first half of 2019, and later in the second half of the year, 2-4 additional branches in Thailand and 1 franchisee branch in Hong Kong are expected to be opened. More Pop-Up Stores have been launched to

pay the deposit 20 Million Baht later after getting the approval from the Committee. In the first phase, the Company will operate the hospital with 5 Rai of land usage, 3-storey building and supporting

Province Court, and the company was called as a co-defendant. Later, on 27 May 2019, entered into a compromise agreement, which the court has ordered according to the aforementioned compromise agreement, as

of debt in later on its outstanding debts had successfully converted debt-to-equity in 3rd Quarter of 2017. Statement of financial positions  Total assets As of 31 March 2018, the Company has total

all the animals in Jungle World’s land into the Company’s nearby land. Later on, the Company’s Board of Directors’ meeting no 6/2018 date May 25, 2018 has approved to extend the land lease of Jungle

company was sued as black case no. Por 1430/2561 to Samut Sakhon Province Court, and the company was called as a co-defendant. Later, on 27 May 2019, entered into a compromise agreement, which the court has

mortgage of land and buildings of the Subsidiary Company which has mortgaged as collateral for the payment of Company's debentures, and the Company was called as a co-defendant. Later, on 27 May 2019

(which was later renamed to VHE Wroclaw Hotel S.p.z.o.o.). MANAGEMENT DISCUSSION & ANALYSIS 2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 2 U CITY PCL 24 May 2019 VHE

increased equivalent to 21.50 percent causing by the addition of outstanding debenture issuing and offering in February 2018 at the amount of Baht 699.90 million later in March and July of the year 2019 at

(“BSH 15”), later has changed its registered name to Prime Area 12 Company Limited (“PA12”), from Sansiri for an aggregate amount of THB 1mn. As a result, the Company holds a 100% interest in BSH15 • The