. Besides, investors were prone to searching for yields while securities companies and commercial banks acting as an intermediary for offering of such debt securities provided insufficient information for

virus, comprising with the government’s measures such as closed the risk-prone areas, no activity in crowded places and imposed the curfew from 10 p.m. to 4 a.m. starting from April 3, 2020 until present

tends to smooth long-term relationships and flexibly adjust to situations (Komin, 1990). Even though communications in the Thai language are prone to be neutral to avoid confrontation (Foley, 2005), owing

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

of international tourists. Private investment is prone to recover in the second half of 2017 especially in automobile equipment, consistent with significant growth of passenger car sales in Q3

projects. • Gain competitive advantages. Knetsch & Salzmann (2022) • Firms in countries with a higher level of societal trust are less prone to underinvestment. Disadvantages Datta-Chaudhuri (1990); Han et

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