upgraded the CPN’s rating and debentures to “AA” with “stable” outlook. As of 30 September 2017, outstanding interest-bearing debts was THB 17,967 mn, comprising of 78% fixed and 22% floating interest rates
short-term investments from fixed deposit of subsidiaries (THB 88 million). • Non-current assets increased by THB 861 million due to an increase in prepaid rental of land and building of Mixed-use project
the Company an interest once every quarter. The interest rate which the Company agreed with JAS to pay is an interest rate at the fixed deposit interest rate of 12 months weighted average of three major
that JAS is required to repay the Company an interest once every quarter. The interest rate which the Company agreed with JAS to pay is an interest rate at the fixed deposit interest rate of 12 months
(%) 11.5% 15.6% Liability to Equity (times) 0.4 0.4 Return on fixed assets5 (%) 87.1% 87.6% Debt to equity (times) 0.0 0.2 Asset turnover (times) 0.6 0.5 8 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2017
assets* (%) 12.2% 8.6% Liability to equity (times) 1.6 0.6 Return on fixed assets* (%) 75.8% 68.5% Debt to equity (times) 1.0 0.4 Assets turnover* (times) 0.5 0.4 Remark: - Financial ratios were calculated
% Restricted fixed deposits 46.18 2.15% 45.98 2.03% Deferred tax assets 19.71 0.92% 21.60 0.95% Other non-current assets 3.72 0.17% 3.83 0.17% Total non-current assets 507.20 23.63% 534.41 23.53% TOTAL ASSETS
) 21 Fixed Costs (130) (3) (130) (3) (149) (3) (19) 15 (20) 15 (522) (3) (555) 3 (33) 6 Stock Gain/(Loss) 49 1 (161) (3) (61) (1) (110) (226) 99 (62) 356 2 (662) 3 (1,018) (286) SG&A (112) (3) (72) (1
activities Cash flow used in investing activities increased Baht 200.36 million compared with the previous year. In 2016, has a lot of investment in fixed assets such as property, building for new office and
due to (1) an increase in cash and cash equivalents of THB 151 million, (2) an increase in short-term investment from fixed deposit of subsidiaries of THB 90 million, and (3) an increase in trade and