. The transaction size is equivalent to 98.67 percent of the net tangible assets (NTA) of the Company as appeared in the reviewed consolidated financial statement of the Company ending June 30, 2019, and

98.67 percent of the net tangible assets (NTA) of the Company as appeared in the reviewed consolidated financial statement of the Company ending June 30, 2019, and after computing of the foregoing with

depressions in farm income and high level of household debt while inflation remains at a low level. Other key risks that need to be monitored are the slowdown in global economy especially the Chinese economy

same period last year as a result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down

result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down-cycle of electronic products. In

global economy. For domestic sector, private consumption and private investment also showed positive signs with private consumption recovering strongly in the durable goods segment (especially in vehicles

global economy 2.) tourism sector growth with an exceptional 12% YoY increase in tourist arrivals for the first six months of the year, especially Chinese, Russian and Indian tourists 3.) recovering

market environment Growth continued for the Thai economy during the second quarter of 2018 with further expansion in the external sectors namely exports and tourism in line with the expansion of the global

level of household debt while inflation remains at a low level. Other key risks that need to be monitored are the slowdown in global economy especially the Chinese economy, lower than expected growth in

ASAI Chinatown of Baht 191 million and cash out for an additional investment in DREIT of Baht 535 million. Dusit Thani PLC Management Discussion and Analysis For 3Q19 and 9M19 P a g e | 7 Statement of