% YoY and 8% QoQ, since fundamental factors supporting the overall purchasing power remained soft and did not cover all areas, especially in the low income consumers, although overall private consumption

income tax payable of THB 30mn. The increase was partially offset by a decrease in 3) short term loans from financial institution of THB 45mn. Total equity was THB 3,295mn increasing by THB 190mn or 6.1

liabilities 0.87 52.39 Issued and paid-up capital 158.31 1.00 Unappropriated retained earnings (losses) (0.73) (0.73) Shareholders’ equity 157.10 0.27 Total revenues 0.00 0.00 Total selling and administration

drawn from the company’s retained earnings already subject to 30% corporate income tax. Payment date has been set for Tuesday, May 21, 2019. 2. The 5 directors due to retire upon term completion are as

and credit- worthiness. As of 31 March 2018, the allowance for doubtful accounts was THB 36mn. The increase in account receivables comprising of 1) trade receivables of THB 124mn, 2) accrued income of

375.56 (15.12) (4.0) Income tax expense 150.97 300.49 (149.52) (49.8) Total expenses 2,522.92 2,340.76 182.16 7.8 1,983.86 1,703.23 280.63 16.5 Non-controlling Interests (0.01) - (0.01) - Profit before

-condominium projects and single houses. The marketing strategy is to create a differentiated products and services that are unique only to the Company. The sales volume target and income from sales target in

mentioned. Excluding such non- recurring income, 1Q18 revenues would have grown 9% QoQ, mainly from stronger performance of hotel business. Management Discussion and Analysis 1Q18 Consolidated Financial

by the reduction in non-recurring revenue by 18.67mb or -33.3%. Other Income Other income has increased by 6.89mb or 84.9% to 15.01mb (2018: 8.12mb) as a result of realized gains on investments

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