E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business sector remained challenged by new modes of competition in a broader marketplace amid the advancing digi...

material aspects and that no important information, which should be disclosed, is omitted. 13. Opinion of an independent expert The Company appointed American Appraisal ( Thailand) co. , ltd. , a certified

additional evidentiary documentation; (2) Arranging for an independent expert to give an opinion relating to the correctness, completeness or reliability of the information in the registration statement and

, 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

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

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

expanded our business offerings from the traditional offline Out-of-Home (“OOH”) media to embrace an integrated offline and online platform. Now, we envision ourselves as a unique market leader in Thailand

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-manage hotels in Thailand, operate under independent branding

’ 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-manage hotels

pastry is also expected to meet the needs of customers who love trying new and unique products. Emphasize on Increasing the Number of Pop-up Stores in Bangkok and Other Provinces The Company has been