foreign currencies forward contact. 4 Management Discussion and Analysis of Business Operation for Q1/2020 Bangchak Corporation Plc. | The Refinery and Oil Trading Business recorded Gross Refinery Margin of

of Things (IoT) will make security systems more vulnerable to cyberattacks. Looking forward, cyber security risk will remain critical in line with an increasing volume and value of economic and

monitor credit quality and maintained high levels of capital buffers and loan loss provisions to facilitate credit expansion going forward. Credit Rating Land and Houses Bank Public Company Limited is

consumption for domestic flights. As of 30 June 2017, the Company has entered into a forward purchase contract (fuel hedging) at the average of 60.91 percent of fuel consumption. Cost of Passenger Services

and maintained high levels of capital buffers and loan loss provisions to facilitate credit expansion going forward. Credit Rating Land and Houses Bank Public Company Limited is assigned the company

and private investment going forward. In addition, tourism revenue is expected to rise satisfactorily. Government expenditure is also projected to expand further as infrastructure projects are being

large infrastructure projects will continue to support the economic growth and help bolster private investment recovery going forward. Nevertheless, monetary policies in the US and Europe necessitate

consumption for domestic flights. As of 30 September 2017, the Company has entered into a forward purchase contract (fuel hedging) at the average of 60.98 percent of fuel consumption. Cost of Passenger Services

percent of fuel consumption for domestic flights. As of 31December 2017, the Company has entered into a forward purchase contract (fuel hedging) at the average of 62.0 percent of fuel consumption. Cost of

ล่วงหนา้ Futures, Options, Swaps, Forward, และ Credit Derivatives ซึ่งส่งผลใหฐ้านะการลงทนุในสินทรพัย์ สงูขึน้ (Leverage) ทัง้นี ้กองทนุหลกัใชเ้ครื่องมือ Value-at- risk (VaR) ในการติดตามและบรหิารความเส่ี