) Net cash received from Operating Activities totaling Baht 900.05 million Baht from the net income netting off with the changes in assets and liabilities from operations Interest Bearing Debt total
million or decreased by 4.9 percent, when comparing to corporate tax expenses by 14.83 million in the same period of previous year. This was mainly due to lower earnings from operations. 1.9 Profit Sharing
restaurant franchise business operations to the Buyer, or had the relevant parties sign new agreements in order for the Buyer to become a party to such agreements in place of the Seller. 3.2 Calculation of the
million Baht from the net income netting off with the changes in assets and liabilities from operations 2) Net cash used in Investment Activities amounted to 498.66 million Baht. This was mainly due to the
Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 2 of 8 Discussion of results of operations Consolidated financial statements 9 Months 2018 9 Months 2019 % Change
“Company” or “we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the nine months period ended Sep 30
beneficial to the Company’s operations. Furthermore, such location is convenient for transportation, which is situated nearby the Company’s business premises. The rent rate of Baht 60 per square meter per
& DeLuca business by the end of 2019 as it is undergoing a “rightsize” strategy through cost control and merging of chain operations to minimise losses from unprofitable branches Selling and administrative
industry. In particular, this is also highly relevant to our aim to expand the market for enterprise business in Thailand where digitalization such as automation and smart operations brings businesses the
subsidiaries (Hereinafter called “The Group”) would like to submit Management’s discussion and analysis for the year 2019 with the summary as follows: - 1. Nature of operations of the Group The Group has