. - Revenues from hotel operations in Q1/2019 amounted 88.15 million baht increased by 9.18 million baht or 11.62% from 78.97 million baht in Q1/2018 due to the opening of new hotel, MAVEN Stylish Hotel Bangkok

. - Revenues from hotel operations in Q2/2019 amounted 71.35 million baht increased by 8.98 million baht or 14.40% from 62.37 million baht in Q2/2018 due to the opening of new hotel, MAVEN Stylish Hotel Bangkok

baht in 2018 due to the opening of new hotel, MAVEN Stylish Hotel Bangkok. - Management fee income in 2019 amounted 87.93 million baht increased by 28.42 million baht or 47.76% from 59.51 million baht in

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...