and globally. Hence, we expect the good performance in 2021 to continue to trend upwards into 2022. Yours sincerely, Mr. Yeap Swee Chuan President & CEO http://www.aapico.com/ http://www.aapico.com/

private consumption and investment. However, economic expansion remains at risk due to higher cost of living, the rising of household debts amid an upward trend of interest rates, the increasing of interest

expansion is still subjected to the rising cost of living, in which the inflation rate in 4Q/2022 reached 5.8%, the household debt ratio is considered high amid the increasing trend of interest burden but

from the wholesale business decreased due to competition from larger competitors within the dealer customer group. However, the trend for franchises has improved, even though it cannot fully compensate

แบบ delivery versus payment รวมทั้งก าหนดจุดเวลาที่ให้ถือว่าเป็นที่สุด (finality of settlement) - การให้บริการเป็นศูนย์รับฝากหลักทรัพย์ : มีระบบฝาก ถอน โอนหลักทรัพย์ โดยไม่มี ข้อก าหนดที่เป็นการจ ากัด

international sales declined dramatically at 46.03% compared to the same period of the previous year. One of the issues was the delayed product delivery after the license was issued from China Food and Drug

much time in delivery and inspection of the equipment. Therefore, the Company had paid the money to the one. Current portion of long-term loans decreased from the year 2017 due to the repayment of long

delivery charge. 5. Cost of sales of pipes for the year 2019 was 88.15% of income. The cost per income rate decreased from the year 2018 which was 91.56 percent of income. The major reason was the cost of

resulted from the delay of project to improve and add CCTV which had a low gross margin as well as the increase in cost of ERP project incurred during the final delivery period. Retail business In 3Q17, the

of price correction under Clause 4(3) in the newspaper, cheque issuance fees, charges for delivery of price compensation to the relevant purchasers and the person who made redemption of the investment