capital increase from Initial Public Offering would result in the marked decrease in Debt-to-Equity ratio and financial costs going forward. Management’s Discussion and Analysis S Hotels and Resorts Public
estimated 2020 Depreciation Change Increase (Decrease) Building 92 120 28 Equipment & Machinery 791 340 (451) Total depreciation per year 883 460 (423) In this regard, the auditor of the Company has reviewed
action process to decrease the proportion shareholding in beauty business to reduce the negative impact to the Company. The Company; therefore, has a plan to acquire land and buildings to do the new
administrative (SG&A) expenses Total selling and administrative expenses were THB 727 million, an increase of THB 52 million or 7.6%, representing 17.9% of total sales, a decrease from the ratio of 20.1% in the
control over slow moving stock. However, Gross profit of hotel business had more loss by THB 5.41 million causing from the decrease in hotel revenues as mentioned above. Selling and Administrative expenses
or 49.9% compared from the same period last year. This is the extremely success of Debt Management Business. 3. Rental income and other services was equivalent to 161.10 million baht, the decrease in
this increase partially offset by decrease of account receivable from factoring and decrease in loan to related parties. Total liabilities decreased by Baht 697.07 million while total shareholders
revenue increased by 3.2% year-on-year. Sales and service income increased by 4.4% attributable to 6.7% increase in automotive parts businesses and 1.1% decrease in dealership businesses respectively. It is
ENDED DECEMBER 31, 2017 1. Operating performance as compar ison analysis between those in the year 2017 and 2016 in consolidated financial statement. Description 2017 2016 Increase (Decrease) Amount