guarantor for the transfer of the sale shares of RPV. BCPG will established BSE Power Holdings (Thailand) Company Limited (“BSE”) as a new subsidiary whereby BCPG will hold 100 percent of the total shares

Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of

) KEY HIGHLIGHTS • Total revenue and share of profit, and net profit were THB 1,277.8 mm and THB 99.3 mm, respectively, consisting of the normal business operation and FX impact, which was mostly

strong across-the-board growth. The business sector remained challenged by new modes of competition amid the advancing digital age and the rapid pace of technological advancement, together with the

7.4 738.4 151.5 Gain from transfer of right for land purchase and sale agreements - - 312.0 1.9 312.0 100.0 Gain on disposals of investment in subsidiaries 641.1 6.4 314.8 1.9 (326.3) (50.9) Other

3,689.6 91.9 8,837.2 82.6 5,147.7 139.5 Revenues from project management - - 1,037.4 9.7 1,037.4 100.0 Gain from transfer of right for land purchase and sale agreements - - 312.0 2.9 312.0 100.0 Gain on

“CFP”) of Thai Oil Public Company Limited (“Thai Oil”); to accept the transfer of ownership in the ERU Project from Thai Oil, with a total value of not exceeding USD 757 million (which is equivalent to a

from Utilities Business consists of Excessive Charge for additional Utilities demand and Service Fees for Wastewater Management. 3 Gross Profit from Operation excludes Other Income from Utilities

support the growth of the business amounting to THB 211.53 million and the acquisition of program rights by transfer from this account amounting to THB 318.51 million. The balance of this account can be

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