economic policy. But, the global economy trend as continued to improve. Thai economy is growing as slowly which the tourism and exports were driving force in past time. Including, the income and unemployment

Fixed income funds are steadily growing with more diversified investment portfolios. As of the end of 2018, net assets value of fixed income funds was approximately 2.6 trillion baht, most of

which correspondent to the low level of Consumer Confidence Index, while household debt has steadily increased and anxiety for employment situation in the future, all these affected to the expenditure of

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

26 February 2020 At: ACC/HO 003/63 Re: Management Discussion and Analysis for the year ended 31 December 2019 To: President The Stock Exchange of Thailand Thailand’s economy grew more slowly than

construction in 2019. In Q3/2018 RDF business has sold its product to customer and the company is adjusting the product to suit customer uses. However, the RDF plant is increasing its production and sales slowly

Loan to Value regulation or “LTV”. Moreover, the household debt has been steadily increased in recent years which result to the strict in granting a loan to the borrower from many financial institutions

revenue to grow steadily. Terms and conditions in land sub-lease and building lease agreements are appropriate and cause no potential conflict of interest. They conform to normal business practice of long

regulation or “LTV” since 2019. Moreover, the household debt has been steadily increased in recent years which result to the strict in granting a loan to the borrower from many financial institutions. As well

steadily increased in recent years which result to the strict in granting a loan to the borrower from many financial institutions. As well as, the epidemic of Covid 19 have severe negative impacts on the