smart solutions to improve the efficiency and productivity of their businesses. Nonetheless, economic concerns also persisted in this customer segment, especially in small and medium enterprises, and

lockdown in many countries around the world including Thailand. But the negative impact on domestic consumption, manufacturing and export sectors persisted in this quarter, despite improvement from the

private consumption, especially on the cost of living in the low-to-middle income consumer group. The mobile competition landscape in 3Q22 persisted at the same level as the previous quarter across all

private consumption, especially on the cost of living in the low-to-middle income consumer group. The mobile competition landscape in 3Q22 persisted at the same level as the previous quarter across all

private consumption, especially on the cost of living in the low-to-middle income consumer group. The mobile competition landscape in 3Q22 persisted at the same level as the previous quarter across all

Results The slowdown in Country’s economic conditions has persisted. Nonetheless, the Corporate Group still adheres to its business strategy, namely “Complete Set of Beauty, Entirely Filled with Diamond

. Challenges persisted, including uneven income recovery, restrained spending in mid to low-income segments, high household debt, and global macroeconomic uncertainties. As a consequence, the overall economic

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 4th quarter and year ended December 31th, 2019 2 Management Discussion and Analysis of Business Operation for FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Manag...