of the Company as well as UAPC in order to expand business in the future, it will enable UAPC to raise funds in the capital market and increase the investment value in UAPC by reflecting actual market

from negotiation between the parties, with reference to valuation of share price by discounted cash flow method. 7. Expected benefits 1) Provide opportunities to the Company to expand its solar power

land with a building worth 125 million baht to expand its production area, warehouse and delivery. The building is still in the process of preparing for readiness to use in the next phase. 2.1.4

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...

decreasing of oil price in this quarter had good result to Cost of production. In Q1/2019, Export sector will consistently grow. Meanwhile, domestic consumption will expand although household have risk from

main lime consuming sectors of the industry continue to expand: the sugar cane harvest will be flat compared to last season which was a record year. The steel industry will continue to grow but at a

In order to leverage the market leading position in Thailand and expand to overseas markets, Osotspa will acquire 60% ownership in Osotspa VTA Joint Stock Company to carry out the trading business of

agreement of Baht 20 million; and (4) cash paid to finance costs of Baht 52 million. 6. Forward Looking The Company and its subsidiaries will continue to expand branded business overseas and hasten the

the Group to expand its media offerings on a massive scale. MANAGEMENT DISCUSSION & ANALYSIS 2019 11 Feb 2020 MASTER AD PUBLIC COMPANY LIMITED 2 INTERNATIONAL MARKET – EXPANDING INTERNATIONALLY ACROSS

. Meanwhile, sales of branded product by 3rd party’s manufacture decreased by THB 275 million or 34.1% since these are non-core products but tools to expand the Company’s brand awareness. The new product