other payable 12,211 10,480 16.5 Others 2,588 2,835 (8.7) Total Liabilities 14,799 13,544 9.3 Total Shareholders’ equity 31,994 32,473 (1.5) Total Liabilities and shareholders’ equity 46,793 46,017 1.7

loans 0 229 (100) Trade and other payable 12,899 10,480 23.1 Others 2,438 2,835 (14.0) Total Liabilities 15,337 13,544 13.2 Total Shareholders’ equity 33,177 32,474 2.2 Total Liabilities and shareholders

Yai and Chachoengsao branch). The Company plans to open Rayong branch, the 11st branches in the last quarter of year 2018. Industry Overview Domestic purchasing power has been under pressure due to the

1 MD&A 2Q 2017 (Ended 30 June 2017) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2017 1 AUG 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Advertising spending reported a decline of 1.4% QoQ

Liabilities 18,566 21,747 Total Equity 13,341 10,868 Average selling price of hot-rolled coil for the 3rd quarter in 2017 increase around 15.27% comparing with the same period last year together with the well

1 MD&A 3Q 2018 (ended 30 September 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2018 6 NOV 2018 MEDIA INDUSTRY Outdoor media has presently become the go-to choice for advertising. It’s

within December 2017. Industry Overview In term of the retail industry in 3Q17, there has been constant low growth from the previous quarter due to the weakness in buying power especially for low-income

and Analysis For the Operating Results ended March 31, 2020 From the Coronavirus disease (COVID-19) Pandemic, affecting the tourism industry and the aviation industry of the world, resulting in an

the laws of Singapore, with 100 percent of its equity held indirectly by the Company ("Purchaser"). The Purchaser will invest in real estate project relating to hotels and resorts which comprises 6

further acquire the remaining 26% equity stake in PT. Indorama Petrochemicals (“PTIP”), a PTA manufacturing plant in Indonesia from PT. Indo-Rama Synthetics Tbk., a connected party. Rationale of the