of subsidiary company does not have the solid plan shift to the international market, providing to the independent valuer and auditors, this transaction is fully provided. Loss from allowance of

of subsidiary company does not have the solid plan shift to the international market, providing to the independent valuer and auditors, this transaction is fully provided. 5 Loss from allowance of

storage and networking power supplies (Computer & Networking Power) have seen consecutive drop in revenue at 26.2% and 36.5% for year 2016 and 2015, respectively. This is due to the rapid shift towards

reputation and audit firm change. Introduction Our evidence is of interest as it comes from a setting with a quite limited number of approved audit firms. In Thailand, as of December 2020, there were 29

% YoY. Nevertheless, Outdoor media - our focus segment- recorded THB 1,525mn in advertising expenditure, an increase of 3.8% QoQ and 11.0% YoY, benefiting from a shift in people’s behavior to spend more

increased over the past few years, benefiting from the shift in people’s behavior to spend more time outside as well as its strength as being a media that reaches consumers when they are on the go and

continuously increased over the past few years as evident from an acceleration of its advertising expenditures by 3.6%1 YoY to THB 1,678mn in 3Q 2017, benefiting from the shift in people’s behavior to spend more

costs as our fuel expenses have increased in recent months in line with the general trends on the solid fuel market. The operational efficiency improvement projects will along with fixed cost discipline

popularity due mainly to changes in people’s lifestyle as well as the shift in media consumption towards online and digital. In the past, people received their news, information and advertising mostly in their

1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media