trend development was more than offset by the continued positive growth sentiment of advertising spending in November and December 2017, driven by the economic rebound in exports, tourism and automotive

decline in revenue from dessert café, which was attributed to the lower traffics in shopping malls and weaker consumption sentiment following COVID-19 concerns together with the closure of shopping malls

future. Business wise H1 2019 was challenging particularly in the most recent quarter. Business sentiment in multiple industrial segments important to us has been impacted by the macro economy and the

moderated, while business and consumer sentiment worsened. As in Q2 also in Q3 the main lime consuming sectors of the industry were impacted by the macro economy. However, market feedback has given us

retraction of economic activities and consumer spending. The consumer sentiment remains fragile as the country waits for vaccination against the new variant. Despite of such economic weakness, we delivered

since 2016, while the Indonesia market also began to generate early profit. Despite the positive sentiment in the oversea markets, the Company’s faced challenges from the sluggish performance in the

2020/21, the Company sees a positive sentiment from the Prowtech’s operation due to a sign of recovery in Outdoor media demand. Therefore, MACO will initially invest 15.0% in VGI Vietnam from subscribing

with this political risk potentially denting consumer and business sentiment as well as investment activity. Aside from these risks the industrial trends impacting the lime business are positive. Fixed

sentiment with 1.3% growth YoY, driven by C-Vitt (+249.3% YoY). New beverage production capacity completed earlier than planned, which enabled us to serve unmet C-Vitt demand and continue driving category

signs of improvement in overall advertising sentiment in the remaining months of our fiscal year, we reiterate our target of THB 4,000mn in revenue in 2017/18. IMPORTANT EVENTS IN 2Q 2017/18 Transit in