initiative is expected to boost Thai businesses’ adaptation and emphasis on the importance of sustainable goals. This will contribute to stronger competitive edge on the global stage and align with

12.93 * = Annualized Dusit Thani PCL Management Discussion and Analysis For 3Q17 and 9M17 P a g e | 7 Currently, the Company is in the first 3 years of strategic plan (2016-2018) which is a crucial stage

a timely and cost-effective way to raise funds. In the past few months, ICO has grown exponentially and has surpassed early-stage venture capital funding for blockchain. Many questions have also

activities at both local and international levels. This goal, if achieved, will give Thailand a solid foundation to compete on the world stage to be one of the important financial centers, which will

จะอา้งอิงตามมาตรฐานการรายงานทางการเงิน ฉบบัท่ี 9 (TFRS 9) โดยการตั้งส ารองตามมาตรฐานบญัชีฉบบัน้ี จะมีการจดัชั้นสินทรัพยท์างการเงินเป็น 3 ขั้น (Stage) ดว้ยกนั โดย 2 ในไตรมาส 1/2563 ธุรกิจวานิชธนกิจมีราย

return continuation in the short term Low risk Liquidity-constrainted investors hold leveraged positions in low-risk assets which they may have to sell in bad times when liquidity constraint become binding

. Likewise, total equity stood at Bt.19,015mn, relatively unchanged from that as at the end of 2017. Capital Structure Net interest-bearing debt to equity stood at 0.61x At the initial stage of Singha Estate

changes: Cash and Bank deposits in Q1-2017 decreased 152.9 MB, or 8.2 percent, because in Q1- 2016 the Company has not received payment from customer which is on the stage of invoicing. Therefore, cash and

compensation after the cessation zinc operation as stipulated by law and new regulations imposed by RFD. In year 2019, it needs to be evaluated as the early stage into the transition of the company to new

as a result of arranging more promotion and marketing events and the increase in proportion of other brand sale to attract the customers. The company takes into account that during the first stage