prices have increased and will continue to rise into the second half of the year. Investment in operational efficiency projects such as Lime Kiln Dust reinjection will help to mitigate somewhat the higher

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

long run; and (3) To help create the opportunity to increase the Company’s share price and dividend from its operational results in the future. 7. Source of Funds The Company will utilize the proceeds

: “Sales wise we had a very good third quarter buoyed by a strong market and good operational performance where we were able to run all available assets at full capacity including in our recently acquired

การประกอบธุรกิจเพื่อให้สะท้อนความเสี่ยงด้านการปฏิบัติการ (operational risk) นั้นไม่เหมาะสม เพราะขนาดของความเสียหายผูกติดกับความเชื่อและขนาดของเงินลงทุนของลูกค้า ไม่ได้ผูกติดกับรายได้ค่าธรรมเนียมหรือค่า

and providers of real estate services. The main focus is put on the quality of life of residents managed with “Livable Community” strategy. In 2020, the operational guideline of the Company has been

corporate income tax rate of 16.8% down from the ratio of 20.2% mainly due to the higher income tax expenses from better operational performance whereas less loss from the overseas subsidiaries. 6 Net profits

enforcement of strict measures, for instance, operational lock-down, state quarantines and travel restrictions in Thailand, Malaysia and Indonesia. Consequently, most of business activities were temporarily

volume vs last year same period. The impact on the financial performance was significantly mitigated (operational cost saving program launched still in Q1 after Covid-19) and longer term via a network

1 Forth Smart Service Public Company Limited (FSMART) 3Q2020 Management Discussion and Analysis Operational Summary in 3Q20 (recovered from Covid-19 pandemic)  Net profit was Bt123mn, increasing