Dubai crude oil price increased from the previous quarter, however, during early August through early September 2019 crude oil price severely declined. In the contrary, there was an inventory gain in Q3

battered severely due to trade partners’ economic slowdown and crippled supply chains in many countries. This has had repercussions for business and household income in a broader scope, which has

have increased - except for Hadyai. However, ARR for the Maldives market has decreased by 3.5% YoY as a result of the current intensely competitive hotels business in that market mainly due to the