degradation in many regions, including the loss of biodiversity and declining wildlife populations, deforestation, desertification, water scarcity, climate change, and air and water pollution.1 The Royal Thai

Limited (RPCL) as Independent Power Producer (IPP) has a declining revenue trend. The company’s net profit in Q4/2018 was Baht 486 million, decreased by Baht 413 million or 46% from Q3/2018 due to the

/DB) in 2018 was averaged at -2.64 $/BBL, a decrease of 0.31 $/BBL compared to 2017, with pressures from the sales of High Sulphur Fuel Oil that has been successively declining, due to the new measures

Limited (RPCL) as Independent Power Producer (IPP) has a declining revenue trend. The company’s net profit in Q4/2018 was Baht 486 million, decreased by Baht 413 million or 46% from Q3/2018 due to the

China that escalated, after the two countries retaliate against each other by increasing duties on imported goods, which has led to declining growth of global demand for oil. Also, oil price received was

, respectively. 5.2 Liability Analysis As of December 31, 2017 the total liabilities were 113,476 million Baht, decreasing by 1,181 million Baht or 1.03% from the year 2016. The details are as follows: Page 26

letter of credit or a letter of guarantee issued by a financial institution is used as collateral given to the securities lender, the returning collateral could be canceling or decreasing the limit of the

credit or a letter of guarantee issued by a financial institution is used as collateral given to the securities lender, the returning collateral could be canceling or decreasing the limit of the letter of

credit or a letter of guarantee issued by a financial institution is used as collateral given to the securities lender, the returning collateral could be canceling or decreasing the limit of the letter of

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...