1 Forth Smart Service Public Company Limited (FSMART) 2Q18 Management Discussion and Analysis Operational Summary in 2Q18  Total revenue from core business was Bt848.81mn, an increase of 10.4% YoY

outside of department stores in order to serve the increasing number of health-conscious consumers. Expanding “Luggaw” to Increase Brand Portfolio Continue to Aim to Grow Internationally The Company

Buildings Criteria in 2014, the TWG now focuses its efforts on refining and expanding the Criteria to increase its ease of use as well as its application by bond issuers globally. List of TWG members for

are related to Engineering, Procurement and Construction business (EPC) of Water Treatment Project, Wastewater Treatment Project in order to increase cash flow, instead of expanding to the construction

fixed costs and variable costs The variable costs will be based on the work received and the direct costs increase at the rate of 1. 30 percent per year. - Discounting using the discount rate (WACC) at 11

fixed costs and variable costs The variable costs will be based on the work received and the direct costs increase at the rate of 1. 30 percent per year. - Discounting using the discount rate (WACC) at 11

fixed costs and variable costs The variable costs will be based on the work received and the direct costs increase at the rate of 1.30 percent per year. - Discounting using the discount rate (WACC) at

expanding distribution channel. 1.3) Revenue from selling of real estate increase 80. 83 million baht or 100% due to its subsidiaries start to recognize revenue from selling of real estate. 1.4) Revenue from

Consolidated net loss for the period (Q1) amount -4.57 million compare with the same period (Q1) for the last year amount -2.80 because the Company Cost of Market Development of Expanding the customer base and

was in accordance with company’s continually expanding strategy and well management in sales and marketing function. The company; therefore, can gain more market share. 2. Selling and Administrative