$/BBL, a decline of 19.69 $/BBL, or a decline approaching of almost 40% from the previous quarter. This has affected the performance of the refinery business. Moreover, the Thai economy, especially
., which were the major shareholders of GLOW and minority shareholders in tender offer. The loan resulted in the Debt-to-Equity ratio of the company to be equal to 2.7 times which might increase after
(UNOFFICIAL TRANSLATION) Codified up to No.12 As of 6 August 2018 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference
Governance Project" of the Securities and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between
exchange rate for year 2019 and 2018 amounting to THB 216 million and THB 105 million in respectively due to the strengthening of the Thai Baht against the US Dollar. • Net gain from write-off expired legal
Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between the two languages, the Thai version
ด4 UNOFFICIAL TRANSLATION Codified up to No. 2 As of 20 February 2017 Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for