timing of exit from quantitative easing policy by many central banks, such as the European Central Bank’s plan to cut its monthly bond-buying program. These developments may influence movements of

, whereas the European Central Bank and the Bank of Japan may opt for tapering of their quantitative easing stance. Against this backdrop, interest rates in several countries are likely to be on an upward

, the Company’ s consolidated total assets has grown at an average rate of 69.7% per year. The Company has a unique portfolio of hotels in desirable global holiday destinations, as follows (1) Two self

each identified city, rather than placing a fewer number of locations within a higher number of unique cities. This also allows the Company to gain efficiencies effectively in regards to distribution

brand that is unique Thai heritage combined with international standards, the Company has focused more on the hotel management revenue to support the expected drop of hotel revenue from the closure of

city, rather than placing a fewer number of locations within a higher number of unique cities. This also allows the Company to gain efficiencies effectively in regards to distribution, production and

changing the logo to convey an in-trend and unique identity of the Dusit’s education business. In 2018, Dusit Thani College plans for the renovation of Bangkok campus (expected completion in 1Q19) and the

expanded our business offerings from the traditional offline Out-of-Home (“OOH”) media to embrace an integrated offline and online platform. Now, we envision ourselves as a unique market leader in Thailand

have anticipated such changes and begun to expand our services from being solely an OOH advertising platform provider to a unique market leader with exclusive access to behavioral data from our

average rate of 69.7% per year. The Company has a unique portfolio of hotels in desirable global holiday destinations, as follows (1) Two self-manage hotels in Thailand, operate under independent branding