fruition and helped Golden Lime to record sales in Q1 2018. The steel industry continued to expand at the start of 2018 as infrastructure and auto demand remained strong. Further volume increase is

the economy using significant quantities of lime are also showing remarkable growth. The steel industry continued to expand more than 10% year on year. In the construction sector the use of autoclaved

although slightly lower than the record breaking 2017/18. The steel industry grew an impressive 10% so far in 2018 and while this type of growth is unlikely to be sustained the size of the market now means

of a possible recurrence of the outbreak in Thailand, have led to severe restrictions on inbound and outbound travel. This has resulted in a massive contraction of the tourism industry, as well as the

and THB 2,752 Million during the last 6 months. Apart from debt reduction, the cash injection from rights issue is enabling the Company to take up several critical Capex for operational improvements and

return and suitable for the industry, while 3rd party product for distribution amount to THB 234 million, up by THB 29 million or 14% due to greater variety of products. The Group modernize the “Carabao

hospitality industry, which directly impacted to DTC’s business and performance in 2Q20. DTC recorded a net loss of THB 453 million in 2Q20, compared to net loss of THB 22 million in 2Q19. The loss was driven

Budget Act and drought. Furthermore, domestic spending may be limited due to weakening purchasing power and hefty household debt. Apart from economic woes, businesses face numerous other challenges that

awards we received in this quarter. B Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in the First Quarter of 2019 1 1.2 Banking Industry and

1 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2017 MD&A FY 2017 (ended 31 December 2017) 12 FEB 2018 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Thailand’s economic recovery remained on track and