The only Ex solar PV player in ASEAN. SET is one of only six Ex solar PV system providers globally and the sole player strategically positioned in ASEAN, holding over 50% market share in the region's O&G industry. Its competitive edge comes from: (i) establishing operations across multiple countries, allowing better access project bids, (ii) space-efficient panels offering higher power density in smaller area, and (iii) an integrated one-stop solution featuring monitoring & control system, diese

SET is set to benefit from foreign investments, Malaysia's National Energy Transition Roadmap (NETR), and PTT Exploration & Production's (PTTEP TB, BUY, TP: THB168) net-zero targets, with plans to expand into Indonesia in 2025. With its NPM of 13% and expected higher exposure to clean energy,