Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 4th quarter and year ended December 31th, 2019 2 Management Discussion and Analysis of Business Operation for FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Manag...

Krone appreciating against the US Dollar, and recorded lower impairment. Due to the effects of COVID-19 which was spreading across countries around the world including Thailand. Despite the situation

problem which is harmful to human health. All of these events, which are spreading across the globe, have an adverse impact on individuals and the economy as a whole, in the short and long term, and will