Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business sustainability development 13 4. Management discussion and analysis (MD&A) 17 5

Classification : ใชภ้ายใน (Internal) Table of Contents Page Part 1: Business Operation and Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business

latter decreased in production due to the adjustment stock management to suitable with the decrease in HRC market price worldwide. - Gain on exchange rate was achieved of THB 193 million in Q2-2017, which

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Fourth Quarter and the Year Ended 31 December 2017 1. Q4/2017 Highlights Figure 1: Quarterly results

and operate the business on a continuous basis. Furthermore, the asset disposal above helps reduce the risk from the management of the financial structure, resulting in the increase of the liquidity of

approved under Chapter 1 or Chapter 2, who is an employee or a staff of the appraisal company in capital market and is not in suspending period of being lead appraiser ordered by the SEC Office or the

well as to approve the appointment, transfer and dismissal of the head of the internal audit unit or any other units responsible for the internal audit. - Review the risk assessment and risk management

well as to approve the appointment, transfer and dismissal of the head of the internal audit unit or any other units responsible for the internal audit. - Review the risk assessment and risk management

well as to approve the appointment, transfer and dismissal of the head of the internal audit unit or any other units responsible for the internal audit. - Review the risk assessment and risk management

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