The Purchase of land to develop Lumpini Ville Bangkhae
BackDec 12, 2008
LPN/SorKor/219/2008
December 11, 2008
Subject : The Purchase of land to develop Lumpini Ville Bangkhae
Attention : The Director and Manager The Stock Exchange of Thailand
L.P.N. Development Public Company Limited would like to inform you our purchase of land for developing project with the following details:
Purchase of land for developing Lumpini Ville Bangkhae
1. Date of transaction : October 2, 2008 2. Contracted parties : Juristic Person with no related benefit with the Company 3. Details of the Land : 6646 : 1 Rai 3 Ngan 24 Sq.wah 3.3 Location
: Bangwah Sub-District, Phasi-Charoen District, Bangkok 3.4 Landscape
: Vacant Land 3.5 Obligation
: None 4. Total price : Baht 36,440,000 (Baht: Thirty six million four- hundred and forty thousand) 5. Payment : All payment was made on the day of ownership transference 6. Sources of found : Profit from the operation of the company and financial institution. 7. Benefits on the listed company
7.1 The company will develop this pilot of land into 1 residential condominium building,consisting of 22 stories
7.2 Approximately 271 units
7.3 Total revenue of the project is approximately Baht 350 Million
7.4 Project will be competed in 16 months (January 2009 - March 2010)
7.5 Selling period is within 2 months (December 2008 - January 2009)
7.6 Starting to transfer the right of ownership and will recognize income on May 2010
7.7 Gross and net profit before tax is approximately 30% and 22% respectively
7.8 Transaction size : By using assets criteria = 36.44 x 100 = 0.48 7,575.95
Yours sincerely,
(Mr.Opas Sripayak)
Managing Director
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