of services Depreciation Network OPEX SG&A Financial cost Income tax expense Net foreign exchange gain (loss) (20,385) (9,712) (7,173) (6,288) (1,201) (1,397) (452) - - - - - - 30 47 (2,873) 2,920 14

procurement project to increase efficiency in usability and management of internet network users and electronic mail intrusion prevention devices of the Social Security Office and the Maintenance project of the

considered key performance indicators used by operators in the same industry, in the amount of Baht 19,732.20 million, increased by Baht 3,163.1 million or 16.03% from the previous year while the Net Profit

relatively strong results in 1Q 2018 with an operating revenue of THB 290mn, an increase by 53.1% and net profit of THB 53mn, increased by 42.3% YoY. 2 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD

Commission Notification of the Securities and Exchange Commission No. SorThor. 23/2549 Re: Calculation and Report of Net Liquid Capital Calculation _____________ By virtue of Section 109 of the Securities and

of the Securities and Exchange Commission No. SorThor. 23/2549 Re: Calculation and Report of Net Liquid Capital Calculation _____________ By virtue of Section 109 of the Securities and Exchange Act B.E

Securities and Exchange Commission No. SorThor. 23/2549 Re: Calculation and Report of Net Liquid Capital Calculation _____________ By virtue of Section 109 of the Securities and Exchange Act B.E. 2535 (1992

3,629mn, declined by 22.7% YoY. In this quarter, MACO outperformed the media industry significantly, delivering solid operating revenue of THB 262mn, an increase by 52.1% YoY. The Company reported net

, delivering a solid operating revenue of THB 199mn, an increase by 4.9% QoQ and 9.6% YoY. The Company reported net profit of THB 51mn, increased by 36.9% QoQ and 26.0% YoY. For more details of the Company’s

38,459 million in net profit, increasing Baht 4,121 million or 12.00 percent compared to the year before. The increase was mainly due to a decrease of Baht 9,278 million or 22.19 percent in allowance for