150,000 ridership per day. • In this quarter, MACO has installed 42 additional digital screens at Kuala Lumpur International Airport Terminal 1 and 2. These screens are well-positioned to capture more than

allocate more of their advertising budget towards the out-of-home sector, in order to benefit from and keep abreast of these trends. Master Ad Public Company Limited (“MACO”) is well-positioned to benefit

referenced crude oil price of every products; stemming from a state of excess supplies of finished products in the market, and declining demand from the 4 Management Discussion and Analysis of Business

Q1-2017 (THB 18,695/ton) due to the decrease in HRC market price worldwide and a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. Management’s Discussion

renovation of three hotels under Dusit Thani brand, and caused by a temporarily weaker demand from catering and convention during the mourning period and the royal funeral of King Bhumibol Adulyadej. Earnings

a rebound in demand of enterprise customers from a clearer political situation and a sizable project closed in the quarter. The strategy for the enterprise segment continues focusing on high-margin

and lorry tanks, chemical tanks, machinery parts, steel structure). With its growing demand for LPG and the up and coming expansion of LPG storage and receiving terminals, it is expected that the LPG

farmers to tax relief. The main lime consuming sectors of the industry had limited impact from Covid-19 in Q1 by the macro economy. However, the forecasts are for a drop in demand in the coming quarters as

clients and orders due to higher demand for cars and new businesses from closure of financially challenged competitors due to Covid-19. 2) Dealership business; Stronger sales of both dealerships in Thailand

and orders increase due to higher demand for cars. Thailand and China operations were strong, grew 29.2% and 48.1% year-on-year respectively and outperformed the industry. 2) Car Dealerships and