large area. (Which is under construction and design) to become a tourist center. There will be land and utilities development by allocating the project area into Develop land for sale, construction of
which phase 1 is a condominium ready for sale remaining awaiting transfer of ownership, only 13% of the total amount. Phase 2 is still under development. Forest Patong Project, Phuket is under the
a development project of tourist facilities on Emboodhoo Lagoon in the Republic of Maldives (“Crossroads”), by acquiring interests in a separated head lease, which covers three resorts and an
the COVID-19 epidemic which has resulted in a substantial decrease in the number of tourist arrival in Thailand. As a consequence, the occupancy rate in the first quarter of 2020 decreased compared to
7,539 million Baht, increased by 29% YoY, supported by revenue from the ESSE Asoke which has started the transfer since December 2018 and operating profit contributed from the new acquisition of Outrigger
the drop in Chinese tourist arrivals into Thailand. Revenue from office rental operations which includes retail leasing decreased by Baht 7 million due largely to the decrease in occupancy of Thai Wah
transactions: a) A 56% investment in DAII through an acquisition of DAII’s newly issued shares in January, in exchange for transfer of the Company’s 51% stake in Nirvana Development Co., Ltd. (“Nirvana”) and two
mainly from higher international tourist arrivals, especially from India, Japan, South Korea, the ASEAN region, and recovery in Chinese tourist arrivals as a result of an extension for visa-on-arrival fee
measurements, global lockdown, and international travel restrictions that led to the collapse of tourist arrival numbers. Plus, Thai export and import slumped on the weak demand which dampened domestic economic
confidence; 3.) strong tourism growth mainly from higher international tourist arrivals, especially from the ASEAN region, despite a slight decline in Chinese tourist arrivals during the second half of 2018