branch, dividend payment to shareholders and long term loans and interest repayment. 6 Key Financial Ratio Analysis For the period ended 30 September 2019 For the year ended 31 December 2018 Change Reason

No: AH 03052021 May 17, 2021 Subject: Management Discussion & Analysis (MD&A) for the financial statements of the 1st quarter of fiscal year 2021 ended as of March 31, 2021 To: The President The Stock

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Microsoft Word - SHR MDA YE19_EN 20200226 vf Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page

The first quarter of 2017/18 (ended 30 June 2017) 1 VGi GLOBAL MEDIA PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2017/18 2 AUG 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Advertising spending

Equity Coverage Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) 1 of 10 Performance Overview Growth continued both revenue and net profits, attributed to efficient

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AND ANALYSIS FOR Q3/2017 6 Note: According to the debentures and long-term loan agreements, the company was required to maintain its D/E ratio of not higher than 2 .0 times. For the long-term loan

176mn, dividends paid of THB 123mn, and a repayment of long-term loan from financial institution and finance lease of THB 13mn. 7 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2017 MD&A FY 2017 (ended 31

in securities for investors. There are two categories of investor contact s which are category A investor contact who is allowed to conduct an analysis on the value or suitability of the purchase or