House hotels completed. The major renovation of Vienna House Easy Cracow, Vienna House Easy Bucharest, Vienna House Diplomat Prague and Vienna House Amber Baltic were completed in 2Q 2019. 24 May 2019

CONTRIBUTION This quarter, the hospitality segment was the primary growth contributor, 5% growth or from THB 1,179mn in 1Q 2018 to THB 1,239mn in 1Q 2019. These were from (i) new hotels launch: Vienna House Easy

) for the acquisition of the 176-key hotel Vienna House Easy Chopin Bratislava, which was formerly only managed by Vienna House for EUR 8.9mn (THB 347mn). On 1 March 2018, all economic benefits, risks

. Worse, Brexit risks became heightened in the wake of political change in the United Kingdom. The World Economic Outlook of the International Monetary Fund cut its 2019 global economic growth projection to

maintained its growth momentum. Similarly, Thailand’s major economic indicators continued to exhibit growth, as evidenced by brighter exports, government spending and private spending on certain items of

August 2015 http://www.ku.ac.th/web2012/ Why is it interesting? • There is anecdotal evidence that a number of managers likely focus on creating consistent earnings growth. • In addition, scientific

House Easy Leipzig (VHE Leipzig) hotel under Vienna House was fully launched MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 14 AUG 2018 U CITY PCL 2Q 2018 MD&A (for the quarter ended 30 June 2018) 2 U CITY PCL

E_1 Legal_FA_2015_12_29-c A FFeeCCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended September 30, 2017 The Thai economy maintained steady growth in the

$ bln) CRSP US Large Cap Growth TR (48 $ bln) 2 CRSP US Total Market TR (405 $ bln) NYSE Arca Gold Miners TR (6 $ bln) CRSP US Large Cap Value TR (37 $ bln) 3 FTSE Global All Cap ex US NR (146 $ bln) BMV

-year average of 68.0 percent. Consequently, employment contracted by 0.7 percent. Private consumption slightly softened due to stagnant farm and non-farm income growth. Moreover, household debt, which