through economies of scale. GFPT Group has policy to mitigate risks from foreign exchange rate volatility, which occurred from export sale and raw material importation by hedging forward contract from

the 2nd Quarter 2020. GFPT Group has policy to mitigate risks from foreign exchange rate volatility, which occurred from export sales and raw material importation by hedging forward contract from

slowing demand for high Sulphur vessel fuel, in preparation to the compliance for the use of Low Sulphur vessel fuel with Sulphur content not exceeding 0.5% in 2020, and Japan’s decreased importation of