News Detail

Date/Time
25 Apr 2019 17:05:00
Headline
Clarification of news or information requested by SET-Attatchment2
Symbol
AQ
Source
AQ
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                SET requests to clarify news or information


Subject                                  : Clarification of news or information 
requested by SET
Description                              :
Basic Information ( )
Krung Thai Land Development Company Limited ("KT Land", "Company")
Date of Established Company Registration    :    28 March 1988
Location of Head Office    :    3675 Rama IV Road, Phrakanong Subdistrict, Khlong Toei
 District, Bangkok 10110
Nationality    :    Thai
Authorized Capital    :    350,000,000 baht
Paid-up Capital
Number of Ordinary Shares    :
:    350,000,000 Baht
350,000 shares
Conducting Business     :    The company operates the real estate business of The 
Portrait Rama 4-Sukhumvit 38 Project.

Board of Directors of Company
No.    List of Directors    Nationality    Position
1    Mr. Preecha Laohapongchana    Thai    Authorized Director Signature
2    Miss Chavaporn Laohapongchana    Thai    Authorized Director Signature
3    Mr. Tharit Udomcharoenchaikit        Thai    Authorized Director Signature


Majority Shareholder of Company
No.    List of Shareholders    Nationality    Number of shares    Proportion
1    Mr. Preecha Laohapongchana    Thai    240,000    68.57%
2    Mr. Sivasit Laohapongchana    Thai    52,500    15.00%
3    Mr. Tharit Udomcharoenchaikit    Thai    5,000    1.43%
4    Mr.Chuwat Laohapongchana    Thai        52,500  15.00%
Total    350,000    100.00%



Opinion of Analysis Department
The total assets value in accounting of company current situation is 1,265.59 
million baht which adjusted book value, according to the property valuation
report prepared by Siam City Appraisal Company Limited as at 2 November 2017 and
conducted land and improvement assessment of "Portrait Condominium Rama 4
Project", which is the company project. The total of company assets after
accounting adjustment are 1,434.84 million baht when deducted from the company
total liabilities, totalling 1,047.74 million baht. The value of shareholders'
equity after the accounting adjustment is 387.11 million baht.
Nevertheless, the group of 4 company shareholders are famous person in the 
political and real estate development business. Such group of company
shareholders are holding ordinary shares in various proportion of 4 other
companies such as:
1)    Triple P Assets Company Limited
2)    Chao Phaya Insurance Public Company Limited
3)    Krung Thai Tractor Company Limited
4)    Reuziti (Thailand) Company Limited
When considering such proportionate shareholding in above 4 companies, the group
of company shareholders holding assets in other companies valued at 1,481.01
million baht and paid-up authorized capital of 517.14 million baht.
However, the value of company shareholders' equity is equal to 387.11 million 
baht, including reputation and property value of shareholders group of 4 other
companies holding are 1,481.01 million baht that show such shareholders group of
company has potential to repay the loan agreement worth 412 million baht by
selling company assets both the company and other companies more than the value
of loan agreements to such repayment if demand and repayment from investor which
 is AQ Estate Public Company Limited.



    


                         Signature ___________________________
                                    ( Mr.Suthad Chankingthong   Ms.Ranchana 
Rajatanavin )
                                    Director   Director
                         Authorized to sign on behalf of the company

______________________________________________________________________
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