MACO reported its operating performance in 3Q 2020/21 with the total operating revenue decreased by 38.4%YoY to THB 496mn. Revenue from OOH Advertising Media decreased by 60.0% YoY to THB 168mn and revenue from System Integration services decreased by 14.9% YoY to THB 328mn, which was mainly from the prolonged COVID-19 pandemic. The result of aforementioned pandemic has caused a consistent economic contraction that gradually becomes more severe and greatly impacts the Company’s main business – OOH advertising media. From such circumstance, MACO experienced a net loss of THB 95mn in this quarter. However, the Company has strived to look for new business opportunities to improve its performances.
Mr. Phoon Chong Kit, CEO of Master Ad Public Co., Ltd. or MACO, one of the outdoor media leaders covering nationwide in Thailand and ASEAN for both static billboard and digital media disclosed the overall operating performance in 3Q 2020/21 has greatly been impacted by the world economic contraction due to the ongoing COVID-19 pandemic. This circumstance has caused many brands and marketers hesitating to spend their advertising budgets leading to a great impact on the Company’s performance. However, in the previous quarter, Thai economy started to recover from the easing of lockdown measures and the continuous release of government stimulus packages, hence encouraging more advertising demand. In addition, the Indonesian market has also shown a recovery sign from the easing measures. Therefore, the overall performance of the Company’s in 3Q 2020/21, MACO recorded the decrease in net loss by 40.8% QoQ.
From the increasing COVID infection rates in Malaysia and Indonesia along with the new COVID-19 pandemic wave in Thailand over the past December 2020, the Company foresees a negative impact on its overall performance. However, the Company will still continue to follow on its planned strategies by assigning Plan B Media Public Co., Ltd. to manage all of MACO’s domestic advertising media. In the meantime, the Company will aim to strengthen its international markets along with operate the business under cost-efficiency management. The Company has negotiated for the reduction of rental fee for domestic advertising media and concession fee for advertising media business in Malaysia. Both are important factors in running the business amidst the economic crisis. In the meanwhile, the Company is in search of the new potential businesses in order to generate sustainable revenues and profits for the Company as well as its stakeholders in every sector, added by Chief Executive Officer.
