of the virus has caused demand for consumption of fuel around the world to decline with significance. This factor is putting pressure on the price of crude and finished product to drop significantly

is considered as an acquisition of assets in accordance with the Notification of the Capital Market Supervisory Board No. TorJor. 20/2551 Re: Rule on Entering into Material Transactions Deemed as

price of crude and finished product to make its downward trend. With demand for fuel consumption declining across the globe, combined with the Organization of Petroleum Exporting Countries [ OPEC] and

Rule”). Currently, the Company focus on the business expansion of the crude palm oil (CPOA) trading business for biodiesel as there is a high potential growth and will partially conducting a trading CPOA

Concerning the Acquisition and Disposal of Assets B.E. 2547, dated October 29, 2004 (as amended) (collectively, the “Acquisition and Disposal Rule”). The transaction size when calculated under the value of

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. Gross refinery margin was 6.66 USD/BBL (+1.04 USD/BBL YoY, +0.28 USD/BBL QoQ), GRM was higher from the increase in crack spread of most finished oil products, while Dated Brent and Dubai crude spread (DTD

that happened in the 2nd quarter of 2020, the Company had the production cost increasing from the improvement of work in process products to be the finished goods in order to be able to sell efficiently

increasing significantly from the improvement of work in process products holding for a long time to be the finished goods in order to be able to sell efficiently again. This resulted in an increase in the

Net Tangible Asset (NTA), and is not a related transaction and that the size of the transaction does not require us to disclose the information in accordance with the disclosure rule for acquisition and