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 Business Operation For the year ended 31st December, 2017 http://www.google.co.th/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjD7_TkjpnTAhUWTo8KHY7JB7MQjRwIBw&url=http://quotesgram.com/green-backgrounds-with-quotes/&bvm=bv.152174688,d.c2I&psig=AFQjCNHfu2LjFbO_WhPIgFLat0wGu3Y2zg...

services. This is in line with changing consumer behavior after the COVID-19 outbreak. 2023 Outlook Perspective on the Recovery After the Easing of COVID-19 Measures Presently, the situation of the COVID-19

44.6 43.8 45.7 44.7 44.3 45.5 46.3 46.4 47.7 49.9 49.7 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2023 Outlook Perspective on customers’ purchasing behavior In 2022, the customer confident index has

debt. In order to manage the company’s working capital to coincide with operations. As well as, managing debts to be paid on time. The company was able to secure funds, both short term loans and long

quarter. Meanwhile, Thai and US interest rates dropped at the beginning and the middle of the quarter. Short-term bond yields fell in line with the reduction of the policy rate, whereas the long-term bond

perspective to substantiate a solid platform instrumental in driving business expansions outside Thailand in the long run. Due to our equity investments in ICUK, its financial performance and position have been

-up phase. However, we believe that our feat of endeavors as mentioned shall be considered an investment from strategic perspective to substantiate a solid platform instrumental in driving business

Flows Statement 28 Financial Ratios 30 Environmental Management Accounting 31 Management’s Perspective towards 2019 Performance Management Discussion and Analysis of Business Operation for FY2018 Bangchak

Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Statement of income 11 Financial Position 32 Management’s Perspective towards 2020

2017. TRIS Rating, an associate of S&P in Thailand has affirmed the Company’s rating of “A+” and revised upwards its outlook to ‘Positive’ from an earlier ‘Stable’. From a performance perspective, this