improved by 31%, Fibers improved by 10% and feedstock improved the most by 46% Y-o-Y. We expect imports and customers to continue to exert margin pressure; however the im- provements seen in the PET business

aspirations Indorama Ventures 2nd Quarter 2018 MD&A 4 Portfolio Development We continue to upgrade our portfolio through organic growth, operational excellence initiatives, value accretive acquisitions and

 Industry fundamentals continue to be positive, led by strong demand growth outlook for 100% recyclable PET, supply balance and on-going restructuring seen in the PET and PTA industry with limited new supply

Net operating debt to equity at 0.61 times with strong operating cash flow. Dividend payout remain much higher than its stated policy of 30% of net profits. Perpetual debenture of THB 15b refinanced at

การเลิกบริษัท (“perpetual bond”) ซึ่งเป็นตราสารหนี้ที่ไม่มีการกำหนดอายุและไม่สามารถไถ่ถอนได้ทันที หากผู้ลงทุนต้องการเงินต้นคืน ต้องรอจนกว่า issuer จะเป็นผู้กำหนดให้มีการไถ่ถอน และเป็นหุ้นกู้

from Japan perpetual license deal. Corrective actions and controls are in place to mitigate rising labor costs and improve forecasting and purchasing practices. Selling and Administrative Expenses In Q2

% decrease in gross profit versus prior year due to a challenging US retail environment higher food costs, changing product mix and 2017 carry over benefit of $700K from Japan perpetual license deal

productivity and costs. We continue to engage leading external experts to bring the tools and practices that will provide effective ways to execute the Olympus initiatives, enabling IVL businesses to achieve

. The SEC and the AOP will continue to collaborate to support the use of PVDs as an important tool for long-term savings and investment and a key financial resource for employees after retirement. The

system. Different working teams are assigned to work remotely to mitigate operational risk and ensure that the operations and the services to the public will continue without interruption,” said Ms