ratio (time)** 2.48 13.33 * Annualized ** =EBIT/Interest expense Dusit Thani PLC Management Discussion and Analysis For 2Q19 and 6M19 P a g e | 11 students’ learning experiences through practical skill

ratio (time)** 2.50 13.33 * Annualized ** =EBIT/Interest expense Dusit Thani PLC Management Discussion and Analysis For 2Q19 and 6M19 P a g e | 11 students’ learning experiences through practical skill

advice to audit firms outside the capital market on how to prepare for entry into the capital market. Additionally, the SEC organized educational activities for university students in the Accounting field

Center (DTEC) led by Dusit Thani College. Share of profits from investments in 2017 was THB 13 million, a 56.7% decrease yoy, primarily attributable to a decrease in number of students at Le Cordon Bleu

special education programs (Non-Degree programs), short courses or continuous courses (Modular) focusing on enhancing the potential of students and respond to changing demand. This includes plans to

– a 50:50 JV of U City and a Hong Kong partner has made the first press conference. The school offers a personalised educational experience designed with students’ interests and passions at its core

E_1 Legal_FA_2015_12_29-c A CCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended June 30, 2017 The global economy in the second quarter of 2017 maintained its growth momentum. Similarly, Thailand’s major economic indicators continued to exhibit growth, as evidenced by brighter exports, government spending and private spending on certain items of durable goods. The Thai economy hence showed ongoing improvement from the first quarter. Nonetheless, the...

E_1 Legal_FA_2015_12_29-c A FFeeCCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended September 30, 2017 The Thai economy maintained steady growth in the third quarter of 2017, buoyed largely by tourism and exports. Nonetheless, the economic recovery was not broad-based, as evidenced by sluggish private consumption. While certain businesses were still fragile, others remained mired in uncertainty in terms of new modes of competition, a broader market...

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending June 30, 2019 The Thai economy faced increased headwinds in the second quarter of 2019. Exports, tourism and private investment – among major economic activities – were hampered by the worse-than-expected global economic slowdown. Meanwhile, consumers’ purchasing power weakened amid high household debt, whereas public investment and the government’s budget disbursement were aff...

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...