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Policy and business overview

CHAOPRAYAMAHANAKORN PUBLIC COMPANY LIMITED (“the Company” or “CMC”) was founded on 26 April 1994 by the Paetthayanan Family, with an initial registered capital of THB 5,000,000. CMC which has been managed by Mr. Vichien Paetthayanan engages in the business of property development. CMC was converted into a public company on 2 September 2009.  Its existing registered capital is THB 1 billion, consisting of 1 billion ordinary shares with a par value of THB 1 each. CMC has three subsidiairies, namely Paya Panich Property Co., Ltd. (“PPP”), Siam Mahanakorn Property Co., Ltd. (“SMP”) and Thai Siam Nakorn Property Co., Ltd. (“TSN”). CMC and all subsidiaries are collectively called “the Group of Companies” or “ CMC and its subsidiaries” or “CMC and its affiliates”.

  1. Residential Property Development Business

Residential property development business includes condominium, townhouse, townhome and single detached house. Chaoprayamahanakorn Public Company Limited (“CMC”) has focused mainly on condominium. Most of CMC’s condominium projects are located in the area which are close to mass transporation lines and conveniently accessible. The firms in the Group of Companies which have engaged in this business are CMC which targets clients with low-to medium-income levels and Paya Panich Property Co., Ltd. (“PPP”) which targets clients with medium-income level.

  1. Business of Property Development for Lease

Business of property development for lease has been run by Siam Mahanakorn Property Co., Ltd. (“SMP”). The main asset in this business is CMC Tower which is a 7-storey office building, with approximate area of 3,983 sq.m. At present, total area of 3,588 sq.m., accounting for approximately 90% of total area in the building, is leased by the Group of Companies. SMP has leased some parts of Floor 4 to a non-related party.

Currently, Siam Mahanakorn Property Co., Ltd. runs an 8-storey condomimium called “Chateau in Town Ratchada 36” and is preparing to develop another project called “Chateau in Town Ratchada 36-2”. Both projects are located on plots of land which SMP acquired in the Year 2000.

  1. Construction Contractor Business and Furniture and Wall Manufacturing Business

Construction contractor business has been run by Thai Siam Nakorn Property Co., Ltd. (“TSN”) with the main aim to support project constructions for CMC, PPP and SMP. In case of TSN has available capacity, TSN will provide insubstantial construction services to outer group companies such as building renovation, parking, in order to generate more revenues. For future operation of TSN, it will still mainly serve the Group of Companies by focusing on less labor intensive and low risk jobs with high margin such as in-building construction. High risk ones will be outsourced to construction contractors. Also, TSN has other business units to support CMC’s main business. They consist of: • Furniture factory which has produced kitchenware, door, mailbox, precast wall, EPS wall and etc to support construction activities of the Group of Companies. This would help the Group of Companies to manage project development costs, control project construction period and manage construction site environment.