the uncertainty of world economy reveals an impact on decreasing number of tourists (Source: Tourism Authority of Thailand). 3 ASIA’S BOUTIQUE AIRLINE For the second quarter of year 2019, the Company

uncertainty and the escalation of US-China trade war pressured investment sentiment across the globe. Second half of this quarter, the resulting from the baht appreciation and the MSCI rebalancing for higher

uncertainty or new regulations. In terms of capital, with the inclusion of net profit for the six months ending June 30, 2018, the total capital adequacy ratio, the Common Equity Tier 1 capital adequacy ratio

contract margin is expected and shall offset normalizing spot PET margins achieved in 2018.  IVL strong 3Q and YTD 2018 delivery, especially when considering global economic uncertainty, gives us confidence

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the year ended December 31st, 2018 Management Discussion and Analysis of Business Operation for FY2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Important Events 08 Statement of Income 10 Business Performance 10 Refinery & Trading Business Group 15 Marketing Business Group 17 Power Plant Business Group 19 Bio-Ba...

reporting ► Comparative information ► Statement of compliance 6 Judgements, uncertainties and errors ► Judgements ► Measurement uncertainty ► Errors These requirements in IFRS S1 are necessary for any

natural hedge against short-term volatility in product margins.  Core EBITDA margin has enhanced from 6.4% in 2013 to 11.4% in 2Q17 and this is targeted to fur- ther improve from the various strategic

. The trend of Thai Baht value has directed to the volatility and weakened when compared with US Dollar after the US central bank announced the policy of raising interest rate in December. However, the

competence. This same strategy has continued to play a vital role in its ability to deliver industry- leading performance and providing a natural hedge against short-term volatility in product margins.  Core

material in advance for the Food Business so as to reduce the risk of volatility in the price of food raw materials during the year, together with continued effective management of its borrowings. The Hotels