Company Limited (FSMART) FY18 Management Discussion and Analysis Financial Position MB % MB % MB % Current assets 1,348.32 31.7% 1,430.87 36.5% 83 6.1% Non-current assets 2,912.13 68.4% 2,485.33 63.5% (427

many areas that resulted in the destruction of crops and household assets. Towards the end of this year, domestic political situation will also warrant monitoring as the National Council for Peace and

, particularly in the retail and wholesale, and tourism sectors. There was slightly higher demand for consumer loans from the previous quarter from credit card loans resulting from sales promotions and new

large corporates continued to expand but by less than expected due to greater competition. Demand for loans from the consumer sector increased from housing and auto-leasing, while credit card and other

measures, particularly those involving consumer protection and control of credit card and personal loans, together with a drop in credit card interest rates – all of these issues are likely to influence

assets while new depreciation from 5G asset gradually increase after continuing expanding 5G network capacity. Overall SG&A showed a decline of -6.7% YoY with marketing expense dropping -20% YoY reflected

of software to apply the same standard of AEON Group. The aforementioned software is a Credit Card system which is developed by ACSM. Value of consideration: Unit: Baht *Exchange rate as of January 3

) Inc. (“AEON Systems”) provides the system development to the AEON Financial Service Group and has been successful in implementing the Hire Purchase and Credit Card system as well as USD Based Loan

Transaction”) of which the transaction is considered as Connected Transaction in category of Receiving Financial Assistance, having transaction value of 19.21 percent of Net Tangible Assets or NTA of the

) Comprises of gain on sale of investments, sale of investment in subsidiaries and sale of assets. (2) EBIT, EBIT margins, EBITDA, EBITDA margins, EBITDAR or EBITDAR margins are not standard measures, nor