Analysis For 4Q19 and FY2019 P a g e | 2 Despite the lower hotel revenue from the closure of Dusit Thani Hotel Bangkok at the beginning of the year with carrying hotel staff cost, the Company reported the
Hero Experience for construction cost and investment in future project. For the acquisition of shares from Travel Channel Agency Co., Ltd., the price of shares is agreed between the Company and Travel
capital 170,000 61% 170,000 67% 340,000 139% Retained earnings (Deficit) - 0% - 0% - 0% - Legal reserves - 0% - 0% - 0% - Unappropriated (Deficit) (78,869) -28% (108,690) -43% (133,577) -55% Total equity
tender offer of shares, it shall be deemed that the Company has acquired shares of GLOW by means of the takeover via other juristic persons. The Company is thus required to calculate the cost of the
other juristic persons. The Company is thus required to calculate the cost of the acquisition of the shares of GLOW (the “Acquired Cost”) and is required to make a tender offer for the shares of GLOW at
/1 1,408.0 1,586.1 178.1 12.6% Share of Profit from Investments in Associates and JVs 220.5 563.4 342.9 155.6% Total Cost 621.7 691.7 70.0 11.3% Gross Profit 686.7 558.2 (128.5) (18.7%) Net Profit 42.6