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

to lower contribution from GHECO-One. Other Income 2018 2019 Increase/ (Decrease) THB mm THB mm % Dividend and Management income 399.6 540.7 35.3% Others 309.0 436.4 41.2% Total other income 708.6

the depreciation. As at June 30, 2020, total liabilities were Bt2,184.00mn, slightly dropped comparing to the same period of last year, as a result of the dividend payment of Bt263.00mn, while interest

days shutdown in the same period of last year. Other Income Q1 2019 Q1 2020 Increase/ (Decrease) THB mm THB mm % Dividend and management income 68.7 81.5 18.5% Others 46.1 264.2 473.4% Total other income

investments in available-for-sale securities and dividend payment in May 2020. Cash Flows As at September 30, 2020, the Company and its subsidiaries had cash and cash equivalents amounting to Baht 2,283 Million