growth is consistent with the economic slow down and credit tightening of financial institutions after signs of deterioration in loans. In the equity market, the average daily turnover (SET and mai) for

consistent with the economic slowdown and credit tightening of financial institutions after signs of deterioration in loans. In the equity market, the average daily turnover (SET and mai) for 3Q19 increased by

overall financial conditions remained accommodative to economic expansion, with high liquidity in the financial system and low government bond yields and effective interest rates. Although the movement of

) and financial reporting standard no. 9 (TFRS9: Financial Instruments) which impact the following areas: 1) Realized interest income from loans based on the effective interest rate method (EIR) and

year on year to THB 83mn (THB 51mn in the previous year). Hence, our effective tax rate at consolidated level this quarter stood at 27% - higher than usual corporate tax rate of 20%. Bolstered by the

share of losses in 2016, mainly driven by a significant decline in loss from Dusit Fudu Hotel Management in China due to an effective cost control. Dusit Thani PCL Management Discussion and Analysis 2017

Liabilities 19,179 20,532 Total Equity (433) 172 Minority 10,937 9,928 Gr ou p HR C Gr ou p บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 2 Ending 30

high profit margin and also from effective marketing policy. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2018 Year 2017 Increase

Reporting Standard No. 15 (Revised) : Revenue from Contracts with Customers, effective 1 January 2019 has impacted on the Company and its subsidiaries’ financial statement as follows : o Brand : Adjusting

with Diamond Brand”, as well as effective cost management having maintained good gross profit margin and increased net profit in 2020. (2) Analysis of Operating Results and Profitability (2.1) Revenues