through this channel will help facilitate their business expansion and development as well as foster their competitive edge at domestic and international levels. To this end, more jobs would be created and

growth contributors are also anticipated to perform better especially private investment which will be backed by vigorous export expansion and investment by public sector. Increase in money injection from

Lime made a number of advances including launching dolomitic lime, starting the construction of a solar project, which will reduce the total power consumption by 15% from H2 2020 and expansion on the

spending during the remaining of 2017, encouraging by signs of growth cylinders including consumption and exports growth subsequently led a GDP expansion of 3.3%2 in the first quarter of 2017. The Bank of

MACO’s media network and expanded its presence nationwide. The expansion increased MACO media capacity by more than 55% from THB 900 (pre-consolidation) to THB 1,400mn. 2) The launch of 1st phase of CBD

expected to be completed in the beginning of next year MahaSamutr Project: The construction of MahaSamutr project – villa is in the process of infrastructure and will be completed soon. The Company expects

Expressway (SES), toll revenue was slightly increased from the previous year. For the Bang Pa- in - Pak Kret Expressway (Sector C+), toll revenue increased by 2 percent due to the expansion of suburban area

or 3.08% compared to Q1/2018. The reasons were from increasing in tap water sales volume, net off with depreciation and amortization which increased by 5.89 million Baht from capacity expansion

million baht due to being in the beginning and expanding period. Expenses of GWM increased from the same period of last year by 3.37 million baht and expenses of NCL Singapore subsidiary increased by 1.92

of THB 44mn and dividends paid of THB 11mn. TWELVE-MONTH CASH FLOW SNAPSHOT 195 180 58 55 263 Beginning cash (31-Dec-17) CFO CFI CFF Ending cash (31-Mar-18) 6 MASTER AD PLC MANAGEMENT DISCUSSION