MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 4 13 May 2019 FINANCIAL POSITION From 1 January 2020, the Company has adopted Thai Financial
rental and services represents revenue from hospitality business, commercial business and other businesses. Hospitality Business At the end of 2Q19, the Company’s total hotels reached 39 hotels with 4,647
franchise model, both in Bangkok and major provinces. At the end of the first quarter of 2021, the Company has 41 Mikka Café branches under the franchise contract. In the first quarter of 2021, the Company
quarter of 2022, Thai Baht was slightly appreciated compared to exchange rate at the end of the year 2021 which led to the Group has loss on exchange rate for the first quarter of 2022 for the amounting to
projects to foreign suppliers. During the period first quarter of 2023, Thai Baht was appreciated compared to exchange rate at the end of the year 2022 which led to the Group has loss on exchange rate for
large-scale projects: the project of procurement and installation of computer network systems for information of Chulalongkorn Hospital, Thai Red Cross Society, the project of development of the system
quality of food and safety standards throughout our operation, right from the animal feeds through the end products delivered to our customers. Furthermore, the Company maintains its competitive advantage
17,753 HRC Average Selling Price (Bht./ton) 834 4,225 H R C HRC Cash Margin (Bht./Ton) 5,445 5,212 Unit: million Baht 2 nd Quarter 2017 Year-end 2016 Total Liabilities 32,293 32,615 Total Asset 20,186
” in Asian Power Awards 2019. Furthermore, BGRIM also awarded the “Solar Power Project of the Year 2019 – Thailand” for the first Thai Green bonds certified by the Climate Bonds Initiative and the “Solar
DCORP by starting return the channels since the end of 2015 and ended on March 31, 2016. This matched with the decrease of costs of the year 2018. DCORP had profit before expenses Baht 13.75 million and