THE PLATINUM GROUP PLC.,(“PLAT”) Performance of Q2 / 2018
1Disclaimer The information contained in this presentation is strictly - - PowerPoint PPT Presentation
Disclaimer The information contained in this presentation is strictly - - PowerPoint PPT Presentation
THE PLATINUM GROUP PLC.,( PLAT) Performance of Q2 / 2018 1 Disclaimer The information contained in this presentation is strictly confidential and is provided by The Platinum Group Public Company Limited (PLAT or the
Disclaimer
The information contained in this presentation is strictly confidential and is provided by The Platinum Group Public Company Limited (PLAT or the "Company") to you solely for your reference. Neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization or elsewhere, without the prior written consent of the Company and their respective affiliates or advisors. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company and their respective affiliates or advisors. Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company and its subsidiaries. None of the Company nor any of its respective affiliates or advisors nor any of its or their respective members, directors, officers, employees- r affiliates make any representation or warranty (express or implied) regarding, nor assumes any responsibility or liability for, the accuracy or completeness of, or any
- r solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in
- 2 -
AGENDA
Business Overview Key Highlight Financial Results Core Business Update
- The Platinum Fashion Mall
- The Wharf Samui
- The Neon Night Bazaar
- Novotel Bangkok
Q&A Appendix FQA
3- ptimum
PLAT’S VISION MISSIONS
To Support “Pratunum Trading District” development as a central strategic location for the country To continue strengthen wholesale shopping center management in all market segments To promote the holistic view of mixed used property development to meet business requirement for local and South East Asia To encourage the entrepreneurship, strategic partner engagement, and responsible for social , community, environment, employees and shareholders for sustainable growth 4Major Shareholders
Choturangko- l Family,
PLAT’S Profile
Symbol “PLAT”
5Current Projects (As of 30 Jun 18)
6Projects in pipeline (As of 30 Jun18)
7PLAT’s Revenue Snapshot
61% 19% 13% 7% Rental&Service Hotel F&B Others 8 670 1,015 1,169 1,445 1,768 1,863 2,059 998 1,047 2011 2012 2013 2014 2015 2016 2017 1H 2017 1H 2018 CAGR Revenue Growth 2011-2017 = 17% PLAT’s Revenue Portfolio- The Concept of the Market Bangkok
- Progress of The Market Bangkok Phase 1 (M1,M2)
- Progress of 3 stories building
- Progress of Holiday Inn Samui
Key Highlight
PROJECT PRESENTATION
(UPDATED AS OF FEB 12 2018)DEVELOPER PROFILE
CURRENT PROJECTS ON HAND FUTURE DEVELOPMENTS IN MILESTONE- THE WHARF SAMUI
- Beachfront shopping plaza
- TALAD NEON
- More than 700 shops including tents,
- R WALK (BANGKOK SKYLINE)
- Connecting big players in Ratchaprasong
- HOLIDAY INN EXPRESS,
- 202 room keys
- HOLIDAY INN RESORT,
- 127 room keys
- THE PLATINUM FASHION MALL
- 2,300 shops
- PLATINUM FOOD CENTER
- more than 100 food choices
- n 2,000 sq.m.
- NOVOTEL PLATINUM
- 288 room keys
- PLATINUM CONDOMINIUM
- 320 units
- THE MARKET BANGKOK
- New shopping experience
- Hotels
- Office
PROJECT LOCATION
PARKING SCB VANICH BUILDING NAI LERT PARK THANACHART BANKMASTER PLAN & ACCESSIBILITY
1 2 3 4 5 BA BANGKOK SKYL YLINE PRATU TUNAM PIER M1 M2 M3PROJECT SURROUNDINGS
17 32 8 10 2 16 5 7 SHOPPING MALL (27+ Bld.) 1.CENTRAL WORLD 2.BIG C RACHDAMRI 3.PLATINUM 4.GAYSORN 5.SIAM PARAGON 6.SIAM CENTER 7.SIAM DISCOVERY 8.SQ1 9.DIGITAL GATEWAY 10.MBK CENTER 11.SAIM KIT 12.ERAWAN 13.PENILSULA PLAZA 14.AMARIN 15.MERCURY VILLE 16.PORTICO 17.CENTRAL CHIDLOM 18.CENTRAL EMBASSY 19.PALLADIUM 20.TALAD NEON 21.WATERGATE PAVILLION 22.INDRA SQUARE 23.CITY COMPLEX 24.KRUNGTONG PLAZA 25.SHIBUYA 26.PANTIP PLAZA 27.GRAND DAIMOND OFFICE BUILDING (17+ Bld.) 1.THE OFFICE @ CENTRAL WORLD 2.KPI TOWER 3.SIAM COMMERCIAL BANK 4.TANACHART BANK 5.VANIT BUILDING 6.ORAKARN BUILDING 7.VANISSA I,II 8.ALMA LINK 9.MANEEYA CENTER 10.MERCURY TOWER 11.PARK VENTURE 12.CIMB 13.ALL SEASONS 14.WAVE PLACE 15.KRUNG THAI BANK HEAD OFFICE 16.PLOENCHIT CENTER 17.TWO PACIFIC PLACE HOTEL (35+ Bld.) 1.NOVOTEL PRATUNAM 2.AMARI WATERGATE 3.CENTARA GRAND 4.SIAM KEMPINSKI 5.VIE HOTEL 6.NOVOTEL SIAM SQUARE 7.PATHUMWAN PRINCESS 8.IBIS 9.HOLIDAY INN EXPRESS 10.SIAM @ SIAM 11.HUA CHANG HERITAGE 12.EVERGREEN PLACE 13.ASIA HOTEL 14.BERKLEY PRATUNAM 15.CENTARA WATERGATE PAVILLION 16.ARNOMA GRAND 17.INTERCONTINENTIAL 18.HOLIDAY INN 19.GRAND HYATT ERAWAN 20.RENAISSANCE 21.COURTYARD BY MARRIOTT 22.ANATARA SIAM 23.HANSAR 24.ST. REGIS 25.208 WIRELESS 26.CONRAD HOTEL 27.HOTEL INDIGO 28.PLAZA ATHENEE 29.NOVOTEL PLOENCHIT 30.SIVATEL BANGKOK 31.JW MARRIOTT 32.AMARI BOULEVARD 33.LANDMARK 34.ADLIB 35.OKURA BANGKOK CONDOMINIUM (13+ Bld.) 1.MANHATTAN CHIDLOM 2.CHIDLOM PLACE 3.THE ADDRESS CHIDLOM 4.THE PARK CHIDLOM 5.SOMKID GARDENS 6.MAGNOLIA 7.RAJDAMRI SERVICED RESIDENCE 8.ROYAL PLACE 2 9.BAAN SANSIN 10.URBANA LANGSUAN 11.GRAND CENTER POINT 12.ALL SEASONS MANSION 13.FRASER SUITE GOVERNMENT OFFICE/ ACADEMIC / OTHERS (14+ Bld.) 1.CHULALONGKORN UNIVERSITY 2.PATHUMWAN DEMONSTRATION SCHOOL 3.TRIAM UDOM SUKSA SCHOOL 4.SPORT CLUB 5.SMALL ANIMAL TECHING HOSPITAL CHULA 6.POLICE HOSPITAL 7.ROYAL THAI POLICE 8.NATIONAL STADIUM 9.PATHUMWANNARAM TEMPLE 10.BANGKOK ART AND CULTURE CENTER 11.MATROPOLITAN ELECTRICITY AUTHORITY 12.BRITTISH EMBASSY 13.THE EMBASSY OF SWITZERLAND 14.BAMRUNGRAD INTERNATIONAL HOSPITALCATCHMENT AREA
1.5 KM. 5 KM. HUAI KHWANG 80,735 PEOPLE 52,164 HOUSEHOLDS WATTHANA 84,214 PEOPLE 56,530 HOUSEHOLDS KLONG TOEI 106,233 PEOPLE 57,872 HOUSEHOLDS PATHUM WAN 50,673 PEOPLE 26,513 HOUSEHOLDS RATCHATHEWI 73,597 PEOPLE 39,183 HOUSEHOLDS DINDANG 125,964 PEOPLE 52,426 HOUSEHOLDS PAYATAI 71,864 PEOPLE 36,033 HOUSEHOLDS BANG RAK 46,777 PEOPLE 26,398 HOUSEHOLDS DUSIT 101,576 PEOPLE 31,751 HOUSEHOLDS POMPRAPSATRUPAI 48,585 PEOPLE 19,334 HOUSEHOLDS PRANAKORN 53,899 PEOPLE 18,468 HOUSEHOLDS SUMPANTAWONG 25,694 PEOPLE 13,267 HOUSEHOLDS KLONG SAN 74,796 PEOPLE 35,127 HOUSEHOLDS Source: Department of Provincial Administration 2014 More than 1.31 million people have been living within project’s catchment area of 5 km radius. This tremendous number covers 17 Bangkok districts, where the residents shall undoubtedly be the project’s high potential customers.TRAFFIC INFORMATION
An ideal location of transportation hub that can easily be accessed by many kinds of transportation namely CAR, BUS, BOAT, BTS and SKYWALK. This is followed by tremendous numbers of potential visitors everyday. SKYWALKCAR & PUBLIC BUS BOAT SERVICE BTS SKYTRAIN CITY SKYWALK PRATUNAM PIER
NO.1 VISITATION NUMBER OF ALL PIERS IN 2016. MORE THAN 5,300,000 PAX/YEAR OR 14,000 PAX/DAY SOURCE: Marine Department 2016BTS : CHIDLOM STATION
TOP 10 MOST VISITATION NUMBER STATIONS IN 2016. MORE THAN 15,370,000 PAX/YEAR OR 42,000 PAX/DAY SOURCE: VGI (Mar, 2014)R WALK (BANGKOK SKYLINE)
600,000 : A VISITATION NUMBER PER DAY ON RAJPRASONG DISTRICT, WITH MORE THAN 100,000 PEOPLE PER DAY USING R-WALK WHICH LEADS DIRECTLY TO THE MARKET BANGKOK SOURCE: RSTA 2018RAJDAMRHI, PETCHBURI & CHIDLOM RD.
ONE OF THE MOST CAR TRAFFIC COUNTING ROADS IN BANGKOK 150,000 : A TOTAL CAR TRAFFIC COUNTING PER DAY ON THE PROJECT’S SURROUNDING MAIN ROADS SOURCE: THE OFFICE OF BANGKOK TRAFFIC & TRANSPORT DEPARTMENT 2015TARGET VISITORS
OFFICE WORKERS & STUDENTS RESIDENTS LOCAL THAISFOREIGN TOURISTS
A complete EVERYDAY shopping & dinning venue in the heart of Bangkok A GATHERING welcoming place for family & friends An enjoyable place with various kinds of food, activities and trendy merchandises at AFFORDABLE price A MUST VISIT destination whenever visiting Bangkok. This place will offer a UNIQUE EXPERIENCE like no othersINTERNATIONAL TOURIST INFORMATION
WORLD’S TOP TOURISM DESTINATIONS Thailand jumped from 9th to 6th place in tourism receipts in 2015 USA UK Russia Japan Korea Europe AEC China 0.86mil 0.89mil 0.93mil 1.31mil 1.33mil 5.39mil 7.78mil 8.22mil India 1.00mil +12.32% +6.52% +22.78% +11.42% +4.31% +8.08% +10.52% +10.00% +12.65% TOP 9 NATIONALITIES OF VISITOR TO THAILAND January – November (comparing 2015 to 2016) NUMBER OF VISITOR ARRIVALS TO THAILAND January – November (comparing 2015 to 2016) 2016 : 29.53 mil 2015 : 26.90 mil 9.78% Rank US ($) Rank US ($) Rank US ($) 1) US 204.5bil 4) France 45.9bil 7) Italy 39.4bil 2) China 114.1bil 5) UK 45.5bil 8) Germany 36.9bil 3) Spain 56.5bil 6) Thailand 44.6bil 9) Hong Kong 36.2bil Source: Data as collected by UNWTO, July 2016 Source: Department of Tourism Source: Department of Tourism WORLD’S TOP 10 MOST VISITED CITIES IN 2016 BANGKOK became Number 1 Asian city for second consecutive year to top the MasterCard Global Destination Cities Index, edging out London and other top three feeder cities; namely, Paris, Dubai and New York. Source: Forbes and TravelerPROJECT CONCEPT
“The Market Bangkok” : All in one destination with an excellent combination of function and emotion of remarkable Bangkok’s market experiences,- ffering a sensational touch that has never been happened ever before. This concept will truly fulfill customer satisfaction, whether they are Local Thais or
- thers in the district.
“EVERYDAY MARKET FOR EVERYONE’S LIFESTYLE”
PROJECT IDENTITY & UNIQUENESS EVERYDAY EVERYONE EXPERIENCE AFFORDABLE REPEATING PHOTO PHOTO PHOTO
1 5 2 3 4
Whether it’s a daily activity, a special- ccasion, or a quick
- ur merchandises and
- ur customers to
- ccupations and
- nationalities. Whether
- time. Selection of
PROJECT INFORMATION
THE MARKET PROJECT INFORMATION PROJECT OWNER: The Platinum Group PLC. LOCATION: Ratchadamri Road (Bangkok Downtown) LAND AREA : 20 Rais., (approx.) PROJECT TYPE: Mixed-Use Development Shopping Center, Hotel & Office Building TARGET CUSTOMERS : Office Workers, Students, Residents, Local Thais &Tourists GROSS BUILDING AREA (GBA) : 200,000 Sq.m. (approx.) (Excluding Hotel & Office) GROSS LEASABLE AREA (GLA) : 40,000 Sq.m. (approx.) (M1+M2=34,000 Sq.m., M3=6,000 Sq.m.) PARKING LOTS : 2,000 Cars (approx.) NUMBER OF FLOOR : 6 Retail Floors OPENING DATE : Q4,2018PROJECT COMPONENTS
A perfectly ideal combination of mixed use project in downtown of Bangkok. It will be the ultimate destination for all visitors across the world as well as Local Thais, where satisfaction and needs will be fulfilled and completed under this one roof.SHOPPING CENTER
M1 M2 2018, M3 2020 M1+M2 = 34,000 SQ.M. (approx.) M3 = 6,000 SQ.M. (approx.)OFFICE BUILDING 2021
50,000 SQ.M (approx.)HOTEL BUILDINGS 2021
966 KEYS (approx.)SKYWALK MAIN ROAD
c c M1 M3 M2 c HOTEL 1 HOTEL 2 OFFICE SHOPPING CENTERFASHION & ACCESSORIES FASHION & ACCESSORIES
SPECIALTY STORERESTAURANT
M3 M2
RAJDHAMRI ROAD BANGKOK SKYLINE DECORATIVE ITEMS COSMETIC & SKIN CARE BANK4F
LOCAL WISDOM SOUVENIRRETAIL FLOOR CONCEPT M1
3F 2F 1F GF MF
EXPERIENCED THAI CONCEPT STORE & BEAUTY MEGA STORE EXPERIENCED THAI CONCEPT STORE & BEAUTY MEGA STOREWELLNESS & VITALITY
EXTERIOR PERSPECTIVE
SUBJECT TO CHANGE & AUTHORIZATIONEXTERIOR PERSPECTIVE
SUBJECT TO CHANGE & AUTHORIZATIONEXTERIOR PERSPECTIVE
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE G FLOOR : LIFESTYLE CAFE
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE G FLOOR : LIFESTYLE CAFE
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE M FLOOR : FASHION & ACCESSORIES
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE M FLOOR : FASHION & ACCESSORIES
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE M FLOOR : FASHION & ACCESSORIES
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE M FLOOR : FASHION & ACCESSORIES I PROMOTION AREA I
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE 1ST FLOOR : FASHION & ACCESSORIES
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE 1ST FLOOR : FASHION & ACCESSORIES
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE 2ND FLOOR : SOUVENIRS, DECORATIVE ITEMS, COSMETIC & SKIN CARE, SPECIALTY STORE, BANKS
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE 3RD FLOOR : RESTAURANT
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE 3RD FLOOR : RESTAURANT
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE 3RD FLOOR : RESTAURANT
SUBJECT TO CHANGE & AUTHORIZATIONINTERIOR PERSPECTIVE 4TH FLOOR : WELLNESS & VITALITY
SUBJECT TO CHANGE & AUTHORIZATIONThe Market Bangkok (Retail PHASE 1) Construction Update
42The Market Bangkok Retail Phase 1
43The Market Bangkok Retail Phase 1
Overall Progress = 85% Paid :3,121 MB Opening : November 2018 As of End of July 2018The Market Bangkok Retail Phase 1
As of 30 Jun 2018The Market Bangkok Retail Phase 1
As of 30 Jun 2018 46The Market Bangkok Retail Phase 1
47The Market Bangkok Retail Phase 1
483 Stories Building (Back of Platinum Fashion Mall)
Overall progress = 80% Opening : Q3/2018 49The Market Bangkok (Retail PHASE 1) Sale Progress Update = 65%
50Hotel projects in Samui
Expansion Plan –Rental & Service
Rental & Service Business ( Sq.m. Leasable Area) Y2017 32,938 Y2019 60,938 Y2018 60,938 Y2021 105,638 Y2020 67,638 54- In Q4/18, The leasable area from Rental &Service business will increase from 32,938 sq.m. to 60,938
Expansion Plan- Hotel
Hotel Business (Keys) 288 288 288 288 288 127 127 202 202 434 532 2017 2018 2019 2020 2021 Novotel BKK Holiday Inn Resort samui Holiday Inn Express Samui Hotel M3 Hotel M1 Y2017 288 Y2019 288 Y2018 288 Y2021 1,583 Y2020 617 55- In year 2020, there will be 329 additional keys from Holiday Inn Samui.
- In year 2021, there will be another 2 hotels in The Market Bangkok project with 966 keys from Hotel on M1
5 Year Plan Capital Expenditure
568 467 2170 526 599 69 13 19 125 1055 1580 808 29 283 1027 563 581 515 2,295 1,864 3,206 1,440 BEFORE 2017 2017 2018 2019 2020 2021 FIXED ASSET INVESTMENT (MB) Retail Hotel Office TOTAL 2020 2018-2019 2015-2017 32,938 Sq.m. 288 Hotel Keys 60,938 Sq.m. 288 Hotel Keys 67,638 Sq.m. 617 Hotel Keys 105,638 Sq.m. 1,583 Hotel Keys 56Financial Result Q2/2018
57Financial Summary
Revenue 670 1,015 1,169 1,445 1,768 1,863 2,059 500 517 545 531 517 2011 2012 2013 2014 2015 2016 2017 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Unit :Million Baht EBITDA Net Profit EBITDA Margin Net Profit Margin- 58 -
Revenue Breakdown
500 517 517 531 517 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Rental and Services Hotel Business Food and Beverage Others 62% 14% 6% 60% 19% 13% 8% 61% 57% 39% 3% 43% 28% 25% 4% 45% 26% 24% 5% 63% 17% 16% 4% 59% 13% 19% 9% 1% 20% 13% 5% 59% 13% 20% 8%- 59 -
Gross Profit from Core Business
46% 47% 52% 60% 61% 62%- 60 -
Core Business
226 231 259 247 253 837 941 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 2016 2017 Gross Profit from Rental Business Gross Profit from Hotel Business Gross profit Margin 75% 76% 75% Gross Profit from Food & Beverage Business Gross profit Margin 56% 50% Gross profit Margin 22% 20% 24% 53% 73% 74% +27 MB, +12% YoY 52% 25% 23%- 61 -
- 2 MB,
- 12 % YoY
- ver 2,600 shops where had opened since November 2005
The Platinum Fashion Mall
63The Platinum Fashion Mall
Baht per sq.m. per month- 64 -
The Platinum Fashion Mall
65The Platinum Fashion Mall
By Area By Shop- 66 -
The Platinum Fashion Mall
- 67 -
The Platinum Fashion Mall
- 68 -
The Wharf Samui
70The Wharf Samui
Baht per sq.m. per month- 71 -
The Wharf Samui
72The Neon Night Bazaar
74The Neon Night Bazaar
Baht per sq.m. per month- 75 -
Novotel Bangkok Platinum Pratunam
77Novotel Bangkok Pratunum
78Novotel Bangkok Platinum Pratunam
87% 88% 82% 90% 90% 94% 88% 2016 2017 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18- 79 -
- 80 -
Novotel Bangkok Platinum Pratunam
Existing Group Business
Hotel Business- 81 -
Q&A
82Appendix
83Quarter 2/2018 Consolidated Income Statement
UNIT : MB Q2/17 Common Size Q2/18 Common Size % Change Revenue and Services income 308 62% 334 65% +8.4% Revenues from hotel operations 89 18% 97 19% +9% Revenues from F&B 69 14% 66 13%- 4.3%
- 41.3%
- 1.2%
- 1.9%
- 3.4%
- 0.7%
H2/2018 Consolidated Income Statement
UNIT : MB H1/17 Common Size H1/18 Common Size % Change Revenue and Services income 614 62% 662 63% +7.8% Revenues from hotel operations 183 18% 207 20% +13% Revenues from F&B 132 13% 131 13%- 1%
- 31%
- 2%
Quarter 2/2018 Consolidated Financial Position
UNIT : MB Year 2017 31 Mar 2018 30 June 2018 Cash & Cash equivalents &Current Investment 5,472 5,455 4,854 Trade and Other receivables 43 45 35 Other Current Assets 75 99 136 Total Current Assets 5,590 5,599 5.025 Investment Properties 3,418 3,743 3,963 Property, Plant and equipment 1,171 1,156 1,152 Intangible Assets 252 247 242 Other non-current Assets 60 72 82 Total Non-current Assets 4,901 5,218 5,438 TOTAL ASSETS 10,491 10,817 10,464 86Quarter 2/2018 Consolidated Financial Position
UNIT : MB Year 2017 31 Mar 2018 30 Jun 2018 Trade and other payables 431 483 477 Current portion of unearned rental income 165 164 165 Short-term deposits of rental income 204 205 206 Other current liabilities 129 176 140 Total current liabilities 929 1,028 988 Unearned rental income, net of current portion 395 356 316 Other non-current liabilities 432 496 584 Total non-current liabilities 827 852 900 TOTAL LIABILITIES 1,756 1,880 1,888 TOTAL SHAREHOLDERS’EQUITY 8,735 8,937 8,576 TOTAL LIABILITIES AND SHAREHOLDERS’EQUITY 10,491 10,817 10,464 87FAQ
88- 1. What are leasable area of Retails both in Phase 1 and Phase 2
- 2. How much for Capital Expenditure on whole Project
- 3. How much for Rental Rate of the retail space at the Market?
- 4. How much income that will be generated from The Market Project Phase 1 if operating full year.
- 5. Please explain about Hotel above M1/M2 bldg. and M3 Bldg
- 6. What is the Capex for project Investment planning during 2018-2023?
- 7. What is the proportion of large/small shops?
- 8. What is the Concept of M3 (Expansion Phase 2)?
- 9. Will pre-operating Expense from Opening the Market in Q4/18 will impact net profit?
- 10. When SG&A Expense for The Market project will be charged?
- 11. The difference of The Platinum Fashion Mall VS The Market Bangkok
Thank You
91