KRUNG THAI ASSET MANAGEMENT PUBLIC COMPANY LIMITED|Brown Field Infrastructure Fund | Offering Date : 22/06/2015 - 26/06/2015

oil price, which is a substitute raw material compared to growing of crude palm oil price. In contrast, market P2F of natural fatty alcohols in FY2019 was at 507 USD/ton, improved by 8% from FY2018

Limited Global Green Chemicals Public Company Limited Management Discussion and Analysis | 2 Executive Summary In 1Q2019, palm oil production and crude palm oil (CPO) inventory have remained high in both

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

. 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

market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a

Oil price; Crude Palm Oil stock remains high. Management Discussion and Analysis of Business Operation for 1Q/2018 Bangchak Corporation Plc. I 16 3. Gross profit adjusted upward from raw material cost

parallel with crude palm oil price. Gross profit from biodiesel business was higher from the growth in sales volume, as well as the capability to procure raw material and manage inventory better than last

will help to reduce the purchase of Crude Oil from other country and also support stability of the power business of Thailand which the crude palm oil (CPOA) is the major raw material for biodiesel