The purchase of land to develop project
BackMar 07, 2007
LPN/IR4/50
March 4, 2007
Subject : The purchase of land to develop Lumpini Condotown Ram-Indra - Laksi Project
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 Ram-Indra Project
| 1. Date of transaction : | March 2, 2007 |
| 2. Contracted parties : | Ordinary Person and Juristic Person with no related benefit with the Company |
| 3. Details of the land : | 3.1 A land title deed no. : 37149,127828,157066,157067,157068,157069, 157070 and 157071 |
| 3.2 Total area : 25 Rai 1 Ngan 76.3 sq.wah | |
| 3.2 Location : Anusawaree (Koobdaeng) Bangkhen, Bangkok | |
| 3.3 Landscape : Vacant Land | |
| 3.4 Obligation : None | |
| 4. Total price : | 410,000,000 Baht- (Four hundred and Ten Million Baht only) |
| 5. Appraised Value : | 328,325,400 Baht (Three Hundred Twenty Eight Million Three Hundred and Twenty Five Thousand Four Hundred Baht only) |
| 6. Asset Valuer : | Treasury Department, Ministry of Finance |
| 7. Payment : | All Payment was made on the day of ownership transference |
| 8. Sources of fund : | Profit from the operation of the Company and financial institution. |
| 9. Benefits on the listed company : | 9.1 The Company will develop this plot of land into 8 and 14 stories residential condominium consisting of 9 buildings |
| 9.2 Total units are 2,700 | |
| 9.3 Approximate total revenue of the project is Baht 1,600 million (One Thousand and Six hundred million Bath only) | |
| 9.4 Project will be completed in 18 months (April 2007 - September 2008) | |
| 9.5 Selling period is within 12 months (April 2007 - March 2008) | |
| 9.6 Starting to transfer the ownership right and recognize income on September 2008 | |
| 9.7 Approximate gross and net profit before tax are 30% and 20% respectively | |
| 10. Transaction size : | By using assets criteria is equal to or (410 x 100)/5,969.80 = 6.87 % |
Yours sincerely,
(Opas Sripayak)
Managing Director
