Thailand from July- November 2018 declined at 12.0 percent, but the situation started to improve in December. As a result, the 3 ASIA’S BOUTIQUE AIRLINE overall Chinese arrival to Thailand increased at 2.8

situation began to improve in July, the overall Chinese arrivals still expanded slower than the previous year. (Source: Ministry of Tourism and Sports). For year 2019, the number of passenger decreased by 1.6

that this transaction is appropriate in light of price and conditions since the value of consideration of KMM is higher than the assessed price. Also, the Company will be recognized the profit in

5.0 percent in which the Russian tourists had the highest growth at 24.9 percent, following by the tourists from East Europe and Spain with 18.3 and 4.8 percentage growth respectively. For the situation

percent, compared to the same period last year. This is because a recovery of zero-dollar tours situation in previous year. Overall, a number of Chinese visitors grew by 12 percent for the whole of 2017

economic uncertainty caused by the trade war between US and China, the conflicts in the Middle East and the unpredictability of the political situation in Europe. These factors have impacted to Thailand

situation at the time of the issuance and offering of debentures and other relevant factors. This is subject to the notification of the Securities and Exchange Commission. And / or the Office of the

many areas that resulted in the destruction of crops and household assets. Towards the end of this year, domestic political situation will also warrant monitoring as the National Council for Peace and

from the US foreign trade policies and retaliatory measures by major advanced economies as well as volatility in the global financial markets. In the meantime, the domestic political situation warrants

markets went into a tailspin, whereas turbulence was seen in manufacturing, service and tourism sectors, which in turn dampened domestic spending sentiment. The situation adversely affected the government’s