10 March 1995
reports change of subsidiary's sales policy
Lang Suan Realty Co Ltd, a subsidiary of Central Pattana Plc (CPN),
has changed the sales policy for its shops from leasing to the sale of
leasing rights.
Previously CPN, in its prospectus for the sale of shares from its
capital increase, said of its 99.99%-owned subsidiary that its sales
policy is the sale of leasing rights for its residential buildings and
leasing for its shops.
Lang Suan Realty has now changed its sales policy for the leasing
of its shops from leasing to the sale of leasing rights, similar to its
policy for residential buildings.
The company expects that sales can be completed by June 1995 and
that the change will enable the company to realize higher earnings for
1995 than previously estimated.
Translated by the Nati