profitability pressured by high competition and low crude palm oil price. As a result, the company posted net loss of THB 36 million, declining by 154% from 2Q/2018. However, the company had an extraordinary item

demand. As a result of crude palm oil price drop, the company realized Stock Loss & NRV of THB 56 million, a decrease of 74%. However, the company has been improving the inventory management to be more

| 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

was impacted from increase in methyl ester supply in Thailand which pressured to the profitability of methyl ester, Stock Loss & NRV due to dropped in crude palm oil price, and the declining of

quarter still reflects crude price sentiment from Q4/2018, leaving the refinery business with minor inventory loss (included a reversal of lower of cost or market (LCM) of THB 689 million), whereas, during

oil price throughout the quarter, leading to an inventory loss. However, despite the refinery Hydrogen Production Unit and Hydrocracking Unit temporary shut down, refinery’s average crude run remained

the main reason that the Company has a net loss from operation since the selling price of biodiesel has decreased according to the price of crude palm oil in the market, while the price of crude palm

to an inventory gain of THB 856 million. However, there was a loss from crude and product oil price hedging contract at THB 75 million. Furthermore, the refinery planned to manage the stocks of

selling prices dropped by 13% compared to same period last year. The Company reported a net profit of Baht 890 million during the quarter compared to a net loss of Baht 192 million for the same period last

, performance improved from both the Biodiesel Business and the Fuel Ethanol Business. However, the Biodiesel Business was still suffered from inventory loss from the declining of the crude palm oil price. The