prices highly adjusted following the crude oil price and uncertainty of global demand and supply, which finally caused the Company’s overall raw material prices jumped up to 238.74 million baht, and

). All the hotels are located in Germany and Switzerland and are managed under the arcona and Steigenberger brands. 14 June 2019: Acquisition of an Office Building at Noble Ploen Chit. The Company acquired

economic uncertainty caused by the trade war between US and China, the conflicts in the Middle East and the unpredictability of the political situation in Europe. These factors have impacted to Thailand

2018 +/- FY 2019 FY 2018 +/- Owned 3,961 3,961 0 2,541 2,788 (247) 68.4% 66.3% 2.1% 1,738 1,850 (112) Leased 3,251 1,295 1,956 3,194 3,430 (236) 73.6% 74.1% (0.5%) 2,352 2,542 (190) Managed 4,537 4,619

from 2.3% in the second quarter of 2019, mainly driven by expansion of private consumption, government spending and tourism sector. Meanwhile, exports sector continued to contract caused by uncertainty

private consumption and total investment were constantly expanding. However, Thai economy still faces external risk such as U.S. monetary and trade policy and global economic uncertainty. As of August 31

the fact that the Company managed to effectively control finance expense by repayment of short-term borrowings which had high interest costs such as factoring and promissory notes. Baht Million 9M/60 9M

public consumption and private investment were constantly expanding. However, Thai economy still faces other risk such as The U.S.-China trade war, global economic uncertainty and domestic political

slowed down. In addition, Thai economy still faces external risk such as trade war between US and China and global economic uncertainty. As of August 31, 2019, the Company’s total cards reached 8.75

affect from a government adopting a more restrictive lockdown measures in dark-red zones and uncertainty surrounding the COVID-19 situation that will hinge mainly on the rollout of vaccines in order to