industry. The impacts on the Company are worse than others because the majority of income and sales volume of the Company during the first 9 months derive from sales and ownership transfer of ready-to-move
contraction was -3% vs Q1 2019. This will be much worse in Q2 with a double-digit contraction, and on annualized basis, the IMF forecast for Thailand is now -6.5% in FY 2020 with a bounce back expected in 2021
sign to be worse. However, the Company will operate business without carelessness by drawing attention to the risk factors in every directions. The executing has prepared carefully to the any occurrence
amortization (EBITDA) at THB 27 million. However, the company had better performance than the previous quarter this year which had net loss of THB 451 million but worse than the same quarter last year which had
which dropped quicker and worse than expected, the Company also took longer than planned to generate sales from new businesses and new product groups. In addition, the Company’s costs increased, mainly
its Subsidiaries Management’s Discussion and Analysis for the year ended 30 June 2020 2 ASIA’S BOUTIQUE AIRLINE Executive Summary The Covid-19 pandemic plunged global economy into worse recession in the
of 2019. Exports, tourism and private investment – among major economic activities – were hampered by the worse-than-expected global economic slowdown. Meanwhile, consumers’ purchasing power weakened
effectiveness of pandemic control and vaccine development, the economic damage may be worse than what was seen during the 1997 financial crisis. Given volatility in the financial market and real sector which had
the US which triggered anxiety among global investors, the worse-than-expected US economic figures, and the Federal Reserve’s monetary policy perspectives, especially concerns over low US inflation
economy remained in the doldrums, as evidenced by slowdowns in both advanced and emerging economies. Negative factors included the persistent US-China trade rift and concerns about a no-deal Brexit. Worse