, resulting in an increase in the unemployment rate. The impact of COVID-19 was felt globally, and the state of emergency was declared in Thailand, resulting in disrupted economic activities whereby certain
According to the Bank of Thailand and Office of the National Economic and Social Development Board data, the Thai economy in the second quarter of 2019 expanded at a slower pace by 2.3%, decreased from 2.8
and Economic Teak Plantation and not receiving money from a large receivable who is in the process of paying. Trade and other receivables increased by 584.7 million baht or an increase of 30.9%. This is
should continue to be accommodative so that the economic growth could continue and translate into the strengthening of domestic demand. Notwithstanding this, there are pockets of risks, such as debt
has been greater clarity on the direction of public investment in infrastructure projects, including those in the Eastern Economic Corridor (EEC). These factors have helped underpinning private sector
recession due to the COVID-19 pandemic. Economic activity was crippled almost across the board in light of lockdown measures implemented in several countries to contain the viral transmission. Financial
traction from the first quarter. The ongoing economic rebound was mainly driven by exports and tourism, whereas domestic spending and investment only gradually picked up. Still, the economy has yet to see
inevitably affected the Company’s operating revenue. In addition, the Company had invested in renovating its long overdue hotels to enhance competitive edge in the market. Moreover, the economic slowdown and
led to widespread slowdown in economic activities. Private consumption slowed down in almost all categories especially in services segment: hotels, restaurants and transportations from the various
memorable. 3.2 Business trends of the Company Thailand’s economic has a clear recovery signal in 2017 and was expected to grow continuously in 2018. Reflecting to Thai’s Gross Domestic Product (GDP) where the