The purchase of land to develop project
BackJun 26, 2007
LPN/IR9/50
June 21, 2007
Subject : The purchase of land to develop Lumpini Condotown Ramkhamhaeng 26 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 Lumpini Condotown Ramkhamhaeng 26 Project
| 1. Date of transaction : | May 9, 2007 | |
| 2. Contracted parties : | Juristic Person with no related benefit with the Company | |
| 3. Details of the land : | ||
| 3.1 A land title deed no. : | 1971, 173335, 173339, 173340, 173341, 173342, 186829, 186881, 186882, 186883 | |
| 3.2 Total area : | 10 Rai 1 Ngan 64 sq.wah | |
| 3.2 Location : | Tambon Huamark (Huamark Tai) Amphur Bangkapi Bangkok | |
| 3.3 Landscape : | Vacant Land | |
| 3.4 Obligation : | None | |
| 4. Total price : | 161,110,000 Baht (One hundred Sixty One Million One Hundred and Ten Thousand Baht 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 4 buildings consisting of 8 stories residential condominium | ||
| 7.2 Total units are 1,089 | ||
| 7.3 Approximate total revenue of the project is Baht 800 million (Eight Hundred million Bath only) | ||
| 7.4 Project will be completed in 18 months (November 2007 - April 2009) | ||
| 7.5 Selling period is within 12 months (November 2007 - October 2008) | ||
| 7.6 Starting to transfer the ownership right and recognize income on February 2008 | ||
| 7.7 Approximate gross and net profit before tax are 30% and 20% respectively | ||
| 7.8 Transaction size : By using assets criteria is equal to = (161.11 x 100)/7,076.36 = 2.28 % | ||
Yours sincerely,
(Opas Sripayak)
Managing Director
