pressure on crude palm kernel oil price. Natural fatty alcohols demand in 1Q2019 improved from 1Q2018 and 4Q2018 due to more attractive natural fatty alcohols price than synthetic fatty alcohols price as
because its price was more attractive than synthetic fatty alcohols price due to the decreasing of crude palm kernel oil price. Meanwhile, supply from natural fatty alcohols and synthetic fatty alcohols
Analysis | 2 Executive Summary In 2018, palm oil production and crude palm oil (CPO) inventory have remained high in both domestic and international market, which resulted in the decreasing price of crude
Ratios 19 P a g e | 3 - Management Discussion and Analysis 2Q2020 - Executive Summary In 2Q2020, crude palm oil (CPO) price was higher than 2Q2019 caused by the implementation of biodiesel B10 as the
warrants exercise LTM 3Q18 Operating Cash Flow of $1,037 million Net Operating D/E ratio 0.53x; Rating Upgrade to AA- with “Stable Outlook” 2019 Guidance reaffirmed; attractive and accretive production
| 2 Executive Summary In 2019, overall palm oil production and crude palm oil ( CPO) inventory remained high in both domestic and international market, although the inventory plunged to a minimum record
and its subsidiaries recorded total EBITDA of THB 2,514 million (-38% YoY, -38% QoQ), the performance softened, especially for Refinery Business, which was affected by the continuously lowering crude
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
. Total GRM increased by 5% YoY and 17% QoQ from the improved Market GRM that rose due to significant increase of production after the turnaround maintenance (TAM) , combined with crude cost that benefited
). Total Gross Refinery Margin (Total GRM) rose 67% YoY and 26% QoQ, while Market GRM lowered from the decreasing production volume. Moreover, the average crude price adjusted upward in the quarter, leading