freight services to revenue of 209.53% increase from the 2nd quarter of 2018 of 99.25% by 110.27. Due to the reduced income, unable to the allocation of fixed costs. Selling Expenses In 2nd quarter of 2019

, increased by 1.67 million baht from the same period of last year. The increased mainly came from loss on fixed assets sold in the amount of 1.00 million baht. There were also an increased from other expenses

due to last year the subsidiary company had loans with financial institution in the amount of Baht 10 million with fixed interest rate at 4.75 percent per year and brought forward to increase in current

Equity (times) 0.4 0.3 Return on fixed assets5 (%) 62.4% 79.4% Debt to equity (times) 0.0 0.1 Asset turnover (times) 0.4 0.6 7 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD&A 1Q 2018 (ended 31

10 years and a maturity date in 2028, and bear a fixed interest rate of 4.50 percent per annum. Payment under the notes is guaranteed by the Company. The net proceeds from the issue of the new notes

fixed assets5 (%) 65.7% 66.7% Debt to equity (times) 0.4 0.0 Asset turnover (times) 0.6 0.5

capacity to be in line with a slowdown in inventory turnover from sales revenue setbacks. This reduction in production capacity is expected to affect fixed cost allocation and marginally increase production

and 2017, the Group Company’s revenues from services and rental represent fixed income generated from long-term contracts with customers operating solar power plant projects in Thailand, amounting to

เสนอขายแพก็เกจใชง้านไมจ่ ากดัดว้ยความเรว็คงที ่ (Fixed-Speed Unlimited) ใหก้ลุ่มลูกคา้ระบบรายเดอืน ส่งผลใหก้ารเพิม่รายไดจ้ากการใชง้านดาตา้ของลูกคา้ดขีึน้ ส าหรบัตลาดระบบเตมิเงนิ (prepaid) สภาพการ แขง่

% Payable days (days) 162 140 Efficiency Ratios Leverage Ratios Return on assets4 (%) 12.0% 6.5% Liability to Equity (times) 0.4 0.7 Return on fixed assets5 (%) 66.7% 36.6% Debt to equity (times) 0.1 0.2