230 mn Project Risk HSMC is exposed to the foreign exchange rate movement due to the revenue is denominated in USD Expected Benefit Company expects that projects shall create the IRR of at least 10% 4.2

., the difference between the Offer Price and the original cost which the Offeree has paid for the tendered securities. The Offeree must declare the original cost of such tendered securities to the Tender

cost” resulting in the difference of maintenance cost being reported in Q1/2020 from the previous periods PAGE 11PAGE 11 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1/2020 Operating Results Revenue The

incurred from the acquisition of GLOW. However, the net profit of the company excluding amortization of the difference between fair value and book value of the net assets of GLOW (Adjusted Net Income

(UNOFFICIAL TRANSLATION) Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for reference. Notification of the Capital Market Supervisory Board No. Tor Jor. 17/2561 Re: Application and Approval for Offer for Sale of Newly Issued Debt Securities _______________________ By virtue of Section 16/6 and Section 89/27 of the Securities and Exchange Act B.E. 2535 (1992), as amended by the Securities and Exchange Act (No. 4) B.E. 2551 (...

/losses from reported EBITDA. Inventory gains/losses in a period result from the movement in prices of raw materials and products from the end of the previous reported period to the end of the current

following global crude oil price movement, led to an improvement of gross profit. However, production and sales volume decreased according to the Natural decline curve. In this quarter, there was a loss from

maintenance in Q4/2018. Even though, the Ft rate during September-December remains at -15.9 Sa-tang per unit, the natural gas prices in Q4/2018 are expected to rise from Q3/2018, in line with upward movement of

loss and its movement shall be recognized to reflect the change of credit risk since initial recognition.  Hedge accounting which determines the type of transactions eligible for hedge accounting

" of the Securities and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between the two