impaired assets by Thai Asset Management Corporation (TAMC). Dividend income declined by Baht 300 million and net fees and service income declined by Baht 234 million due to a decrease in fee income from

นวนห้องพกัผา่นรูปแบบการรับจ้างบริหาร (Asset light) โดยในปี 2562 บริษัทมีแผนที่จะเปิดโรงแรมใหม่ภายใต้การบริหารของดสุิต อินเตอร์เนชัน่แนล จ านวน 11 แห่ง ในประเทศฟิลิปปินส์ สิงคโปร์ จีน การ์ตา บาห์เรน และ

Efficiency Ratio Return on Assets (%) (0.3) 1.5 Return on Fixed Assets (%) 8.1 15.8 Asset Turnover (Time) 0.4 0.5 Leverage Ratio Debt to Equity (Time) 1.0 0.9 Interest Coverage Ratio (Time) 1.1 1.9 27 ASIA’S

% (2) Net growth & investments CAPEX (299) (116) (183) (622) (779) (20)% Net working capital on acquired /sold Asset (30) - (98) (15) (235) (93)% Maintenance Capex (22) (24) (17) (91) (68) 34% Cash Flow

(%) 0.2 5.0 Return on Fixed Assets (%) 9.5 38.1 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.0 0.8 Interest Coverage Ratio (Time) 1.5 3.7 24 ASIA’S BOUTIQUE AIRLINE Glossary

)% Operating Cash Flow (OCF) 188 258 300 853 758 13% (2) Net growth & investments CAPEX (129) (299) (107) (644) (776) (17)% Net working capital on acquired /sold Asset (12) (30) 14 (41) (221) (81)% Maintenance

consideration the associated risks, targeted returns on investments, and continued financial disciplines. Currently the Company is in negotiations with the Dhanarak Asset Development (DAD) on details of the

Assets (%) (0.2) 5.0 Return on Fixed Assets (%) 8.0 36.7 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.0 0.9 Interest Coverage Ratio (Time) 1.3 3.4 24 ASIA’S BOUTIQUE AIRLINE

of long term investment in the 3rd quarter of 2018 amounting Baht 95 million.  Total assets As of 30 September 2017, the Company and subsidiary has total asset amounted to THB 31,907 million

) (129) (100) (720) (761) (5)% Net working capital on acquired /sold Asset (11) (12) 0 (52) (211) (75)% Maintenance Capex (30) (25) (26) (101) (80) 26% Cash Flow After Strategic Spending 31 21 58 45 (309