operating activities 1,788 Net cash flows investing activities (2,101) Net cash flows financing activities 623 Net increase in cash and cash equivalents 310 Cash and cash equivalents at beginning of period

year 2018, basically from the net profit of Q1/2019. 8. LIQUIDITY ANALYSIS AND FUNDING ADIQUACY In Q1/2019, the company had beginning cash and cash equivalents of 578.21 million Baht, whereby during the

factory (SGA2), work in progress of beverage manufacturing facilities in Myanmar and new talcum plant. 4,486 3,840 1,039 (910) (775) Beginning cash and cash equivalents (31 Dec 2018) Net cash from operating

(decrease) in cash and cash equivalents 5 326 -99% Cash and cash equivalents at beginning of periods 122 100 +22% Cash and cash equivalents at end of periods 127 426 -70% Page 6 In Q1/2019, the Company and

increase (decrease) in cash and cash equivalents 5 326 -99% Cash and cash equivalents at beginning of periods 122 100 +22% Cash and cash equivalents at end of periods 127 426 -70% Page 6 In Q1/2019, the

has risen since the beginning of this year, there is loss on exchange rate for this period. Expenses Selling and service Expenses Baht Million 2018 2019 +/(-) +/(-) % Expense from Event 10.03 2.68 (7.35

flows from (used in) financing activities (38,053) 62,502 (62,774) 151,922 Net decrease in cash and cash equivalents (16,584) (26,000) (14,849) (31,224) Cash and cash equivalents at beginning of the

million baht due to being in the beginning and expanding period. Expenses of GWM increased from the same period of last year by 3.37 million baht and expenses of NCL Singapore subsidiary increased by 1.92

of THB 44mn and dividends paid of THB 11mn. TWELVE-MONTH CASH FLOW SNAPSHOT 195 180 58 55 263 Beginning cash (31-Dec-17) CFO CFI CFF Ending cash (31-Mar-18) 6 MASTER AD PLC MANAGEMENT DISCUSSION

, the company had beginning cash and cash equivalents of 37.48 million Baht, whereby during the financial period, net cash was increased by 78.10 million Baht. This comprised of the following items: 1