protection and has strong intention to decrease negative impacts and increase positive impacts along with EGCO business processes. Our target is to enhance EGCO’s environmental management and coexistence in

in accordance with the rules as prescribed in Clause 18(2); (8) having appropriate and sufficient system for proprietary trading which would be able to prevent the following occurrences: (a) negative

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the first quarter ended March 31st, 2019 Management Discussion and Analysis of Business Operation for Q1/2019 Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 20 22 24 26 Executive Statement Summary of Income Business Performance 08 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Envi...

negative. Moreover, in Q1/2018, Marketing Business incurred in a higher selling, general and administrative expenses when compared to the same period of the previous year, from accrued expense related to

expansion of their Non-oil businesses, however the cost of selling, general and administrative expense remains high, leaving the Bangchak Retail Co., Ltd.’s EBITDA still in the negative, therefore effectively

in the Non-oil business by 36% YoY, however it still incurs in high selling, general & administrative expenses, thus causing Bangchak Retail Co., Ltd. to still record a negative EBITDA. Q3/2018

changes of interest rate and situations of financial market, in order to reduce possible negative impacts. (5) Risk from animal asset Nature of business of the Company is the recreation and relaxing

investment of KB in the Subsidiary, the Subsidiary will require to conduct and consummate a capital reduction by reducing number of shares, in order to eliminate all impact arising from negative retained

case of negative equity, specify only the cases worth more than 10 percent of the current assets as of the end of the latest financial year, (2) any lawsuit that affects the business undertaking of the

statement. If there is no such change, provide an appropriate negative statement. 16 XIV. ADDITIONAL INFORMATION A. Memorandum and Articles of Association Indicate where the information about the issuer’s