-Translated Version- No. ECF2 026/2019 May 15, 2019 Subject: Management Discussion and Analysis of the 1st quarter ended 31 March, 2019 To President The Stock Exchange of Thailand East Coast
TRANSLATED VERSION codified up to No.3 as of June 16, 2014 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference
”) reported total revenue of THB 1,121 million, contributed by an increase in revenue from Hotel Business, primarily from owned hotels overseas, despite an adverse impact from an exchange on translated
have, or are, developing Stewardship Codes or the equivalent. ‘Stewardship’ is not a term used in this document because it is less well understood in some parts of the world; nonetheless, the discussion
of foreign participants in the rules and regulations promulgated under the Securities and Exchange Act B.E. 2535 and shall not in any event be construed or interpreted as having effect in substitution
regulations and shall not in any event be construed or interpreted as having effect in substitution for or supplementary to the Thai version thereof. Please note that the translation has not been subjected to
Singapore study, it cannot be interpreted as Thailand financial reporting quality (measured at the original version of financial statements provided to auditors) is higher than that of Singapore companies
-affirmed to AA- by TRIS Industry spreads weak Management focus on cost and cash flow improvement Exceptional items adversely impacted core EBITDA Strong Thai Baht adversely impacted translated earnings 2 3Q
Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for ref TRANSLATED VERSION As of May 10, 2011 5 Readers should be aware that
Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for ref TRANSLATED VERSION As of May 10, 2011 Readers should be aware that only