become inevitable and it is difficult to get out of the vicious cycle of debt. Consumerism, on the other hand, could largely overshadowed consumers? self-restraint and eventually entices them to spend

March 2018) 14 MAY 2018 MANAGEMENT OUTLOOK In the past few years, MACO has continued to drive the inevitable consolidation of the outdoor advertising industry in Thailand in order to build a stronger

generate further savings – all in all with an inevitable lower sales volume, but also lower cost base, we expect the per unit EBITDA generation to remain intact in 2020, and as from 2021 onwards we expect to

social distancing measures. Since the main business of U City is the Hospitality business, the effect of COVID-19 is unavoidable and severely felt. In order to reduce costs and minimise the adverse impact

continues to lessen revenue and profitability. Since the main business of U City is the Hospitality business, the effect of COVID-19 is unavoidable and severely felt. For our Hospitality business, as of 30