maintained as we started to see improvements on consumption with the shop re- openings since Sep-21 with the lifting of lockdown measures. Our network capex remains between 25-30bn to ensure that we continued
and Malaysia. In Thailand, sales growth was driven by openings of MG showroom in Thailand in December 2021 and opening of Mitsubishi and Ford showroom in April 2022 and August 2022 respectively. Ford
-36% YoY from 2Q22 which had a high base of marketing expenses following the border re-openings after improved Covid-19 situation. It decreased -21% QoQ from cost control measures in advertising and
planned. In 4Q19, the Company expects to open 3 new hotels in the Philippines and China. This will result in the total of 10 hotel openings in 2019. For luxury villa management business under the Elite
openings to 5 hotels in 2020. Following the opening of dusitD2 Salwa Doha in Qater (March), Dusit Beach Resort Guam in USA was opened (June) and Dusit Thani Wellness Resort Suzhou was opened in China (July
-openings. However, towards the middle of the year, the rising inflation and continuous increase in energy costs limited private consumption and signaled a global economic slowdown, raising spending concerns