Quantitative methods in accounting research A String of Earnings Increases, Future Earnings Uncertainty, and Firm Fundamentals Sarayut Rueangsuwan Kasetsart University SEC Working Papers Forum 19th

flexible packaging products, to repay the loans and used as working capital. Details are shown in Capital Increase Report Form (F 53-4) (Attachment 1). 4. Approved to propose to the EGM to amend Clause 4. of

excellence measures take hold in the acquired businesses. The Packaging segment is expected to benefit from improving geographic mix and higher operating rate. Earnings for 1Q19 and LTM were adversely impacted

synergy benefits and operational excellence measures take hold in the acquired businesses. The Packaging segment is expected to benefit from improving geographic mix and higher operating rate. Earnings for

margins towards PTA and PET are expected to be the main drivers for strong performance of Integrated PET chain. In the Fibers & Packaging segment, we expect higher utilization rates and improved earnings on

136 (67)% New Segments Integrated PET 754 791 (5)% 114 186 171 (34)% Fibers 222 211 5% 43 51 64 (34)% Packaging 71 48 50% 19 17 13 44% Integrated Oxides and Derivatives 75 232 (68)% 31 16 50 (39

6661 Fax: +662 661 6664 Indorama Ventures 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis For the year ended December 31, 2018 Milestone Revenues and Earnings

A String of Earnings Increases, Future Earnings Uncertainty, and Firm Fundamentals* Sarayut Rueangsuwan † Kasetsart University, Thailand August 2015 Abstract Prior literature on meeting or beating

acquisition of Spindletop and startup of Lake Charles cracker did not provide us the typical earnings which we had built in our business case. Our strong balance sheet and the strategic fit of these gas based

earnings translation. US$ 155M lower EBITDA in LTM3Q19 and US$ 22M in 3Q19 due to unplanned shutdowns, catalysts change planned shurdown in EOEG assets in USA and one line conversion from PTA to IPA in USA