: 367 kta PTA: 433 kta Double digit ROCE 700-800 (till Jun’20: 402) Recycling projects PET recycling 2020-2023 ~600kta ROCE 12-14% 700-800 Indorama Ventures 2nd Quarter 2020 MD&A 7 2020 outlook Under the

, reserve and liquidity. Credit Rating LH Financial Group Public Company Limited is assigned the credit rating at “BBB+” with “Stable” outlook by TRIS Rating. Analysis of Operating Results In the first

lower crude oil prices. • Hygiene fibers improved with better demand and stronger outlook. Lifestyle and Mobility Fibers improved in early part of the year though felt the headwinds in March 2020 from

15% Credit Rating Others 25,169 8.7% 24,307 6.9% Fitch National rating: AA+ (THA), Outlook: Stable Total Equity 69,394 24% 75,689 22% S&P BBB+, Outlook: Stable Source and use of fund FY20 (Bt mn

274,481 78% 274,397 77% Retained earnings 51,382 15% 57,103 16% Credit Rating Others 24,307 6.9% 24,722 6.9% Fitch National rating: AA+ (THA), Outlook: Stable Total Equity 75,689 22% 81,825 23% S&P BBB

by S&P in 2018 while Moody’s has a “positive” outlook on its rating. We see potential for further upgrades in the medium term considering the company’s good operating track record, prudent financial

brighter investment outlook, and ongoing growth in tourism. At the same time, the real estate and construction sectors grew modestly, with expansion seen only in certain areas. Likewise, consumption fared

and China. Thai economy outlook in 2020 is expected to grow under its potential, the Bank of Thailand estimates GDP growth at 1.5% to 2.5% from a slow pace of export, the drought circumstance and corona

sharp contraction in the first quarter of 2020 as economic activity was crippled due to efforts to control the spread of COVID-19. The World Economic Outlook of the International Monetary Fund estimated

Public Company Limited has been assigned the credit rating at “BBB+” with “Stable” outlook by TRIS Rating. Land and Houses Bank Public Company Limited has been assigned the credit rating at “A-” (Single A