subsidiaries had net cash used in operating activities of THB 1,421 million, net cash used in investing activities of THB 3,887 million, and net cash received from financing activities of THB 1,708 million. As a

million, net cash used in investing activities of THB 3,313 million, and net cash used from financing activities of THB 295 million. As a result, net cash and cash equivalents decreased by THB 3,260 million

the financing cost of the Lender. Therefore, it is reasonable to increase the efficiency of capital management and reduce financial costs; including the risk of non- payment according to the transaction

ทำคำเสนอซื้อหุ้นบางส่วน (partial tender offer) ตามหมวด 5 (4) การทำคำเสนอซื้อเพ่ือเพิกถอนหุ้นออกจากการเป็นหลักทรัพย์จดทะเบียน ในตลาดหลักทรัพย์ตามหมวด 6 หมวด 1 กรณีท่ีต้องทำคำเสนอซื้อหลักทรัพย์ทั้งหมดของ

;tender offer)  (3)  การทำคำเสนอซื้อหุ้นบางส่วน (partial tender offer) ตามหมวด 5  (4)  การทำคำเสนอซื้อเพื่อเพิกถอนหุ้น

million Baht. This comprised of financing costs of 976 million Baht and capitalized interest of 482 million Baht. The rise in the costs was due to increased loans funding the construction of “MahaSamutr

Flow spent for financing activities of THB 20 million , which was from long-term loan interest payment. Key Financial Ratios Exhibit 9 : Key Financial Ratio comparison of 1Q2018 vs. 1Q2017 vs. 4Q2017

239mn 2) cash paid for acquisition of equipment THB 139mn from media inventory expansion and 3) cash paid for short- term loans of VGM to TCSB and MUSB of THB 124mn. Net cash from financing activities was

of Baht 88 million. However, the company gained dividend income from affiliates of Baht 696 million and net cash flow from other investing activities of Baht 72 million. • Net cash used in financing

MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR 2018 7 8. LIQUIDITY ANALYSIS AND FUNDING ADIQUACY (Cont.) 3) Net cash used in Financing Activities amounting to 974.11 million