The Purchase of land to develop LPARK-PK

LPN/Sor.Kor/353/2009

November 20, 2009

Subject : The Purchase of land to develop Lumpini Park - Pinklao

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 Park - Pinklao

1. Date of transaction : April 30, 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. : 1820,1821,1822,1823,1308,1309,2458,2459 and 30445

3.2 Total area : 5,188.60 Sq.wah

3.3 Location : Bang Bam-Ru Sub-District, Bang-Plad District, Bangkok

3.4 Landscape : Vacant Land

3.5 Obligation : -None-

4. Total cost : Baht 470,000,000 (Four hundred and seventy million baht only)

5. Payment : 220 million baht was paid by cash and another 250 million baht was paid by AVAL (180 days) 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 30 storey each

7.2 The total units are approximately 2,700 units

7.3 Total revenue of the project is approximately 3,600 MB

7.4 Project will be competed in 17 months (January 2010 to March 2011)

7.5 Selling period is within 6 months

7.6 Transfer the right of ownership and revenue will be recognized in quarter 1 of 2011

7.7 Gross profit margin is approximately 30%

 

Yours sincerely,

 

(Mr. Opas Sripayak)
Managing Director

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