will lead to multiple dimension impact which is inevitable to participants in capital market businesses. All stakeholders in capital market must join forces to raise awareness among Thai business

constant volatility and instability in various ways due in part to the global pandemic of COVID-19 and the fast-paced changes in technology. Thus, it is inevitable for auditors to adjust their methodology to

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

investment in last year. The Company maintained healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.56 times. 2019 Outlook Company maintains 2019 outlook

backlog was THB 16,745mn, decreasing by 6.9% as compared to the end of 2018 of THB 17,981mn. Although the JVs had sturdy sales in The Line Wongsawang, The Line Ratchathewi and The Line Phahonyothin Park

healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.10 times. 2018 Outlook Maintain 2018 forecast, yet adjust down new hotels opening • Despite Boat

liquidity ratio was 1.35 times. The Company maintained healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.09 times. 2019 Outlook 2018 was the final

and small business loan. Although, the non-performing loans affected profitability, but the Thai commercial banking system still remained sturdy. Credit Rating Land and Houses Bank Public Company