More clarification by/on PSP.

On Mon, Sep 29, 2025 at 3:09 PM I received the following reply from PSP, to share in confidence with members here, then see how I him back answer below:

Dear Mr. Paul Renaud,
Thank you for sharing your report. I’ve reviewed the commentary and would like to offer a few clarifications and suggestions for accuracy and context as follow:

The statement “Offsetting-correlation. Opposites attract. One of the attractions of gold is that it often moves opposite to generally perceived "good news" may be somewhat misleading when applied to PSP. While PSP does not typically move in the opposite direction of the Thai stock market, it does show low correlation, with a beta of 0.21 This suggests PSP may help reduce portfolio volatility through diversification, rather than acting as an asset that reacts inversely to market sentiment.

The commentary mentions PSP producing coolants for engines and servers. To clarify, the Immersion Cooling Fluid developed with Eco Atlas and Evonik is intended only for server/data center cooling — not for engine applications. However, in addition to coolants for the data center sector, PSP also has coolants for Internal Combustion Engine (ICE) vehicles and Electric Vehicles (EVs).

An English version of the PSP fact sheet is available and may be more suitable for international readers: English Fact Sheet – SET Snapshot

Please let me know if you need any further details or supporting documents.

Best Regards,

Tananya Raemonkon (Bab)

Strategic Analyst

P.S.P. Specialties Public Company Limited

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Hello K. Bab,

Thanks allot for these comments back and clarification on coolants.

It was good to read PSP historical beta' is only 0.29 as it means it's even less correlated to SET movements which would likely imply, as I state very, very little correlation to any US stock market set back which many including I believe is in a bubble. (see a comment I just posted on LinkedIn).  

The SET index itself in recent years has been less and less US mkt. correlated, hence the statement of PSP being an attractive global portfolio inclusion, of course with other such, as diversification is always key.  Not least, PSP pays an attractive and seemingly increasing dividend, which unlike gold, which has 0 yield.

Yes, in my member article I include the link to An English version of the PSP fact sheet.

Thank you and happy to be in touch here,

Best Regards,

" It's been reported that presently absolute record amount of US people, and foreigners, own US stocks. A level never seen before. A strong contrary indicator -and this has to be the ultimate one? "Climbing the wall of worry", seems to have given away to everybody's US stocks bullish."