percent, revenue from Rail business of Baht 4,736 Million representing an increase by Baht 215 Million or 4.8 percent and revenue from Commercial Development business of Baht 705 Million representing an

rail business 1,211 1,183 28 2.4 Revenue from commercial development business 177 166 11 6.6 Interest income from the MRT Purple Line Project 99 112 (13) -11.6 Other income 57 61 (4) -6.6 Total revenues

investment in ONE CITY CENTER (“OCC”) – grade A office building development project for a total investment value of THB 8,771.4mn. Management outlook and future projects Despite the real estate market in

Quarter Changes 2020 2019 Amount % Revenue from expressway business 2,300 2,581 (281) -10.9 Revenue from rail business 1,293 1,211 82 6.8 Revenue from commercial development business 204 179 25 14.0 Total

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

of a possible recurrence of the outbreak in Thailand, have led to severe restrictions on inbound and outbound travel. This has resulted in a massive contraction of the tourism industry, as well as the

, Commercial Development Business, the manufacture and distribution of treated water business and electricity production business. Therefore, there was no similar type of business in the industry that can be

. Major customers of SEL are in electronic industry (Tier 1). SEL forte include: 1. Highest number of transportation flights from Singapore 2. Located within Changi Airport and capable of Direct airport

to the increase in net profit of a subsidiary company who manufacture and supply the automotive exhausted pipes to automotive industry. 2 1.1 Revenue For the period of three months ended 30th June 2018

12 Million) per year, based on historical records of Kitchen Plus restaurant and the due diligence based on its accounting and financial information. Growth Rate of Revenues per Branch : 2.5% based on