1 Ref. FN. 011/2019 Management Discussion and Analysis For operation of the year 2018 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet business, featuring
business, featuring both house brand and other brand products. To date, the Company has 11 outlets (Phetchaburi, Kanchanaburi, Pattaya, Pak Chong, Sing Buri, Hua Hin, Sriracha, Phra Nakorn Sri Ayutthaya, Hat
MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 1 13 May 2019 QUARTERLY BUSINESS HIGHLIGHTS – 2Q 2020/21 MACO’s performance was
out of these four directors jointly sign with the company’s seal affixed.” 3. Approval for disposal of “Komchadluek” business and trademark to Nation Broadcasting Corporation Public Company Limited
months Changes 2020 2019 % 2020 2019 %ะ Revenue from expressway business 1,506 2,521 -40.3 3,806 5,103 -25.4 Revenue from rail business 816 1,162 -29.8 2,109 2,373 -11.1 Revenue from commercial development
that was explained as follows; Beverages business The beverage sales and services revenue for Q3’2018-2019 was Baht 1,799 million, increased by Baht 84 million or 4.9% from Q3’2017-2018, driven by strong
increasing by Bt118.1 million or 3.1%(y-o-y). For the income proportion separating by business structure consisted of Aviation refueling services at 81% and Fuel pipeline transportation services at 19
305.53 - 0.00% Share surplus from business combination under common control 20.64 20.64 - 0.00% Retained earnings 79.52 78.26 1.26 1.61% Total parent’s equity 805.69 804.43 1.26 0.15% Non-controlling
paid-up capital 305.53 305.53 - 0.00% Share surplus from business combination under common control 20.64 20.64 - 0.00% Retained earnings 56.08 78.26 (22.18) (28.34%) Total parent’s equity 782.25 804.43
decreased by 64% compared to the same period at the previous year. The main reason from decrease in service revenue due to Wutiisak Clinicintergroup Co., Ltd. “Wuttisak” changed business to franchise model. 2