., and M. Scholes, (1973). The Pricing of Options and Corporate Liabilities. Journal of Political Economics, 81, 637-659. Boyle, P., and D. Emanuel, (1980). Discretely adjusted option hedges. Journal of
expansion and maintained the company interest spread was 63.57 million baht, a decrease from the sam 30.90%. For the overall performance of 2019 of 208.95 million baht or 12.74 increase of 258.86 million baht
examining journal vouchers. Examination of journal vouchers Example 1 : Testing of journal vouchers did not link the audit procedures with the risk of material misstatement arising from fraud. This was due to
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
sharp contraction in the first quarter of 2020 as economic activity was crippled due to efforts to control the spread of COVID-19. The World Economic Outlook of the International Monetary Fund estimated
spread (DTD/DB), and the improvement of Fuel Oil / Dubai (FO/DB) crack spread. However, due to the crude price drop in this quarter, there was an inventory loss of THB 1,010 million, leading to an EBITDA
reduced Market GRM, following the decline in refinery production volume due to the TAM, as well as a decrease in average Gasoline/Dubai crack spread and Fuel oil/Dubai crack spread, and the rise in crude
a historic high rate of 123.5 KBD during this past September. Meanwhile, Operating GRM declined by 1.69 $/BBL from the previous year, which was affected by the crack spread of finished product and
the operating result for the first quarter of 2020 In first quarter of 2020, the situation of global epidemic of Coronavirus disease 2019 (COVID-19) as well as the spread in Thailand, the government