into year-end due to continued strength at our customers taking into account the normal seasonal effects” 2. Outlook Marco environment experienced some notable headwinds particularly in the tourism

ratio was 9.2 times; increasing as compared to 2017 of 8.9 times The Company’s outlook after disposing of the Bangkok Edition Hotel, Observation Deck, Retail Cube Building: Property Business Although the

OUTLOOK Moving forward, the Company will place a stronger focus on international markets while placing domestic media assets under the management of Plan B Media Public Company Limited (“PlanB”), which

the 16th of January 2020 onwards. March The Thai Government declared an Emergency Situation in all areas of the Kingdom of Thailand due to the outbreak of the COVID-19. Management outlook and future

(FSMART) 1Q2020 Management Discussion and Analysis 2020 Management Outlook The Covid-19 pandemic has affected economic condition worldwide including Thailand, which severely decrease revenue of both

. Business outlook The Company aspires to grow revenue and profit sustainably in the long- term with leading Multi-Format, Multi-Category Customer-Centric Omni-channel Platform. To achieve the target, the

THB 12,789 million which decreased by THB 505 million or 4% from year ended 2019 due to net loss for this quarter of THB 505 million. 5. Business Outlook The impact of outbreak of Covid 19 Pandemic was

ended 2019 due to net loss. 5. Business Outlook The impact of outbreak of Covid 19 Pandemic was more severely felt in Q2 2020 and the Thai GDP is expected to contract by about 10% for the Full year 2020

Revenue from Financial Solutions contributed 45.11mb (1H 2019: 54.21mb), decreasing by 9.10mb or 16.8%. Business in the ERP segment remains soft due to the weaker market outlook. With the ability to offer

Equity 46.3% 46.2% 42.0% Financial Ratio 5 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis 2020 Management Outlook The Company focuses on business adjustment