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any large-scale or high- value projects like those in 2020 and 2021. However, when the situation of the COVID- 19 epidemic began to improve, the project operation in 2 0 2 2 became more convenient and
cash loss is small measured against the scale of the crisis. KEY BUSINESS AND STRATEGIC UPDATES THE ADJUSTMENT OF MINIMUM GUARANTEE FOR PLANB o On 30 January 2020, MACO had entered into an Advertising
the purchaser for the outstanding amount. A part of the proceeds from the disposal of assets were used to pay down on the bank overdrafts and short- term loan outstanding in March 2017. The Company
& medical supplies and improve in work- force efficiency as well as the benefit from economy of scale in term of declined fixed cost per unit were another factors to gross margin improvement. Administrative
economy of scale in term of declined fixed cost per unit were another factors to gross margin improvement. Administrative Expenses For 2Q’18 and 1H18, administrative expenses increased at the similar rate
benefit from economy of scale in term of declined fixed cost per unit were another factors to gross margin improvement. Administrative Expenses For 3Q’18 and 9M’18, administrative expenses increased 6% and
increased by 23.4% to THB 273mn from THB 221mn last year. Net profit margin decreased to 15.6% from 23.6% in 2017. In the future, we expect MACO will benefit from economies of scale synthesised from Trans.Ad
coverage and 3) supporting the business operation of MACO in Malaysia, and 4) strengthening overall bargaining power from increased scale. VGM Business Overview* *More commentary on the VGM transaction can