economic and social development of the country. It also helps country prepare for change in response to various impacts arising from the increasing uncertainty and volatility we are facing today. Moreover

from the completion of Wastewater Collection System in HESIE and HESIE4. Power Business  In 2Q2017, our Share of Profit from Investment in Associates and Joint Ventures (“Share of Profit from

electricity consumption behavior change, influenced by disruptive technology. The objectives of the new PDP aim to strengthen security of power supply for each region, maintain appropriate costs of power

shall be authorized to take any arrangements necessary and relating to such matters on behalf of the Company until completion, including but not limited to negotiations, amendment of the contents in the

. However, in this period the borrowing cost is recognized as the financial cost due to the completion of the plant construction. (7) Share of profit (loss) from investment in associated company and joint

business. Financial Cost Total cost of financing primarily resulted from interest costs in association with project loans, which are capitalized as development costs for respective projects till completion

projects till completion. Thereafter, such interest costs will be recorded as finance costs in the Statement of Income. Upon project completion, loans are repaid in installments along with transfer of

completion of this transaction (it is estimated to complete within the second quarter of 2019), those three directors nominated by the Company will resigned. Shareholding Structure : Existing Shareholding

( “ the Company” ) would like to submit our management’s discussion and analysis for the fiscal year ended December 31, 2019, as follows: For the year ended December 31 Change 2019 2018 MB MB % Sales

data, particularly those from outside the company. In addition, any forward looking statements are subject to change as market conditions and actual outcomes may differ from forecasts. BAM makes no