middle of developing its infrastructure and expanding the branches of SPAR accordingly, thus incurring high selling, general and administrative expenses in the beginning, leading the Bangchak Retail Co

addition, higher household debts pressured consumer to carefully control their spending. (Source: Quarterly Economic Assessment and Outlook 3/2017 Bangkok Bank Public Company Limited) Performance Analysis

points of Boonterm kiosks with quality and expanding the efficient installation points. As a result, total prepaid value continued to grow continuously. In 4Q18, total revenue from core businesses was

Boonterm kiosk location strategy in 2018 rather than emphasizing on expanding http://www.ratchakitcha.soc.go.th/DATA/PDF/2562/A/043/T_0021.PDF 4 Forth Smart Service Public Company Limited (FSMART) 2Q19

Forth Smart Service Public Company Limited (FSMART) 3Q2020 Management Discussion and Analysis 2020 Management Outlook Although Thailand is caused by the COVID-19 pandemic that affects a number of sectors

strong network quality. The full-year guidance and outlook for 2018 was maintained as presented on page 6. Significant Events 1. AIS, via AWN, currently holds 81.47% of total CSL’s outstanding share and is

from increasing of loans for expanding Boonterm Kiosk Interest-bearing debt to Equity ratio increased to 1.00, mainly from loans for investment and working capital. Return on Asset stood at 18.0%, mainly

. Debt to Equity ratio decreased to 2.28, mainly from increasing of loans for expanding Boonterm Kiosk Interest-bearing debt to Equity ratio increased to 1.00, mainly from loans for investment and working

revised FY22 guidance and outlook. Core-service revenue to low-single-digit growth (revised from mid- single-digit growth). EBITDA to flat to slightly decline (revised from low-single-digit growth). We

increase of depreciation cost from expanding Boonterm kiosk. 2) Sales profit was Bt0.43mn, a decrease from 1Q2017 which was Bt1.44mn, represented 70.1%. In 1Q18, the Company emphasize efficient Boonterm