the other Smart Boonterm kiosk, Boonterm Post, the Company has developed cooperation with the logistic company and expect to launch it in the market next year. At the end of this year, the electric

amount going to reduce by portion of next milestone’s payment follow by contract. However, Service income received in advance and Advance received from construction contracts were reduced by total of Baht

units equals to 1.57 billion Baht. The Company aims to develop and transfer the remaining units within the next 1-2 years. Moreover, it is in the interest of The Company in pursuing with property

attendant growth in demand for advertising. By making use of the long experience and strong knowledge of the Company, we believe that MACO is well positioned to enter into the next round of accelerated growth

1.78 times in 2017 due to the reduction of the account payables which was lower than the reduction of the shareholder equity to be mentioned in the next item. Shareholders’ Equity As ended June 30, 2018

launch Electronics Know Your Customer (e-KYC) service for next year. As a result, the revenue structure of the Company is more diversified. Furthermore, the Company plans to expand the customer bases from

value of the projects after deducting the value recognized of over than 1.7 Billion Baht. The Company is aiming to sell and develop the projects as planned in the next 1 – 2 year later. In addition, the

profit being generated in this quarter. The media is now fully booked until the first quarter of next year. MANAGEMENT DISCUSSION & ANALYSIS 3Q 2019 6 NOV 2019 MASTER AD PUBLIC COMPANY LIMITED 2 13 May

develop and transfer the remaining units within the next 1-2 years. Moreover, it is in the interest of The Company in pursuing with property development projects that aligns to the cash flow of The Company

by THB 41mm (73%) from the undertaking of larger and longer-duration project size of which majority of the increase is from contract asset which most of the payment term is for the next quarter Cash