action that gives rise to the reporting obligation. 2 9. For reporting in the event of the acquisition or disposition of shares issued by a business or of convertible securities, please provide details of

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the year ended December 31st, 2018 Management Discussion and Analysis of Business Operation for FY2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Important Events 08 Statement of Income 10 Business Performance 10 Refinery & Trading Business Group 15 Marketing Business Group 17 Power Plant Business Group 19 Bio-Ba...

payment. Current investment decreased by THB 2,257 million due to divestment in debt securities (see more details in notes to financial statement 4 Other investments). Net PPE increased by THB 1,739 million

benefits in the contractual terms. Selling expenses were THB 1,968 million, a decrease of THB 552 million or 21.9%, representing 13.2% of total sales, down from 17.5%. The details of key expenses were as

securities (see more details in notes to financial statement 7 Other investments). Net PPE increased by THB 2,407 million from investing in a new glass factory (SGA2), a new beverage factory in Myanmar and

1,847.1 million and Baht (13.5) million, respectively. Total Revenue and Share of Profit/(Loss) of Utilities Business was Baht 1,833.6 million, a 7.5% increase from 2018. The details have shown in the table

2016 will be realized quarterly from 1Q17 to 4Q20 (see more details on MD&A 4Q16). Financial position Comparing with 4Q16, as of 1Q17, AIS had total assets of Bt279,147mn slightly increasing 1.3% mainly

details of cash flow were as follows: 2.1.1 Cash and cash equivalent of Bt2,530.6 million which cash flow summarized for the first six months of 2017 were below ;- - The Group’s net cash from operation was

details as follows:  Cash and cash equivalent (including current investment of Baht 2,000 million) increased by Baht 3,217 million or 609% from cash from operations of Baht 935 million, cash from IPO of

31, 2016. The important details of cash flow were as follows: 2.1.1 Cash and cash equivalent of Bt2,094.9 million which cash flow summarized for the nine months of 2017 were below ;- - The Group’s net