Dear Ms. Koonlacha,Sawasdee khrub.T

Dear Ms. Koonlacha,

Sawasdee khrub.
Thank you for your help in the matter of ownership transfer of the land in July last year, which I will never forget in my life.

Related to this matter, we would like to ask for your comment/opinion to the following situation.

1) currently our shareholders and their potions are Tokyo Seimitsu
(Thailand) : 70.1%, Tokyo Seimitsu Japan : 29.89% and TOSEI (Thailand) :
0.01%.
2) we have to invest in production machines to expand capacity, and we want to finance it by capital increase.
3) we want that the capital increase is done solely by Tokyo Seimitsu Japan, as Tokyo Seimitsu (Thailand) has no liquidity for it (as you know, purchasing shares of Tokyo Seimitsu Thailand is financed by loan from Tokyo Seimitsu Japan).
4) we think, our company (Accretech Adamas Thailand) maintains the right to own the land, even if the share-holding portion of Tokyo Seimitsu Thailand would decrease to 51%, because it remains still Thai company.

I personally can hardly imagine that land office would find such decrease of Thai share-holding portion and claim (?) to us.
(but I experienced, in Thailand everything is possible!!)

Can you confirm that it is 100% legal for us to do it, or is there any risk for us? If there is, which kind of risk?
If there is a risk, which countermeasure would be possible?
(I personally found one possible solution, namely to get IHQ -- International Headquarter -- status from BOI, and it is secured to own the land by having this status)

Thank you for your support in advance.

Best regards.

Kimito Koizumi

P.S. We have not had any opportunity to go to drinking together yet (555).