business through BCP Trading Co., Ltd., the company’s performance has improved from a higher transaction volume in terms of product line, and new trade partners. Marketing Business Group has exhibited

to the same period of the previous year. The main reasons was the weaken sales due to the impact of trade wars that have the broad impact on global supply chain and through Thailand's exports. As such

Cash 19,637 6.8% 18,421 5.3% Interest-bearing debt to equity (times) 1.4 1.6 1.3 ST investment 1,989 0.7% 1,921 0.5% Net debt to equity (times) 1.0 1.3 1.0 Trade receivable 16,277 5.6% 16,579 4.7% Net

Company Limited pursuant to Share Pledge Agreement dated 18 May 2017. Conditions for the debt repayment between WPS and the Company The Company and affiliates will repa all of the unpaid debts which are

investments 1,210 15.2% 894 10.9% Trade & other receivables 763 9.6% 815 9.9% Equipment – net 1,503 18.8% 1,671 20.3% Investment in JVs, associates and other long-term investments 1,373 17.2% 1,340 16.3

and THB 2,752 Million during the last 6 months. Apart from debt reduction, the cash injection from rights issue is enabling the Company to take up several critical Capex for operational improvements and

31% as compared to the same period last year of 260 million Baht. This was due to continuous effort in debt repayment in forms of Bill of Exchange, debentures and financial institution loans. The

(Decreased) % Assets Current assets Cash and cash equivalents 8.54 31.33 (22.79) (72.74) Trade and other current receivables 224.54 186.08 38.46 20.67 Contract assets 518.21 564.88 (46.67) (8.26) Inventories

financial position remains strong with low debt-to-equity ratio and high current ratio. Global Green Chemicals Public Company Limited Management Discussion and Analysis | 3 10% 90% 1Q2019 41% 59% 1Q2018 444 8

1Q2020, overall palm oil production in both domestic and international market declined due to the significant impact of drought on agriculture. According to Department of Internal Trade, local crude palm