Dear valued investors,
Supalai Public Company Limited is pleased to inform you that the company has won an auction to acquire a piece of land near Ratchadaphisek road and Thailand Cultural Centre MRT station from FIDF on 17Aug11. The land is 33-0-81.8 rai (approximately 13.2 acres) in size.
The winning bid was worth 1,815 million Baht, in which the company uses the internal cash flow to finance the purchase of this land. The purchase is made with Board of Director's approval before the company entering the auction, and was within the company's 2011 land acquisition budget. Therefore, this purchase will not negatively alter the company's net gearing position or ability to purchase further land bank this year.
This piece of land can be developed in all kinds of residential units, including low-rise and high-rise condominium buildings. However, the exact details of the development will not be disclosed at this time.
Best Regards,
SPALI Investor Relations