power to make decisions on the company’s operation on behalf of the board of directors; “Register of Persons Qualified to be Fund Manager” means the register of persons who are approved by the Office of

register of persons who are approved by the Office of the Securities and Exchange Commission as qualified to be appointed as fund manager; “Person with Power of Management” means managing director, deputy

will not change its Board of Directors. The group companies continue to be operated by current Board of Directors and Management. 2. The Board of Directors approved the appointment of Silom Advisory

or 6.54% YoY, which was the impact from the new Labor Protection Act and the Company’s Voluntary Retirement project as well. 4. This year, the company did not receive dividend from the affiliates

the delay in the budget year 2020, which makes public investment "negative", as well as the drought problem, Thai Baht appreciation, the impact of the US trade war with China and Epidemic problems

Lapin” Source of Fund Working Capital which will not impact on liquidity and cash   2 flow of the Company Expected Benefit 1. To expand Business Opportunity in retail business 2. To earn an investment

March 2016, the total revenue decline. The impact of the bankruptcy of Hanjin Shipping Containers Line made of many containers which was leased by Hanjin Shipping also cannot be brought back to the cargo

1 MD&A 3Q 2017 (Ended 30 September 2017) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2017 20 OCT 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS The popularity of outdoor media has

%, mainly caused due to revenue from domestic transport by land has been transferred to be operated under the association company since March 2016, the total revenue is decreased. The impact of the bankruptcy

year 2016. The decreased sales revenue was mainly impact by the continued global economic downturn therefore overall reduced consumption in all as compared to previous year. 2. Cost of sales For the