& Reserves 54,010 52,094 4% Total equity attributable to shareholders 111,252 102,188 9% Subordinated perpetual debentures 14,874 14,874 0% Total equity attributable to equity holders 126,126 117,062 8% Non

liabilities 6,100 4,109 48% Total liabilities 242,401 227,339 7% Shareholder's equity Share capital 5,615 5,615 0% Share premium 60,331 60,331 (0)% Retained earnings & Reserves 49,540 64,018 (23)% Total equity

5,615 5,615 0% Share premium 60,331 60,331 0% Retained earnings & Reserves 54,307 64,018 (15%) Total equity attributable to shareholders 120,253 129,964 (7%) Subordinated perpetual debentures 14,874

equity Share capital 5,615 5,615 0% Share premium 60,331 60,331 0% Retained earnings & Reserves 45,835 49,540 (7)% Total equity attributable to shareholders 111,781 115,486 (3)% Subordinated perpetual

earnings & Reserves 53,244 49,540 7% Total equity attributable to shareholders 119,190 115,486 3% Subordinated perpetual debentures 14,905 14,226 5% Total equity attributable to equity holders 134,095

, 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