political clarity from elections. Resulting in a slowdown in investment from the private sector and the public sector, there is intense competition from the domestic market. Increasing product costs due to

from the private sector and the government slowed down. There is intense competition. The cost of goods increases from the labor cost that the company must bear. In the second quarter of 2019, the

the same period of the previous year by 3.83 million Baht and 12.38 million Baht respectively, due to the lower sales caused by the depreciation of Thai Baht and intense competitive situation in foreign

passenger yield dropped from 4.91 baht per passenger-kilometers to 4.79 baht per passenger- kilometers or by 2.3 percent as a consequence of intense competition within the industry. Regarding the airport

from 4.91 baht per passenger-kilometers to 4.79 baht per passenger- kilometers or by 2.3 percent as a consequence of intense competition within the industry. Regarding the airport-related businesses, the

of 33.5% year on year, reflecting intense competition in the industry. As Bake Cheese Tart (Thailand) Company Limited runs under franchise business, which has rigid restrictions from the franchisor in

of the Thai baht and the intense competition which caused the exports to shrink from the previous year. Domestic consumption was also affected by high living expenses and household debt, as well as the

waiver until the end of April 2019 ; and 3.) other supporting factors, namely government subsidy to the low-income citizens to stimulate near-term consumption, as well as strong investment outlook in

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 14 Executive Summary CPN’s revenues continues to grow primarily from strong shopping mall performance

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary CPN’s revenues continues to grow primarily from strong rental business performance