Holle respected PPS shareholders, The past year 2023, has proven to be more challenging than expected due to several simultaneous risk events, including:

1. Liquidity has been reduced due to the continuous increase in the policy interest rate of the United States. This is because the yield of listed companies is less than the yield of US Treasury bonds, which has lower risk than the Thai stock market, resulting in a weak baht and significantly less money in the Thai capital market. As a result, the Thai stock market continued to fall and become one of the lowest-yielding stock exchanges in the world in 2023.
2. Higher costs due to interest rate hikes have led to higher financing costs of loans and debentures of listed companies, especially small and medium-sized listed companies like ours.
3. There have been various incidents that have undermined the confidence of listed companies, such as some companies defaulting on their debentures, cash flow problems, and recording goodwill. This has resulted in uncertainty in debentures and the Stock Exchange of Thailand.
4. Thailand has just formed a government, delaying the approval of new projects. Payment approvals for various projects have been slowed down. This results in disbursements and causes a lack of liquidity.
5. Tourists, especially Chinese tourists, did not meet the target. As a result, private sector investment related to tourism and the opening of the country, such as the real estate sector, has slowed down projects. Economic and financial problems followed.

New jobs coming in 2023 Backlog 610,109,816 Baht more than the end of 2022, with most of the jobs coming in being hospital work. Improve ancient sites Conservation building Including construction of shopping malls and various community malls in which the company has expertise. For construction management, the company has used technology, both the KANNA and HOLO BUILDER programs, to help with work and generate income.

Regarding continuous development, the company has received additional ISO in IT work, namely ISO27001, and in 2024 aims to receive ISO14064 in sustainability and standards regarding practices for managing the organization's carbon footprint. Will continue to be registered as a carbon footprint assessor in 2024 in order to further expand on the vision of being a Sustainable Consultant as well as continue generating income from PPS Academy which has started operating well since 2023 for In 2024, it is expected to generate continuous income. Build a reputation and attract good and talented personnel to work with the company

In terms of cash flow, the Company has repaid 40% of the debentures. As a result of the rapid growth of tourism in Phuket. Therefore, it is expected that the projects invested by the Company in Phuket will be able to recover and be able to repay the recovered shares by 2024.