13.5% to THB 44mn • Dividend payment of 0.02 per share to be paid on 17 May 2019 KEY BUSINESS UPDATE THAILAND • MACO has completed the digital installation of its street furniture media at 23 BTS

MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 31 MARCH 2018 SG&A expense against only 1.5mTHB consolidated EBITDA contribution, since the acquisition was completed only at the very end of the quarter

generated total revenues of 1,093 million Baht; or decreasing by 49% as compared to the total revenues in Q3 2017 of 2,132 million Baht. This was mainly due to the increase in revenue from sales of the

268 million, an increase of 14% YoY. Selling expenses to sales increased to 22.2% from 15.7% in Q3/2017, mainly due to multiple new products launch, e.g. Carbonated Fizza Salty Lemon, HPP (High Pressure

by Certified Public Accountant as follows: 1. Total revenues were Baht 1,108.92 million, an increase of Baht 691.90 million or 165.92% from the same period of last year. This was due to the following

21.46% or Baht 6,286.14 million from last year. The revenue dropped because Jira-Khon Kaen Double-Track Railway Project and Xayaburi Hydroelectric Power Project have been completed and now in maintenance

management and development of a mine in Canada.Additionally, the Board approved a purpose-specific capital increase through issuance and RO of ordinary shares with a par value of 0.50 baht per share at an

. Information Memorandum regarding the offering of the newly issued ordinary shares to specific investors (Private Placement) 3. Capital Increase Report Form (F53 N.D. Rubber Public Company Limited (“ No.5/2017

Analysis (MD&A) 2019 Page 3/8 profit equal to 67 million Baht. It was due to a result of the strict credit control by the Company, causing an increase in revenue from collecting (Bad Debt Recovery

2019. The PDP 2018 focuses on the use of natural gas as primary fuel for power generation as well as the increase proportion in renewable energy, especially household solar rooftops. In addition