outsourcing, facilitate more flexibility, reduce operating cost and enhance business in the area outside the business operator?s specialization. Business operator will be allowed to outsource activities

liabilities, Deferred tax adjustment and expenses relating to employee benefits 3 Adjusted EBITDA is calculated from EBT plus Finance cost, Depreciation and Amortization, Interest income from Loan to JVs and

average rate of 69.7% per year. The Company has a unique portfolio of hotels in desirable global holiday destinations, as follows (1) Two self-manage hotels in Thailand, operate under independent branding

company transaction and disposal of sublease 2 Adjusted EBITDA is calculated from EBT plus Finance cost, Depreciation and Amortization, Interest income from Loan to JVs and deduct Interest income

governance, appropriate risk management and effective cost management. At the same time, we have focused on collaboration and synergy with other companies within KASIKORNBANK FINANCIAL CONGLOMERATE, Muang Thai

operators and new comers resulting in continually intense competition in restaurant business. Cost of Sales and Gross Profit Cost of sales in 2017 totaled Baht 899.62 million, dropped Baht 100.62 million or

this period. Cost of hospital operations The cost of hospital operations amounted to Baht 66.70 million and Baht 71.60 million in the three-month period ended March 31, 2017 and the three-month period

revenue from suppliers. Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 Cost of Sales and Services The cost of sales and service increased

revenue from suppliers. Cost of Sales and Services The cost of sales and service increased from THB 1,669.2 Mn in 2016 to THB 1,878.7 Mn in 2017, an increase of THB 209.5 Mn or 12.6%. This increase was

ended December 31, 2018, respectively. The figures represent a year-on-year increase of 29.02% due mainly to an activating new hospital building. Cost of hospital operations The cost of hospital