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. • High Frequency Algorithmic Trading Technique is typically not a strategy in itself but the use of very sophisticated technology to implement traditional trading strategies. • Order book: a list of
* Proven and probable reserve to be disposed Total group proven and probable reserves 12 *Applies to SGX rule book Chapter 10 section 1006 Source: SGX rule book Chapter 10 section 1006 and SEC circular 20
remains high, and gross refinery margin improved from the increase of crack spread for all products, along with a record of inventory gain from rising average crude oil price during the quarter. Marketing
long term loan plus spread margin and considered as within range of market rate comparing other subordinated loans in Cambodia and exchange rate risk. 4. Total Value and Criteria to Value the Transaction
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
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
effect of the widened Crude premium over Dubai, as well as the lowered oil product spread over crude oil price. There was an Inventory Loss of THB 70 million, and GRM hedging loss. Marketing Business Group
from narrower DTD/DB spread. Within this quarter there was an inventory gain of THB 241 million from the increase in crude price, but there was a loss from the crude and product oil price hedging
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