objectives that CRAs, regulators, rated entities, obligors, underwriters, arrangers, and other market participants should strive toward in order to improve investor protection and the fairness, efficiency and
natural hedge against short-term volatility in product margins. Core EBITDA margin has enhanced from 6.4% in 2013 to 11.4% in 2Q17 and this is targeted to fur- ther improve from the various strategic
businesses also enabled the Company improve its ability to capture a wider portion of the earnings value chain. These strategies have led to IVL becoming a global industry leader not just in terms of market
Thailand from July- November 2018 declined at 12.0 percent, but the situation started to improve in December. As a result, the 3 ASIA’S BOUTIQUE AIRLINE overall Chinese arrival to Thailand increased at 2.8
reduction of risks of the loss arising from instability of utility systems for the industrial users. 7.5 The Company will be able to effectively improve the overall operating performance (operation synergy
effectively improve the overall operating performance (operation synergy) of the combined business as it will be able to manage power generation and utility systems, infrastructure and electricity/steam network
position of PCCA shows a relatively low rate of liquidity, namely, in 2017, PCCA’s ratio of current assets to current liabilities amounted to 0. 49 times. Should PCCA’ s operating results improve, its
amounted to 0.49 times. Should PCCA’s operating results improve, its liquidity will improve accordingly. In the long run, it may consider disposing certain assets, e.g., the head office or certain unused
shall be beneficial to the Company as the disposal of such assets will help improve the Company’s financial position by lessening its liabilities and increase its liquidity and cash flows. Page 3 of 6