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...

supports the operation of the PTT Group Note: The diagram shows the power generation capacity growth after the acquisition of GLOW GPSC ELECTRICITY GROWTH PIPELINE Grow along with PTT • Business expansion

image and attract more investors. Additionally, the Company conducted a feasibility study regarding CPOA trading for biodiesel and edible oil. The study shows that the key success factors are sufficient

attract more investors. Additionally, the Company conducted a feasibility study regarding CPOA trading for biodiesel and edible oil. The study shows that the key success factors are sufficient working

documentary, foreign movie series, sports and variety shows. However, the company has no expertise in the management of such content types. As such, Spring26 lost over years since it won the bid for spectrum

: Base on 100% in GLOW Q2/2019 Outlook and Business Directions Executive Summary Note: The diagram shows the power generation capacity growth after merging with GLOW • After the acquisition of GLOW, the

Directions Executive Summary Note: The diagram shows the power generation capacity growth after merging with GLOW • After the acquisition of GLOW, the company has assessed the initial synergy between GPSC and

guidance to improve the quality in each element. In the 3 inspection cycle, the evaluation result in this element shows improvement compared to the earlier cycle. The firm leaders maintain decent attitude

social and community development in material issues for business operational process. In addition, the action plan that shows the Company’s capability of managing social sustainability issues in the

operational process. In addition, the action plan that shows the Company’s capability of managing social sustainability issues in the efficient business operational process should be disclosed as well. The