renovations of KKP Tower. Cost-to- income ratio excluding loss from sale of foreclosed assets and loss from revaluations stood at 47.8% for 2018 declining slightly comparing to 48.2% during 2017. Impairment
and 9M19 P a g e | 10 ● Maintains total estimated CAPEX of Baht 1,140 million excluding new investment: ₋ Baht 245 million for 3 hotel renovations (Dusit Thani Pattaya, Dusit Princess Chiangmai and
million for 3 hotel renovations (Dusit Thani Pattaya, Dusit Princess Chiangmai and Dusit Princess Srinakarin Bangkok) and Dusit Thani College - THB 245 million for ERP, software, hotel and education CAPEX
service station customers. The company closed down service stations that sold under target and were coming to the end of their contract, and made renovations to existing locations to increase thruput per
31,843 mn, an increase of 9.7% YoY (for 4Q19, the revenue stood at THB 8,183 mn, an increase of 7.7% YoY). Despite the impact from the ongoing renovations, the business posted solid revenue growth as