international business expansion vehicle for VGI. Strengthening its international footprint is an integral part of MACO’s strategy and VGM will be the flagbearer in expanding its Out-of-Home (“OOH”) media

1.6 percentage growth in airline business. However, during the period, the Company has implemented cost reduction plans including flight management strategy. That was a result of improving of passenger

% Other current assets 10,855 4% - 0% - 0% Total current assets 36,128 13% 22,197 9% 30,164 12% Property, plant and equipment 237,721 85% 231,326 91% 213,427 87% Intangible assets 339 0% 218 0% 89 0% Other

% from 31 December 2018. • Current assets increased by Baht 2,671 million mainly increased of cash and cash equivalents from cash received from sales of property, plant and equipment from the restructuring

/2019 due to the increase in number of pop-up stores and number of available staff, corresponding to the Company’s Pop-up store expansion strategy. 2020 vs 201912MQ4/2020 vs Q4/2019YoY Revenue Q4/19 Q4/20

mentioned acquisition of shares of Modern Pharma Company Limited is a transaction that is appropriate and beneficial to the Company due to its current direction and strategy is aiming to grow fast and

accounts receivable of Baht 95.56 million, increase in cash and cash in bank of Baht 13.26 million and increase in other current assets and other non-current assets of Baht 2.46 million but there were

year, the net profit of the Corporate Group increased by 1.56 percent. This was due to expansion of distribution channels and use of business strategy, namely “Complete Set of Beauty, Entirely Filled

and providers of real estate services. The main focus is put on the quality of life of residents managed with “Livable Community” strategy. In 2020, the operational guideline of the Company has been

. Such promotion strategy resulted in a continuous growth in revenue form program right of the Company. - Translation - JKN GLOBAL MEDIA PUBLIC COMPANY LIMITED Management Discussion and Analysis of the