inevitably affected the Company’s operating revenue. In addition, the Company had invested in renovating its long overdue hotels to enhance competitive edge in the market. Moreover, the economic slowdown and
............................................................... 9 VIII. INFORMATION ABOUT THE ISSUER ................................................................ 9 IX. OPERATING AND FINANCIAL REVIEW AND PROSPECTS ................................. 11 X
’ operating results for the year ended December 31st 2017 EBITDA Structure of the Company and its subsidiaries Q4/2016 Q3/2017 Q4/2017 YoY QoQ FY2016 FY2017 YoY Total Revenue 40,481 39,009 46,306 14% 19
and operating policy decisions of the enterprise but is less than control over those policies. The shareholder beneficially owning more than 10% interest in the voting shares of the company is presumed
issued shares; (2) a company relating to the intermediary by having control between each other; (3) a company and the intermediary have mutual control by any person. “ control ” means control as determined
issued shares; (2) a company relating to the intermediary by having control between each other; (3) a company and the intermediary have mutual control by any person. “control” means control as determined
2018 % Change Profit (loss) from operating activities before changes in operating assets and liabilities 155 64 92.7% Profit (loss) from changes in operating assets and liabilities 88 7 33.8% Net Cash