consistent with the economic slowdown and credit tightening of financial institutions after signs of deterioration in loans. In the equity market, the average daily turnover (SET and mai) for 3Q19 increased by

and the common equity Tier 1 ratio of 20.06 percent and the total capital ratio of 23.46 percent which as the solid capital. In addition, the investment partner with CTBC Bank to accommodate the growth

within the set target. In this quarter, our credit cost stood at 1.58 percent, lower than 1.81 percent in the previous quarter and 1.72 percent in the same period of last year. At the same time, our

30 September, 2016 2017 2018 2019 Total Asset Million Baht 93,636.7 99,933.4 107,653.0 121,701.3 Total Liabilities Million Baht 53,114.0 58,874.0 65,804.0 78,126.2 Total Shareholder Equity Million Baht

due to the allowance for doubtful accounts from debtors. However, the Company has improved its operations as details below. 1. Quality customer selection, the Company has revised the credit approval

: million Baht 30-Jun-20 31-Dec-19 Total Assets 25,964 26,400 Total Liabilities 10,049 9,219 Total Equity 6,204 7,014 Minority 9,711 10,168 Gr ou p Gr ou p HR C Gr ou p Management Discussion and Analysis

MASTER AD PUBLIC COMPANY LIMITED 2 13 May 2019 2Q 2020/21 CONSOLIDATED P&L SNAPSHOT *Net profit (loss) attributable to equity owner of the Company Revenue by segments (THB mn) 2Q 2019/20 Restated 1Q 2020

amounted to 131.44 million baht. Most receivables were undue receivables and the unpaid amount did not exceed three months, which was according to a normal credit term for general clients. • Net land

% year-on-year to 116.63 million baht. Most receivables were undue receivables and the unpaid amount did not exceed three months, which was according to a normal credit term for general clients

including the consolidated financial statements of the Company and its subsidiaries for the first quarter ended 31st March 2019. The Company reported consolidated profits (attributable to equity holders of