quarter of 2017. The main reasons were as follows:- 2.2.1 The profit of Hongsa Power Company Limited ("HPC"), a joint venture, in a portion of 40 percent increased in the amount of Baht 432.85 million; as

19,253 28,144 46.2% Net-int debt to equity (times) 1.5 1.0 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis PROGRESS OF PROJECTS UNDER CONSTRUCTION Current Construction Progress

Limited (SAFE) which is held 33.37 percent of total shares by ECF Power Company Limited (ECF-P) and ECF-P is the subsidiary held 99.99 percent by the Company. At the present, SAFE gains profit from biomass

Clover Power Public Company Limited (CV), the issuer of CV251A bonds, will convene the Bondholders’ Meeting No. 1/2568 electronically on 8 January 2025 at 10.00 hours. The e-meeting contains

by holding percent of total shares, invested to solar power plant with installation capacity 1.5 MW at Himeji Prefecture, Japan by holding 51% of total shares of the project and later this project was

, sales growth in this quarter would become approx. 15.0% over the same period of last year. Sales growth remains driven by Power Electronics business group, especially power supplies for automotive sector

ended June 30, 2017, the significant increasing expenses were administrative expenses, financial cost and including share of loss from investment in associates that the investing power plant projects have

by 4.40% QoQ as a result of ongoing repair and maintenance of the overall power generator which gradually improve power supply capacity and escalate power to grid. • Revenue from sale of industrial

19,253 19,964 3.7% Net-int debt to equity (times) 1.5 1.6 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis PROGRESS OF PROJECTS UNDER CONSTRUCTION Current Construction Progress

2017 Bangchak Corporation Plc. Table of Contents 7 9 09 8 Refinery Business 13 Marketing Business 14 Green Power Business 16 Bio-Based Products Business 18 Exploration & Production Business 22 26 24