The Purchase of land to develop Lumpini Place Ratchayothin
BackJan 07, 2010
LPN/Sor.Kor/06/2010
January 7, 2010
Subject : The Purchase of land to develop Lumpini Place Ratchayothin
Attention : The Director and Manager, The Stock Exchange of Thailand
L.P.N. Development Public Company Limited would like to inform you our purchase of land for developing project with the following details:
Purchase of land for developing Lumpini Place Ratchayothin
| 1. Date of transaction | : January 7, 2010 |
| 2. The parties | : Metrostar Property Public Company Limited |
| 3. Details of the Land | |
| 3.1 A land title deed no. | : 66406, 66407, 87688, 87689, 87690, 87718, 101286, 111543, 111544, and 111545 |
| 3.2 Total area | : 5,921 Sq.wah |
| 3.3 Location | : Kweang Ladyao, Khet Bangkhen (Bangsue), Bangkok |
| 3.4 Landscape | : Vacant Land |
| 3.5 Obligation | : -None- |
| 4. Total cost | : Baht 680,915,000 (Six hundred eighty million and nine hundred fifteen thousand baht) |
| 5. Payment | : All payments were made on the day of the ownership was transferred |
| 6. Sources of fund | : from the company's profit and from financial institution |
| 7. Benefits to the company | |
| 7.1 This plot of land will be developed into residential condominium which consisting of 4 buildings with 22 storey each | |
| 7.2 Total units are approximately 1,964 units | |
| 7.3 Total revenue of the project is approximately 3,000 MB | |
| 7.4 Project will be competed in 15 months (April 2010 to June 2011) | |
| 7.5 Selling period is within 6 months | |
| 7.6 Transfer the right of ownership and revenue will be recognized in quarter 3 of 2011 | |
| 7.7 Gross profit margin is approximately 30% | |
Yours sincerely,
(Mr. Opas Sripayak)
Managing Director
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