Detecting Corporate’s Earnings Manipulation in Thailand Corporate Governance Attributes and Audit Report Timeliness: Mediating Role of Corporate Disclosure and Transparency and Moderating Role of
attributable to the owners of the parent THB 214 million, an earnings per share of THB 0.16, with performance from each business unit as follow: The performance of Refinery and Oil Trading Business Group was
is a forward-looking measure that depends on estimates of future growth. However, past earning may not fully encompass future earnings information. Past earnings risk, hence, is a crude measure of
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
parent THB 620 million (68% QoQ, 140% YoY). Earnings per share was THB 0.38. As for 2019 performance of the company and its subsidiaries, it is still affected by the fluctuations in oil price of the global
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
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
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
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
affected by the year round global oil price fluctuation, especially in the last quarter which oil price plunged drastically. Moreover, the refinery recorded lower crude run due to its 45 days turnaround