within the 4th quarter of 2018. VGM is a holding company investing in media companies in the mass transit, airports, cinemas, highways, major supermarkets and office buildings advertising segments. The

Company Limited entered into the MRT Blue Line Concession Agreement with the Mass Rapid Transit Authority of Thailand (the “MRTA”) on March 31, 2017 for the concession period of 33 years. The MRT Blue Line

climbing to 1. 7mn. The mobile money platform under a joint venture, Rabbit LINE Pay, expanded its payment coverage to the sky train mass transit and grew monthly active users to 850,000. The enterprise

SNAPSHOT & ANALYSIS CONSOLIDATED P&L SNAPSHOT THB (mn) 1Q 2017/18 4Q 2017/18 1Q 2018/19 QoQ (%) YoY (%) Operating revenue 852 1,128 1,077 -4.6% 26.5% Cost of sales 356 406 392 -3.5% 10.1% Gross profit 496

Agency (ARENA) for AUD 9.50 million. The Project is developed on the area of the already closed coal mine at the north of Queensland, Australia. The Project Cost is approximately AUD 95 million. The

74.30 4.68 6.30% Finance Cost 8.96 15.49 (6.53) (42.17%) 19.95 26.16 (6.21) (23.74% ) EBT 28.13 7.16 20.97 292.73% 101.48 96.19 5.29 5.50% Tax (7.06) 0.08 (7.14) (9,021.87%) (20.28) (22.04) 1.76 (7.98

(8.93) (21.55%) 111.48 115.72 (4.24) (3.36%) Finance Cost 9.28 14.56 (5.28) (36.24%) 29.23 40.72 (11.49) (28.21%) EBT 3.20 35.63 (32.43) (91.01%) 104.68 131.82 (27.14) (20.59%) Tax (0.62) (6.10) (5.48

success factors of this business depend on the inventory management, the logistic systems that meet the clients’ needs in time, cost of capital, receivables management and sales revenue. Due to this

main driver in increasing the cost-to-sales ratio from 53.1% to 64.4% in this year. VGM’s cost structure is higher than MACO’s domestic business due to higher expenses from concession in Transit and

Particleboard have decreased by 5% and 17% respectively. 2. Cost of sales Baht 8,691.0 million, decreased of Baht 652.7 million, due to decreased sales volume. Financial status Total assets As of 31 December 2018