due to the decrease of Operating Revenue of Self- Managed Hotels and Outrigger Hotels from COVID-19 pandemic. Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels

the mutual fund invests will decrease relatively to the remaining period in which the mutual fund is entitled to receive benefits from said revenues. However, the amount of the decrease may vary each

dessert café franchise in Hong Kong. • Revenue from Catering and Pop-Up in Q3/2022 was THB 12 million, slightly decreased by THB 1 million or 8% from Q3/2021 due to the slight decrease in average sales per

growth. However, China operations decreased slightly by 4.8% due to the rapid spread of Covid-19 after the relaxation of China’s zero Covid policy during December which resulted in a decrease in automobile

decreased by Baht 459.0 million, largely attributable to decrease of trade account receivables and inventories. Total liabilities decreased by Baht 1,236.1 million, largely attributable to decrease of trade

/2024, the Company’s credit card revenue was 1,794 million baht, a decrease of 9.8% from the previous year, accounting for 36% of total revenues due to contraction of credit card receivable from the

various industries and is also ready to offer funding to support the Company’s continuous operation in the future. 11 Pursuant to the agreement with its foreign trade creditors, if the Company is in default

support the Company’s continuous operation in the future. The SSG Group has a clear problem-solving guideline, which will help ameliorate the financial status of the Company. Nevertheless, in order to

Company encounters the situation of the lack of financial liquidity and the cash flow for debt repayment and business operation, as the Company has continuous loss. Thus, the Company considers the business

business operation, as the Company has continuous loss. Thus, the Company considers the business restructure of the Company’s group in order to cope with consequences from the current economic recession