mentioned. Excluding such non- recurring income, 1Q18 revenues would have grown 9% QoQ, mainly from stronger performance of hotel business. Management Discussion and Analysis 1Q18 Consolidated Financial

solution with HR services representing 75.9% of our revenue, Financial services representing 22.6% and other income representing a small 1.5%. In 2018, the HR services has grown at a higher rate than

and money transfer service which grown steadily. 3 Forth Smart Service Public Company Limited (FSMART) 2Q17 Management Discussion and Analysis 3) Advertising income was Bt2mn, decreased 62.3% YoY

increase of 40.4% YoY, mainly from the increasing in kiosk usage and money transfer service which grown steadily. 3 Forth Smart Service Public Company Limited (FSMART) 3Q17 Management Discussion and Analysis

% YoY, mainly from the increasing in kiosk usage and money transfer service which grown steadily. 3 Forth Smart Service Public Company Limited (FSMART) 3Q17 Management Discussion and Analysis 3

our investments, as well as improvements in surplus cash management where we have invested surplus cash in money market products giving a better yield. Cost of Services While our revenue has grown 7.7

grown 7.7% compared year-on-year, the growth in our cost of service increased by 3.00mb or 2.1% to 147.42mb (Q2 2018: 144.42mb). The slower growth in cost is mainly due to improved productivity in our bid

aviation fuel services volume at BKK and DMK has grown by 0.5%(y-o-y) while the total multi-products of fuel volume of FPT has increased by 7.2% (y-o-y). For the total services income in the first six months

million, an increase of Bt2.5 million or 0.3% (y-o-y). Because of the total aviation fuel services volume at BKK and DMK has grown by 1.7%(y-o-y) while the total multi-products of fuel volume of FPT has

significantly compared with the same period last year. Including preventive maintenance's income from existing customers as increase. As a result, the revenue in this business segment has grown as continually