significantly increased both sales revenue and volume of hot rolled coil (HRC) in which sales revenue rose from Baht 15,178 million from 2017 to Baht 29,910 million in 2018, also the HRC volume surged from

also benefit from 4 recently renovated hotels to drive RevPAR and ADR upwards and on-going organizational restructuring that is expected to yield tangible long-term cost savings. In our office business

mainly due to reduction in input costs and improvement in Operational parameters through several Strategic Management Initiatives. The Current quarter EBITDA also includes one off expense on account of

discontinuation of management contracts. The occupancy rate also increased by 1.2% to 73.8%. Overall ADR slightly decreased to MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 14 AUGUST 2019 U CITY PCL 2Q 2019 - MD&A (for

business but Travelling business also have trend to growing less than expected and moreover Thai foreign exchange rate of the Baht was appreciate that cause Financial Institutions Policy Committee announce

overseas sales not only will diversify country portfolio but also raise brand awareness of the Carabao energy drink both in Asia and outside Asia aligning with the Group’s vision of “World Class Product

, raw materials, were also increased in the same trend of HRC price, nevertheless, the Company was able to maintain growth in metal spread in this quarter rose to THB 8,093 per ton, increasing from the

made to disclose information and the vision of the management in order to assist investors to better understand the company's financial status and operation. It also supports the "Good Corporate

associates and joint ventures increased by 62.3%, according to the number of days in operation of GHECO-One compared to the previous year that had a planned maintenance. Moreover, there have also been a

Manila Hotel also reported a slight increase in revenue (Peso Currency) yoy. • Hotel Management In 2Q18, the revenue from Hotel Management was THB 53 million, up 23.3% yoy, driven by the increase in