2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 4 U CITY PCL 2019 PERFORMANCE 2019 P&L SNAPSHOT AND ANALYSIS (THB mn) 2019 20181 % YoY 4Q 2019 3Q 2019 % QoQ Operating

media assets, which generated negative gross profit and are duplicated in the areas. This optimisation will enable MACO to gain greater efficiency on Domestic Advertising performance under management of

Part 4: Financial position and operating results 13. Significant financial information 14. Financial position and operating results of REIT 15. Trustee’s opinions on REIT’s performance Part 5

, therefore, has 9,480 rooms under its management across 14 countries. For the Company’s performance in 2019, the Company reported the net profit including attributable to non-controlling interest of THB 605

, therefore, has 9,480 rooms under its management across 14 countries. For the Company’s performance in 2019, the Company reported the net profit including attributable to non-controlling interest of THB 605

, therefore, has 9,480 rooms under its management across 14 countries. For the Company’s performance in 2019, the Company reported the net profit including attributable to non-controlling interest of THB 605

the Closing Date. In this connection, the Board of Directors’ Meeting deemed it appropriate to propose the Shareholders’ Meeting to consider authorizing the Chief Executive Officer or the person

propose that the shareholders meeting consider and approve the authorisation of the Chief Executive Officer and President, or a person delegated by the Board of Directors, to undertake relevant and

appropriate to propose that the shareholders meeting consider and approve the authorisation of the Chief Executive Officer and President, or a person delegated by the Board of Directors, to undertake relevant

propose that the shareholders meeting consider and approve the authorisation of the Chief Executive Officer and President, or a person delegated by the Board of Directors, to undertake relevant and