as welding wire for galvanized steel and galvanized paint. The aim is to build strong growth and sustainable returns by practicing good governance along with developing the society, community, and

to accept the right under the Strategic Partnership Agreement between the Company and Hemaraj Land and Development Public Company Limited (“Hemaraj”) to conduct the business of distribution and retail

expansion for growth in Southeast Asia. We successfully converted static billboards into digital billboards, which now cover 32 provinces in Thailand. This effort is expected to enhance our returns, generate

the same period of previous year. The main reason was due to the asset monetization to WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust (WHART) and HREIT in the late 2017 and the

acquisition of Outrigger hotels and gain on exchange rate. Significant Events 1. Development of EYSE 43 - On August 22, 2018, the Company entered into JV Agreement in partnership collaboration with Daiwa House

not want to invest for a long term for the development of public utility because the company is required to use the proceeds from the sale of shares to the investment and development of industrial

convenient in delivery. The company plan to have a new product in company’s existing market such as conduit market. The company has increased electricity’s accessories and level up development of the product

capture growth and bolster our leadership in OOH media business in overseas markets. BUSINESS OVERVIEW AFTER THE RESTRUCTURING MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 7 AUGUST 2019 MASTER AD PUBLIC COMPANY

research and development – R&D) in Q1’20 keep close to Q4’19 and Q1’19 contribute from the squeezed of Admin and Selling expenses together with the boost up of R&D workforce especially in Europe in order to

IPO approval from the SEC.  Vorapol Socatiyanurak, SEC Secretary-General said that for Thailand to strive forward and compete internationally, development must be driven nationwide. The SEC thus