level of household debt and conservative spending are continue to hinder domestic consumption by limiting consumption with only necessary items, decreasing in spending frequency and low- price. The

competitiveness to sustainably accelerate growth in the region. The Company has completed its investment in the must-have projects which are necessary for driving sales. For the nice-to-have projects which will

is useful for or hinder to the operation of the SEC Office; (5) historical record of improper demeanor in the past of the REIT manager. In considering the facts according to the first paragraph, the

depress agricultural and even industrial production during the first half of this year (4) the subsequent effects of the aforementioned factors on employment and household income, which would hinder private

should be clearly seen next year. In addition, the Company has completed its investment in the must-have projects which are necessary for driving sales. For the nice-to-have projects which will help

include the flood conditions which hinder agricultural production and cause damages in household assets in the affected areas. Political development, especially preparation for an election according to the

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the year ended December 31st, 2018 Management Discussion and Analysis of Business Operation for FY2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Important Events 08 Statement of Income 10 Business Performance 10 Refinery & Trading Business Group 15 Marketing Business Group 17 Power Plant Business Group 19 Bio-Ba...

postponement must not hinder the core business, and has to follow the principles of law and must give utmost regard to safety. As such, the company group was able to decrease OPEX spending by approximately 20

. Notwithstanding, the market volume of Thai vitamin C drink appeared to enjoy a pleasant growth rate Revenue from sales by product group Unit: THB million 2019 % 2020 % Amount Percent Branded products by our own

channel to communicate with the customers promptly as well as to increase pleasant level and top impression for keep maintain the existing customer base together with the increase of new customers. ▪ Risks