MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 1 13 May 2019 QUARTERLY BUSINESS HIGHLIGHTS – 2Q 2020/21 MACO’s performance was

1 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD&A 1Q 2018 (ended 31 March 2018) 14 MAY 2018 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS The popularity of outdoor media has continuously

business through BCP Trading Co., Ltd., the company’s performance has improved from a higher transaction volume in terms of product line, and new trade partners. Marketing Business Group has exhibited

business, featuring both house brand and other brand products. To date, the Company has 12 outlets (Phetchaburi, Kanchanaburi, Pattaya, Pak Chong, Sing Buri, Hua Hin, Sriracha, Phra Nakorn Sri Ayutthaya, Hat

content acquisition to support the growth of the business since 2017 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on exchange rate, resulting in a decrease in

, business opportunity, results of operation and financial status of Hello LED on the sign date of the agreements and the closing date. The Hello LED Shares Acquisition Transaction constitutes an acquisition

on assets, liabilities, business opportunity, results of operation and financial status of Hello LED on the sign date of the agreements and the closing date. The Hello LED Shares Acquisition

shareholders’ meeting of the Company shall have approved the entering into the Transaction; and (2) No change has occurred, which causes a material adverse effect on assets, liabilities, business opportunity

, World Class Brand”. Meanwhile, there were no sales to Afghanistan and Yemen in 1Q/2018; however, the Group is expecting the trade partner in Afghanistan to resume business dealing in 2Q/2018. Apart from

considered low especially the government project as the public is still waiting for the national election on 24 March 19. As such, the Company do not foresee 2. Business Outlook on Q1/2019 3 G J Steel Public