related to selling activities e. g. marketing advertisement expenses, but lower in administrative expenses such as personnel and advisory related expenses. 5. Loss from crude and product oil price hedging

ลงทุนในหลักทรัพย์ต่างประเทศของสมาคมบริษัทหลักทรัพย์ไทย ซึ่งสำนักงานให้ความเห็นชอบ   หนังสือเวียน แนวทางการปฏิบัติ เรื่อง การให้บริการเกี่ยวกับแผนจัดสรรการลงทุน (Portfolio Advisory) หรือกลยุทธ์การลงทุน

Million, as appraised by Advisory Plus Company Limited, the Company’s financial advisor, based on the Discounted Cash Flow Approach, which reflects the future operational results of XPCL. Furthermore, such

Limited  Land and Houses Bank Public Company Limited  Land and Houses Fund Management Company Limited  Land and Houses Securities Public Company Limited  Land and Houses Advisory Company Limited On July

to render opinions on entering into disposal of asset transactions and connected transactions to the Company’s shareholders. In this regard Capital Link Advisory Co., Ltd. has been appointed as the

of Baht 2,065 Million, as appraised by Advisory Plus Company Limited, the Company’s financial advisor, based on the Discounted Cash Flow Approach, which reflects the future operational results of XPCL

 Land and Houses Bank Public Company Limited  Land and Houses Fund Management Company Limited  Land and Houses Securities Public Company Limited  Land and Houses Advisory Company Limited On July 27

, which appraised By Orion Advisory Company Limited as the financial advisor of the Company. Nevertheless, the financial advisor of the Company has the opinion that the adjusted book value approach is the

to THB 89 million and THB 32 million respectively, due to resumption of own production and increase in Recurring Fees paid according to Financial Advisory Services Agreement. Consolidated Selling

Financial Advisory Services Agreement. Total consolidated administrative expense for the year 2019 and 2018 amounting to Baht 940 million and Baht 843 million, respectively, increased by Baht 97 million. Gain