recovery of the tourism sector and the return of foreign tourists. However, economic expansion remains at risk from the impact of higher cost of living on households and headline inflation tends to rise

from the weakened household income especially in non-farm income together with the tightening of financial institutions credit approvals due to the deteriorations in asset quality. The non-durable goods

the tourism sector, the number of tourist arrivals for the first 2 months of 2019 expanded by 2.5% yoy, however, the number of Chinese tourists which contribute almost 30% of total tourist arrivals

-cycle of electronic products. In the tourism sector, the number of tourist arrivals for the first five months of 2019 increased 1.6% yoy while the number of Chinese tourists which contribute about 29% of

the tourism sector, the number of tourist arrivals for the first half of 2019 increased 1.5% yoy while the number of Chinese tourists which contribute about 29% of total tourist arrivals still exhibited

the COVID-19 outbreak. In the tourism sector, the number of tourist arrivals for 1Q20 contracted by 38.0% yoy across almost all nationalities with high contractions in the number of Chinese tourists

of exports declined by 5.4% mainly from the slow economic growth of trading partners including the shutdown measures imposed by several countries with the COVID-19 outbreak. In the tourism sector, the

of slower-than-expected growth of the Chinese economy, political risks in Europe, and the impact of tightening global financial conditions. In spite of the weaker external sector, lower average oil

financial statement dated December 31, 2019 is being referenced. To measure the transaction value the method used is book value of net tangible asset (NTA) and the value is 70.17% of the total asset. Over the

% Efficiency Ratios Return on Equity (%) 15.44% 15.32% 17.67% Return on Assets (%) 10.87% 10.68% 12.25% Return on fixed assets (%) 82.27% 89.99% 116.94% Asset turnover times 1.14 1.09 1.06 Financial Policy