million decreased by 12% for the same period of previous year amounting Baht 45.21 million from cost management by carefully set up own operational and maintenance for machines and equipment of solar farms

also affected by the weak purchasing power of consumers and the early rainy season. However, the Mega Home business has improved its operational cost management and has benefited from economies of scale

also affected by the weak purchasing power of consumers and the early rainy season. However, the Mega Home business has improved its operational cost management and has benefited from economies of scale

Management 11  Market Risk Management 14  Liquidity Risk Management 16  Operational Risk Management 17  Cyber Risk Management 17  Strategic Risk Management 19 3. Business Directions and Operations of Core

1 Forth Smart Service Public Company Limited (FSMART) 2Q17 Management Discussion and Analysis Operational Summary in 2Q17  Total revenue from core business was Bt769mn, an increase of 48.0% YoY

1 Forth Smart Service Public Company Limited (FSMART) 3Q17 Management Discussion and Analysis Operational Summary in 3Q17  Total revenue from core business was Bt788mn, an increase of 42.1% YoY

1 Forth Smart Service Public Company Limited (FSMART) 3Q17 Management Discussion and Analysis Operational Summary in 3Q17  Total revenue from core business was Bt788mn, an increase of 42.1% YoY

management control of IRSL in April 2019, IRSL operational and financial performance has been improving. IVL has appointed a new management team, including the CEO and CFO, in IRSL to manage and operate the

amounted Baht 140.05 million. This was due to cost management by carefully set up own operational and maintenance for machines and equipment of solar farms. • Operating and Administrative expenses for the

Changes 5 2. Risk Management and Risk Factors 8 2.1 Overall Risk Management 8 2.2 Risk Management 12  Credit Risk Management 12  Market Risk Management 15  Liquidity Risk Management 16  Operational Risk