activity in the first quarter of 2018 continued to expand from the previous quarter, driven mainly by the solid growth momentum of merchandise exports and the tourism sector. Private consumption continued to

conditions of each issuance with the relevant regulations which are in force at the time of issuance of debenture Offering Manner Offer locally and/or internationally to general/public and/or private investors

and incur of impairment loss from investments of the sales of Bangkok Edition hotel. Statement of Financial Position Assets As at 30 September 2018, the Company had total assets of 21,693 million Baht

1. The outbreak of Corona Virus Disease 2019 (COVID-19) Since the end of February 2020, the government and private companies allowed the employees to work at home to prevent the further spread of the

pandemic. The pandemic severely affects both external and domestic demand in tourism, manufacturing, and exporting sectors, as well as softens private consumption indicators. The outbreak also led to

prices as well as the decline in public and private consumption. The tourism industry, especially in the hotel, transportation and restaurant businesses, was hard hit by the impact of COVID-19 outbreak

footprint in Vietnam market  On 21 January 2020, MACO, through VGI MACO (Singapore) Private Limited1 (“VGIMS”), announced to expand its footprint into the Vietnam market – a high growth potential country

through to the domestic economy. The downturn in the goods-producing sector intensified, while agricultural output continued to fall amid a lingering drought. Consequently, annual private consumption growth

tends to contraction more than expected. The decreased domestic and foreign demand resulted in a strong contraction in private investment and it also still contracted in almost all components except

result, Private investment has declined dramatically while the Tourism sector has not yet recovered. The overall economic support comes from the government spending. Both fixed expenses and capital