observed a growth in subsidiary business especially in distress debt management and mobile phone distributor. The details of the Company’s performance are explained as follows: 2016 2017 Change MB % MB % MB

the street, in office buildings and in shopping malls. These changes have resulted in the significant growth of outdoor and online advertising and the decline of traditional media, as brands and clients

Post Shareholding Structure MALAYSIA – LAYING THE FOUNDATION FOR GROWTH IN MALAYSIAN MARKET  In 3Q 2019, MACO, through VGI Global Media (Malaysia) Sdn. Bhd. (“VGM”) successfully acquired additional 40.0

revised to be in accordance with the real estate business slowdown, particularly in the residential condominium section. Single house projects and real estate service business are developed to expand the

2019 until March 2020 of domestic RTD fruit juice market was Baht 10,979 million, a decrease of 6% YoY. RTD fruit juice market value and growth is as shown in Figure 2. (Source: Nielsen) Figure 2: MAT

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

operations and / or expand the business and / or the Company's working capital or for other purposes as the Board of Directors deems appropriate. Type All types of debentures and forms whether the type that

economy continued to expand. The main growth drivers were continued expansions in merchandise exports which expanded in various product categories and export destinations, and the swift recovery in tourism

strong across-the-board growth. The business sector remained challenged by new modes of competition amid the advancing digital age and the rapid pace of technological advancement, together with the

Economic Outlook of the International Monetary Fund for October 2019 cut this year’s global economic growth projection to 3.0 percent from the previous forecast of 3.2 percent. The figure is the lowest