LH’s Subsidiary Sells Apartment Building in California, Booking ฿2.4Bn to 4Q20 Profit

Land and Houses Public Company Limited (LH) announced Land and Houses USA Inc., the Company’s 100% owned subsidiary, has sold the apartment building in California named “The Mode Residence” to a non-related party at total price of 80.05 million U.S. dollars or 2,415.59 million baht (at exchange rate 1 U.S. dollar = 30.176 baht), equivalent to 1.99% of total assets (according to the Company’s financial statements as of 30 September 2020). 

The above mentioned divestment by Land and Houses USA Inc. would have profit (before tax) in an amount of 13.77 million U.S. dollars or 415.52 million baht and the Company will recognize such profit in the fourth quarter of 2020.