management have handled the situation prudently and carefully. We have been focusing mainly on the financial health of the company including managing fixed and variable cost as well as liquidity management

(KM 26) Rd., Bangbor, Bangbor Samut Prakarn 10560 Telephone 0-2313-4848 Fax 0-2313-4849, 4787 Establish Date 06/10/2000 Listed Date 12/11/2020 IPO Price (Baht) 1.92 @Par0.50 Baht IPO Financial Advisory

to 1) consolidated operating loss of Baht 273 million during the year; 2) the recorded transaction of treasury shares from shareholders’ equity for financial management of 4 million shares during Q1

for agile organizational sustainability. Right after COVID-19 outbreak, the company made further strategic operation adjustment as follows: • Financial management (Income statement, balance sheet, and

disclosure of non-financial information, for example, management  discussion and analysis (MD&A), CG statement and CSR report. (2) Enforcement: Points of positive assessment include the determination of listed

P a g e 1 | 7 Management Discussion and Analysis For the nine-month period ended September 30, 2017 The analysis of consolidated financial position as at 30 September 2017 The group’s assets

P a g e 1 | 8 Management Discussion and Analysis For the nine-month period ended September 30, 2017 The analysis of consolidated financial position as at 30 September 2017 The group’s assets

increasing 51.0% YoY. 2 Forth Smart Service Public Company Limited (FSMART) 2Q17 Management Discussion and Analysis Financial Summary Income Statement Income Statement 2Q16 1Q17 2Q17 %QoQ %YoY MB % MB % MB

, decrease Baht 0.81 million or decrease 17.29% , because the number of employee at management level decreased. 7. Financial cost In Q3/2018, the financial cost was Baht 0.32 million compare with the same

future obligation • THB 0.76 million of loss from disposition of investment in associates • THB 1.83 million of loss from write-off of assets FINANCIAL POSITION 5 | MANAGEMENT DISCUSSION AND ANALYSIS 2019