global trade volume affected by trade tensions and the impact of structural changes in the Thai economy on export sector. Public expenditure and private investment would expand slower than the previous

the last quarter of 2017 continuously grew from previous quarter supported by a pick-up in exports, blooming tourism and private consumption as well as a jump in manufacturing. Overall, the economy will

Company reported total revenue of 2,196.95 million baht (1Q2019: 2,105.75 million baht), an increase in a lower rate comparing to the same period of last year in the amount of 91.20 million baht or 4.33

in the previous year. The Company would like to clarify the reasons for the change in profits for 2018 compared to the previous year, as follows: 1. Revenue In 2018, the Company had total revenues, as

. Ended May 31, 2017, audited by auditors. The details are as follows 1. The Company's total revenue is Baht 1,145. 18 million, a decrease of Baht 80 . 8 2 million or 6. 59% from the same period of last

comparing with the same period last year which had net loss of Baht 88.39 million, improving by Baht 42.77 million or 48%:- 1. Total revenue decreased by Baht 29.97 million or 54% mainly from:  Fee and

0.43 million comparing with the same period last year which had net loss of Baht 68.76 million, improving by Baht 69.19 million or 101%:- 1. Total revenue of Baht 27.43 million, decreasing by Baht 13.68

hit merchandise exports, and domestic demand. Private consumption indicators indicated the slower expansion in most sectors. Manufacturing production and private investment contracted. Nevertheless

comprises of: (1) revenue from sales of residential condominium units of 6,115 million Baht (69% of total revenue), an increase of 191 million or 3% as compared to 2017 (2) revenue from Food and Beverages of

MANAGEMENT DISCUSSION & ANALYSIS 3Q 2019 6 NOV 2019 MASTER AD PUBLIC COMPANY LIMITED 1 13 May 2019 QUARTERLY BUSINESS REVIEW – 3Q 2019  Consolidated revenue increased by 54.0% YoY to THB 748mn o