relatively subdued due to the impact of COVID-19. Nevertheless, the Company continues to transfer the completed projects to customers as planned. Residential projects that are completed and transferred to

arrangement for the Mixed-use project of THB 492 million, and (2) a decrease in net long-term loan of THB 133 million. Dusit Thani PCL Management Discussion and Analysis 2017 P a g e | 5 Shareholders’ Equity As

Sheet but also provides it the necessary resources to pursue its inorganic growth strategy. The net debt to equity ratio has reduced to 0.80 despite acquisitions completed in the first three quarters of

from the defaulted date onwards (April 11, 2017) until the payment is completed. The appeal costs had to be bear, other than the modified decision to be conformed to the Court of First Instance’s

from the defaulted date onwards (April 11, 2017) until the payment is completed. The appeal costs had to be bear, other than the modified decision to be conformed to the Court of First Instance’s

from the defaulted date onwards (April 11, 2017) until the payment is completed. The appeal costs had to be bear, other than the modified decision to be conformed to the Court of First Instance’s

from the defaulted date onwards (April 11, 2017) until the payment is completed. The appeal costs had to be bear, other than the modified decision to be conformed to the Court of First Instance’s

. . . . % Profit Sharing for the Year - The Company’s Equity . . . . % - Non-controlling Interest ( . ) ( . ) . . % Management's Discussion and Analysis and operating results for the Year 2017 Page 3 / 10 3.1

+166% Share of profit (loss) from investments in JV (3) (4) +21% (14) (11) -26% Tax expenses (income) (34) 20 -277% (57) 61 -194% Profit (loss) attributable to equity holders of the parent (124) 78 -260

sentiment with 1.3% growth YoY, driven by C-Vitt (+249.3% YoY). New beverage production capacity completed earlier than planned, which enabled us to serve unmet C-Vitt demand and continue driving category