the TV sector and traditional media have been in decline and is expected to be surpassed by OOH media (Outdoor, Transit and In- store media) and digital/online spending in the near future. Master Ad

conventional media sectors. The TV sector with the highest market share at 64.8%, fell 7.4% YoY to THB 65,786mn and Traditional media (Newspaper, Magazines and Radio) with a 13.9% market share, declined by 21.7

% 25.5% 24.3% Adjusted net profit margin 22.5% 27.1% 28.2% 1Adjusted for share of investment in JV and associates and non-recurring expenses. 2As shown in financial statement, excluding minority interest

1 MD&A 3Q 2018 (ended 30 September 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2018 6 NOV 2018 MEDIA INDUSTRY Outdoor media has presently become the go-to choice for advertising. It’s

increase of the registered capital of the Company by issuing 650,789,079 newly issued ordinary shares with a par value of Baht 1. 00 per share accounting for 18. 48 percent the Company’ s issued and paid- up

still has carried on offering new products continuously which is an innovation of power saving in Air Conditioner (WATER INT PAD: Water Intelligent). In addition the Company still development quality of

. has distributed medical equipment. For the year 2019 we can recognize income from complete installation of air tube systems for transfer documents and parcel (Pneumatic Tube Carrier Systems) for 9

Air Conditioner (WATER INT PAD: Water Intelligent). In addition the Company still development quality of product and service followed by client’s standard that appropriate with their business. The

million or 29% of total revenues. Selling and administrative expenses decreased by THB 30.74 million, financial costs decreased by THB 19.37 million and share of profit from associates and joint ventures

from complete installation of air tube systems for transfer documents and parcel (Pneumatic Tube Carrier Systems) for 8 projects. In addition, Hi Healthcare Center Co., Ltd. was established on the past