, mainly from an increase in the Company’s brokerage fee from securities business and in the retaining fees paid by ONE Asset Management Limited (the Company’s subsidiary). 2.3 Finance costs The Company’s

business strategy and enhance marketing strategy for both domestic and international market to achieve more targeted customers. For the three-month period 2019, Subsidiaries can reduce the cost of sales, by

of 270 million Baht or 9% as compared to 2017. This comprises of (1) gross profit from property business of 1,461 million Baht (24% of total revenue from property business), a decrease of 12 million

MANAGEMENT DISCUSSION & ANALYSIS 1Q 2019 13 MAY 2019 MASTER AD PUBLIC COMPANY LIMITED NATIONWIDE COVERAGE 1 QUARTERLY BUSINESS REVIEW – 1Q 2019 • Consolidated revenue increased by 149.3% to THB 689mn

(net profit margin of 27.0%), an increase of 6.96mb or 9.9%. 1. Revenue Structure Table 2: The break down revenue by business entities. Type of Revenue Jan-Jun 2019 Jan-Jun 2020 Million Baht % Million

. 66 2 654 3323 Baht to King Power MahaNakhon Co., Ltd. (“KPM”). On the same day, the Company and KPM entered into a Business Procurement Agreement, and KPM committed to pay operating costs of the

results  In Q2/2017, the Company and its subsidiary recorded total sales of Baht 1,370 million, a decrease of 21% YoY due to the slowdown in domestic sales and CMG business. However, Branded export sales

network quality and superior customer experience. In 3Q18, we engaged in two key partnerships to strengthen core business as well as to drive our mobile money business. First, we have announced a strategic

QUARTERLY BUSINESS HIGHLIGHTS – 3M 2020 Consolidated revenue decreased by 13.7% YoY to THB 612mn o Advertising revenue increased by 3.1% YoY to THB 270mn o System integration services revenue decreased by

joint venture company between the Company’s overseas subsidiary, Carabao Holdings (Hong Kong) Limited (“CHHK”), and an unrelated party of Singaporean business partner, Intercarabao Private Limited (“ICSG