, consisting of: Selling expenses were Baht 199.84 million, which increased from the same period of previous year by Baht 7.14 million or 3.71 percent, due to the increase in service expenses of Baht 2.46

Baht 132.63 million, which increased from the previous year by Baht 4.79 million or 3.75 percent, due to the increase in salary and benefits of the employees of Baht 8.82 million and service expenses of

- ร่าง - 1 Nov 7, 2017 Subject Management Discussion and Analysis for the period of three months and the period of 1st half ended 30th September 2017 To President of the Stock Exchange of Thailand

Thani Laguna Phuket, Dusit Thani Pattaya and Dusit Thani Manila as well as lower F&B revenue particularly the catering service of Dusit Thani Bangkok. EBITDA dropped by 24.5% yoy to THB 529 million due to

service of Baht 793.67 million compared with Baht 839.34 million in the same period of the previous year, which decreased by 5.4 percent. The decrease in sales was due to the decrease in overall sales

million or 4.71 percent, due to the increase in service expenses of Baht 0.82 million and salary and benefits of the employees of Baht 0.59 million. Administrative expenses were Baht 117.06 million, which

subsidiary was temporary shutdown in Q1/2019. The company shutdown from February to April after GJ Steel terminate service tolling agreement on 31 January 19 because the company waiting for sign new loan

automotive exhausted pipes to automotive industry. 2 1.1 Revenue For the period of three months ended 30th June 2019, the Company and its subsidiaries had revenue from sales and service of Baht 719.81 million

Average Payable Period (Days) 22 17 Cash Cycle (Days) 38 48 Total Debt to Equity Ratio (Times) 0.49 0.51 Interest Coverage Ratio (Times) 114.45 73.26 Debt Service Coverage Ratio (Times) 14.12 6.55 (3) Asset

- ร่าง - 1 Nov 9, 2018 Subject Management Discussion and Analysis for the period of three months and the period of 1st half ended 30th September 2018 To President of the Stock Exchange of Thailand