. Total GRM increased by 5% YoY and 17% QoQ from the improved Market GRM that rose due to significant increase of production after the turnaround maintenance (TAM) , combined with crude cost that benefited

). Total Gross Refinery Margin (Total GRM) rose 67% YoY and 26% QoQ, while Market GRM lowered from the decreasing production volume. Moreover, the average crude price adjusted upward in the quarter, leading

in competitor and the economic downturn in the country. Gross Profit The Company’s gross profit in 2017 is THB 99.52 million equivalent to 25.30 percent, in which the gross profit margin of the Company

equivalent to 11.46 percent due to increases in competitors and the economic downturn in the country. Gross Profit The Company’s gross profit is THB 79.70 million equivalent to 25.83 percent, in which the

competitor and the economic downturn in the country. Gross Profit The Company’s gross profit in 2017 is THB 99.52 million equivalent to 25.30 percent, in which the gross profit margin of the Company has

percent, due to increases in competitors and the economic downturn in the country. Gross Profit The Company’s gross profit for 1st Quarter 2018 was THB 30.26 million, represent gross profit margin of 26.21

| 2 Executive Summary In 3Q/2019, overall palm oil production and crude palm oil (CPO) inventory remained high in both domestic and international market, thus crude palm oil (CPO) and crude palm kernel

of 0.96 THB. The company and its subsidiaries recorded total EBITDA of THB 3,580 million (+28% YoY, +42% QoQ), performance improved, especially for the Refinery Business, of which average crude run

market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a

effect of the widened Crude premium over Dubai, as well as the lowered oil product spread over crude oil price. There was an Inventory Loss of THB 70 million, and GRM hedging loss. Marketing Business Group