Thai Credit Bank Public Company Limited (SET: CREDIT) has notified the Stock Exchange of Thailand that the company has entered into a lease agreement with V. One Asset Company Limited, which is considered a connected person.
The transaction consists of Unit No. 121/78-78, Area 1,204.40 square meters, located on the 26th floor of RS Tower, No. 121 Ratchadapisek Road, Din Daeng, Din Daeng District, Bangkok, for use as office space.
The unit has a rental rate and service charge of THB 600 per square meter (Non-VAT), amounting to THB 722,640 per month or THB 8,671,680 THB per year. The total rental fee and service charge for the 3-year contract amount to THB 26,015,040 (Non-VAT). The rental deposit amounts to 180,660 THB. The total amount including rent and service fees is THB 26,195,700 (Non VAT).
Currently, the company leases office spaces from various individuals and companies without being limited to any person or group of companies, with the selection of leased spaces primarily based on operational convenience, such as locations within the same building or nearby areas to other Bank units for ease of access and communication; moreover, relocating to a new office would incur significant expenses, especially for interior renovations. Therefore, the management has compared rental rates offered by other lessors within the same building and surrounding areas and found that the rental rates and other lease conditions are reasonable and acceptable to the company.
This transaction is considered a lease agreement with a connected person for a period of no more than 3 years, according to the Securities and Exchange Commission’s Notification No. Tor Jor. 21/2008 regarding criteria for connected transactions (including amendments) and the Notification of the Stock Exchange of Thailand regarding the disclosure of information and practices of listed companies in connected transactions B.E. 2546 (including amendments) (Connected Transaction Announcement).
