1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media

unsecured debentures with bondholder representative total value of THB 1,005.0mn, interest rate 5.50% p.a., 3 years, quarterly interest payment, and having maturing date on 1 August 2022.  August Launched

with bondholder representative, total value of THB 194.0mn, interest rate 5.25% p.a., quarterly payment, 2 years, having maturing date on 4 December 2021.   2) open a new branch of Dink Dink noodle store

17,160 Year 8-10 14,400 18,720 Contract term of 10 years or until the budget is used up, whichever occurs first. 5.2 Sales of water project to the Provincial Waterworks Authority, Project 2 Time Period

of US$37.5 million (or equivalent to Baht 1,350 million) with maturity of 5 years. 3. Acknowledged that AAPICO Investment Pte. Ltd., a 100% subsidiary of AAPICO Hitech Public Company Limited in

of US$37.5 million (or equivalent to Baht 1,350 million) with maturity of 5 years. Due to uncertainty of the acquisition transaction after the Meeting on May 22, 2017, the Company therefore discloses

financial status and evaluate the assets of Hero Experience. Sims based its evaluation on the Discounted Cash Flow Approach, assuming that the business has been operating for 9 years, which is the duration

and evaluate the assets of Hero Experience. Sims based its evaluation on the Discounted Cash Flow Approach, assuming that the business has been operating for 9 years on the area of 12,935 Square Meter

expiration during 2016-2025 to build new power plants under another 25-year period of PPA while those with the PPA expiration by 2021 is eligible PPA extension for up to 3 years while the new power plants are

acquisition of assets in make a long-term 19 years leasehold building transaction in People Park Community Mall, E2 Building (3-Storey Home Office Building) and total rental area is 1,359.12 square meter