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Annual Report Future Park Leasehold Property Fund For period from January 1, 2012 to December 31, 2012

TRANSLATION This English version of this Annual Report is only for informational purposes. Interpretation and construction must still be based on the Thai Text.


Annual Report For the Period of 1 January 2012 – 31 December 2012

Table of Contents

Page

Messages from the Management Company

1

Future Park Leasehold Property Fund

2

Details of Investment

6

Details of the lmmovable Properties

7

Details of Purchase and Lease of lmmovable Properties

8

Details of Sale or Leasehold Rights Transfer of Immovable Properties

9

Details of Loan of Fund

9

Property Market Situation and Outlook

10

Total Expenses as called from Property Fund

11

Name List of Fund Manager

12

List of Related Persons having transactions with the Fund

12

managed by BBL Asset Management Company Limited List of Soft commission

13

Mutual Fund Supervisor Report

14

Auditor Report and Financial Statements

15

BBL Asset Management Company Limited

38

Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Messages From the Management Company

To

Unitholders Future Park Leasehold Property Fund

With reference to BBL Asset Management Co., Ltd.'s role as the manager of the Fund as of 1 February 2012, the Management Company has implemented a number of measures to generate maximum benefits to unitholders. In 2012, the Fund had a total net revenue of Baht 696 million compared with Baht 546 million in 2011 which is an increase of 27% year-on-year. On 26 December 2012, the Fund increased its investments by a total of Baht 1.5 billion (comprising Baht 900 million from issuing unit trusts and Baht 600 million of borrowings from financial institutions) to implement the following: 1. Extension of the lease by another 15 years (from 1 January 2027 to 31 December 2041) for rental space amounting to approximately 53,065.66 sq.m. and the rights to deploy or seek commercial revenue from parts of the public area amounting to 47,697.94 sq.m. and external building walls of the Future Park Rangsit site. 2. Investment in a 29-year lease (ending 31 December 2041) for additional rental space at the Future Park Rangsit site, comprising approximately 3,840.08 sq.m. and rights to deploy or seek commercial revenue from 992.27 sq.m. of public area. Registration with the Land Department has been completed since December 2012. Total rental area amounts to 65,182.62 sq.m., comprising 56,905.74 sq.m. of rental area and another 8,276.88 sq.m. of public area which can be utilized to generate commercial revenue. The extension and investment in new leases will provide the fund with both a larger space to generate revenue and a longer duration until 2041 which will be beneficial to unitholders. BBL Asset Management Co., Ltd. is grateful of the trust placed on us by each of our unitholders to perform the role as fund manager. The company will carry out its duties by upholding the best interests of unitholders and good governance. Sincerely yours, BBL Asset Management Co., Ltd.

1 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Future Park Leasehold Property Fund Abbreviation as “FUTUREPF” The Asset Management Company BBL Asset Management Co., Ltd. Type of the Fund Project Closed-end Property fund Project Life Not Specified. The leasehold rights ending 2041 Objectives The purposes of the Fund are to mobilize funds from general investors, both natural persons and juristic persons in both domestic and foreign countries which are used to purchase and/or take on lease immovable properties. The Fund will accept the transfer of ownership and/or leasehold rights and derive benefits from the immovable properties by letting out on lease or sublease, transferring and/or disposing of immovable property invested or acquired by the Fund, and by improving, changing, developing and/or disposing of the various properties invested or acquired by the Fund, whether by the granting of a lease and/or sale and/or by other means relevant and necessary to make use of the immovable properties in return for income and yields for the Fund and its unit holders, including to invest in other properties and/or securities and/or to acquire other fruits by any other means stipulated by the Securities Law and/or other relevant laws. Investment of the Fund 1st Investment: On November 24, 2006, Future Park Leasehold Property Fund has acquired leasehold rights of immovable properties which is a commercial center, in 1 project, certain of Future Park Rangsit Project Building of about 52,573.09 sq.m., and the right to seek benefits by means of granting lease or area utilization rights, providing services and others in respect of certain of the Common Area having an area of 48,190.51 sq.m. and the areas on the outside walls of the Future Park Rangsit Project Building, the details being as follows: (1) Certain leasehold rights of the Future Park Rangsit Project building to be acquired from Rangsit Plaza Co., Ltd. covers an area of approximately 52,573.09 sq.m., i.e. between the date on which the Fund enters into the Building Lease agreement with Rangsit Plaza Co., Ltd. and 31 December 2026. Rangsit Plaza Co., Ltd. has undertaken to extend the Building Lease Agreement with the Fund so that the leasehold rights are extended from the date of its expiry for another period equal to that by which Pipatanasin Co., Ltd. agrees to extend the Land Lease Agreement. 2 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

In addition, the Fund has the right of first refusal regarding the whole or a part of the Area under a Lease Agreement whereby a Consideration is payable for Leasehold Rights to be acquired from Rangsit Plaza Co., Ltd. when the former tenants’ leaseholds expire. As of 30 June 2006, the total Area under a Lease Agreement whereby a Consideration is payable for Leasehold Rights are 122,741.05 square meters. (2) The right to apply the Common Areas of the Future Park Rangsit Project Building, totaling 48,190.51 sq.m., and the areas on the outside walls of the Future Park Rangsit Building under the Agreement Granting Rights for Area Utilization and Benefit Seeking, to benefit seeking by means of providing lease or services or granting right to area use or by any other means. However, such area use and benefit seeking must be consistent with the business operation of Rangsit Plaza Co., Ltd. during the period before the Fund makes an investment, and must have regard for the convenience of other tenants to make use of the Common Areas of the Future Park Rangsit Project Building. On the date prior to the Fund’s investment, a total of 7,582.79 sq.m. of the Common Areas were subject to the benefit seeking activity, and other portion of the Common Areas was being used for purposes of convenience to the service users of Future Park Rangsit Project Building, such as for walkway. Further the Fund will have such right during the period from the Date of the Fund’s Investment to 31 December 2026. Rangsit Plaza Co., Ltd. has undertaken to extend the Agreement Granting Rights for Area Use and Benefit Seeking with the Fund so that the Fund will be entitled to acquire benefits from the Common Areas and the areas on the outside walls of the Future Park Rangsit Building, for an additional period equal to the extension of the Building Lease Agreement under Clause 2.1 from the expiry of the Fund’s right to utilize the space areas. In order to give the Fund a valid, lawful right to the Fund’s 1st Investment Area, the Fund and Rangsit Plaza Co., Ltd. will arrange for the registration with the Land Department of the leasehold rights under the Building Lease Agreement and of the right to utilize the area of 7,582.79 sq.m. of the Future Park Rangsit Project Building under the Agreement Granting Rights for Area Use and Benefit Seeking. Investments from the first capital increase The fund raised Baht 900 million by issuing additional units for subscription and obtained Baht 600 million from bank borrowings, together amounting to 1.5 billion Baht of funds mobilized. 1.

Extension of the lease at Future Park Rangsit covers 53,065.66 sq.m. and the rights to deploy parts of the public space amounting to 47,697.94 sq.m. which includes 8,276.88 sq.m. that is revenue-generating and external building walls of the Future Park Rangsit site plus other relevant property assets useful to the property site. The aforementioned space can be utilized for commercial benefits for another 15 years (from 2027 to 2041). 3 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

2.

The lease acquired at the Future Park Rangsit site for the additional property assets is separate from the main leasehold contract made with Rangsit Plaza Co., Ltd. amounting to 3,840.08 sq.m. for 29 years from the date of the contract signing until 2041. Rangsit Plaza Co., Ltd. continues its role as the property manager of the Fund.

Dividend Payment Policy The Fund Project pays dividend to unitholders at least twice a year. (1) If the Fund reports a net profit in any accounting period, the Management Company shall pay dividend to unitholders at the rate of no less than 90 percent of the net profit not including unrealized profit from appraisal or reviewed appraisal of real estate or leasehold rights to real estate for the said accounting period. (2) If the Fund reports retained earnings in any accounting period, the Management Company may also pay to unitholders dividend from the said retained earnings. Provided that dividend payment under (1) shall not increase the Fund’s accumulated loss for the accounting period when dividend is paid. Dividend payment under (1) and (2) by the Management Company shall be completed within 90 days of the end of the accounting period when dividend is paid. In the event that the Management Company is unable to make payment by the time specified above, the Management Company shall inform unitholders and the Office of the SEC in writing. In consideration of dividend payment, if the dividend per investment unit to be paid during a fiscal year period is lower than or equal to Baht 0.10, the Management Company reserves the right not to pay such dividend for that period whereby such dividend shall be carried forward for payment at the end of the fiscal year period.

Project Capital

:

6,233,161,000 Baht (Baht Six billion, Two Hundred and Thirty-Three Million, One Hundred and Sixty-One Thousand)

Number of Investment Units

:

529,566,100 units (Five Hundred and Twenty-Nine Million, Five Hundred and Sixty-Six Thousand and One Hundred units)

Type of Investment units

:

Holder name specified

4 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Trustee

:

The Hongkong and Shanghai Banking Corp Ltd.

Investment Units Registrar

:

Fund Advisor

:

-None-

Property Manager

:

Rangsit Plaza Co., Ltd.

Thailand Securities Depository Co., Ltd.

No. 94, 3rd Floor, Future Park Rangsit Building Phaholyothin Road, Tambon Prachathipat, Amphur Thanyaburi, Pathum Thani Province Tel. 0-2958-0011

5 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Details of Investment As at 31 December 2012 Market Value

% of Net Asset

(Baht)

Value

Assets 172,351,883

2.83%

248,838,606

4.09%

421,190,489

6.92%

6,628,000,000

108.89%

6,628,000,000

108.89%

Receivables from Rental

36,329,214

0.60%

Other Receivables

16,160,852

0.27%

3,454

0.00%

8,616,370

0.14%

61,109,890

1.01%

7,110,300,379

116.82%

Other Payables

(17,536,122)

(0.29%)

Accrued fees and Expenses

(32,177,349)

(0.53%)

Borrowings

(600,000,000)

(9.86%)

Security Deposit

(286,069,200)

(4.70%)

Other liabilities

(87,521,412)

(1.44%)

(1,023,304,083)

(16.82%)

6,086,996,296

(100.00%)

1. Cash at banks 2. Investments in securities Bond Total 3. Investment in Properties Leasehold Rights Total 4. Other Assets

Accrued Interest Deferred Charges Total Total assets 5. Other liabilities

Total liabilities Net assets value

No of units Net asset value per unit

529,566,100.0000 Units 11.4943 Baht

6 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Details of the lmmovable Properties As at 31 December 2012 The Fund invested in certain leasehold rights of Future Park Rangsit Project Building covering an area of approximately 56,905.74 sq.m., and the right to use the common area of Future Park Rangsit Project Building, totaling 48,690.21 sq.m., and the areas on the outside walls of Future Park Rangsit Project Building to seek benefits. Project Location

94 Phaholyothin Road, Tambon Prachathipat, Amphur Thanyaburi, Pathum Thani Province

Chalacteristics of the

A five-storey building (including underground) is approximately 17 years old, a

Project

seven-storey car parking building situated behind the commercial center, three outdoor parking areas that can accommodate about 7,000 cars (including 1,000 cars in temporary parking areas). (Rangsit Plaza Co., Ltd. is the owner.)

Land area

Land Title Deeds No. 310 and 92118 with total area of 106 rais and 9.5 square wahs (owned by Pipatanasin Co., Ltd., which has entered into a lease agreement with Rangsit Plaza Co., Ltd.) The Fund has not invested and has not subleased these pieces of land.

Type of use

The commercial center

Project Area and

Details

Total Project

Areas the Fund

Area Invested by the

Areas

invested

Fund

(sqm)

(sqm)

1. Areas within the commercial center are divided into: - Leasable areas

179,156.61

56,905.74

- Common areas

48,190.51

48,690.21

7,582.79

8,276.88

40,607.72

40,413.33

ƒ Income generating area ƒ Non-income generating area - Service areas 2. Indoors parking space

56,281.33 115,325.61

(for parking of about 4,500 cars) 3. Outdoor parking space

100,314.98

(for parking of about 1,500 cars) Total area Total Income generating area

499,269.04 65,182.62

7 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Lease Term

From 24 November 2006 to 31 December 2026 (20 years 1 month and 7 days)

Investment in

Fee for the right to lease and use of space

Properties

Expenses for obtaining such rights

6,036,443,000 baht 42,695,493 baht

Expenses for renovations of the Commercial buildings

6,393,123,079 baht

Total Latest Appraisal Value

313,984,586 baht

Baht 6,628,000,000 (as of 28 June 2012) Appraised by Nexus Property Consultant Company Limited using the income approach

Legal Obligation

None

Details of Purchase and Lease of lmmovable Properties For the period from 1 January 2012 to 31 December 2012 The Fund raised Baht 900 million by issuing additional units for subscription and obtained Baht 600 million from bank borrowings, together amounting to Baht 1.5 billion of funds mobilized. 1. Extension of the lease at Future Park Rangsit covers 53,065.66 sq.m. and the rights to deploy parts of the public space amounting to 47,697.94 sq.m. which includes 8,276.88 sq.m. that is revenue-generating and external building walls of the Future Park Rangsit site plus other relevant property assets useful to the property site. The aforementioned space can be utilized for commercial benefits for another 15 years (from 2027 to 2041). 2. The lease acquired at the Future Park Rangsit site for the additional property assets is separate from the main leasehold contract made with Rangsit Plaza Co., Ltd. amounting to 3,840.08 sq.m. for 29 years from the date of the contract signing until 2041. Rangsit Plaza Co., Ltd. continues its role as the property manager of the fund.

Date of investment

:

26 December 2012

Landlord

:

Rangsit Plaza Co., Ltd.

Objective

:

For investment and extension of lease

8 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Details of Sale or Leasehold Rights Transfer of Immovable Properties For the period from 1 January 2012 to 31 December 2012 - None -

Details of Loan of Fund For the period from 1 January 2012 to 31 December 2012 Lending Bank

Bangkok Bank PLC.

Repayment Term

10 years

Amount of loan

Baht 600 million

(as of the date of the contract) Amount of outstanding loan balance

Baht 600 million

(as of 31 December 2013) Proportion of loan

10% of the NAV

(as of 31 December 2013) Collateral

Deposits of Baht 30 million

Remark : The Fund withdraw Baht 600 million of loan on 24 December 2012.

9 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Property Market Situation and Outlook At the end of 2012, the total retail supply in Bangkok increased to 6.21 million sq.m., rising by 8.88% y-o-y. Bangkok’s retail supply increased in all areas – downtown, midtown and the suburbs. Downtown area achieved the highest growth at 4.83% to 1.22 million sq.m. from Watergate Pavillion (45,000 sq.m.), follows by suburbs area at 11.46% to 2.60 million sq.m. from several projects such as Thanya Shopping Park at Srinakarin Road, The Coast Village at Bangna and midtown area at 8.29% to 2.38 million sq.m. from The Square at Sukhumvit 26 and The Scene at Town in Town. Currently, more than half of the retail developments are in the shopping mall formats follows by superstore (Tesco Lotus, Big C, Makro) department store and which accounts for 59.60%, 20.40% and 20.00% of total retail supply respectively. The overall occupancy rate of Bangkok retail properties in 2012 stood at 96.48%, increasing by 4.81% y-o-y. The suburban area saw the highest occupancy rate at 97.96% - increasing 1.90% y-o-y, follows by the downtown area at 95.70% - increasing 8.30% y-o-y, and the midtown area at 95.30% increasing 6.00% y-o-y. The overall rental rate in 2012 has been largely stable, with just marginal growth compared with the previous year. The rental rates were highest in the downtown area and lowest in suburb area. In downtown areas, the rental rates for Grade A Shopping centers range from Baht 1,800-3,500/sqm./month on the ground floor to Baht 1,520-2,600/sq.m./month on the upper floors. In midtown areas, the rental rates range from Baht 1,500-2,680/sqm./month on the ground floor to Baht 1,040-2,100/sq.m./month on the upper floors. In suburban areas, the rental rate range from Baht 1,200-3,300/sq.m./month on the ground floor to Baht 800-1,100/sq.m./month on the upper floors. The retail supply in Bangkok is set to increase. Based on projects already announced, an additional 0.58 million sq.m. will be completed within the next 2 years, increasing the total Bangkok retail supply to 6.79 million sq.m. Of this, 0.44 million sq.m. of retail space is expected to be complete in 2013, bringing the total retail supply increasing by 7.10% to 6.65 million sq.m. by the end of 2013. The overall retail outlook is expected to be in a good condition. The Retail Sales Index as of November 2012 fell to 235.33 - increasing 54.76% y-o-y. This was mainly due to consumer spending bounce back after the floods last year and the tax rebates for first time car buyers. However we expect the retail market will continue to grow, driven by the government’s economic stimulus policies and the dramatic expansion of modern trade especially convenience stores. Source : CB Richard Ellis (Thailand) Co., Ltd.

10 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Total Expenses as called from Property Fund For the period from 1 January 2012 to 31 December 2012 Amount (Thousand Baht)

% of Net Assets Value

Management Fee

7,827.44

0.15

Trustee Fee

1,128.49

0.02

Registrar Fee

1,980.02

0.04

78,330.19

1.47

999.14

0.02

Insurance Premium

10,194.88

0.19

Property Tax

12,326.44

0.23

Property Marketing And Administrative Expenses

57,993.29

1.09

Asset Appraisal Fee

149.80

0.00

Listing Fee -Written Off

395.08

0.01

Other Expenses

1,631.45

0.03

Total Expenses

172,956.23

3.25

Fund's Direct Expense1

Property Management Fee Auditing Fee

Remark

1

Included VAT

11 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Name List of Fund Manager For the Period from 1 January 2012 to 31 December 2012 No.

Name List of Fund Manager

Property Fund Manager 1

Mrs. Voravan Tarapoom

2

Mr. Sudhipongse Phuaphanprasert

3

Ms. Siriphen Wangdumrongves

4

Ms. Warisara Techakulwirote

5

Mr. Apiched Ritsuwan

6

Ms. Natree Panassutrakorn *

Mutual Fund Manager (Liquidity Portion) 1

Mrs. Voravan Tarapoom

2

Mr. Peerapong Jirasevijinda

3

Ms. Sudarat Tippayatordtana

4

Ms. Dusadee Pupatana

5

Mrs. Atikarn Bhanijkasem

6

Ms. Priyanuch Klongkumnuankarn

7

Ms. Chanikarn Leelathammarat

8

Ms. Arunee Silpkarnpradit

9

Ms. Sirarat Arunjit

* Termination Date : 1 March 2013

List of Related Persons having transactions with the Fund managed by BBL Asset Management Company Limited As of 31 December 2012 No.

List of Related Persons

1

Rangsit Plaza Co., Ltd.

2

Bangkok Bank PLC.

“The investor can inspect the transactions entered into with the related persons of the mutual fund at the management company directly or at the website of the management company (www.bblam.co.th) and the Office of SEC (www.sec.or.th)”

12 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

List of Soft commission As of December 31, 2012 COMPANY

BENEFIT

REASON

BANK OF AMERICA, NATIONAL ASSOCIATION

Research paper

For fund benefit

BANK OF AYUDHYA PUBLIC COMPANY LTD.

Research paper and Indicative Yield

For fund benefit

BANGKOK BANK PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

BNP PARIBAS

Research paper and Indicative Yield

For fund benefit

CIMB THAI BANK PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

CITIBANK, N.A.

Research paper and Indicative Yield

For fund benefit

DEUTSCHE BANK AG.

Research paper and Indicative Yield

For fund benefit

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Research paper and Indicative Yield

For fund benefit

KASIKORNBANK PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

KRUNG THAI BANK PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

THANACHART BANK PUBLIC COMPANY LTD.

Indicative Yield

For fund benefit

TISCO BANK PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

UNITED OVERSEAS BANK (THAI) PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

STANDARD CHARTERED BANK (THAI) PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

TMB BANK PUBLIC COMPANY LIMITED

Research paper and Indicative Yield

For fund benefit

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Research paper and Indicative Yield

For fund benefit

SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.

Research paper and Indicative Yield

For fund benefit

ASIA PLUS SECURITIES PLC.

Indicative Yield

For fund benefit

13 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

14 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

Auditor Report and Financial Statements 31 December 2012

15 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

16 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

17 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

18 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

19 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

20 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

21 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

22 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

23 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

24 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

25 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

26 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

27 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

28 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

29 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

30 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

31 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

32 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

33 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

34 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

35 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

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Annual Report For the Period of 1 January 2012 – 31 December 2012

37 Future Park Leasehold Property Fund


Annual Report For the Period of 1 January 2012 – 31 December 2012

BBL Asset Management Company Limited. Background BBL Asset Management Co., Ltd. was registered on March 19, 1992 with a fully paid-up registered capital of Baht 100 million, the registered number 0105535049700. It was granted a license to operate asset management business from the Ministry of Finance under the license number LorKor-0005-02 dated on January 15, 2010.

Location of the Office BBL Asset Management Company Limited 175 Sathorn City Tower, 7th, 21st and 26th floor South Sathorn Road, Sathorn, Bangkok 10120 Tel. 0-2674-6488 FAX : 0-2679-5996 www.bblam.co.th

Compiled data as of February 13, 2013

38 Future Park Leasehold Property Fund


BBL ASSET MANAGEMENT CO., LTD. 175 Sathorn City Tower, 7th, 21st and 26th Floor South Sathorn Road, Sathorn, Bangkok 10210. Tel. (662) 674-6488 Fax : (662) 679-5996 www.bblam.co.th

:: Annual Report 2012 ::  

:: Annual Report 2012 ::

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