the EBT of UE, which was funded by a capital increase via issuance of preferred shares in the first quarter  Net debt to equity ratio as of 30 September 2018 stood at 0.53x, an improvement from 0.93x

Patara Fine Thai Cuisine Limited (PFTC). S & P Development Holding Co., Ltd. (a -2- subsidiary which its 100 percent shares held by the Company) and MFG International Co., Ltd. (subsidiary of Minor

International Co., Ltd. (subsidiary of Minor International Public Company Limited) hold the shares in PFTC at ratio of 50:50 In consideration of the EBITDA profits from the performance in 2017 compare to in 2016

continued with marketing campaigns as well as promotional activities at distribution channels that helped sustain our leadership position in the RTD Tea market in Thailand. For international market, revenue

Budget Act and drought. Furthermore, domestic spending may be limited due to weakening purchasing power and hefty household debt. Apart from economic woes, businesses face numerous other challenges that

of international tourists. Private investment is prone to recover in the second half of 2017 especially in automobile equipment, consistent with significant growth of passenger car sales in Q3

mostly unrealized and incurred from the appreciation in the Baht currency in the quarter. Finance cost was Bt1,194mn decreasing 7.5% YoY and 1.9% QoQ following lower interest-bearing debt. Average cost of

campaigns on free data and minute as well as decline in traveler segment from international travel restriction. However, postpaid revenue was able to withstand the pandemic with +5.8%YoY, +2.5%QoQ increase

from ‘International Advertising’  Expanded our footprint to Vietnam market – the fastest growing economy in Southeast Asia  Net profit excluding minority interest was THB 161mn KEY BUSINESS AND

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