MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 7 AUGUST 2019 MASTER AD PUBLIC COMPANY LIMITED NATIONWIDE COVERAGE 1 QUARTERLY BUSINESS REVIEW – 2Q 2019 Consolidated revenue increased by 161.5% YoY to THB
from LT borrowings 3,000 Finance cost and financial lease paid 1,930 Cash decrease 2,403 Repayment of LT borrowings 2,858 Investment in joint venture and others 792 Cash paid for business acquisition
., Nongeiroon, Banbueng, Chonburi, Thailand 20220 Tel. 038-160707 Fax. 033-047348 www.ndrubber.co.th No. NDR003/2020 27 February 2020 Subject: Management Discussion and Analysis (MD&A) Report for Business
than 35 percent of the seaweed production in China for the year 2017 which impact to all seaweed business around the world. In addition, the first two phase of production line at Rojana factory has been
) Benefit to the Company : To increase business channel for the group companies, to use scrap material from production process of the subsidiaries to be raw material in electricity production which can
600 Million Baht - 5 - 7) Benefit to the Company : To increase business channel for the group companies, to use scrap material from production process of the subsidiaries to be raw material in
implemented beginning of 2020. In addition, there was an increase in the number of employees aligning with business expansion which accounted for total amount of 0.97 million baht, increase in doubtful expenses
capital of the Company with Department of Business Development, Ministry of Commerce, including the listing of new ordinary shares in the Stock Exchange of Thailand, and submission of information or
from gain on sales of investments in BDMS during the period which was amounting of 1,738.2 million baht. Nevertheless, the operating revenue of airline business slightly declined by 1.1 percent from