treated water business and electricity production business. Therefore, there was no similar type of business in the industry that can be used as a benchmark for comparison. Not include transaction related

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 2/2020 09 - Refinery & Trading 14 - Marketing 16 - Power Plant 18 - Bio-based Products 20 - Natural

million in 3Q17 and 9M17, respectively. The main drivers were attributable to a decrease in room revenue due to three hotel renovations and an increase in administrative expenses to support business

recovery of some business sectors, including the export sector that continued to decline due to the economic slowdown in Thailand's major trading partners. This may affect the ability to pay of customers in

trends, changes in market/industry environments, and internal factors such as policies, strategies, management, changes in business agreements with potential impacts on the operation, as well as other

Classification : ใชภ้ายใน (Internal) Table of Contents Page Part 1: Business Operation and Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business

is profoundly impacting the global economy, especially the hospitality sector which is the main business of the Company. Almost all our hotels were temporarily closed since the second half of March

inventory shortfall damage and deferred tax assets/liabilities Exhibit 2 : Sales revenue and Adjusted EBITDA breakdown by business unit comparison of 1Q2020 vs. 1Q2019 vs. 4Q2019 (million THB) Sales Revenue

companies. Therefore, there was no similar type of business in the industry that can be used as a benchmark for comparison. Not include transaction related to the novation of the M&E systems under the

Corporation PCL) and KSL GI Limited Company (a subsidiary of Khon Kaen Sugar Industry PLC, KSL) the newly created company from the amalgamation is BBGI Co., Ltd., its main business is the production and selling