The Purchase of land to develop LV-LC4

LPN/Sor.Kor/352/2009

November 20, 2009

Subject : The Purchase of land to develop Lumpini Ville Latphrao-Chokechai 4

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 Latphrao-Chokechai 4

1. Date of transaction : October 16, 2009

2. The parties : Juristic Person with no related benefit with the Company

3. Details of the Land

3.1 A land title deed no. : 5382 and 35776

3.2 Total area : 2,970 Sq.wah

3.3 Location : Wang Thong Lang Sub-District, Bang-Krapi Distric, Bangkok

3.4 Landscape : Vacant Land

3.5 Obligation : -None-

4. Total cost : Baht 222,750,000 (Two hundred Twenty two million and Seven hundred Fifty Thousand baht only)

5. Payment : All payments were made on the day of the ownership was transferred

6. Sources of fund : from the company's profit and from financial institution

7. Benefits to the company

7.1 This plot of land will be developed into residential condominium which consisting of 2 buildings with 18 storey each

7.2 Total units are approximately 1,020 units

7.3 Total revenue of the project is approximately 1,300 MB

7.4 Project will be competed in 13 months (November 2009 to November 2010)

7.5 Selling period is within 6 months

7.6 Transfer the right of ownership and revenue will be recognized in quarter 4 of 2010

7.7 Gross profit margin is approximately 30%

 

Yours sincerely,

 

(Mr. Opas Sripayak)
Managing Director

 

Attachments