Perchase Land to develop Project Lumpini Ville Ramkumhang 44
BackJul 18, 2006
Subject: The purchase of land to develop project on Lumpini Ville Ramkumhang 44
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 on Lumpini Ville Ramkumhang 44
1.Date of transaction: 5 April 2006
2.Contracted parties :Ordinary Person with no related benefit with the Company
3.Details of the land :
3.1 Total land title deeds: 7 with the total area of 1,856 sq.wah4.Total price :Baht 115,072,000.- (One hundred fifteen million seventy two thousand Bath only)
3.2 Location: Huamark, Bangkapi , Bangkok
3.3 Landscape : Vacant Land
3.4 Obligation : None
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 23 stories residential condominium 2 buildings, with the total units of 827.
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 (July 2006 - January 2008)
7.4 Selling period is approximate 9 months (July 2006 - April 2007)
7.5 Starting to transfer the ownership right and recognize income on January 2008
7.6 Approximate gross and net profit are 30% and 16% respectively
8.Transaction size :By using assets criteria is equal to 2.01%
or 115,072,000 X 100
5,729,794,280.41
Yours sincerely,
(Opas Sripayak)
Managing Director
