while other non-interest income declined yoy. Overall operating expenses also declined from effective cost management when comparing to the same period last year. The Bank continued to remain prudent when

prudent measure in provisioning for 5 additional impairment on revaluation of foreclosed. After assessing the continued uncertainties from the current situation, the Bank also prudently set up additional

at the Land Office where the lands are located. So that, the Company’s Board has considered the value of the lands are appropriate by taking the same condition of evaluating price of the Land

2018), which is higher than 0.03% but less than 3% of the Company’s NTA. Evaluating the size of all recent 6 months of the Company and its subsidiaries prior to the Transaction date regarding the Related

2017 and 34.7 to 36.2 in 2016. However, the company has no policy to speculate on the exchange rate but continues its prudent policy in the full hedging on net position of each currency’s exposure to

per ton (YoY) in an otherwise strong season. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in IVL’s core earn- ings follows on from IVL’s consistent strategy of prudent

earnings im- pact from the seasonal maintenances. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in core earnings follows on from IVL’s strategy of prudent invest- ments in the higher

to speculate on the exchange rate but continues its prudent policy in the full hedging on net position of each currency’s exposure to minimize potential impact from exchange rate fluctuation. Source

once again in 2019. However, the company has no policy to speculate on the exchange rate but continues its prudent policy in the full hedging on net position of each currency’s exposure to minimize

will consider with the value of the return on investment in with this method of estimating the income and profit and loss of the project in the future including evaluating business risks. Howerver, based