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SCB Asset Management Co.,Ltd., (SCBAM) as management company of CPN Retail Growth Leasehold Property Fund (CPNRF) would like to inform the progress of the Renovation Project of CentralPlaza Pinklao Shopping Complex as follows:
| Subject | Phase and Area of Renovation Project | The Renovation Progress (as of September 30, 2015) |
| Area to be Renovated and Renovation Period of the Central Plaza Pinklao Shopping Complex (the Renovation Project) | Phase 1 having an area of approximate 85 percent of G, 1st, 2nd, 3rd and 4th floors: During the renovation, the shopping complex will normally be opened whereby the areas that will remain opened for operation during the renovation in year 2015 are as follows: - Area of Central Pinklao Department Store - Phase 2 area which is located between CentralPlaza Pinklao Department Store and the office buildings - Plaza area which is located on 5th -6th floors - The area of the Office Buildings Tower A and Tower B. |
Phase 1 : The Renovation Project 1. The renovation of the 1st floor of parking area is completed and ready to deliver to tenants for decoration. 2. The renovation of the areas in the CentralPlaza Pinklao Shopping Complex : 58% completion - Oct 1, 2015: G Floor has fully opened for operation. - 1st and 2nd floor areas are under decoration process by tenants. They are expected to open for operation on Oct 30, 2015. - 3rd and 4th floor areas are ready to deliver to tenants for decoration. They are expected to open for operation on Dec 4, 2015. 3. The renovation of CentralPlaza Pinklao Shopping Complex’s façade : 60% completion Overall progress: approximately 60% |
| Phase 2 having an area of approximate 15 percent of G, 1st, 2nd, 3rd and 4th floors: Phase 2 area which is located between CentralPlaza Pinklao Department Store and the office buildings. The renovation will be gradually implemented with no shop closing. |
Phase 2 The Renovation Project-Phase 2 will be taken place in 2016. The Management Company will further notify details of the Renovation Project-Phase 2. |
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| Reviewed Appraised Value of the Renovation Project | Reviewed appraised value as of Sep 30, 2015 (approximately 9.25 years appraised period) | Baht 4,268.00 Million |
| Appraiser | TAP Valuation Co., Ltd. | |
| Appraisal Method | Income approach method | |
Remark : Investors may request for more details of the reviewed appraisal report at SCBAM.
In this regard, SCBAM will manage to review the appraised value of the Renovation Project and notify the progress of the renovation of the CentralPlaza Pinklao Shopping Complex on quarterly basis. Unitholders can make additional inquiries through SCBAM Call Center Tel: 0 2777 7777 Press 0 Press 6 from 8.30am-5.00pm.
As of October 13, 2015
SCB Asset Management Co.,Ltd.,
SCB Global Income Fund (Accumulation)
SCB LOW VOLATILITY EQUITY FUND (Dividend)
SCB LOW VOLATILITY EQUITY FUND
(Accumulation)
SCB Low Volatility Equity RMF
SCB Global Equity Absolute Return Fund (Accumulation)
SCB Mixed – Spicy Fund (Accumulation)
SCB Income Fund (Accumulation)
SCB Income Fund (Auto Redemption)
