rate was 9.6. This is because in Q3-2023, the Company had a significantly lower gross profit margin than Q3-2022, net of reserves recorded in Q3-2022. The Company recorded an allowance for expected

volume of the Group. For the income proportion separating by business structure consisted of Aviation refueling services at 80% and Fuel pipeline transportation services at 20% respectively. 1.1.2 Others

% Total Revenue 293.33 305.19 -11.86 -3.89% 288.96 302.33 - 13.36 -4.42% Sharing of gain (loss) from investment value of the associate and joint venture 3.54 -0.53 4.07 N.A. In the furniture business, the

shall be incurred but not exceeding Baht 100,000 per company. However, the approved remuneration does not include other out-of-pocket expenses such as expenses for business trips in upcountry provinces

320.85 Million Baht or 180.58 percent in comparison with the same quarter of 2019. The higher revenue was attributed from subsidiary company called Advance Prefab Company Limited. The main business of the

MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 1 13 May 2019 QUARTERLY BUSINESS HIGHLIGHTS – 2Q 2020/21 MACO’s performance was

transactions are considered as a type 2 transaction having a value of more than 15 percent but lower than 50 percent in accordance with the Notification of the Capital Market Supervisory Board No. Tor Jor. 20

Shipment volumes for this year were lower as compared to last year due to due to termination of Tolling activities since February 2019. GJS บริษัท จ ีเจ สตีล จํากดั (มหาชน) G J Steel Public Company Limited

through their approval process and list our products to the shelves based on their conditions. Therefore, ICUK’s business plans aim to entail further penetrations in more modern trades, careful allocation

Assets” ) with the transaction size of 30.24% of net profit of the Company’ s consolidated financial statements as of 30 September 2017. The transaction size is higher than 15% threshold criteria but lower