Lumpini Place Pinklao 2
Attention: The Director and Manager The Stock Exchange of Thailand
We would like to inform you of our purchase of land for developing project with the following details:
Purchase of land for developing project Lumpini Place Pinklao 2
| 1. |
Date of transaction: 29 July 2005 |
| 2. |
Contracted parties: Juristic Person with no related benefit with the Company |
| 3. |
Details of the land:
| 3.1 |
A land title deed no. 2533, 5345, 16680, 22595, 61974 with the total area of 1,749 sq.wah |
| 3.2 |
Location: Bang Bumru, Bangkok Noi, Bangkok |
| 3.3 |
Landscape: Vacant Land |
| 3.4 |
Obligation:None | |
| 4. |
Total price: Baht 100,000,000.- (One hundred million Bath only) |
| 5. |
Payment: All Payment was made on the day of ownership transference |
| 6. |
Sources of fund: Profit from the operation of the Company and financial institution. |
| 7. |
Benefits on the listed company:
| 7.1 |
The Company will develop this plot of land into 26 storey residential condominium consisting of 1 building with the total units of 651 |
| 7.2 |
Approximate total revenue of the project is Baht 1,200 million (One thousand and two hundred million Bath only) |
| 7.3 |
Project will be completed in 18 months (October 2006 May 2008) |
| 7.4 |
Selling period is within 9 months (September 2006 June 2007) |
| 7.5 |
Starting to transfer the ownership right and recognize income on May 2008 |
| 7.6 |
Approximate gross and net profit are 30% and 20% respectively | |
| 8. |
Transaction size: By using assets criteria is equal to 1.79 % or
1,000,000 X 100
5,587,687,183.72 |
Yours sincerely,
(Opas Sripayak)
Managing Director