driven by advertising income from a large mobile phone operator in 2017 but the Company only had income from small and medium businesses in 1Q18. However, new income will be recognized in 2Q18 – 4Q18. The

were 2.4% (y-o-y) and 1.7%(y-o-y) respectively with consequences to the growth of tourism industry of Thailand. During the passengers who travel through BKK and DMK were 79.3 million passengers

headcount. This will help not only strengthen our core platform but also ensure sustainable long-term growth. In addition, the Company set aside additional provisions for employee retirement benefits in the

598.69 Water management business group (Only amount to be recognized in year 2020) - Sales and service of water supply 175.98 144.22 - Installation of water production systems and construction of turnkey

Company had only gain on sale of some shares in TTW Public Company Limited (TTW) in the year 2019. As the sale of some CKP’s shares and TTW’s shares, the Company had a gain on reclassification of investment

portions from the 1st Loan Portion, the Company may only utilize such loan portions for the following purposes and as specified in the Credit Agreement. 2. The second portion of the loan is in the amount of

application. The Company expects the application in full version will be available for download in August 2017. The development of the application will not stop at only the live broadcast of individual groups

subsid lion baht mo t. And for th the same pe revenues wa ease of 19.1 778.2 million tegies in mo h Life Time only mobile 017. This cau 2017 was 4 collection an remarkably bt purchased tion revenue Page 2

days in advance. The company had expenses related to new recruits for new three branches and one branch expansion in the first half of 2017. In contrast, the Company opened only two branches of Maygori

1 MD&A 3Q 2017 (Ended 30 September 2017) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2017 20 OCT 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS The popularity of outdoor media has