% decrease Commenting Mr Geza Perlaki, Golden Lime Managing Director said: “While the year 2019 has been very challenging (especially in comparison with the highly successful 2018 as basis) we stayed committed

times. • Inventory turnover ratio was 3.37 times increased from the year 2016, which was equivalent to 3.26 times because the production costs and inventories of particularly raw materials increased

% driven by higher sales of the energy drinks especially for export markets and greater sales growth from distribution of 3rd party’s products. Note: 1/ Energy Drinks, Sport Drinks, and Functional Drinks 2

results on the quality control system, especially the risks associated with the non-compliance with the policies, procedures, standards on auditing, the Code of Ethics for Professional Accountants, and the

inspection, scope of inspection, summary of the inspection results on the quality control system, especially the risks associated with the non-compliance with the policies, procedures, standards on auditing

inbound tourism, especially from Chinese tourists as more direct flights from China to Thailand become available and partially helped by the visa fee discount and waiver incentives during the year. 3

Dusit Thani PLC Management Discussion and Analysis For 2Q20 and 6M20 P a g e | 1 Executive Summary The COVID-19 pandemic has severely hit Thai and global economy, especially the tourism and

by the global manufacturing sector and the ongoing adoption of the Internet of Things (IoT) led to a stronger demand for products in key industrial sectors, particularly in electronics and electrical

3.5% driven by higher sales of the energy drinks especially for export markets and greater sales growth from distribution of 3rd party’s products. Note: 1/ Energy Drinks and Sport Drinks 2/ Drinking

desire to enhance operational efficiency, particularly through essential digital infrastructure and data storage solutions like cloud and data centers that are pivotal for successful digital