2. Nature of Business Operations

  KTP is a developer of quality residential properties in Thailand. The
  Company is associated with Keppel Land Limited (“Keppel Land”), one of
  Singapore’s largest listed property groups and a well-established
  regional property company. Keppel Land is a substantial shareholder of
  KTP with a 45.45% shareholding. KTP is developing two landed housing
  projects under the “Villa Arcadia” brand.

2.1 Business Overview of the Group

  The Company is focused on property development, especially in detached
  housing. The Group’s main business is property development, which is
  conducted through KTP and its subsidiary companies as table presented
  below;

  -------------------------- --------------------------------------------
  Company Name               Main Business

  KTP                        Property development, provides leasing and
                             other services for its office space.

  Thai-Kami Co., Ltd         Develops residential properties

  Gold Star Property Co.,    Sells residential condominium units and
  Ltd.                       develops residential properties

  Cornerstone Realty Co.,    Constructs, develops residential properties
  Ltd.                       

  Top Property Co., Ltd.     Develops residential properties
  -------------------------- --------------------------------------------

  KTP is presently developing freehold land for housing development
  under the brand Villa Arcadia in prime suburban neighborhoods, namely

-   At Srinakarin Road with area 99-3-97.8 rai freehold land for 367
    residential units;

-   At Watcharapol Road with area 78-0-46 rai freehold land for 270
    residential units.

    2.2 Investment structure as of 31 December 2008

[]

The revenue of the Company and its subsidiary companies can be analyzed
as follows:

  --------------- ------------- ----------- ---------- ------- ------- ------- ------- -------
  Product Line/   Operated by   % Shares    Revenue                                    
  Business Group                held by the (Million                                   
                                Company     Baht)                                      

                                            2006       %       2007    %       2008    %

  Lease and       KTP           -           38.8       15.4    38.5    15.2    38.9    12.6
  services                                                                             

  Sale of         Gold Star     100 %       1.5        0.6     -       -       -       -
  condominiums                                                                         

  Sale of land    Thai-Kami,    100 %       176.4      69.8    203.4   80.1    218.3   70.8
  and house       Gold Star,                                                           
  Construction    Cornerstone                                                          

  Sale of land    Top Property  61%         -          -       3.6     1.4     30.2    9.8
  and house                                                                            
  Construction                                                                         

  Others          -             -           35.9       14.2    8.5     3.3     21.1    6.8

  Total           -             -           252.6      100.0   254.0   100.0   308.5   100.0
  --------------- ------------- ----------- ---------- ------- ------- ------- ------- -------

  Note: Details of revenue of the Company and its subsidiary companies
  are disclosed in the Company’s Financial Statements.