investment in last year. The Company maintained healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.56 times. 2019 Outlook Company maintains 2019 outlook

backlog was THB 16,745mn, decreasing by 6.9% as compared to the end of 2018 of THB 17,981mn. Although the JVs had sturdy sales in The Line Wongsawang, The Line Ratchathewi and The Line Phahonyothin Park

healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.10 times. 2018 Outlook Maintain 2018 forecast, yet adjust down new hotels opening • Despite Boat

documents consist of various types of standard forms, brochures and other commercial documents, including counterfeit prevention labels manufactured using advanced printing techniques and counterfeit

and commercial documents consist of various types of standard forms, brochures and other commercial documents, including counterfeit prevention labels manufactured using advanced printing techniques and

various types of standard forms, brochures and other commercial documents, including counterfeit prevention labels manufactured using advanced printing techniques and counterfeit prevention technologies 4

liquidity ratio was 1.35 times. The Company maintained healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.09 times. 2019 Outlook 2018 was the final

and small business loan. Although, the non-performing loans affected profitability, but the Thai commercial banking system still remained sturdy. Credit Rating Land and Houses Bank Public Company

loan. Although, the non-performing loans affected profitability, but the Thai commercial banking system still remained sturdy. Credit Rating Land and Houses Bank Public Company Limited is assigned the

or another reason. Risk of counterfeit and parallel retail networks could negatively impact the Group's revenue and profit. Like with any high-end, luxury products, the Brand and the Group's products