Minor International Public Company Limited WT EXP 073123 (MINRF) Analyst/Investor Day Transcript

Emmanuel Jude Dillipraj Rajakarier
Group CEO, COO & Director

Good afternoon, everyone, and thank you for joining us today for the update for quarter 3. We, at Minor, of course, very much appreciate your interest and taking the time to join us here today, whether you’re joining us here in person or whether you’re dialing in today overseas. So a very warm welcome. Before I actually dive into the details, let me start — let me also start by just giving some overview about the global markets and what’s happening today.

I’m sure most of you — yes. I’m sure most of you are very familiar as to what’s happening in the markets today. But just to give you an idea, of course, being here in the home market in Thailand, in spite of a lot of the challenges we faced in Q1, in Q2 and continue to face in Q3, like in Q1, we had the China — the problems with the abduction and the kidnappings and then we had the earthquake. We had the political instability and then recently, the Thailand-Cambodia war hasn’t really helped us here in the Thai economy, as everyone knows. Globally, we’ve seen the crisis in the Middle East with the escalation of the war and some of the airports being shut down, which has also affected tourism to a great extent. We’ve also seen the global markets actually taking a bit of a stumble in terms of some of the — what’s happening in Europe, in the U.S. with the trade war, the taxes and some of the other challenges they are facing. And also, of course, the Russian-Ukraine conflict, which has also increased some of our cost prices within the hotels and the food industry as well.