nto the acquis e total numb by the Comp risks on the edia business which shall h of Directors sp a current bu sidered that place during t ue of TV Hom ng TV Home pping generat ping business of Thai

Company. It operates the business of large theater that applies Thai cultures and arts to the state-of- the-art light and sound technology and hi-tech performances. It is located next to Kamala Beach on the

11 FEB 2019 1 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2018 MD&A FY 2018 (ended 31 December 2018) MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS The overall Thai advertising market has been

Results Analysis on Previous Operation According to the economic situation in 2016, the capacity and sales of automobile and motorcycle manufacturing industry which is the main business unit of the Company

effective mall management and operating cost control despite major renovations at CentralWorld and CentralPlaza Rama 3 The Thai economy in 3Q17 continued to expand courtesy of solid growth in export of goods

' equity 5,552 57.6% 5,354 59.3% 3.7% Dusit Thani PCL Management Discussion and Analysis For 3Q17 and 9M17 P a g e | 6 Outlook The last quarter is normally the high season for tourism industry. The tourism

first quarter ended March 31, 2019 with those of 2018. This report discusses principal changes in the reviewed consolidated financial statements. Overall market environment The Thai economy for the first

hotel’s unique contribution to Thailand’s tourism industry. o Residences Designed to provide the ultimate in convenient city living, and managed by Dusit International in line with its unique brand of Thai

company recognized profit of THB 46 million from investments in the Thai Ethoxylate Company Limited (TEX) which produces Fatty Alcohol Ethoxylate (Derivative Product of FA). Lastly, the company had gotten

rate in 2009 following the Hamburger crisis. The Committee assessed that the Thai economy would expand at a lower rate than previously assessed and lower than its potential due to a decline in exports