1 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Operational Summary in 2Q20 (affected by Covid-19 pandemic and measurements from government) • Net

MACO’s performance was dramatically affected from lower advertising demand due to the COVID-19 pandemic and global economic uncertainty.  Consolidated revenue decreased by 25.9% YoY to THB 512mn o

. Assets increased primarily from impact of the adoption of new financial reporting standards, the acquisition of a new subsidiary and the depreciation of the Thai Baht that affected the value of Company’s

new WLTP (Worldwide Harmonised Light Vehicle Test Procedure) that became mandatory from the start of September 2018, which affected mostly car sales in Europe. However, sales in THB terms were

year affected to end user to delay their purchasing order from the retail store and therefore the distributor delayed ordering for their stock as well, together with the delivery plan were delayed to Q3

countries. The tourism sector has been adversely affected by a contraction of Chinese tourists’ arrivals while private investment has been expanding at a slower rate. Although private consumption has

previous year. This was due to revenue from sales was increased slightly and a decrease in unit price. In addition, the increase in cost of sales was affected to decrease in gross profit. (4) Selling

Forward According to the outbreak of Covid 19 at the end of the first quarter of 2020, it was found that the company affected by the situation but was at a manageable level. However, the company anticipates

, comparing with the share of loss of Baht 0.54 million last year. Scentimental (Thailand) Co., Ltd., another associated company, had lower revenue directly from the outbreak of COVID-19 which affected the

. According to temporarily closing of the branches and postponement of annual event, these affected of decreasing in same store sales at 61.1%, however, there is incremental in revenue from new branches that