. Another key factor in reduction in Cost of Goods Sold is the change in estimated useful life of fixed assets as disclosed in the Note to Financial Statements no. 3.3 resulting in reduction in depreciation

and the Reversal of loss on devaluation of inventories. Another key factor in reduction in Cost of Goods Sold is the change in estimated useful lives of fixed assets as disclosed in the Note to

Increase (Decrease) 4 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Key Financial Ratio As at June 30, 2020, the Company had the current ratio of 0.61, equal

of Millpack Company Limited, a subsidiary of the Company that rents this area to operate a plastic packaging plant to support key customers to prevent risk for production lines that require more than 1

to the expiry date of the agreement. The Company confirms that it has capacity in relation to its interest cover covenant and that it complies with key terms on its Credit Facilities Agreement

1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2-2020 Management Discussion and Analysis Q2-2020 13 August 2020 KEY EVENT IN Q2-2020 In the 3-month and 6-month period of Q2-2020, UWC reported gross

attributed to cash received from IPO of 160.46 Mb.The key item of Non-Current Asse t s shown on the financial statement is Goodwi l l , that will be tested for impairment at least on a yearly basis. The

Increase (Decrease) 4 Forth Smart Service Public Company Limited (FSMART) 3Q2020 Management Discussion and Analysis Key Financial Ratio As at September 30, 2020, the Company had the current ratio of 0.62

a pick-up in sales going into the end of the year and into 2020. Certain other key segments like chemical and construction also show positive tendencies. The continued strength of the Thai baht is

. o The Group's operating results with net profit attributable to owners of the parent for the period totaling of Baht 61.69 Million.   Key financial ratios o Debt to Equity ratio (D/E) as of 30