million, an increase of THB 209 million (after taking impact from foreign currency) from THB 1,112 million as of 31 December 2018. Dusit Thani PLC Management Discussion and Analysis For 1Q19 P a g e | 5

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending March 31, 2019 In the first quarter of 2019, the Thai economy continued to sustain its growth. Overall, however, it was plagued by weak exports and tourism amid the global economic slowdown. Aside from these challenges, businesses had to contend with more complex competition, regulatory changes, and technological advancements which affected consumer behavior. KASIKORNBANK has e...

mostly unrealized and incurred from the appreciation in the Baht currency in the quarter. Finance cost was Bt1,194mn decreasing 7.5% YoY and 1.9% QoQ following lower interest-bearing debt. Average cost of

War trade crisis between USA and China which were heavy retaliate. China’s currency has weakened to lower than 7 Yuan per 1 USD that is the first time in 11 years after USA announce to increasing the

will continue to focus on improving the operational performance of our assets. Of particular focus will be Vienna House where we will continue to monitor currency fluctuations and take appropriate steps

net loss of Bt129mn in 1Q18. The gain was incurred from partially-hedge CAPEX payables following currency fluctuation. Finance cost was Bt1,290mn decreasing 2.6% YoY from lower interest-bearing debt and

rate The Company had recorded loss on exchange rate for 2nd Quarter of 2018 amounted to THB 184 million due to the devalued in THB currency against US Dollar. 5. Performance of the Company and its

focus will be Vienna House where we work on the solution to manage accounting currency fluctuations and take appropriate steps where prudent to mitigate any deleterious effects. …………………………………. (Miss

in 2Q18, following currency fluctuation in the quarter. Finance cost was Bt1,277mn decreasing 4.6% YoY and 1.0% QoQ due to lower deferred interest from spectrum licenses. Average cost of borrowing

rate for 3rd Quarter of 2018 amounted to THB 113 million due to the strength in THB currency against US Dollar. 5. Performance of the Company and its Subsidiaries Management’s Discussion and Analysis (MD