advantage of additional market opportunities which arose due to operational issues at some of our competitors. This was in addition to the “fix the basics” technical upgrade program which resulted in full

in the market. As a result, the Company’s cost of raw materials cannot adjust to the market price continuously decline in time. Even though, the government has imposed the urgent measures to absorb

. Excluding the consolidation of our Outdoor and Digital Services business, our revenue improved organically by 19.8% against a backdrop of double digit decline in overall advertising spending. Despite the

increased by 59.83 million Baht or 371.15%. Net loss increased due to cost of sale increased by 16.77% from previous year, the Company realized its stock loss of 23.40 million Baht from the recording NRV on

to the same period of the previous year. The main reasons was the weaken sales due to the impact of trade wars that have the broad impact on global supply chain and through Thailand's exports. As such

, decreasing -1.1% YoY and -4.1% QoQ following a recovery in core service revenue offset by lower device sales due to seasonal factors. Core service revenue (excluding IC and NT partnership) was at Bt33,903mn

sales increased by 317.1% from THB 103mn in 2Q 2018 to THB 429mn. This was mainly due to the aforementioned consolidation. Trans.Ad Group’s cost structure is characteristically higher than MACO’s core

tightening of financial institutions in loans approvals due to the deteriorations in asset quality. Private investment contracted in the investment in construction from the decline in permitted construction

financial institutions in loans approvals due to the deteriorations in asset quality. Private investment contracted in the investment in construction from the decline in permitted construction area and also

e | 4 - In 4Q19, revenue from owned hotel in Thailand was decreased by 32.8% yoy while by 31.8% yoy for the FY2019. The decrease was due to the closure of Dusit Thani Hotel Bangkok, a partial