brand that is unique Thai heritage combined with international standards, the Company has focused more on the hotel management revenue to support the expected drop of hotel revenue from the closure of

% 2. ECONOMIC SITUATION Thai economy in Q2/2019 moderated from previous quarter. The global demand weaker from protectionist trade policies between the US and China, which effected to export sector

Company has sent employees to Hong Kong to train and prepare for the opening of the Hong Kong branch • Expanding opportunities for growth by initiating dessert café establishment in China, aiming to

Template updated as of June 2022 For public offering of Mutual Recognition of Funds between Hong Kong Special Administrative Region of the People's Republic of China and Thailand (HK-TH MRF) in

and China. Thai economy outlook in 2020 is expected to grow under its potential, the Bank of Thailand estimates GDP growth at 1.5% to 2.5% from a slow pace of export, the drought circumstance and corona

passenger revenue were from point-of-sale in Europe at 27.0 percent, in Asia excluding Thailand at 25.0 percent and in Thailand at 18.0 percent of total passenger revenues. China contributed the highest

on Foreign Exchange recorded at THB 172 million, due to the Thai Baht appreciating against the US Dollar which led to gain on exchange rate conversion of foreign currency loan. 7. In Q1/2018, there was

expansions. The tightening policies of major central banks – US, Europe, Japan, China - could also impact the Thai financial conditions. For the auto industry, the first 11 months showed continuous recovery

create opportunity for loan expansions. The tightening policies of major central banks – US, Europe, Japan, China - could also impact the Thai financial conditions. For the auto industry, the year 2017

that Thai economy will grow faster than the same period last year, reflecting in a higher GDP. Export and tourism sector are the main factors that support Thai economy in the second quarter. In addition