and cost reduction, the overall performance still inferior to the Group own development biomass power plant. This was led to the decrease of gross profit margin of biomass power plant. 6 Administrative

, the overall performance still inferior to the Group own development biomass power plant. Moreover, 6 sales from FiT Premium decreased as stated above. This was led to the decrease in overall gross

COMPANY LIMITED COUNTRY GROUP DEVELOPMENT PUBLIC COMPANY LIMITED COUNTRY GROUP HOLDINGS PUBLIC COMPANY LIMITED CP ALL PUBLIC COMPANY LIMITED CP AXTRA PUBLIC COMPANY LIMITED CPN RETAIL GROWTH LEASEHOLD REIT

business, the total SG&A costs were 1,221.6 Million Baht, an increase of 49% versus prior year. The increase is attributed to development costs of Consumer Brands Group product division which included

the sales of products. Therefore, the Corporate Group has established policy on market expansion and domestic channel development to achieve the most efficiency, as well as production cost management

advisory fee related to the development of Mixed-use project and group restructuring, (2) higher personnel expenses to support the expansion of the hotel and education businesses as well as new related

29 percent of shares of NYKT (“NYKT Shares”) from Artlion Development Limited (“ArtLion”) which is a subsidiary of and under the control of NYK Group. The purchase of NYKT Shares is regarded as a

funding sources for the group companies in the development of Carnival Magic Project, both Phuket Fantasea and Carnival Magic prioritize on the suitability of each company’s financial structure, which the

shareholders in the future. 4) Cash flow from group companies’ operation and possible capital increase in the future Regarding the funding sources for the group companies in the development of Carnival Magic

% 0.06 0.20 -0.14 -70.0% Dusit Thani PLC Management Discussion and Analysis For 3Q19 and 9M19 P a g e | 2 Major Development in 3Q19 In 3Q19, the Group established 3 new subsidiaries in the Republic of