Financial position 31 December 2018 31 March 2019 Increase (Decrease) 4 Forth Smart Service Public Company Limited (FSMART) 1Q19 Management Discussion and Analysis Total shareholders’ equity as at 31 March

SET Index in second quarter of 2017 ended at 1,574.74 points, a 0.02 percent decrease compared to the first quarter of 2017, mainly due to a decline in the trading of SET Index . For the January - June

of Thailand SET Index in second quarter of 2017 ended at 1,574.74 points, a 0.02 percent decrease compared to the first quarter of 2017, mainly due to a decline in the trading of SET Index . For the

compared to last year which was in accordance to an increase in revenue from sales of good. However, the Company has a slightly drop in gross profit margin from 23.51% to 22.50% in this year. Mainly came

proportion of approximately 37:63, respectively. The overseas sales of branded products by own manufacture grew by 30.0% offsetting the drop of 1.0% in the domestics. According to the Nielsen’s final sales

alcohols business recorded sales revenue of THB 827 million in 3Q/2019, a decrease of 38% from 3Q/2018 mainly due to natural fatty alcohols price drop following crude palm kernel oil price softness, and the

through private PPA with a framework to develop approximately 30 MW solar rooftop for Al Madina Group and to Cambodia by securing new solar project with 39 MW installed capacity, scheduled in Q4’2020

record 2018. Disruption in the steel industry has caused volumes to drop year on year at key customers however, these issues are being resolved and with expected fixed asset investment and a new product

of margins calculation prescribed by the derivatives exchange; (2) call for its clients to deposit additional margins when their margins drop below the rate or value of the maintenance margins

exchange or the value calculated under the method of margins calculation prescribed by the derivatives exchange; (2) call for its clients to deposit additional margins when their margins drop below the rate