recommendations in the Principles will apply but others may be less relevant. We also acknowledge different investment strategies, for example as employed by passive or active funds, and advocate that shareholders

offering in accordance with the relevant Thai laws and regulations. Withdrawal of approval 24. The SEC may at any time review a Hong Kong Covered Fund’s approval and may modify, add to or withdraw any of the

Fund’s authorisation and may modify, add to or withdraw any of the conditions of such authorisation, or withdraw the authorisation, as it considers appropriate. Sale/distribution, offering documents

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 1/2020 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources CONTENTS Executive Summary and Management Guidelines to Mitigate the Effects of the COVID-19 Outbreak 03 Statement of Income 09 Business Performance 11 Statement of Financial Position 24 Cash of Statement 26 Financial Ratios 27 Environment Management Accounting 29 3 Management Discussion and Anal...

, may modify or change the conditions already specified under the first paragraph. Section 28. No digital asset business operator shall appoint or allow any other person who possesses any of the

modify or change the conditions already specified under the first paragraph. Section 28. No digital asset business operator shall appoint or allow any other person who possesses any of the prohibited

. In the case where it is appropriate or necessary, the SEC Office upon approval of the SEC may revise or modify the operating plan; in such regard, the provision in the first paragraph shall be

of the SEC may revise or modify the operating plan; in such regard, the provision in the first paragraph shall be applicable, mutatis mutandis. The operating plan of the SEC Office under the first

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...

management and drought warning • Planting / removing vegetation explicitly to modify water temperatures, evaporation rates, runoff patterns Water Infrastructure Criteria under the Climate Bonds Standard