inevitably affected the Company’s operating revenue. In addition, the Company had invested in renovating its long overdue hotels to enhance competitive edge in the market. Moreover, the economic slowdown and

management. Overall ADR stood at THB 2,922. The occupancy rate was 62.2%. RevPAR of our hotel stood at THB 1,818, which its growth was contributed by owned hotel performance. THB mn MANAGEMENT DISCUSSION

obstacles to living or occupations will be abolished or revised to lessen burden on people. By doing so, methods used must be done with speed, transparency, low costs with participation of all related

abolished or revised to lessen burden on people. By doing so, methods used must be done with speed, transparency, low costs with participation from all related parties.

lessen burdens on people. By doing so, methods used must be done with speed, transparency, low costs with participation of all related parties.

investment before Type B unitholders according to the waterfall repayment structure Key Impact on Unit Type A: ▪ No tax benefits but actual return rate with annual minimum and maximum limit ▪ Right to receive

benefits to enhance competitiveness compared to the industry as well as higher R&D expenses for new product development. 6M/2017 Administrative Expenses The Company and its subsidiaries recorded

of net proceed from base offering in July and over-allotment proceed in August. This proceed would allow us to enhance our capital structure reflecting in net-interest- bearing debt to equity ratio as

Q4/2018, inventory loss was THB 2,517 million. In this quarter, the refinery’s average production rate was 110.12 thousand barrels per day, as there was a maintenance of the Hydrocracking Unit’s Gas

front, the lower employment rate and high household debt causing most of the financial institutions to offload their NPLs and NPAs for asset management companies (AMCs) to manage further. The competition