In March 2016, North Sathorn Realty Co., Ltd. (“NSR”) a wholly-owned subsidiary of company entered into an agreement with Gold Property Fund (Lease Hold) to sub-lease the land and buildings and to lease furniture and equipment of the Mayfair Marriott Project (See note (a) above) for approximately 16 years from 8 May 2007 to 15 March 2023 unless the Fund exercises its right to renew the agreement for an additional 10 years. The rental payable to the Fund under the agreement comprises a fixed monthly sum of Baht 4.00 million and a variable monthly sum to be determined based on the operating results of Grand Mayfair Co., Ltd