TH EN

Company's Overview

The Shareholder's Structure

The company and subsidiaries operate in the property development business, with the focus in single houses and condominiums in the Greater Bangkok. The subsidiaries and associated companiesoperate in five business: 1) Property development group 2) Rental property and hotel group 3) Retail group 4) Construction group 5) Service group. The structure as of 31 December 2019 is as follows;

Property Development Units

The company and subsidiaries are mainly involved with the property development for sale. The projects involve the development of single detached houses, townhouses, and condominiums. Details are as follows;

Property Perfect Public Company Limited ("The Company")

Developing housing estates, town house and condominiums. As of 31 December 2019, a total of 38 projects are under development with outstanding value of Bt29,737.20 million. (Additional information on the projects of the company and subsidiaries are in Graphic: Project by Type)

Note: Exclude project’s of Grande Asset Hotels and Property Plc.

Estate Perfect Company Limited (Subsidiary)

Estate Perfect Company Limited, (“Estate”) is located at 17th Floor, Vorasombat Bldg., 100/1 Rama IX Road, HuayKhwang, Bangkok. It was established in 1994, to develop single detached houses, duplex house and townhouses, with focus on potential locations. Estate is now capitalized at Bt1,200 million at Bt10 par while the paid-up capital totaled Bt1,200 million. The company now owns 100% of Estate.

As of 31 December 2019, Sale of Estate’s 11 projects is underway, and the remaining value of the unsold units is Bt7,104.54 million.(Additional information on the projects of the subsidiaries are in Graphic: Project by Type)

As of 31 December 2019, Estate Perfect Company Limited’s 5 directors are:

Name Position
1. Ms.Sirirat Wongwattana Director
2. Mr.Krittapas Pongpakawat Director
3. Mr.Pornswat Katechulasriroj Director
4. Mr.Wicharn Sirivejwarawut Director
5. Mr.Wason Srirattanapong Director
Bright Development Bangkok Company Limited (Subsidiary)

Bright Development Bangkok Company Limited (“Bright”) is Located at 17th Floor, Vorasombat Building,100/1 Rama IX Road, HuayKwang, Bangkok, Bright Development was established on 2007 for condominium development. At present , Bright Development Bangkok Company Limited is now capitalized at Bt1,000 million, all paid up. The company holds 100% in Bright.

As of 31 December 2019, Bright planned 9 condominium projects and,the remaining value ofunsold units isBt5,428.50 million (Additional information on the projects of the subsidiaries are in Graphic: Project by Type).

As of 31 December 2019, Bright Development Bangkok Company Limited’s 5 directors are;

Name Position
1. Mr.Wongsakorn Prasitvipat Director
2. Ms.Sirirat Wongwattana Director
3. Mr.Pornswat Katechulasriroj Director
4. Mr.Sumeth Suwajanakorn Director
5. Mr.Kritapas Pongpakawat Director
Residence Number Nine Company Limited (Subsidiary)

Residence Number Nine Company Limited (“Residence”) is located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, is capitalized at Bt1,000 million. Owned 100% by the company, The subsidiary is tasked to develop low-rise small-scale housing projects in potential locations. Its target groups are new families, looking for single houses and townhouses valued between Bt1.9-Bt6 million.

As of 31 December 2019, Residence’s 6 projects are now marketed , The remaining value of unsold units isBt3,742.36 million. (Additional information on the projects of the subsidiaries are in Graphic: Project by Type)

As of 31 December 2019, Residence Number Nine Company Limited’s 4 directors are:

Name Position
1. Mr.Pornswat Katechulasriroj Director
2. Mr.Sunphet Sukasem Director
3. Mr.Pornchai Ketlek Director
4. Mr.Kritapas Pongpakawat Director
Chiangmai Development Company Limited (Subsidiary)

Chiangmai Development Company Limited (“Chiangmai”) is located at 17th Floor, Vorasombat Building , 100/1 Rama IX Road, HuayKwang, Bangkok. It is registered with Bt200 million .The company holds 100% in the subsidiary. Established on 21 February 2013, the subsidiary is tasked to expand the company’s residential development business for sale and rental . Its focus is on low-rise development in Chiang Mai province. Chiangmai kicked off land development in preparation for the launch of a property project.

As of 31 December 2019, Chiangmai Development Company Limited’s 4 directors are:

Name Position
1. Mr.Wongsakorn Prasitvipat Director
2. Mr.Pornswat Katechulasriroj Director
3. Mr.Wason Srirattanapong Director
4. Mr.Kritapas Pongpakawat Director
HKL Perfect Company Limited (Joint Venture)

HKL Perfect Company Limited is a joint venture with HKL (Thai Development) Company Limited which is a business unit of Hongkong Land Company Limited. It was established on 17 May 2018 to invest in a property development project for sale. It is located at 17th Floor, Vorasombat Building,100/1 Rama IX Road, HuayKwang, Bangkok. It is registered with Bt40million capital, 100% paid up. The company holds 51% in the joint venture.

As of 31 December 2019, HKL Perfect Company Limited’s 4 directors are:

Name Position
1. Mr.Wongsakorn Prasitvipat Director
2. Ms.Sirirat Wongwattana Director
3. Mr.Tan Wee Hsien Director
4. Ms.Ong Lay Kuan Director
PFHKL 1 Company Limited (Joint Venture)

PFHKL 1 Co.,Ltd. is a 100%-owned subsidiary of HKL Perfect Co., Ltd, established on 5 March 2018. Located at 10th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale in Chaeng Wattana area. It is registered with Bt5 million capital, 100% paid up.

As of 31 December 2019, PFHKL 1 Company Limited’s 4 directors are:

Name Position
1. Mr.Wongsakorn Prasitvipat Director
2. Ms.Sirirat Wongwattana Director
3. Mr.Tan Wee Hsien Director
4. Ms.Ong Lay Kuan Director
PFHKL 2 Company Limited (Joint Venture)

PFHKL 2 Co.,Ltd. is a 100%-owned subsidiary of HKL Perfect Co., Ltd, established on 7 March 2018. Located at 20th Floor, Gaysorn Plaza Building, Unit B, 127 Ratchdamri Road, Lumpini, Pathumwan, Bangkok. , it engages in the development of a property project for sale in Chaeng Wattana area. It is registered with Bt5 million capital, 100% paid up.

As of 31 December 2019, PFHKL 2 Company Limited’s 4 directors are:

Name Position
1. Mr.Wason Srirattanapong Director
2. Mr.Wason Srirattanapong Director
3. Mr.Tan Wee Hsien Director
4. Mr.William James park Bright Director
PFHKL 3 Company Limited (Joint Venture)

PFHKL 3 Co.,Ltd. is a 100%-owned subsidiary of HKL Perfect Company Limited, established on 16 August 2018. Located at 10th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale near Suvarnabhumi Airport. It is registered with Bt5 million capital, 100% paid up.

As of 31 December 2019, PFHKL 3 Company Limited’s 4 directors are:

Name Position
1. Mr.Wongsakorn Prasitvipat Director
2. Ms.Sirirat Wongwattana Director
3. Mr.Tan Wee Hsien Director
4. Ms.Ong Lay Kuan Director
PFHKL 4 Company Limited (Joint Venture)

PFHKL 4 Co.,Ltd. is a 100%-owned subsidiary of HKL Perfect Company Limited, established on 27 September 2019. Located at 20th Floor, Gaysorn Plaza Building, Unit B,127 Ratchdamri Road, Lumpini, Pathumwan, Bangkok, it engages in the development of a property project for sale near Suvarnabhumi Airport. It is registered with Bt5 million capital, 100% paid up.

As of 31 December 2019, PFHKL 4 Company Limited’s 4 directors are:

Name Position
1. Mr.Wason Srirattanapong Director
2. Mr.Thiti Inklinpan Director
3. Mr.William James park Bright Director
4. Mr.Lee Hak Ching Terence Director
PFHKL 5 Company Limited (Joint Venture)

PFHKL 5 Co.,Ltd. is a 100%-owned subsidiary of HKL Perfect Company Limited, established on16 May 2019. Located at 10th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale at Chaengwattana Road. It is registered with Bt5 million capital, 100% paid up.

As of 31 December 2019, PFHKL 5 Company Limited’s 4 directors are:

Name Position
1. Ms.Sirirat Wongwattana Director
2. Mr.Wason Srirattanapong Director
3. Mr.Tan Wee Hsien Director
4. Mr.Lee Hak Ching Terence Director
PFHKL 6 Company Limited (Joint Venture)

PFHKL 6 Company Limited is a 100%-owned subsidiary of HKL Perfect Company Limited, established on 24 May 2019. Located at 10th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale at Chaengwattana Road. It is registered with Bt5 million capital, 100% paid up.

As of 31 December 2019, PFHKL 6 Company Limited’s 4 directors are:

Name Position
1. Mr.Wongsakorn Prasitvipat Director
2. Mr.Anucha Tantrawanich Director
3. Ms.Ong Lay Kuan Director
4. Mr.William James park Bright Director
PF-Sekisui JV Company Limited (Joint Venture)

PF-Sekisui JV Company Limited is a joint venture of the Company and Sekisui Chemical Company Limited which engages in high-quality plastic materials and equipment, products related to urban cities’ infrastructure and environment, house construction and other property-related businesses in Japan and other countries. The joint venture is Located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok. Established on 15 June 2018, it is set to develop property projects for sale. It is registered with Bt200 million capital, fully paid up. The Company owns a 51% stake in the joint venture.

As of 31 December 2019, PF-SEKISUI JV Company Limited’s 4 directors are:

Name Position
1. Mr.Rungroj Singhthanadkij Director
2. Mr.Saranyu Adhyanasakul Director
3. Mr.Michio Sakai Director
4. Mr.Tetsuji Ando Director
PF Forestry Company Limited (Joint Venture)

PF Forestry Company Limitedis a joint venture of the Company and Sumitomo Forestry Singapore Ltd. (“Sumitomo”) which is a business unit ofSumitomo Forestry Co.,Ltd., It was established on14 February 2019 to invest in a property development project for sale. Located at Located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, Huay Kwang, Bangkok,It is registered with Bt500 million capital, fullypaid up. The company holds 51% in the joint venture.

As of 31 December 2019, PF Forestry Company Limited’s 4 directors are:

Name Position
1. Mr.Wongsakorn Prasitvipat Director
2. Ms.Sirirat Wongwattana Director
3. Mr.Atsuhisa Ogura Director
4. Mr.Kenji Aiura Director
PFS1 Company Limited (Subsidiary)

PFS1 Company Limited (Subsidiary)is a 100%-owned subsidiary of PF Forestry Company Limited established on 15 February 2019. Located at 10th floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale at New Ratchapruek area. It is registered with Bt280 million capital, 100% paid up.

As of 31 December 2019, PFS1 Company Limited’s 2 directors are:

Name Position
1. Mr.Prakit Ruekpredapong Director
2. Mr.Kenji Aiura Director
PFS2 Company Limited (Subsidiary)

PFS2 Company Limited (Subsidiary) is a 100%-owned subsidiary of PF Forestry Company Limitedestablished on 15 February 2019. Located at 10th Fl., LC room, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale at New Ratchapruek area. It is registered with Bt210 million capital, 100% paid up.

As of 31 December 2019, PFS2 Company Limited’s 2 directors are:

Name Position
1. Mr.Ekachai Pukdeemakanon Director
2. Mr.Atsuhisa Ogura Director
Grand Star Company Limited (Joint Venture)

Grand Star Company Limited is a joint venture of Sumitomo Forestry Company Limited, Grande Asset Hotels and Property Public Company Limited, and Property Perfect Public Company Limited. It was established on 22 May 2017 with Bt1,200 million in registered capital. The Company holds an 11% stake in Grand Star. It is located at 32nd Floor,Exchange Tower, Room 3203-4, 388 Sukhumvit Road, Khlong Toei, Bangkok.

As of 31 December 2019, Grand Star Company Limited’s 4 directors are:

Name Position
1. Mr.Chainid Adhyanasakul Director
2. Mr.Vitavas Vibhagool Director
3. Mr.Atsuhisa Ogura Director
4. Mr.Kazuhiko Matake Director
Grand River Forest Company Limited (Joint Venture)

Grand River Forest Company Limited is a joint venture of Sumitomo Forestry Company Limited, Grande Asset Hotels and Property Public Company Limited and Property Perfect Public Company Limited, located at 32nd Floor, Exchange Tower, Room 3203-4, 388 Sukhumvit Road, Khlong Toei, Bangkok. Established on 6 July 2018, the joint venture invests in a property development project for sale on Charoennakorn Road. The initial registered capital of Bt400million is fully paid up. The Company holds a 9% stake in the joint venture.

As of 31 December 2019, Grand River Forest Company Limited’s 4 directors are:

Name Position
1. Mr.Chainid Adhyanasakul Director
2. Mr. Vitavas Vibhagool Director
3. Mr.Kazuhiko Matake Director
4. Mr.Atsuhisa Ogura Director

Rental property and hotel group

Thai Property Public Company Limited (Subsidiary)

Thai Property Plc. (TPROP) is located at 29thFloor, Charn Issara Tower 2, 2922/305-306 Petchaburi Road, Bang Kapi, HuayKwang, Bangkok. It was registered as a public company on 10 May 1994 to real estate development. Thai Property has Bt3,353,702,060 in registered capital and Bt3,193,185,471 is paid-up. The Company owns 94.60% in the subsidiary. Thai Property later sought a voluntary delisting from the Stock Exchange of Thailand and the SET’s board approved the delisting on 9 December 2016.

As of 31 December 2019, Thai Property Public Company Limited’s 5 directors are:

Name Position
1. Dr.Bhichit Rattakul Director
2. Mr.Pramote Remyindee Director
3. Mr.Pornswat Katechulasriroj Director
4. Mr.Prasong Vararatanakul Director
5. Mr.Likit Somnualtad Director
Pacific Estate Development Company Limited (Subsidiary of Thai Property Public Company Limited)

Pacific Estate Development Company Limited is located at 29thFloor, Charn Issara Tower 2, 2922/305-306 Petchaburi Road, Bang Kapi, HuayKwang, Bangkok. It was registered as a public company on 22 December 1988. At present, it has Bt1,151million in registered capital, all paid-up. It is 58.77% owned by the Company through the stake in Thai Property. A new project is under feasibility study.

As of 31 December 2019, Pacific Estate Development Company Limited’s 3 directors are:

Name Position
1. Dr.Bhichit Rattakul Director
2. Mr.Pramote Remyindee Director
3. Mr.Pornswat Katechulasriroj Director
Metro Premier Holding Company Limited (Subsidiary of Thai Property Public Company Limited)

Metro Premier Holding Company Limited is located at 29th Floor, CharnIssara Tower 2, 2922/305-306 Petchaburi Road, Bang Kapi, HuayKwang, Bangkok. It was registered on 29 November 2010. It is registered with Bt5 million capital, all paid-up. It is owned 99.99% by the Company through a stake in Thai Property.

As of 31 December 2019, Metro Premiere Holding Company Limited’s 3 directors are:

Name Position
1. Dr.Bhichit Rattakul Director
2. Mr.Pramote Remyindee Director
3. Mr.Pornswat Katechulasriroj Director
Scenery Peak Company Limited (Subsidiary of Thai Property Public Company Limited)

Scenery Peak Company Limitedis located at Quastisky Buildings, PO Box 4389, Road Town, Tortola, British Virgin Islands ,It was registered on 12 May 2010.It is registered with US$ 50,000,all paid-up. It is owned 100% by the Company through a stake in Thai Property.

As of 31 December 2019, Scenery Peak Company limited’s 1 director is:

Name Position
1. Mr.Pornswat Katechulasriroj Director
Grande Asset Hotels and Property Public Company Limited (Subsidiary of Thai Property Public Company Limited)

Grande Asset Hotels and Property Public Company Limited is located at 32th Floor, Exchange Tower Room 3203-4, 388 Sukhumvit Road, Khlong Toei, Bangkok. It was registered on 7 July 2003. Grande Asset has Bt5,000,000,000 in registered capital, with Bt3,615,929,965paid up. (Shareholders at the annual meeting on 24 April 2017 approved Grand’s recapitalization by Bt2,110,960,763 million through the issuance of 2,110,960,763 new shares with Bt1 par value. Of total, 866,711,771 shares were offered to Grand’s existing shareholders at the 10:3 ratio at the price of Bt1 apiece. On 20 April 2018, Grand received Bt611,337,993 for the offering of 611,337,993 shares.) It is indirectly owned 39.29% by the Company through a stake in Thai Property and 9.50% directly owned by the Company.

Grande Asset Hotels and Property is a hotel operator and property developer. It operates 5 hotelsare as following:

  1. The Westin Grande Sukhumvit Hotel is located at Soi Sukhumvit 19, Bangkok:a 25-floor 5-star hotel with 362 guest rooms.
  2. Royal Orchid Sheraton Hotel and Towers is located at Charoenkrung 30, Bangkok: a 28-floor 5-star hotel with 726 guest rooms.
  3. Sheraton Hua Hin Resort and Spa in Cha-Am, Phetburi province: a 2-floor 5-star hotel with 240 guest rooms.
  4. Sheraton Hua HinPranburi Villas in PranBuri, Prachuab- Khiri Khan province: a 5-star hotel with 53 poll villas.
  5. Hyatt Regency Bangkok Sukhumvit, an Upper–Upscale hotel with 273 guest rooms. Located at Soi Sukhumvit 13, the building has 31 floors.

And a mixed-use project under development which consists of resort villas, a hotel and a condominium building. The project is located in Rayong, encompassing 93 rai of land on the hilly Laem Mae Phim.

As of 31 December 2019, Grande Asset Hotels and Property had 5 projects on the market– Hyde Heritage Thonglor, Hyde Sukhumvit 13, Hyde Sukhumvit 11, The Trendy condominium and Hua Hin Blue Lagoon resort, with the remaining combined value of Bt6,279 million.
(Details appeared in subsidiaries’ projects: Table of products.)

As of 31 December 2019, Grande Asset Hotels and Property Public Company Limited’s 11 directors are:

Name Position
1. Mr.Wichai Thongtang Chairman
2. Dr.Bhichit Rattakul Vice Chairman / Chief Executive Director
3. Mr.Chainid Adhyanasakul Director
4. Mr.Vitavas Vibhagool Director
5. Ms.Wilawun Leongnarktongdee Director
6. Mr.Suradej Narula Director
7. Mr.Amarin Narula Director
8. Mr.Lothar Richard Pehl Director
9. Mr.Pornchai Kittipanyangam Independent Director / Chairman of Audit Committee
10. Mr. Wattana Suthipinijtham Independent Director / Audit committee / Risk Management Committee
11. Mr.Chaiwat Utaiwan Independent Director / Chairman of Risk Management Committee
Grand Equity Development Company Limited (A subsidiary of Grande Asset Hotels and Property Public Company Limited)

Grande Equity Development Company Limited is located at 32nd Floor, Exchange Center, 3203-4, 338 Sukhumvit Road, Klong Toei, Bangkok . The company owns a 100% stake in Grande Equity through its wholly-owned subsidiary Grande Asset Hotels and Property Plc. Grande Equity operates real estate development business, in the process of acquiring land for future development.

As of 31 December 2019, Grande Equity Company Limited‘s 4 directors are:

Name Position
1. Dr.Bhichit Rattakul Director
2. Mr.Chainid Adhyanasakul Director
3. Mr.Vitavas Vibhagool Director
4. Mr.Amarin Narula Director
Honor Business Company Limited (A Subsidiary of Grande Asset Hotels and Property Public Company Limited)

Honor Business Company Limited islocates at 32nd Floor, Exchange Center, 3203-4, 338 Sukhumvit Road, Klong Toei, Bangkok .The company owns a 100% stake in Honor Business Company Limited through its wholly-owned subsidiary Grande Asset Hotels and Property Plc. Honor Business Company Limited manages Sheraton Hua Hin Resort and Spa Hotel by renting out the property from REIT.

As of 31 December 2019, Honor Business’s 5 directors are:

Name Position
1. Dr.Bhichit Rattakul Director
2. Mr.Chainid Adhyanasakul Director
3. Mr.Vitavas Vibhagool Director
4. Mr.Amarin Narula Director
5. Ms.Wilawun Leongnarktongdee Director
Royal Orchid Hotel (Thailand) Public Company Limited (Grande Asset Hotels and Property Public Company Limited's subsidiary)

Royal Orchid Hotel (Thailand) Public Company Limited (“ROH”) is located at 2 Captain Bush Lane, New Road, Bang Rak, Bangkok 10500. It was listed on the Stock Exchange of Thailand on 21 July 1989. ROH’s fully-paidup registered capital is at Bt937,500,000 with a number of 93,750,000 shares at Bt10 par value. Grand acquired 41,250,235 shares of ROH or a 44% stake from Starwood Hotel (Thailand) Company Limited, and 22,500,000 shares or a 24% stake of ROH from Thai Airways International Public Company Limited. After the transactions, Grand owned 63,750,235 shares in ROH or 68%. Grand subsequently launched a mandatory tender offer for the remaining shares of ROH during 8 May 2018 and 10 July 2018 and bought additional 28,570,803 shares or 30.48%. Grand consequently owns a total of 92,321,038 shares or 98.48% in ROH.

ROH mainly engages in a five-star hotel business, with 726 guest rooms and facilities such as function rooms, meeting rooms, facilities for seminars and exhibitions, international restaurants, a swimming pool, a tennis court, and a private wharf. ROH awards the management contract to US-based Sheraton Overseas Management Corporation.

As of 31 December 2019, Royal Orchid Sheraton Hotel (Thailand) Public Company Limited’s 12directors are:

Name Position
1. Mr.Wichai Thongtang Chairman / Independent director
2. Dr.Bhichit Rattakul Vice Chairman
3. Mr.Chainid Adhyanasakul Chief Executive Director / Director
4. Mr.Vitavas Vibhagool Chief Executive Officer / Director
5. Mr.Pramote Remyindee Director / Secretary
6. Ms.Wilawun Leongnarktongdee Director
7. Mr.Amarin Narula Director
8. Ms.Monchanok Adhyanasakul Director
9. Mr.Twatchai Noonpukdee Independent Director / Chairman of Audit Committee
10. Dr.Seri Wongmonta Independent Director
11. Pol.Gen.Aek Angsananont Independent Director
12. Mr.Amnuay Preemonwong Independent Director
Owendelle Company Limited (subsidiary of Honor Business Company Limited)

Owendelle Company Limited is located at 32nd Floor, Exchange Center, 3203-4, 338 Sukhumvit Road, Klong Toei, Bangkok. The company owns a 100% stake in Owendelle through its wholly-owned subsidiary Grande Asset Hotels and Property Plc..Owendelle Company Limited owns the lease rights for the land which locates Sheraton Hua HinPranburi Villa as well buildings on the land.

As of 31 December 2019, Owendelle Company Limited‘s 5 directors are:

Name Position
1. Dr.Bhichit Rattakul Director
2. Mr.Chainid Adhyanasakul Director
3. Mr.Vitavas Vibhagool Director
4. Mr.Amarin Narula Director
5. Ms.Wilawun Leongnarktongdee Director
Property Perfect International Pte.Ltd. (Subsidiary)

Property Perfect International Pte.Ltd. (PPI), located at 9 Raffles Place #17-01 SBF Center Singapore 068914, established on 12 July 2012, has paid-up capital of 1 Singapore dollar. Owned 100% by the Company, PPI will invest in overseas property development business. Property Perfect International holds68.28%in Kiroro Resort Holdings and the company holds 31.42%.

As of 31 December 2019, Property Perfect International Pte.Ltd’s 3 directors are:

Name Position
1. Mr.Bhichai Rattakul Chairman
2. Mr.Chainid Adhyanasakul Director
3. Mr.Krishnaveni d/o Sandanam Director
Kiroro Resort Holdings Company Limited (Renamed from Share Group Company Limited) (subsidiary of Property Perfect International Pte. Ltd.)

Kiroro Resort Holdings(Renamed fromShare Group Since November 2014), located at 128-1 Tokiwa, Akaigawa-mura, Yoichigun, Hokkaido, Japan, is incorporated under the Japanese law for the investment in property development and hotel business. At the 4/2012 meeting on 27 August 2012, the Board of Directors approved Kiroro Resort Holdings’s investment in all shares of and loan claims against Kabushiki Kaisha Kiroro Associates Company Limited, from Mitsui Fudosan Resort Company Limited. The 100% shares were bought at the cost of 1 yen, or approximately Bt0.4050 (at the exchange rate of 100 yen for Bt40.50) .Kiroro Resort Holdings will also take over the claim on a loan to Kabushiki Kaisha Kiroro Associates from Mitsui Fudosan Company Limited. The loan is valued at 1,300.6 millionyen, it is worth Bt526.7 million. The claim is valued at 160,000,000 yen or Bt64,.8 million.

The Board also approved Kiroro Resort Holdings’ purchase of Kiroro Resort from Mitsui Fudosan Resort for about Bt490 million or Bt 1,200 million. Kiroro Resort is a ski resort on Hokkaido, Japan, owning a 292-rai land plot, 2 hotels- 422-room and ski equipment. Plus transfer taxes of about700 million yen or Bt280 million, the purchase cost a total of approximately 1,900 million yen or Bt770 million. In March 2014, Kiroro Resort Holdings’ capital increase by 500 million yen (100,000 shares at 5,000 yen apiece). The new shares were offered to Property Perfect International to settle a loan from Property Perfect International. Property Perfect International’s shareholding Kiroro Resort Holdings thus increased to95.61%.

In August 2015, the capital was raised by 2,500 million yen through rights offering. In September, a sum, 1,048.68 million yen, was paid-up through the offering of 209,736 shares at 5,000 yen apiece. The proceeds were used to upgrade the hotel in line with Starwood Hotel and Resorts Worldwide Inc’s requirements, before the resort would be rebranded as “Sheraton Hokkaido Kiroro Resort”and “The Kiroro, a Tribute Portfolio Hotel, Hokkaido”.

In January 2016, Kiroro Resort Holdings was recapitalized by 500 million yen through the issuance of 100,000 shares at the par value of 5,000 yen to Property Perfect International. The new shares were issued to repay a loan extended by Property Perfect International. It also called for payments for parts of new shares issued in August 2015 but 3 minor shareholders forwent their rights, leaving 99,814 shares (5,000 yen a share) worth 499,070,000 yen to Property Perfect International. Property Perfect International’s stake in Kiroro Resort Holdings thus rose to 97.27%.

In July 2017, Property Perfect’s loan to Kiroro Resort Holdings worth 1,205 million yen was converted to 241,000 common shares with 5,000 yen par value, boosting Property Perfect’s direct holding in Kiroro Resort Holdings to 31.4% and decreasing Property Perfect International’s stake to 66.7% consisting of 767,070common shares. In November, the capital was reduced for tax benefits and accumulated debt clearing .Kiroro Resort Holdings’ paid-up capital is currently 2,272,246,451 yen.

As of 31 December 2019, Kiroro Resort Holdings Company Limited’s 12 directors are:

Name Position
1. Mr.Bhichai Rattakul Chairman
2. Mr.Lothar Richard Pehl Director
3. Mr.Chainid Adhyanasakul Director
4. Mr.Ooi Boon Aun Director
5. Mr.Yochiro Itto Director
6. Dr. Thanong Bidaya Director
7. Mr.Benjamin Lam Director
8. Dr.Piyasvasti Amranand Director
9. Mr.Vitavas Vibhagool Director
10.Mr.Jesd Jesdpiyawong Director
11. Mr.Saranyu Adhyanasakul Director
12.Mr.Lim Tien Meng Director

Retail Business unit

We Retail Public Company Limited (Subsidiary)

We Retail Public Company Limited (“We Retail”) is located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok. Formerly named Daidomon Group Public Company Limited (“Daidomon”), It was registered as a public company on 27 April 2001. We Retail acquired the 99.99% stake of Centrepoint Shopping Mall Company Limited (“Centrepoint”), which develops shopping malls, office buildings and commercial space.And We Retail also holds a 50% stake in All Discount Co Ltd, a low-cost retail business operator. The company is now capitalized at Bt4,761,824,999.40 with Bt.2,615,114,338.20 paid up, consisting 2,490,585,084shares or Bt 1.05 par value. The company hold 94.98 %. We Retail is carrying out the development of an open shopping complex in the West of Bangkok. The malls, namely Metro West Town.

As of 31 December 2019, We Retail Public Company Limited’s 8 directors are;

Name Position
1. Mr.Chainid Adhyanasakul Chairman and Nomination and Remuneration committee
2. Mr.Pornswat Katechulasriroj Director and Chief Executive Officer
3. Mr.Pramote Rermyindee Director and Chairman of Nomination and Remuneration committee
4. Mr.Kampol Tatiyakawee Director and Nomination and Remuneration committee
5. Mr.Cherdsak Kookiatnunt Independent Director, Chairman of Audit Committee
6. Mr.Chaiyakorn Boonlapapat Independent Director, Audit Committee
7. Mr.Prasong Vara-Ratanakul Independent Director, Audit Committee
8. Mr.Krittapas Pongpakawat Independent Director
Centrepoint Shopping Mall Company Limited ("Centrepoint") (Subsidiary of We Retail Plc.)

Centrepoint Shopping Mall Company Limitedis located at 100/1 Vorasombat Building 17th fl., Rama IX Road, Huay Kwang, Bangkok. Established in December 2007 .Centrepoint focuses on commercial development like shopping malls and rental office building. Centrepoint Shopping Mall Company Limited owns the leasing rights of a some of a land plot on the east side of Ratchadapisek Road, planned for the development of a closed shopping mall and an office building. In August 2012, it won the leasing right for an opposite land plot on the west side of Ratchadapisek Road, which is planned for the development of a closed shopping mall.

As of 31 December 2019, Centrepoint Shopping Mall Company Limited’s 5 directors are:

Name Position
1. Mr.Chainid Adhyanasakul Director
2. Mr.Pramote Remyindee Director
3. Mr.Wongsakorn Prasitvipat Director
4. Mr.Pornswat Katechulasriroj Director
5. Ms.Wilawun Leongnarktongdee Director
All Discount Co., Ltd (We Retail's subsidiary)

All Discount Company Limited is located at 593/593/1 Sukhumvit Road, Khlongtan Nua, Wattana, Bangkok. Established in March 2016 , All Discount will develop and operate a nuveau low-cost retail business. It is capitalized at Bt100 million (1,000,000 shares at Bt100 par value), all paid-up. We Retail holds a 50% stake.

All Discount has currently operated 20 “All D” outlets in the peripheral areas of Bangkok.

As of 31 December 2019, All Discount has 4 directors as follows:

Name Position
1. Mr.Chainid Adhyanasakul Director
2. Mr.Pornswat Katechulasriroj Director
3. Mr.Pisit Pusanakom Director
4. Ms.Sopit Pusanakom Director
Ram Intra Mall Company Limited (Renamed from Mariya Stuff Company Limited )(Subsidiary)

Ram Intra Mall was established in 2004 as Mariya Stuff. In August 2013, the Company bought all 100% shares of Mariya Stuff from its shareholders for Bt350 million. Mariya Stuff’s old shareholders had no connection with the Company. Through the purchase, the Company took control of the lease rights over a 34-rai land plot in TambonBueng Kum, Bang Kapi district, Bangkok. The 30-year lease period started from 9 April 2013 to 31 March 2043. The land is planned to house a shopping mall, which is being studied.

In August 2014, Mariya Stuff extended the lease by another 3 years (1 April 2043 through 31 March 2046). It was renamed to Ram Intra Mall in September 2014. In June 2016, the lease was extended by another 3 years (from 1 April 2046 to 31 March 2049). Ram Intra Mall is located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok. It is registered with Bt350 million capital. The company holds 100% in the subsidiary.

As of 31 December 2019, Ram Intra Mall company Limited’s 2 directors are:

Name Position
1. Mr.Chainid Adhyanasakul Director
2. Mr.Pramote Remyindee Director

Construction Business Unit

U & I Construction Bangkok Company Limited

U & I Construction Bangkok Company Limited (“U & I”), is located at 27th Fllor, Vongvanich Building, 100/89 Rama IX Road, HuayKwang, Bankgok. Established in April 2011, it has Bt100 million in registered capital. ,all paid up. The company holds 100% in U & I.

U & I’s main objective is to offer services to construct single detached houses, duplex houses, townhouses and condominiums for the company and subsidiaries. As it will be securing direct contracts from the group, this will promise construction flexibility for the group and allow the company a better management on supply chain. The company also selected sub-contractorsto control the construction cost and construction period, as well as ensure effective control on the construction volume and quality.

As of 31 December 2019, U & I Construction Bangkok Company Limited’s 3 directors are;

Name Position
1. Mr.Surasak Vatchapongpreecha Director
2. Mr.Prakit Rerkpreedapong Director
3. Mr. Pipat Nittayakosol Director
Perfect Prefab Company Limited

Perfect Prefab Company Limited (“Perfect Prefab”) is located at 10th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok. Established in June 2011, it has Bt60 million in registered capital, The company holds 99.99% in Perfect Prefab.

The company established to manufacturer and install prefab structures, which are parts of single houses, townhouses and project fences, as well as condominiums. The automated production system is to ensure no effect from labor shortage. The company expects to benefit from the joint venture’s prefab technology. It now manufactures prefab materials for the Company’s projects, with the capacity to supply materials for the construction of 750 housing units per year.

As of 31 December 2019, Perfect Prefab Company Limited’s 7 directors are;

Name Position
1. Mr.Wicharn Sirivejwarawut Director
2. Mr.Surasak Vatchapongpreecha Director
3. Mr.Vorasak Chakrapiyanant Director
4. Mr.Annop Angkunsatornsri Director
5. Mr.Rungroj Singhthanadkij Director
6. Mr.Pipat Nittayakosol Director
7. Mr.Prakit Rerkpreedapong Director

Services-oriented units

Perfect Sport Club Company Limited (subsidiary)

Perfect Sport Club Company Limited (“Perfect sport Club”) is located at 10th Fl., Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, was established in February 2003. it was capitalized at Bt50 million, with Bt50 million paid-up. The Company owns 100%. Perfect Sport Club operates fitness clubs and sport clubs of company and subsidiaries.

As of 31 December 2019, Perfect Sport Club Company Limited’s 4 directors are:

Name Position
1. Mr.Surasak Vatchapongpreecha Director
2. Mr.Kritapas Longpakawat Director
3. Mr.Sanpetch Sukkasem Director
4. Mr.Natawee Jirawechanon Director
Thai Connect 2019 Company Limited (Renamed From Uniloft Service (Thailand) Company Limited) (Subsidiary)

Thai Connect 2019 Company Limited is located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok. Established in July 2011, it has Bt100,000 in registered capital. It is 100% owned by the company.In August 2013, the registered capital was raised to Bt5,000,000 and 25% of the capital increase or Bt1,225,000, has paid-up capital ofBt.1,325,000 . It is designated to operate the Group’s rental properties.

As of 31 December 2019, Thai Connect 2019 Company Limited‘s 3 Directors are:

Name Position
1. Mr.Saranyu Adhyanasakul Director
2. Mr.Natthaphon Sueb-Am Director
3. Mr.Jesd Jesdpiyawong Director
T Utilities Company Limited (Joint Venture)

T Utilities Company Limited is located at 116/1, Silom Road, Suriyawong sub-district, Bang Rak district, Bangkok. Established on 8 December 2015, it has Bt300 million in registered capital. It is 45% owned by the company. T Utilities operates through co-investment in utilities companies and projects.

As of 31 December 2019, T Utilities Company Limited ‘s 5 Directors are:

Name Position
1. Dr.Bhichit Rattakul Director
2. Mr.Chainid Adhyanasakul Director
3. Mr.Noppol Milinthanggoon Director
4. Ms.Aunada Phruttinarakorn Director
5. Mr. Nandhapon Patpongpanit Director
Tu2 Company Limited (Subsidiary)

TU2 Company Limited is located at 116/1, Silom Road, Suriyawong, Bang Rak, Bangkok. Established on 3 July 2017, it has Bt1,000,000 registered capital to investment in utilities companies and projects.

As of 31 December 2019, TU2 Company Limited’s 4 Directors are:

Name Position
1. Mr.Jesd Jesdpiyawong Director
2. Mr.Kriangkrai Pheanvitayasakul Director
3. Mr.Nandhapon Patpongpanit Director
4. Mr.Withawint Srisuriyachan Director
Tu3 Company Limited (Subsidiary)

TU3 Company Limited is located at 116/1, Silom Road, Suriyawong, Bang Rak, Bangkok. Established on 3 July 2017, it has Bt10,000,000 registered capital to investment in utilities companies and projects.

As of 31 December 2019, TU3 Company Limited’s 4 Directors are:

Name Position
1. Mr.Jesd Jesdpiyawong Director
2. Mr.Kriangkrai Pheanvitayasakul Director
3. Mr.Nandhapon Patpongpanit Director
4. Mr.Withawint Srisuriyachan Director
Tu6 Company Limited (Subsidiary)

TU6 Company Limited is located at 116/1, Silom Road, Suriyawong, Bang Rak, Bangkok. Established on 3 July 2017, it has Bt100,000,000 registered capital to investment in utilities companies and projects.

As of 31 December 2019, TU6 Company Limited’s 4 Directors are:

Name Position
1. Mr.Jesd Jesdpiyawong Director
2. Mr.Kriangkrai Pheanvitayasakul Director
3. Mr.Nandhapon Patpongpanit Director
4. Mr.Withawint Srisuriyachan Director
Southern One Holding Company Limited (Joint Venture)

Southern One Holding Company Limited is located at 116/1, Silom Road, Suriyawong, Bang Rak, Bangkok. Established on 16 July 2018, it was capitalized at Bt100,000,000. Southern One Holding operates through co-investment in utilities companies and projects, mainly involving electricity generating and tap water systems.

As of 31 December 2019, Southern One Holding Company Limited’s 3 directors are:

Name Position
1. Mr.Noppol Milinthanggoon Director
2. Mr.Jesd Jesdpiyawong Director
3. Mr.Chairoj Chewraprapat Director