PTT Oil and Retail Business Public Company Limited (OR)'s Board of Directors, at meeting No. 12/2566 on December 19, 2023, passed the resolution to establish a new subsidiary which is held 100% stake by Modulus Venture Company Limited (Modulus), a wholly-owned subsidiary of OR, with the initial registered capital not exceeding THB 281 million. The objectives of the subsidiary are to manage an operational workforce, increase the efficiency of operating expenses, and serve for OR business expansion in the future.