purchase order from big industry in first quarter of 2019 in an amounting of Baht 89.84 million. Almost of all revenue was gradually recognized since first quarter until this quarter. Moreover the Company

consumption sentiment effecting whole foodservice and retail industry in Thailand. • Revenue from Non-café in Q4/2019 was THB 10 million which decreased by THB 7 million or 41% from Q4/2018 due to the lower

Public Company Limited Future operating trends The Company remains committed to maintaining its leadership in the healthcare industry by focusing on the development of quality, efficiency, and responding

Results Analysis on Previous Operation According to the economic situation in 2016, the capacity and sales of automobile and motorcycle manufacturing industry which is the main business unit of the Company

, the growths of aviation fuel services volume and total flights of thus two main airports were 1.2% (y-o-y) and 2.8%(y-o-y) respectively with consequences to the growth of tourism industry of Thailand

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

growth of aviation fuel services volume and total flights of thus two main airports were 1.4%(y-o-y) and 2.8%(y-o-y) respectively with consequences to the growth of tourism industry of Thailand. Further

due to the stimulus policy from the government in relation to telecommunication industry giving a positive impact towards the Company in winning many new contracts and consequently resulting in a

' equity 5,552 57.6% 5,354 59.3% 3.7% Dusit Thani PCL Management Discussion and Analysis For 3Q17 and 9M17 P a g e | 6 Outlook The last quarter is normally the high season for tourism industry. The tourism

— in residential industry, also gained the most popularity in condominium brand in Japan. In addition NRED also has experience in Recurring Income business in Japan. Thus the opportunity to enter a joint