ratio was 9.2 times; increasing as compared to 2017 of 8.9 times The Company’s outlook after disposing of the Bangkok Edition Hotel, Observation Deck, Retail Cube Building: Property Business Although the

OUTLOOK Moving forward, the Company will place a stronger focus on international markets while placing domestic media assets under the management of Plan B Media Public Company Limited (“PlanB”), which

(FSMART) 1Q2020 Management Discussion and Analysis 2020 Management Outlook The Covid-19 pandemic has affected economic condition worldwide including Thailand, which severely decrease revenue of both

. Business outlook The Company aspires to grow revenue and profit sustainably in the long- term with leading Multi-Format, Multi-Category Customer-Centric Omni-channel Platform. To achieve the target, the

Equity 46.3% 46.2% 42.0% Financial Ratio 5 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis 2020 Management Outlook The Company focuses on business adjustment

to the consolidated financial results of Golden Lime. 2. Outlook The global Covid-19 pandemic will affect the Thai GDP negatively by 6-8% this year as of BOT projections, while in FY 2021 with a bounce

Forth Smart Service Public Company Limited (FSMART) 3Q2020 Management Discussion and Analysis 2020 Management Outlook Although Thailand is caused by the COVID-19 pandemic that affects a number of sectors

dividend payment, and the decrease in shareholders' equity from treasury stocks. 5 Forth Smart Service Public Company Limited (FSMART) 3Q19 Management Discussion and Analysis 2019 Management Outlook For

supply significant portion of our internal electricity use decreasing further operational expenses. 2. Outlook Economic growth accelerated in the third quarter from the near five-year low in the second

financial impacts from all the savings would not immediately appear in Q1/2020, the results is expected to gradually show up in Q2/2020. 2020 Outlook 3 As a response to the economic slowdown and the changes