other persons in a manner which is similar to or which is in competition with the operation of the management company except where the management company can show that its organizational structure does

projects of the government and state enterprises have slowed down and increased more competition in the market. The majority of the Company's revenue recognized in 2023 comes from government and state

TTTBB acquisition and good momentum in organic performance, with expanded economic conditions and a stabilized competition outlook. The key is to deliver convergence across our services leveraging our

to improved sales growth. Page 5 of 10 Management Discussion & Analysis Q3/2024 Revenue from the wholesale business declined in the dealer segment due to competition from major players in each region

อนาคต (Forward looking) บริษทัฯ ยงัไม่มีโครงการลงทุน หรือการวจิยัและพฒันาที่จะกระทบต่อผลการด าเนินงาน และฐานะการเงิน ในช่วงเวลา 1 ปีขา้งหนา้ ส าหรับธุรกิจหลกัปัจจุบนั บริษทัฯ สามารถด าเนินธุรกิจไดอ้ยา่ง

0.65 per share). Hence, the proposed dividend payout ratio from the 2019 consolidated net profit after deducting the legal reserve is at 93%. 2020 Business Outlook Going forward in 2020, OSP continues to

, SG&A expenses as a percentage of revenue rose to 30.0% from 29.8%. The Company expects that the ratio should be maintained at no more than 30% going forward. Interest expenses increased 401.9% from THB

finance costs, caused by loans for invested in SEGSD at 40.90% (8.18% indirect ownership interest of EGCO). Corporate income tax expense was increased since the utilization of tax loss carry forward led to

% going forward and the ratio should gradually decline as a result of cost synergies in through restructuring, in particular in digital operations. In light of tangible improvement in gross profit, VGI

quarters, 2Q to 4Q 2018. Going forward, we expect 2018 to be another year of impressive growth for MACO. This will be driven by the full year consolidation of COMASS, the expansion of LED billboards to 50