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

last year). The Company has active customers more than 2 million IDs, mainly from Bangkok 31%, and in up-country 69%. Covering networks nationwide, the Company has 105 branches, 431 ATMs, and 6,665

quarter. However, the Thai economy is expected to grow continually from last year, thanks to the expansion of exports and tourism sectors as well as an increase in government consumption. In addition, the

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, increased by 3% from the end of last year). The Company has active customers more than 2 million IDs, mainly from Bangkok 31%, and in up-country 69%. Covering networks nationwide, the Company has 104 branches

. Operating Results Revenues In the first quarter of 2018, the total consolidated revenues were 5,016 million baht, showing an increase of 628 million baht or 14% from the same period last year and at the same

or 3% from last year. The revenues growth came from an increase in credit card income and bad debt recovery. As of May 31, 2017, The Company has active billings of 3.42 million accounts per month with

consolidated financial statements of the Company increased by Baht 201.68 million or 8.31% compared with last year. An increase mainly due to higher net accounts receivable of Baht 103.75 million since some

the previous year due to continue an increase of export and private consumption, as well as an expansion of private investment. In addition, there were supporting factors from domestic demand from the

, resulting in an increase in the unemployment rate. The impact of COVID-19 was felt globally, and the state of emergency was declared in Thailand, resulting in disrupted economic activities whereby certain