period of Baht 414 million and proceed from non-controlling interests of the subsidiary from increase capital of the subsidiary of Baht 54 million. On the other hand, the decline is due to dividend paid to

. Return on Equity and Return on Asset are 20.8% and 4.2%, respectively. In addition, the Board of Directors’ meeting has approved the final dividend payment for the fiscal year ended February 28, 2019, at

is merely accounting impact, not related to cashflow from operation. Other Income Q1 2018 Q1 2019 Increase/(Decrease) THB mm THB mm THB mm % Dividend and Management income 48.1 68.7 20.6 42.9% Others

during the period were from the net profit amounting to Baht 200.70 million and dividend payment of Baht - 218.92 million. Therefore, portions of company shareholding interest and non-controlling interest

amounted to Baht 604.9 million and decreased from the prior year at Baht 11.8 million which derived from Q2/2019’s profit for the period of the Group at Baht 40.2 million and interim dividend payment at Baht

Billboard category. Volvo Lightening-powered billboard 3 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD&A 1Q 2018 (ended 31 March 2018) 14 MAY 2018 DIVIDEND PAYMENTS - On 25 April 2018, the

million, or a decrease of 6% compared to the total shareholders’ equity as at 31 December 2017, which was Baht 2,720 million. The change was due to the net profit for the period, the dividend payment to the

were from the net profit amounting to Baht 56.90 million and dividend payment of Baht -26.40 million. Therefore, portions of company shareholding interest and non-controlling interest of subsidiary stood

at 31 December 2017, which was Baht 2,720 million. The change was due to the net profit for the period, the dividend payment to the shareholders and the share repurchase of the subsidiary. The

higher than VWAP but still lower than the book value per share of MK. 7. Expected Benefits to the Company The Company will have opportunities to receive capital gain and dividend at the appropriate rate