identified and verified to support deposit account opening and sim card registration. 6 Forth Smart Service Public Company Limited (FSMART) 2Q18 Management Discussion and Analysis Furthermore, the Company

structure and sufficient debt capacity. 7. The basis used to determine the value of consideration 7.1 The final bid value of spectrum license is based on the auction identified under the Notification of the

according to the initially adopted TFRS 16 on contracts previously identified as leases according to TAS 17 Leases, and depreciation expense during the period amounting of 20.04 Million Baht. Net effect of

an extraordinary resolution shall be identified. In case of requesting the resolution to revise the mutual fund scheme or the method of management, such resolution shall not be in conflict or

Year of 2018 WHAUP finished our 2018 with the record high Net Profit of Baht 2,251.9 million, a 13.7% increase from 2017 with Normalized Net Profit of Baht 2,267.8 million, a 61.2% increase from 2017. 1

% 3% Note: 1 Acquired in August 2015. Construction Material Business Performance of this business constitutes performance of manufacturing and sales of construction materials, e.g. finished fences

Performance of this business constitutes performance of manufacturing and sales of construction materials, e.g. finished fences, aluminum products, etc., which is one of NVD’s businesses. The business has been

. In Q4/18, the Company had financial cost of THB 47.3mn, an increase of THB 47.1mn from THB 0.2mn in Q4/17 due to the interest from loan for acquiring KPNL’s property which are finished projects and

First Quarter of 2019 WHAUP finished our 1Q2019 with a Net Profit of Baht 424.2 million, a 40.8% decrease from 1Q2018 with Normalized Net Profit of Baht 394.2 million, a 15.3% decrease from 1Q2018. 1

4th quarter in any year would see large amounts of expenses disbursed. 5. Losses from crude and finished product hedging contract of THB 73 million due to oil price fluctuations in this quarter. 6. Gain