year 2019. The MD&A would enable the investors to better understand the Company and its subsidiary’s 2019 audited financial statements. An Analysis of Performance * Analysis of Income The Company and its

estate developer and its customers. Although overall economy is soft, the Company’s target group of customers can maintain their purchasing power.   For recurring income business, the Company had adjusted

percent increase from last year, due to rising interest income as loan growth accelerated. However, loan impairment charges set aside for credit losses in compliance with IFRS9, which will be effective in

mainly from lower revenue from sales. Gross profit margin also decreased from 15.80% for 6M2017 to 13.94% for 6M2018. Other Income The consolidated other income in 2Q2018 was THB 86.18 million, slightly

gain (loss) on revaluation of investment (41.91) (12.27%) - 0.00% (41.91) 0.00% Earning before tax 19.51 5.71% 42.67 35.52% (23.16) (54.28%) Income tax expenses (7.52) (2.20%) 1.27 1.06% (8.79) (692.13

this was partially offset by an increase in financial cost for Project CROSSROADS Phase 1. Other income The other income for the six months ended of year 2020 was at THB 531.8 million, consisting of gain

by the gain on sale of Dusit Thani Princess Korat. The Company reported total revenue of THB 5,570 million in 2017, an increase of 2.7% yoy, mainly driven by a gain on sale of Dusit Princess Korat of

Income 72.48 2.18 73.39 1.69 (0.91) (1.23) Gain from Exchange Rate 28.70 0.86 17.95 0.41 10.74 59.84 Loss from Derivative (43.50) (1.31) - - 43.50 100.00 Selling Expenses (113.69) (3.42) (136.13) (3.13

Operation for 3Q/2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Statement of Income 07 Business Performance 07 Refinery

revenue of approximately THB 15mn per quarter since June 2019. Other income grew by 273.4% YoY or THB 1,872mn to THB 2,557mn, mainly from (i) gain from sales in subsidiaries company of Mo Chit Land THB