Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 13 Executive Summary Revenue and net profit have growth according to the business plan In 2Q18, the Thai

2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 December 2017 Executive Summary Thailand’s economy in

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 14 Executive Summary CPN’s revenues continues to grow primarily from strong shopping mall performance

new directors to hold more than half of the board seat, and will appoint executives to hold key managerial positions, including the Chief Executive Officer (CEO) of the Company. The said Allocation and

more than half of the board seat, and will appoint executives to hold key managerial positions, including the Chief Executive Officer (CEO) of the Company. The said Allocation and Offering of the Newly

million, the impairment of assets of Baht 101.99 million, finance costs of Baht 0.41 million, share of loss from associates of Baht 13.94 million and management benefit expenses of Baht 24.06 million

subject to the Company’s net tangible assets (NTA), greater than THB 20,000,000 and greater than 3 percent of the Company’s net tangible assets pursuant to consolidated financial statement for the period

Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 20 22 24 26 Executive Statement Summary of Income Business Performance 08 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

| 2 Executive Summary In 2019, overall palm oil production and crude palm oil ( CPO) inventory remained high in both domestic and international market, although the inventory plunged to a minimum record

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary CPN’s revenues continues to grow according to its business plan. In 1Q19, the Thai