reasons as follow; 1) The price of official assessment yearly 2016-2019 is assessed from land allocation request with the name of City Plus Tepharak Project (“City Plus”) known as K.C. Park Ville Bangna

market value The market value assessed by an independent appraisal is THB 13.89 per share. The total market value is THB 30,560,000. As a consequence of that, the Company therefore considers the highest

past transactions of THB 14.09 per share and assessed by the Discounted Cash Flow Approach by an independent appraisal of THB 13.89 per share. The total market value is THB 30,560,000. In this regard

nor significantly different from the average values of the land assessed by an independent appraiser approved by the SEC. An appraiser is Ultima Appraisal Company Limited, who made an assessment on 3

) Criteria for Valuation of Transaction The company offered for sale by the price neither lower than nor significantly different from the average values of the land assessed by an independent appraiser

of the Securities and Exchange Commission No. SorThor. 23/2549 Re: Calculation and Report of Net Liquid Capital Calculation _____________ By virtue of Section 109 of the Securities and Exchange Act B.E

Securities and Exchange Commission No. SorThor. 23/2549 Re: Calculation and Report of Net Liquid Capital Calculation _____________ By virtue of Section 109 of the Securities and Exchange Act B.E. 2535 (1992

calculation as the transaction value, the total transaction value shall be equivalent to 185.54 percent calculated based on the Net Tangible Asset Basis which is the basis that results in the highest

Exchange Commission Notification of the Securities and Exchange Commission No. SorThor. 24/2550 Re: Calculation and Report of Net Liquid Capital Calculation (No. 2) _____________ By virtue of the third

Commission Notification of the Securities and Exchange Commission No. SorThor. 24/2550 Re: Calculation and Report of Net Liquid Capital Calculation (No. 2) _____________ By virtue of the third paragraph of