accomplishment of cost management policy, 2 | MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR 2020 • Gross margin: UWC has recorded gross margin since Q1-2020 due to accomplishment of cost management policy
until the accomplishment of the full installed capacity as planned of which it is scheduled to be completed by the end of 2024. However, the Joint Venture is under the further negotiation with the joint
by 36.1 percent form Q4-2016 because the project has already been delivered and recognized the accomplishment of the project completed rather than those in Q4-2016, due in 2017 the government has
transmission and telecommunication tower ratio in Q1-2020 decreased by 43.59% QoQ resulting from accomplishment of cost management policy, • Cost to revenue from sale of electricity ratio in Q1-2020 dropped by
transmission and telecommunication tower ratio in Q1-2020 decreased by 43.59% QoQ resulting from accomplishment of cost management policy, Cost to revenue from sale of electricity ratio in Q1-2020 dropped by
∩nl'『 サ跳っ塾inn、unη く電 0■ 9L鸞 電ft尉 1糧 n■ =tミ 鶴L“ぬ̀AngnQ■ ■9 ■■9ぃ」agttι:une (ru nltrt u lqYl'lafi q n1 s) 31-hAar‐ 63 31-ヽlar-62 31-ヽ4ar-63 31^Ma「62 (慕■視踏■鴇) % ,1■ttnlnn3脚■] 47_31 50.24 41_97 45.53 (3.56
supplier. Cost of Goods Sold • Cost to revenue from transmission and telecommunication tower ratio decreased by 37.62% YoY resulting from accomplishment of cost management policy, • Cost to revenue from sale
) 29 upper midscale hotels operated under the Mercure and Holiday Inn brands in the United Kingdom, of which the Company holds 50% in an equal joint venture "UK Portfolio Hotels". (Unit: THB million
, Curio Collection by Hilton and (ii) Hard Rock Hotel Maldives "Project Crossroads Phase 1 Hotels "; and (4) 29 upper midscale hotels operated under the Mercure and Holiday Inn brands in the United Kingdom