from late 2018; particularly, the Gasoline-Dubai crack spread (UNL/DB), Jet (Kerosene)-Dubai crack spread (IK/DB), and the Gasoil-Dubai crack spread (GO/DB), causing the refinery business’s market gross
Energy determined Biodiesel B10 to be distributed at all petrol stations in country since 1 March 2020. This circumstance caused CPO price continuously rose before the season of harvesting fresh fruit
quarter of 2017 from the concrete product business , food products and gasoline business. 3.3 During the second quarter of 2018, the Company received the payment from trade receivables at the amount of Baht
and starting petrol kiosk business. 6 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis the Bt400-600mn lending amount (with 12-36 months installment contract
Agents (MAs), sub-agents, MAs’ employees, and FSMART affiliated companies’ employees. • Expanding distribution business to mom-and-pop shops and starting petrol kiosk business. 6 Forth Smart Service Public
for Boonterm kiosk’s Master Agents (MAs), sub-agents, MAs’ employees, and FSMART affiliated companies’ employees. Expanding distribution business to mom-and-pop shops and starting petrol kiosk
reduced Market GRM, following the decline in refinery production volume due to the TAM, as well as a decrease in average Gasoline/Dubai crack spread and Fuel oil/Dubai crack spread, and the rise in crude
declining, mostly from the gasoline product which is a result of travel limitation policy during the COVID-19 outbreak. The Marketing Business recorded improvements in performance of 797% QoQ and 15% YoY, due
15.74 -1.80 13.73 15.38 -1.65 GO/DB 17.71 11.64 14.32 15.34 -1.02 14.98 -0.67 13.72 14.68 -0.96 FO/DB -5.82 -29.19 -18.59 1.11 -19.70 1.33 -19.92 -4.91 -2.64 -2.28 Crack Spreads Analysis Gasoline and
6.90 11.00 14.32 -3.32 12.75 -1.75 FO/DB 2.36 (16.57) (7.30) (18.59) 11.29 0.54 -7.84 Crack Spreads Analysis Gasoline and Dubai crack spread (UNL95/DB) in Q1/2020 averaged at 6.54 $/BBL, a decline of