Noble Engineering Group Holdings Limited announced that, on 21 February 2023, the Group entered into the letter of intent with Thai Race Horse Co., Limited, a subsidiary of Thai Royal Horse Group, which expressed its intent to award a contract for construction services in relation to phase 1 of Thailand Race Horse Industrial Park project which involve project management, construction advice, construction cooperation with local contractors, and construction supervision (the "Contract Works") with the Group. Based on the correspondence between the Group and Thai Race Horse, it is expected that the Contract Works will commence in late April of 2023. Subject to the completion of all Contract Works, the total contract sum of the Proposed Contract is expected to be approximately THB 3.1 billion and the Proposed Contract is expected to be completed in late 2025.