September 30, 2018, primarily due to an increase in retained earnings during the period. • As a result of the foregoing, net interest-bearing debt to equity ratio increased from 1.4 times as of December 31
2017 to Baht 1,842 million in 2018, primarily due to commercial operation of new plants and an improvement on financing cost mainly attributable to debt refinancing after issuing project bond in May 2018
2018. This was a result of a decline in merchandise exports owing to the economic slowdown of trading partners affected by trade protectionism and the impact of structural changes in the manufacturing
) estimating the world economy was on a direction towards the slowest growth since the 2008 financial crisis, and also revised their 2019 global economic growth estimate to just 2. 9 percent. Also, the
rate decelerated in accordance with the global economic growth which was affected by the trade war between the United States and China, together with the appreciation of the Thai Baht as one of the
year as a result of economic slowdown which impact most of projects to postpone their investment during the first half year. However, the Company expected that the revenue will increase during the second
accelerated spending in the first half of fiscal year. The situation is expected to benefit the company from economic recovery and private investment. In terms of total operating expenses, it usually varies
addition, higher household debts pressured consumer to carefully control their spending. (Source: Quarterly Economic Assessment and Outlook 3/2017 Bangkok Bank Public Company Limited) Performance Analysis
for the openness of the free trade policy Economic expansion in the developing countries and the continued growth of low-cost airlines, especially in Asia. For the total multi-products fuel