Following the ruling of the Supreme Administrative Court regarding the Ashton Asoke project on July 27, 2023, Ananda MF Asia Asoke Co., Ltd. ("the Company") would like to update the co-owners on the progress of the ongoing problem-solving measures as follows:

  1. Five ongoing problem-solving measures:
    1. Submitting a new construction permit application by purchasing or finding additional land.

The Company has discussed the resolution approach with the Bangkok Metropolitan Administration (BMA) to comply with the criteria set forth in Ministerial Regulation No. 33, which states that land used for special large buildings must have at least one side measuring no less than 12 meters adjacent to a public road. Currently, the Company is exploring options for acquiring land, considering both purchasing and/or obtaining legal rights to the land, with the expectation of reaching a conclusion on finding new land as soon as possible.

After discussions, the Company has assessed the operational steps, including the timeline for resolving issues and applying for a new construction notification, with the following details:

  1. The Company will submit an Environmental Impact Assessment (EIA) report to the Office of Natural Resources and Environmental Policy and Planning (ONEP) for consideration, which may require amendments and will take approximately 2 months.
  2. Once the complete Environmental Impact Assessment (EIA) report is obtained, the Company will apply for a construction permit under Section 39/2, which the BMA will take approximately 14 working days to process.
  3. Upon receiving the construction notification under Section 39/2, the Company will proceed with construction to rectify the project's entrance and exit in accordance with the Environmental Impact Assessment (EIA) report, which is expected to take about 3 months.
  4. Once the above construction is completed, the BMA will inspect the project and issue a construction certificate (A.5), which will take approximately 14 working days for the BMA to process.

The estimated timeline for operations, including the resolution and/or application for a new construction notification and other matters, is approximately 6 months from the date of securing new land.

    1. Filing a petition with the Administrative Court for reconsideration of the case.

The petition to the Administrative Court for reconsideration is based on the powers granted by the Administrative Court Establishment Act and Administrative Procedure Act B.E. 2542, Section 75, which outlines the grounds for requesting a case reconsideration as follows:

  1. The Administrative Court has misheard the facts or there is new evidence that may alter the established facts significantly.
  2. The actual parties or outsiders were not included in the proceedings or were included but were unfairly denied the opportunity to participate.
  3. There were significant flaws in the trial process that resulted in an unjust outcome.
  4. The judgment or order was made based on facts or laws that later changed significantly, making the judgment or order contrary to the applicable law at that time.

Currently, the Company is considering the grounds for filing a petition for reconsideration, which include several cases such as discrepancies in fact-finding, the reception of evidence during the court proceedings, and potential future changes in the laws applicable to the judgment.

This process must be completed within 90 days from the date of awareness of the grounds, but not exceeding 5 years from the date of the judgment. The Company expects to file the petition with the Administrative Court within 90 days from the date of the Administrative Court's ruling (July 27, 2023).

1.3 Coordinating with the original owner to request the return of land expropriated by the Mass Rapid Transit Authority of Thailand (MRTA).

The Company is in the process of coordinating with the original landowner to request the return of land that the MRTA has not used for the purpose of expropriation, based on the powers granted by the Land Expropriation Act B.E. 2562, Section 53, and the Ministerial Regulation on the Return of Expropriated Land B.E. 2564.

    1. Proposing to government agencies to amend relevant laws through the MRTA, to be submitted through the Ministry of Transport and approved by the Cabinet for submission to the Parliament.

The Company will propose to government agencies to amend the laws related to expropriation to expand the scope for government agencies to use expropriated land for its intended purpose and for other appropriate benefits. This process must be proposed for amendment by the MRTA through the Ministry of Transport and approved by the Cabinet for submission to the Parliament, which is expected to take approximately 1 year from the date the relevant government agency drafts the proposed law amendment.

1.5 Proposing to government agencies to amend relevant laws through the BMA to the Department of Public Works and Town & Country Planning, Ministry of Interior, to the Cabinet.

The Company will propose to government agencies to amend Ministerial Regulation No. 33 to clarify that land without any side adjacent to a public road, but with other land that can be utilized as an access route for fire trucks of no less than 12 meters, can be used as the site for high-rise buildings or special large buildings. This amendment must be proposed by the BMA to the Department of Public Works and Town & Country Planning for submission to the Ministry of Interior and the Cabinet, which is expected to take approximately 3 months from the date the relevant government agency drafts the proposed law amendment.

  1. Measures to assist co-owners with loan repayment obligations to financial institutions.

The Company has coordinated with several major financial institutions to alleviate the burden of loan repayments for co-owners who still have obligations to financial institutions. Co-owners can apply for a special interest rate (Retention) at the branch of the financial institution where they applied for the loan. If there are any issues, they can contact Ms. Umaporn Paesomboon (Customer Care Officer, Ashton Asoke Project) at [email protected] or call 087-5503952 for further inquiries. The results will be subject to the criteria and conditions of each financial institution.

The Company remains committed to standing alongside all co-owners in expediting the search for solutions to the best of its ability. Some of these approaches will require cooperation between the co-owners and the Company to achieve the desired outcomes. This is to ensure that the root causes of the problems are addressed, and with the cooperation of all co-owners, the Company is confident that the resolutions outlined above can be implemented quickly and effectively. The Company will continuously update all co-owners on significant progress.