, 2019. Statement of Cash Flows The company had cash from operating activities of THB 111 million due to the net loss of THB 97 million, offsetting by the adjustment for non-cash items, a decrease of

- (208) -100% Unrealized loss (gain) on exchange rate (667,404) (131,120) 80% Loss (gain) on adjustment in value of securities 4,920 (853) 117% Gain from compromise debt (86,334) - 100% Gain from decreased

conversion (449,701,879) - 100% Loss on adjustment in value of securities 6,137,766 927,299 85% Gain from compromise debt (86,334,435) - 100% Gain from decreased capital of investment in subsidiary - - Gain

, Procurement and Construction EVN Electricity of Vietnam Ft Fuel adjustment FX Foreign exchange IPO Initial public offering IU Industrial user JV Joint venture kWh / GWh Kilo / Gigawatt-hour MEA Metropolitan

operating activities of THB 134 million which comprised of cash from the net loss of THB 105 million, the adjustment for non- cash items, a decline in accounts payable, accounts receivable and inventories

Company is redefining the business plan of ready-to-cook food distribution business under ‘Khong Thai’ brand. Besides aforementioned business operational adjustment, the Company also prudently managed our

Regulatory Commission EPC Engineering, Procurement and Construction EVN Electricity of Vietnam Ft Fuel adjustment FX Foreign exchange IPO Initial public offering IU Industrial user JV Joint venture kWh / GWh

expenses, which are incurred after the Completion Date and are not booked in the financial statement of SBM as at the Completion Date, arising from the adjustment of equipment to support the change of the

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...

Front End Fee Amortization of Baht 240 million as a result of the adjustment of short-term loan repayment plan of Baht 74,000 million in October 2019. Executive Summary Q3/2019 Operating Highlights Baht