leasehold right for One City Centre project (“OCC”), which was recorded under a subsidiary, was deconsolidated from the Company’s consolidate financial statement after MEA Commercial Holding Pte. Ltd

nine-month (April to September 2018) . The company acquired the subsidiary company in Q2/2018. In the previous year, consolidate financial statement included commission expenses for the acquisition of

รวมขอ้มลูการลงทนุของสมาชกิ PVD (consolidate statement) ▪ ตอ้งเป็นผูท้ีไ่ดรั้บใบอนุญาตการใหบ้รกิารเป็นนายทะเบยีนหลกัทรัพยต์ามกฎหมายหลกัทรัพยฯ์ ▪ ใหส้ามารถ pay in kind เพือ่ลดผลกระทบการขายทรัพยส์นิในกอง

earnings im- pact from the seasonal maintenances. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in core earnings follows on from IVL’s strategy of prudent invest- ments in the higher

capacity utilization following a steady contraction in export value. Meanwhile, public investment expanded as a result of an acceleration in disbursements by the government. Headline inflation in the second

margins corrected to LTM 2Q18 level HVA 284 271 268 • PEO, NDC, Packaging margins steady • IPA margins lowered to sustainable level • HVA Fibers margins to expand post 1H18 supply issues • Avgol, Kordarna

, Hygiene and Lifestyle. Each vertical has a dedicated management team tasked to consolidate its asset footprint to capture combinatory synergies. This is progressing well to date in 2020. The Lifestyle

m o     2017 MANA Service reve Handset sal Consolidate CAPEX  Dividend pa Build strong lea In 2016, after a demand for qua 4G  network.  T deployment of  migrating 2G us Selectively exp Since the

region of Thailand with feed-in tariff structure of 5.66 baht per KWh. The project has reached COD in December 2015 and will operate until December 2040. We expect to consolidate BGYSP’s financial

July 2018 with a gain from business combination of Baht 276 million which should be amortised by Baht 12 million per annum along the PPA life. BGRIM started to consolidate BGYSP’s financial statement in