-year, mostly due to a decrease in Honda sales. Cost of sales and services slightly increased in accordance with higher sales. Gross profit margin as percentage of sales improved from 7.62% in 2018 to
; Malaysia dealership business reported a 19.1% growth in revenues driven by higher sales of Honda. However, Thailand dealership business reported a 17.5% decline in revenues due to slower sales caused by
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. The oversea subsidiaries are continue growing in the future. However, the company has continued launching promotions with motorcycle manufacturers and suppliers, i.e., Honda and Suzuki. 3 - Others For