or 17.2% due the drastic decline in Ethylene and Glycerin price from ample supply plus lower crude oil price. 2. In Q3 2019, Selling and Administrative Expenses was 361 MTHB, increased by 42 MTHB or

in Ethylene and Glycerin price from ample supply plus lower crude oil price. 2. In Q1 2020, Selling and Administrative Expenses was 350 MTHB, increased by 30 MTHB or 9% comparing to Q1 2019 which

. Nevertheless, the average selling price of biodiesel has increased significantly in accordance to the price of crude palm oil as the main raw material. Due to heavy rains and flooding in many areas in early Q4

investment. Since the crude oil prices gradually increased in line with the global economic recovery and OPEC continued its descending crude oil production. This affected the Company’s raw material prices

2019 for crude glycerine used as raw material in production of refined glycerine. Besides, part of the loss was also caused by loss on impairment of investment in subsidiary (AIL) of 20.75 million Baht

. The price of crude palm oil in between the 2nd quarter and the 3rd quarter of 2018 were continuously decreased in the range of THB 23.00 – THB 19.00 difference THB 4.00 /KG which is larger in variance

still affected by the oil price volatility in the global market. Despite the crude oil price recovery, the average crack spread between finished product and referenced crude oil price continues to decline

costs around 236.62 million baht or 8.19% comparing to last year. Most raw material prices increased following the rising of crude oil price that increased around 29.77% comparing to last year as well as

and trust in supporting the Company’s business. 3. Management’s Message Management’s Discussion and Analysis (MD&A) for year 2017 4 Overview of World Steel Industry Chart of world crude steel production

World Steel Industry Chart of world crude steel production monthly, ending 31 December 2017 Source: World Steel Association According to the World Steel Association’s report on world crude steel