The purchase of land to develop project on Rattanatibet Road
BackOct 01, 2007
LPN/IR18/50
October 2007
Subject : The purchase of land to develop project on Rattanathibet Road
Attention : The Director and Manager The Stock Exchange of Thailand
We would like to inform you of our purchase of land for developing project on Rattanathibet Road with the following details;
| 1. Date of transaction : | 28 September 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.: | 1324, 164726, 164727, 164728, 164729, 11544, 226887, 226888, 226889 and 226890 | |
| 3.2 Total area : | 19 Rai (-) Ngan 59 sq. wah | |
| 3.3 Location : | Tambon Bangkrasor (Bangsoithong) Amphur Muang Nonthaburi (Khwan market) Nonthaburi Province | |
| 3.4 Landscape : | Vacant Land | |
| 3.5 Obligation : | None | |
| 4. Total price : | Baht 222,113,900.- (two hundred twenty two million and one hundred thirteen thousand and nine hundred 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 8 stories residential condominium consisting of 8 buildings. | ||
| 7.2 Approximate total units is 2,000 units | ||
| 7.3 Approximate total revenue of the project is Baht 1,200 million (One thousand two hundred million Bath only) | ||
| 7.4 Project will be completed in 18 months (November 2007 - April 2009) | ||
| 7.5 Selling period is approximately14 months (November 2007 - December 2008) | ||
| 7.6 Starting to transfer the ownership right and recognize income on May 2009 | ||
| 7.7 Approximate gross and net profit are 30% and 20% respectively | ||
| 7.8. Transaction size: By using assets criteria is equal to 3.15% or |
222.11 x 100 7,062.22 | |
Please be informed accordingly,
Yours sincerely,
(Opas Sripayak)
Managing Director
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