from the disruptive furniture model of ‘Younique Customized Furniture 4.0’ since the launch in late 2017, the Company continued to expand Younique in Index Living Mall store with 3 new openings in Q3

level of 1.25 percent while projecting the Thai economy would expand at a lower rate than previously forecast and further below its potential due to declining exports which have affected domestic demand

of the Company as well as UAPC in order to expand business in the future, it will enable UAPC to raise funds in the capital market and increase the investment value in UAPC by reflecting actual market

from negotiation between the parties, with reference to valuation of share price by discounted cash flow method. 7. Expected benefits 1) Provide opportunities to the Company to expand its solar power

land with a building worth 125 million baht to expand its production area, warehouse and delivery. The building is still in the process of preparing for readiness to use in the next phase. 2.1.4

decreasing of oil price in this quarter had good result to Cost of production. In Q1/2019, Export sector will consistently grow. Meanwhile, domestic consumption will expand although household have risk from

main lime consuming sectors of the industry continue to expand: the sugar cane harvest will be flat compared to last season which was a record year. The steel industry will continue to grow but at a

In order to leverage the market leading position in Thailand and expand to overseas markets, Osotspa will acquire 60% ownership in Osotspa VTA Joint Stock Company to carry out the trading business of

agreement of Baht 20 million; and (4) cash paid to finance costs of Baht 52 million. 6. Forward Looking The Company and its subsidiaries will continue to expand branded business overseas and hasten the

the Group to expand its media offerings on a massive scale. MANAGEMENT DISCUSSION & ANALYSIS 2019 11 Feb 2020 MASTER AD PUBLIC COMPANY LIMITED 2 INTERNATIONAL MARKET – EXPANDING INTERNATIONALLY ACROSS