@rajask132 Below I've listed a couple of the resources available to you regarding extracting data from Smallworld:

• Working with GE Smallworld Databases: Starting point when working with FME & Smallworld

   

• FME and Smallworld Configuration Options: key resource for understanding your install and configuration options for the Smallworld reader/writer - referenced in the article above.
• Smallworld Tutorial: also referenced in the first article. The section Working with Alternatives or Versions in Smallworld has a brief overview of how to use a predicate to extract specific data from your Smallworld VMDS.

FME does not support magik scripts. However, if you can trigger magik calls from the command line you can use SystemCaller, or possibly PythonCaller.

Another option would be using the Spatialbiz plugin for Smallworld.

That plugin works with the Database Edition of FME.

The plugin is able to customize the export, using Magik code.

Have a look at the options here: Spatialbiz Plugin