, was from an increasing brokerage fee on higher market trading volume. In the amidst of the highly fluctuated market from the outbreak of COVID-19, the average daily market trading volume (excluding

Equity market trading volume comparing with the second quarter of 2018, and the share of loss from KT ZMICO’s associated company. However, KT ZMICO’s operating expense went down from last year as a result

per unit. Moreover, BCP Trading’ s sales volume rose, and there was an additional revenue realization from the Ethanol business after the business amalgamation in Q4/2017. Management Discussion and

strong across-the-board growth. The business sector remained challenged by new modes of competition amid the advancing digital age and the rapid pace of technological advancement, together with the

in brokerage fee, fee and service income and other revenue on lower market trading volume and fluctuated market condition, Krungthai ZMICO was able to strategically control cost and improve operational

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 2/2020 09 - Refinery & Trading 14 - Marketing 16 - Power Plant 18 - Bio-based Products 20 - Natural

resulted in the lower finished oil produced. Furthermore, there was an increase in transaction volume of BCP Trading, and a higher revenue realized from ethanol production and sales business (following the

shareholders of Millcon on the trading floor for the stock market of MILL No.4 (MILL-W4) according to investment policy and financial liquidity management of the Company which a disposition price of warrants to

committees and/or delegated person to disposition of the common shares held in Prinda Public Company Limited (“PRINDA”), which is manufacturing, trading and transporting of brick, stone and sand for

noticeable performance improvement. While the share of profit from KT ZMICO dropped due to the market fluctuations and lower equity market trading volume compared with last year, resulted in lower brokerage