% หมายเหต:ุ กองทนุรวมมีการลงทนุกระจกุตวัในหมวดอตุสาหกรรม Real Estate ควำมเสี่ยงจำกกำรลงทุนกระจุกตัวในประเทศใดประเทศหน่ึง (High Country Concentration Risk) การลงทนุกระจกุตวัในประเทศใดประเทศหนึ่งมากกว่า 20

fund manager who performs the duty of making decisions on investment in or disposing of securities or any other asset except real estate, leasehold interest in property or seeking benefits by other

decisions on investment in or disposing of securities or any other asset except real estate, leasehold interest in property or seeking benefits by other methods; “ property fund manager ” means a property

except real estate, leasehold interest in property or seeking benefits by other methods; “property fund manager” means a property fund manager under the Notification of the Office of the Securities and

at the threshold that is not less than the requirement under the Notification of the Capital Market Supervisory Board concerning the Issuance and Offering of Trust Units of Real Estate Investment Trust

decisions on investment in or disposing of securities or any other asset except real estate, leasehold interest in property or seeking benefits by other methods. 3 “property fund manager” means a property

THB 92mn mainly resulted from the lower passengers in Mass Transit system in Indonesia.  Net loss was THB 179mn with a net loss margin of 35.0%. KEY BUSINESS AND STRATEGIC UPDATES Established a

cash loss is small measured against the scale of the crisis. KEY BUSINESS AND STRATEGIC UPDATES THE ADJUSTMENT OF MINIMUM GUARANTEE FOR PLANB o On 30 January 2020, MACO had entered into an Advertising

Microsoft Word - SHR MDA YE19_TH 20200226 vf คาํอธิบายและการวิเคราะห์ของฝ่ายจดัการ บรษิทั เอส โฮเทล แอนด ์รสีอร์ท จํากดั (มหาชน) S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com

Estate 395 349 367 (7.2%) 5.0% Amata City Rayong Industrial Estate 106 121 134 25.9% 10.3% Laemchabang Industrial Estate 172 168 173 0.3% 2.7% WHA Chonburi 1 Industrial Estate 57 52 55 (3.5%) 5.5% Bangkadi