Microsoft Word - GLOCON.012-2020 Clarification on the Company acquiring shares of Glocon ... GLOCON.012/2020 March 19th, 2020 Subject: Clarification on the Company acquiring shares of Glocon

increase of domestic production and inventory level of crude palm oil, the government decided to increase the biodiesel mandate from B5 to B7 on May 8, 2017. More than that, seasonal impacted to higher yield

, private investment slowed down as confidence in the election and the direction of investment from the government through large projects. In the first quarter of 2018, the Company installed and delivered the

palm oil inventory climbed up to c.425,000 tons in August 2017 which was higher than the historical average inventory of 200,000 tons. Therefore, the government announced the biodiesel mandate as B7 for

high, resulting to the soften Crude Palm Oil (CPO) and Crude Palm Kernel Oil (CPKO) price than that of 3Q2017. Under these circumstances, the government has maintained B7 mandate in this quarter. Besides

oil inventory remained high, crude palm oil (CPO) price continuously declined, as well as Crude Palm Kernel Oil (CPKO) price decreased. This year, the Thai government biodiesel mandate was set to B5 and

fund Investing in government bonds and corporate debt instruments with non-investment grade/unrated securities exceeding 20% but lower than 60% of NAV Mixed fund Investing in equities, debt instruments

domestic and international market, consequence to drastically lower crude palm oil (CPO) and crude palm kernel oil (CPKO) prices than that of 1Q2018. Under these circumstances, the government has maintained

wait for clarity from the election. Resulting in investment from the private sector Government slowdown high competition Customers postpone the plan and delay investment. Resulting in the results of

year, private investment slowed down as confidence in the election and the direction of investment from the government through large projects. In the second quarter of 2018, the Company have been