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is foreseen to be a key to slow down the growth in Thai economic recovery, private consumption, and purchasing powers particularly in low-mid income segment. The lower purchasing power might be the key

formation. Hence, the NESDB has cut down its growth forecast for the Thai economy in 2023 to the range of 2.5%-3.0% from the previous forecast of the range of 2.7%-3.7%, which the supporting factors still

projects of the government and state enterprises have slowed down and increased more competition in the market. The majority of the Company's revenue recognized in 2023 comes from government and state

services revenue, which increased by THB 1.63 million (+1.78%). In 2023, customers’ purchasing power began to slow down and significantly declined during the first two quarters of the year, which caused IT

decelerating rate from 1.9% in the previous year, due to the delay of government’s budget allocation. Hence, the NESDB has cut down its growth forecast for the Thai economy in 2024 to the range of 2 .0%-3.0%, in

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