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Microsoft Word - KWM 003-2561 EN MD&A Q3_2561 K. W. METAL WORK PUBLIC COMPANY LIMITED Head office 259/83 Sukhumvit 71 road, Phrakhanong-nur, Wattana, Bangkok Branch 1 300/142 Moo. 1 Tambon Tarsit

(Translation) Page 1 of 2 No. CBG 053/2017 14 November 2017 Re: Board resolution and change of overseas subsidiaries’ capital structure To Managing Director Stock Exchange of Thailand Reference is

Limited and its subsidiaries (Hereinafter called “The Group”) would like to submit Management’s discussion and analysis for the Quarter 3’ 2019 with the summary as follows: - 1. Nature of operations of the

Company Limited and its subsidiaries (Hereinafter called “The Group”) would like to submit Management’s discussion and analysis for the Quarter 2’ 2018 with the summary as follows: - 1. Nature of operations

1 large project only, include water purification treatment project. As a result, revenue from project has increased as significantly from the previous year. In addition, the revenue from distribution

services revenue. Furthermore, the Company and subsidiaries has distribution costs and administration expenses in the amount of THB 401 million, which decreased by THB 325 million from the second quarter of

Microsoft Word - MD_A_Q12020_EN final 1 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Operational Summary in 1Q20 (Affected from Covid-19 pandemic

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE In

selling through agents was higher, transportation cost for distribution in both domestic and international market, sales promotion expense for exhibition In Philippine. All cost of distributions is incurred