Microsoft Word - MD&A 3Q2020-E_Final by FA&Mark _3 Nov 2020_.docx 1 Ref: CSO. 034/2020 Date: 3rd November 2020 Subject: Management Discussion and Analysis Quarter 3 Ending 30th September 2020

Microsoft Word - MD&A 3Q2020-T_Final by FA&Mark _3 Nov 2020_.docx 1 ที สลบ. 034/2563 วนัที 3 พฤศจกิายน 2563 เรือง คําอธบิายและวเิคราะหข์องฝ่ายจัดการ ไตรมาสที 3 สิ/นสดุวนัที 30 กนัยายน 2563 เรยีน กรรม

business overseas. VGM has recently expanded its footprint into Indonesia, securing a 20-year concession to manage Transit media in North-South line – the first mass transit system in Jakarta.  In the end

THB 92mn mainly resulted from the lower passengers in Mass Transit system in Indonesia.  Net loss was THB 179mn with a net loss margin of 35.0%. KEY BUSINESS AND STRATEGIC UPDATES Established a

. Total revenue decreased of Baht 272.67 million or 108% mainly from:  Gain from investments decreased of Baht 242.20 million mainly from mark to market price of investment in listed securities decreased

”) is managing advertising space on 31 stations and 58 trains of the Klang Valley Mass Rapid Transit system, or MRT, in Malaysia, with the SBK Line – one of the system’s main lines – recording more than

stores in Bangkok continue to be affected by construction work for the mass transit system. In addition, the company has organized various promotional activities, such as the HomePro Expo during 15-24

Mass Transit System Public Company Limited and Master and More Company Limited has been amended to the satisfaction of PLANB; (9) The Company shall have obtained written consent from KASIKORN Bank Public

, 2018 between Bangkok Mass Transit System Public Company Limited and Master and More Company Limited has been amended to the satisfaction of PLANB; (9) The Company shall have obtained written consent from

the Project for Technology Improvement of Advertising Media on the Pillars of Bangkok Mass Transit Stations (Sukhumvit and Silom Lines) dated November 1, 2018 between Bangkok Mass Transit System Public