Securities and Exchange Commission specifies the rules related to securities issuance, offer for sale of securities or undertaking of securities business, but does not specifically define the terms

and Exchange Commission specifies the rules related to securities issuance, offer for sale of securities or undertaking of securities business, but does not specifically define the terms “institutional

the Office of the Securities and Exchange Commission specifies the rules related to securities issuance, offer for sale of securities or undertaking of securities business, but does not specifically

Baht 497.34 million Baht 31.26 million 6.29 1.7 Finance cost Baht 215.23 million Baht 224.38 million Baht (9.15) million (4.08) 2. Operation performance for the year ended December 31 Item 2018 2017

. Overseas restaurant business revenues from the sales and services decreased from the same period of the previous year in the amount of THB 50. 83 million or equivalent to the decrease of 30. 23 percent come

11.54 million Baht 12.09 million 104.77 1.6 Administrative expenses Baht 163.11 million Baht 125.27 million Baht 37.84 million 30.21 1.7 Finance cost Baht 55.50 million Baht 49.92 million Baht 5.58

239.3 -319 -57.1% Finance Cost 71.2 111.9 40.7 57.1% 134.7 210.9 76 56.6% Tax Expenses 59.5 19.4 -40.1 -67.4% 62.4 36.6 -26 -41.3% Net Profit attribute to Equity’s Shareholders. 148.1 44.5 -103.6 -69.9

, 2017 Type of business: Online market place (e-Marketplace) “BeMall” and e-Commerce business Registered and paid-up capital: Baht 100 million (10 million ordinary shares with a par value of Baht 10) - 2

Discussion and Analysis for the performance of the nine months ended of the year 2019 Business Overview In the nine months ended of the year 2019, S Hotels and Resorts Public Company Limited (“the Company

finance lease under power purchase agreement 102.3 103.2 102.9 102.0 (0.9) (0.9) 410.4 417.0 (6.6) (1.6) Revenue from construction under a concession arrangement - 68.5 21.2 14.9 (6.3) (29.7) 104.6 - 104.6