cost, higher online travel agency costs, and employee costs to support the expansion of hotel business. 1Q18 EBITDA margin was 25.5%, compared to 23.0% of the previous year. In 1Q18, depreciation and

quarter. However, the Thai economy is expected to grow continually from last year, thanks to the expansion of exports and tourism sectors as well as an increase in government consumption. In addition, the

investment in business expansion, and the cash flows in operating activities in the future to execute the Restaurant Franchise Business Acquisition Transaction, which shall in no way affect the Company’s

the rising order for the Company’s energy drink from overseas market up until now and more product variety requirement, the Company decided to invest in capacity expansion for both bottling and canning

considered the rising order for the Company’s energy drink from overseas market up until now and more product variety requirement, the Company decided to invest in capacity expansion for both bottling and

back expected +4-5% range. We expect the overall burnt and crude product market contraction in 2020 and expansion in 2021 to be in the same range. This being said, we do not expect further major

the previous year due to continue an increase of export and private consumption, as well as an expansion of private investment. In addition, there were supporting factors from domestic demand from the

of employees to support the business expansion, pre-operation expenses as the result from the Group continuing expansion and new project development and expenses related to the bidding of the projects

marketplace fees, which the company has included in the selling price. Rent and service fees associated with the expansion of new branches. Bonus estimation increased from last year. Advertising films for high

resources to achieve the best business benefits, including the proposal of work expansion plan to the leading media business group in the Republic of Vietnam in October 2017. Nevertheless, Blue Finix was not