million. However, there was a loss from crude and product oil price hedging contract at THB 75 million. Furthermore, the refinery planned to manage the stocks of
and interest rate risks. Derivatives are recognized initially at fair value. Subsequent to initial recognition, they are remeasured at fair value and gain or loss on remeasurement to fair value is
million or 1% from Q3/2017, as a result of the Commercial Operation Date (COD) of IRPC-CP Phase 2 and Ichinoseki Solar Power 1 GK (ISP1) in Q4/2017 even though the selling and administrative expenses
million or 88.85 percent because in the last year the Company had a major other income transaction from selling 4 units of Country Complex condominium, net gain from selling was Baht 7.46 million. Page 2 of
electricity sales compared to the previous quarter, mainly attributed to electricity sales of the solar power plant projects in Japan, due to seasonal factors of which Q2 of ever year is a period of clear skies
expanding of production line. By the way, no significant change in sales and service income of Quarter 4 compared to Quarter 3 2019, except sales of electricity of Solar Energy Power Plant which increase by