the International Standard on Quality Control (ISQCI), established by the International Federation of Accountants (IFAC); (b) having a certified public accountant, by foreign laws or regulations, and

, finance business, credit foncier business; (b) securities business; (c) derivatives business; (d) insurance business; (e) government financial institution established under specific law; Chapter 1

% 0.06 0.20 -0.14 -70.0% Dusit Thani PLC Management Discussion and Analysis For 3Q19 and 9M19 P a g e | 2 Major Development in 3Q19 In 3Q19, the Group established 3 new subsidiaries in the Republic of

% EPS (THB) 0.09 -0.07 0.16 224.8% 0.06 0.20 -0.14 -70.0% Dusit Thani PLC Management Discussion and Analysis For 3Q19 and 9M19 P a g e | 2 Major Development in 3Q19 In 3Q19, the Group established 3 new

credit card reward points for a discount of up to 10 percent on the purchase of foreign currencies per the established conditions. - International branch network: In adherence to our strategy of becoming

- Min Buri) and the MRT Yellow Line Project (Lat Phrao - Samrong); On June 12, 2017, the Company, BTS, and STEC jointly established companies namely "Northern Bangkok Monorail Company Limited" and

subsidiary which has been completely established on 27 June 2017, as the REIT Manager. In this regard, all matters require the resolution of the CPNRF unitholders’ meeting and the approval from the SEC. The

personnel expenses including additional employment in a newly established subsidiary, gradual improvement of employee benefits as well as higher R&D expenses. All above activities have been prepared for the

December 31, 2017 Page 3 On June 12, 2017, the Company, BTS, and STEC jointly established companies namely Northern Bangkok Monorail Company Limited (“NBM”) and Eastern Bangkok Monorail Company Limited (“EBM

subsidiaries’ hotel assets have aged after a certain period of time, which potentially causing an adverse impact on operational performance and profitability. Consequently, the Company has established a plan to