boost of the export activities, private consumption and tourism sector. However, the net profit margin was lowered from the increase in selling and administrative expenses while gross margin stay flat

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

1 MD&A 3Q 2018 (ended 30 September 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2018 6 NOV 2018 MEDIA INDUSTRY Outdoor media has presently become the go-to choice for advertising. It’s

%, compared to a growth of 1.5% in the previous quarter, according to data from Bank of Thailand and NESDB. This was mainly from contraction of export sector due to sluggish demand in the global market, oil

expected to be growth at an average rate of 8.5-10.0% per year. This growth will be supported by: (i) government policy, focused on promoting investment in the sector through the offering of special

(SES) and the Bang Pa- in - Pak Kret Expressway (Sector C+), toll revenue was closely to the previous year. Cost of service for operation of Expressway business consisted of costs of toll, amortization

sector, exports value for 2018 expanded 6.7% from the same period last year. In the tourism sector, the number of tourist arrivals for 2018 totaled 38.3 million, growth of 7.9% from the same period last

slightly declined from the high base of last year. For export sector, exports value remained stable for Q418 from the same period last year due to the high base effect of last year and also from the trade

which are: 1. Manufacturing: The Company is a contract manufacturing in relation to accessories and faucet products to the industry customer. 2. Trading: The Company has imported the accessories and

exports of gold and arms, exports expanded by 5.1% yoy in line with an improving in trading partner demand. In the tourism sector, the number of tourist arrivals contracted by 99.8% to register at 13,435