ที่ บช 2017 2016 Increase (Decrease) % Operating Results : 2nd Quarter Revenue from sales of real estate 602,001 615,657 (13,656) (2.22) Total revenues 687,009 675,185 11,824 1.75 Total expenses

zero lost time injuries in Q4 2018 and 2 LTIs for the entire 2018  Revenue: 269mTHB in Q4 2018 compared to 212mTHB in Q4 2017 an increase of 27%; 2018 full year revenue of 1121mTHB compared to 920mTHB

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

and 2018 Unit: Million Baht Q3’2019 Q3’2018 Increase (Decrease) % Change Sales income 15,219.71 15,400.82 (181.11) (1.18%) Rental and service income 666.38 598.17 68.22 11.40% Other income 489.38 494.97

to clarify the significant reasons for the increase in profits for the third quarter and the nine month period of 2018 compared to the same period of the previous year, as follows: The third quarter of

% Administrative expense for the six-month period ended 30 June 2019 totaled THB 133.61 million, an increase of THB 66.43 million or 98.88% from the same period of previous year. This was due to (1) Rise of the

increase of 206.2 MB and 133.3 MB, respectively, due to the auctioned projects, which were bid at the end of Q1-2017, has gradually delivered in the Q2-2017. The overall economy expansion in Q2-2017 has

the extra accounting expense as mention above. If we exclude this transaction, the EBITDA for year 2018 would grow by 15% yoy and EBITDA margin would increase to 26% for year 2018. Financing Costs In

expenses to sales ratio to rise. Q3/2019 Finance Costs The Company and its subsidiaries recorded finance costs of Baht 19 million, an increase of 11% YoY due to higher borrowings as a result of investments

1 Forth Smart Service Public Company Limited (FSMART) 1Q18 Management Discussion and Analysis Operational Summary in 1Q18  Total revenue from core business was Bt842.14mn, an increase of 17.8 % YoY