were also higher, but these are investments into the future competitiveness of the company. On the upside we expect to see some of the variable cost pressure, notably fuel, to ease in the following
relating to employee incentives. On the upside, the maintenance, which would have occurred later in the year, is now complete so we do not expect major maintenance activity in H2 and have the ability to run
ease this pressure, and with the upward trend in prices, we will continue to expect healthy margins.” 2. Outlook Overall Thai economic activity in the first quarter of 2018 beat expectations with an
quarter of 2020. Considering the Company’s separate financial statement, the operating and administrative expenses as a percentage of total revenues was down to 35% in the first quarter of 2020. - Expect
the net expected return (after trading costs) is higher than zero. Hypothesis construction • H2: With respect to the type of market participants, we expect retail investors to be more likely to
area. The Company is expect to get higher income from this business as well. Thus, you have been informed for your acknowledgment. Sincerely Yours, -Singed - (Mr. Suphot Wanna) Chief Executive Officer
expected to generate THB 6,200 - 6,500mn. We expect Vienna House to benefit from (1) the uplift of renovating 5 hotels, (2) the opening of 2 hotels Vienna House Mokotow Warsaw and Vienna House Easy Kronberg
community will start to increase rental revenues in early of 2020. 4. The Coffee shop under brand “Casa Lapin” increase more sales and expect to break- even as according to the budget. Thus, you have been
: Transaction Date After the approval from the Board of Directors In this regard, the Company and the Seller will expect that the completion of the transaction will take place within March 2019. Related Parties
allotment of newly issued ordinary shares to the existing shareholders of the Company in proportion to their shareholding (Right Offering) which expect to subscribe during 27 – 31 May 2019. After the capital