Duplicate
Memorandum of Amendment
Contract of Permission for Operating Business
Selling Duty Free Merchandise and Leasing Spaces for Operation
Bangkok International Airport, and Regional Airports
Contract No. 6-04/2539 dated 6 March 1996
Amendment 1
This memorandum is made at the Airports Authority of Thailand on 11 July 2000,
between the Airports Authority of Thailand, represented by Flight Lieutenant
Usar Borisuth, Deputy Managing Director, Acting Managing Director of the
Airports Authority of Thailand, hereinafter called "AAT" of one part, and J.M.T.
Duty Free Co., Ltd., registered as a juristic person Company Limited under the
Civil and Commercial Code, which thereafter has changed the name to King Power
Duty Free Co., Ltd. on 9 September 1997, with the head office at 26th-27th
Floors, Siam Tower, 989 Rama I Road, Pathum Wan Sub-district, Pathum Wan
District, Bangkok Metropolis, represented by Mr. Viratana Suntaranond, the
person empowered to enter juristic act binding King Power Duty Free Co., Ltd.
according to the Certificate No. Phor.Hor. 0009829 dated 15 June 2000, issued by
the Office of Partnership/Company Registration, Bangkok, hereinafter called the
"Operator" of the other part.
Whereas AAT has granted a permission to the Operator to operate the business of
selling duty free merchandise and to lease the premises for operation at the
Bangkok International Airport and the regional airports, for a period of five
years, from 1 January 1997 to 31 December 2001, according to the Contract No.
6-04/2539 dated 6 March 1996,
And whereas AAT has examined the actual space of operation, the actual
commencement date of operation, the zones, additional leased space, cancellation
of certain leased premises, change of name of juristic person, change of
remuneration and performance guarantee, and permission for selling additional
items of merchandise, according to the following details :
1. Additional Lease
1.1 To lease zone No. 3265 P, covering an area of 246 square
metre, in the International Passenger Terminal 1, the Bangkok
International Airport, from 6 January 1997 to 29 January 1997;
and the space in front of the Operator's business premises in
Terminal 2, covering an area of 200 square metre, from 1
January 1997 to 23 January 1997;
1.2 To lease zone No. 3715 B, covering an area of 6.30 square
metre, in the International Passenger Terminal 2, the Bangkok
International Airport, effective 24 January 1997;
1.3 To lease zone No. 1 A 230 , covering an area of 39 square
metre, in the Passenger Terminal, the Chiang Mai International
Airport, from 25 June 1997; and zone 116 A, covering an area
of 160 square metre, in the Warehouse Building, the Chiang Mai
International Airport, effective 1 January 1997;
1.4 To lease Xxxx Xx. 000, covering an area of 22.09 square metre,
in the Passenger Terminal, the Phuket International Airport,
effective 1 January 1997;
1.5 To lease zone No. 3715 C, covering an area of 8.50 square
metre, in the International Passenger Terminal 2, the Bangkok
International Airport, effective 12 September 1997;
1.6 To lease zone No. 3342 A/2, covering an area of 45.50 square
metre, in the International Passenger Terminal 1, the Bangkok
International Airport, effective 24 November 1997;
1.7 To relocate zone No. 3715 B, covering an area of 6.30 square
metre to the new location, under the same zone number, and to
increase the space to 29.50 square metre, effective 26
December 1997;
1.8 To lease Room No. 102, covering an area of 96 square metre, in
the Warehouse Building, the Phuket International Airport, from
1 January 1998 to 31 December 2000; and to lease out Room No.
101, covering an area of 45.60 square metre, in the Warehouse
Building, the Phuket International Airport, effective 15
September 1999;
1.9 To lease the space on the 3rd Floor of the Departure Lounge,
the International Passenger Terminal 1, covering an area of
17.50 square metre, which is designated as zone No. 3342 A/1
(downstairs), effective 6 February 1998;
The existing zone No. 3342 A/1 under the existing lease,
covering an area of 340.50 square metre, is designated as zone
3342 A/1 (upstairs).
1.10 To lease zone No. 3265 P, covering an area of 246 square
metre, in the International Passenger Terminal 1, the Bangkok
International Airport, effective 28 January 1998;
1.11 To lease zone No. 3772/1, covering an area of 31 square metre,
in the International Passenger Terminal 2, the Bangkok
International Airport, effective 7 April 1998;
1.12 To lease zone No. 3715 D, covering an area of 7.50 square
metre; and zone No. 3715 E, covering an area of 91.50 square
metre in the International Passenger Terminal 2, the Bangkok
International Airport, effective 18 May 1998;
1.13 To lease zone No. 3342 E, 3342 E/1, 3342 E/2 and 3342 E/3,
covering the total area of 298.50 square metre, in the
International Passenger Terminal 1, the Bangkok International
Airport, which were original the leased premises of King Power
Tax Free Co., Ltd., effective 5 September 1998;
1.14 To lease zone No. 3265 P/1, covering an area of 4.50 square
metre, in the International Passenger Terminal 1, the Bangkok
International Airport, effective 16 June 1998;
1.15 To lease zone No. 3265 P/2, covering an area of 1 square
metre, in the International Passenger Terminal 1, the Bangkok
International Airport, effective 16 August 1998;
1.16 To lease zone Nos. 3266 D and 3266 E in the International
Passenger Terminal 1; and zone Nos. 3266 F 3266 G in the
International Passenger Terminal 2, the Bangkok International
Airport, covering an area of 5 square metre for each zone,
effective 1 May 1999;
1.17 To lease zone Nos. 3266 H, 3266 J, 3266 K, 3266 L and 3266 M
in the International Passenger Terminal 1; and zone No. 3266 N
in the International Passenger Terminal 2, the Bangkok
International Airport, covering an area of 5 square metre for
each zone, effective 1 June 1999;
1.18 To lease zone No. 3735 A/1, covering an area of 103 square
metre, in the International Passenger Terminal 2, the Bangkok
International Airport, effective 1 April 2000; and
1.19 To lease zone No. DI 208, covering an area of 106.32 square
metre; zone No. AI 108, covering an area of 42.50 square
metre; and zone No. AI 109, covering an area of 42.50 square
metre; in the Passenger Terminal, the Phuket International
Airport, effective 1 December 1999.
2. Cancellation of Lease, Decrease of Leased Area
2.1 To cancel the lease of zone No. 1349 E, covering an area of
7.50 square metre, in the International Passenger Terminal 1,
the Bangkok International Airport, effective 1 February 1997;
2.2 To cancel the lease of zone Nos. 233, 234 and 161 A, covering
the total area of 71 square metre, in the Hat Yai Airport,
effective 1 February 1999;
2.3 To cancel the lease of zone Nos. 237, 239, 247, 248, 135 and
145, in the Passenger Terminal, the Phuket International
Airport, effective 1 December 1999;
2.4 To decrease the area of zone No. 3715 C, in the International
Passenger Terminal 2, the Bangkok International Airport, from
8.50 square metre to 2.50 square metre, effective 18 May 1998;
and
2.5 To relocate the business premises in the Arrival Lounge of
International Passenger, the Chiang Mai International Airport,
covering the total area of 20 square metre, to the new
location nearby, and the area has been decreased to 15 square
metre, effective 9 January 1999.
3. AAT has permitted the Operator to change the name of juristic person
from "J.M.T. Duty Free Co., Ltd." to "King Power Duty Free Co., Ltd."
effective 9 September 1997.
4. Change or Remuneration
4.1 AAT has reduced the minimum remuneration for year 1 (January -
December 1997) to Baht 592,240,000.00 (Five Hundred Ninety-Two
Million Two Hundred Forty Thousand Baht Only). Based on 30% of
the total revenues for the period January - December 1997, as
compared to the minimum remuneration for year 1, the Operator
shall pay whichever amount is higher to AAT.
4.2 AAT has permitted the Operator to make use of zone Nos. 0000 X
(0000 E, 3342 E/1, 3342 E/2 and 3342 E/3) of King Power Tax
Free Co., Ltd., covering the total area of 298.50 square
metre, whereby the monthly rents shall be increased at Baht
32,677.44 per square metre, from 5 September 1998 to 28
February 1999. Effective 1 March 1999 the remuneration shall
be 15% of the total revenues of the duty free merchandise for
that particular month, before deduction of expenses, and the
minimum remuneration for each year shall be :
- From 1 March 1999 to 31 December 1999, Baht 82,027,655.73
(Eighty-Two Million Twenty-Seven Thousand Six Hundred
Fifty-Five Baht Seventy-Three Satang)
- From 1 January 2000 to 31 December 2000, Baht
101,937,408.32 (One Hundred and One Million Nine Hundred
Thirty-Seven Thousand Four Hundred and Eight Baht
Thirty-Two Satang)
- From 1 January 2001 to 31 December 2001, Baht
105,444,055.17 (One Hundred and Five Million Four Hundred
Forty-Four Thousand Fifty-Five Baht Seventeen Satang)
4.3 AAT has permitted the Operator to lease 10 spots for setting
cart for selling duty free merchandise, covering an area of 5
square metre per spot, in the Departure Lounge, the
International Passenger Terminal 1 and the International
Passenger Terminal 2, the Bangkok International Airport, with
the remuneration at 15% of the total revenues for that
particular month, before deduction of expenses, and the
monthly minimum remuneration shall be :
Year 1999 Baht 26,898.62 (Twenty Six Thousand Eight Hundred
Ninety-Eight Baht Sixty-Two Satang) per square metre/month
Year 2000 Baht 28,458.56 (Twenty Eight Thousand Four Hundred
Fifty-Eight Baht Fifty-Six Satang) per square metre/month
Year 2001 Baht 29,437.25 (Twenty Nine Thousand Four Hundred
Thirty-Seven Baht Twenty-Five Satang) per square metre/month
The Operator may commence making use of the four spots,
covering the total area of 20 square metre, effective 1 May
1999, and commence making use of the six spots in the Terminal
2, covering the total area of 30 square metre, effective 1
June 1999
4.4 AAT has permitted the Operator to lease zone No. 3735 A/1,
covering an area of 103 square metre, in the International
Passenger Terminal 2, the Bangkok International Airport,
effective 1 April 2000, with the remuneration at 15% of the
total revenues the sales of duty free merchandise for that
particular month, before deduction of expenses, and the
monthly minimum remuneration shall be :
Year 2000, from 1 April 2000 to 31 December 2000, Baht
2,931,231.68 (Two Million Nine Hundred Thirty-One Thousand Two
Hundred Thirty-One Baht Sixty-Eight Satang)
Year 2001, from 1 January 2001 to 31 December 2001, Baht
3,032,036.75 (Three Million Thirty-Two Thousand Thirty-Six
Baht Seventy-Five Satang)
5. AAT has changed amount of the performance guarantee, thereby the
performance guarantee for operating the business under this contract
shall be six times of the monthly minimum remuneration (an average of
the minimum remuneration per year), for the minimum remuneration the
Operator has to pay AAT commencing in the year 2 of operation onwards.
Therefore, AAT and the Operator agree to enter into this memorandum, as follows:
1. AAT agrees to reduce the minimum remuneration for year 1 of operation
(January - December 1997) to Baht 592,240,000.00 (Five Hundred
Ninety-Two Million Two Hundred Forty Thousand Baht Only). Based on 30%
of the total revenues for the period January - December 1997, as
compared to the minimum remuneration for year 1, the Operator shall pay
whichever amount is higher to AAT.
2. AAT has permitted the Operator to lease additional space for operating
the business of selling duty free merchandise, covering the total area
of 298.50 square metre, whereby the remuneration has been increased at
Baht 32,677.44 (Thirty-Two Thousand Six Hundred Seventy-Seven Baht
Forty Four Satang) per square metre/month, from 5 September 1998 to 28
February 1999; and effective 1 March 1999 the remuneration at 15% of
the total revenues of that particular month, before deduction of
expenses, and the minimum remuneration for each year shall be :
- From 1 March 1999 to 31 December 1999, Baht 82,027,655.73
(Eighty-Two Million Twenty-Seven Thousand Six Hundred Fifty-Five
Baht Seventy-Three Satang)
- From 1 January 2000 to 31 December 2000, Baht 101,937,408.32 (One
Hundred and One Million Nine Hundred Thirty-Seven Thousand Four
Hundred and Eight Baht Thirty-Two Satang)
- From 1 January 2001 to 31 December 2001, Baht 105,444,055.17 (One
Hundred and Five Million Four Hundred Forty-Four Thousand Fifty-
Five Baht Seventeen Satang)
3. AAT has permitted the Operator to lease additional space for operating
the business of selling duty free merchandise at the Bangkok
International Airport, covering the total area of 20 square metre,
effective 1 May 1999, and addition 30 square metre, effective 1 June
1999, with the remuneration at 15% of the total revenues of that
particular month, before deduction of expenses, and the monthly minimum
remuneration shall be increased in proportion of the space effective
the commencement date of making use of the above spaces, as follows :
Year 1999 Baht 26,898.62 (Twenty Six Thousand Eight Hundred
Ninety-Eight Baht Sixty-Two Satang) per square metre/month
Year 2000 Baht 28,458.56 (Twenty Eight Thousand Four Hundred
Fifty-Eight Baht Fifty-Six Satang) per square metre/month
Year 2001 Baht 29,437.25 (Twenty Nine Thousand Four Hundred
Thirty-Seven Baht Twenty-Five Satang) per square metre/month
4. AAT has permitted the Operator to lease additional space for operating
the business of selling duty free merchandise at the Bangkok
International Airport, covering the total area of 103 square metre,
effective 1 April 2000, with the remuneration at 15% of the total
revenues of that particular month, before deduction of expenses, and
the monthly minimum remuneration shall be, as follows :
Year 2000, from 1 April 2000 to 31 December 2000, Baht 2,931,231.68
(Two Million Nine Hundred Thirty-One Thousand Two Hundred Thirty-One
Baht Sixty-Eight Satang)
Year 2001, from 1 January 2001 to 31 December 2001, Baht 3,032,036.75
(Three Million Thirty-Two Thousand Thirty-Six Baht Seventy-Five Satang)
5. Appendix A of the Contract No. 6-04/2539 dated 6 March 1996 shall be
repealed and replaced with Appendix A of this memorandum.
6. Appendix B of the Contract No. 6-04/2539 dated 6 March 1996 shall be
repealed and replaced with Appendix B of this memorandum.
7. In the Contract No. 6-04/2539 dated 6 March 1996, where it was
indicated J.M.T. Duty Free Co., Ltd. is the Operator shall be changed
to King Power Duty Free Co., Ltd., effective 9 September 1997.
8. The contents of the Contract No. 6-04/2539 dated 6 March 1996, besides
Clause 1 - Clause 7 of this memorandum, shall remain valid.
9. This memorandum is effective retroactively to 1 January 1997.
This agreement is made in duplicated copies. Both parties, having read and
understood it entirely, hereunder sign their names and affix seal (if any) in
the presence of witnesses and each retaining one copy.
(Seal of King Power Duty Free Co., Ltd.)
AAT Opertor
--- -------
- signed - - signed -
(Flight Lieutenant Usar Borisuth) (Mr. Viratana Suntaranond)
Witness Witness
------- -------
- signed - - signed -
(Mr. Krit Phakhakit) (Miss Sarinthon Chongchaidejwong)
Appendix A
(39 sheets)
Details of Location of the Leased Premises, Page 1
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Rents, Charges, Lease Period and Chart
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Memorandum of Amendment of Contract for Permission for
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Selling Duty Free Merchandise and Lease of Business Premises at
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Bangkok International Airport and Regional Airports
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Contract No. 6-04/2539 dated 6 March 1996
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Area Rents Rent Service Fee Building/ Lease Period
Leased Premises Sqm. Baht/Sqm. Baht/Month Baht/Month Land Tax
Per month Baht/Month From To
------------------------------ ------ --------- ---------- ----------- ---------- ------------- -------------
Bangkok International Airport
-----------------------------
- Zone No. 1349 E 7.50 750.00 5,625.00 843.75 703.13 16 Jan. 1997 31 Jan. 1997
- Zone No. 1363 A 43.50 750.00 32,625.00 4,893.75 4,078.13 16 Jan. 1997 31 Dec. 0000
- Xxxx Xx. 0000 X 7.20 750.00 5,400.00 810.00 675.00 16 Jan. 1997 31 Dec. 2001
- Zone No. 1749 A 75.00 750.00 56,250.00 8,437.50 7,031.25 16 Jan. 1997 31 Dec. 2001
- Zone No. 2237 A 133.50 750.00 100,125.00 15,018.75 12,515.63 1 Jan. 1997 31 Dec. 2001
- Zone No. 3303 C 36.00 750.00 27,000.00 4,050.00 3,375.00 16 Jan. 1997 31 Dec. 2001
- Zone No. 3342 A 646.00 750.00 484,500.00 72,675.00 60,562.50 30 Jan. 1997 31 Dec. 2001
- Xxxx Xx. 0000 X/0, Xxxxxxxx 340.50 750.00 255,375.00 38,306.25 31,921.88 21 Feb. 1995 31 Dec. 2001
- Zone No. 3715 A 295.00 750.00 221,250.00 33,187.50 27,656.25 24 Jan. 1997 31 Dec. 0000
- Xxxx Xx. 0000 X 6.30 750.00 4,725.00 708.75 590.63 24 Jan. 1997 25 Dec. 1997
29.50 750.00 22,125.00 3,318.75 2,765.63 26 Dec. 1997 31 Dec. 2001
- Zone No. 3265 P 246.00 750.00 184,500.00 27,675.00 23,062.50 6 Jan 1997 29 Jan. 1997
246.00 750.00 184,500.00 27,675.00 23,062.50 28 Jan. 1998 31 Dec. 2001
- Zone No. 3715 C 8.50 750.00 6,375.00 956.25 796.88 12 Sep. 1997 17 May 1998
2.50 750.00 1,875.00 281.25 234.38 18 May 1998 31 Dec. 2001
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Area Rents Rent Service Fee Building/ Lease Period
Leased Premises Sqm. Baht/Sqm. Baht/Month Baht/Month Land Tax
Per month Baht/Month From To
-------------------------------- ------ --------- ---------- ----------- ---------- ------------- -------------
- Temporary area 200.00 750.00 150,000.00 22,500.00 18,750.00 1 Jan. 1997 23 Jan. 1997
- Temporary area 150.00 750.00 112,500.00 16,875.00 14,062.50 1 Jan. 1997 5 Jan. 1997
- Zone No. 3342 A/2 45.50 750.00 34,125.00 5,118.75 4,265.63 24 Nov. 1997 31 Dec. 2001
- Zone No. 3342 A/1 17.50 750.00 13,125.00 1,968.75 1,640.63 6 Feb. 1998 31 Dec. 2001
- Zone No. 3772/1 31.00 750.00 23,250.00 3,487.50 2,906.25 7 Apr. 1998 31 Dec. 0000
- Xxxx Xx. 0000 X (0000 X,
0000 E/1, 3342 E/2, 3342 E/3) 298.50 750.00 223,875.00 33,581.25 27,984.38 5 Sep. 1998 31 Dec. 0000
- Xxxx Xx. 0000 X 7.50 750.00 5,625.00 843.75 703.13 18 May 1998 31 Dec. 0000
- Xxxx Xx. 0000 X 91.50 750.00 68,625.00 10,293.75 8,578.13 18 May 1998 31 Dec. 2001
- Zone No. 3265 P/1 4.50 750.00 3,375.00 506.25 421.88 16 Jun. 1998 31 Dec. 2001
- Zone No. 3265 P/2 1.00 750.00 750.00 112.50 93.75 16 Aug. 1998 31 Dec. 2001
- Zone No. 3266 D, 3266 E,
3266 F, and 3266 G 20.00 750.00 15,000.00 2,250.00 1,875.00 1 May 1999 31 Dec. 2001
- Zone Xx. 0000 X, 0000 X, 0000
X, 0000 X, 0000 X, 0000 N, 30.00 750.00 22,500.00 3,375.00 2,812.50 1 Jun. 1999 31 Dec. 2001
- Zone No. 3735 A/1 103.00 750.00 77,250.00 11,587.50 9,656.25 1 Apr. 2000 31 Dec. 2001
Chiang Mai International Airport
--------------------------------
- Zone No. 1 B 109 20.00 450.00 9,000.00 1,350.00 1,125.00 1 Jan. 1997 8 Jan. 1999
15.00 450.00 6,750.00 1,012.50 843.75 9 Jan. 1999 31 Dec. 2001
- Zone No. 1 B 208 40.00 450.00 18,000.00 2,700.00 2,250.00 1 Jan. 1997 31 Dec. 2001
- Zone No. 1 A 230 39.00 270.00 10,530.00 1,579.50 1,316.25 25 Jun. 1997 31 Dec. 2001
- Zone No. 116 A 160.00 150.00 24,000.00 3,600.00 3,000.00 1 Jan. 1997 31 Dec. 2001
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Area Rents Rent Service Fee Building/ Lease Period
Leased Premises Sqm. Baht/Sqm. Baht/Month Baht/Month Land Tax
Per month Baht/Month From To
-------------------------------- ------ --------- ---------- ----------- ---------- ------------- -------------
- Xxxx Xx. 000 24.00 450.00 10,800.00 1,620.00 1,350.00 1 Jan. 1977 31 Jan. 1999
- Zone No. 234 32.00 450.00 14,400.00 2,160.00 1,800.00 1 Jan. 1977 31 Jan. 1999
- Zone No. 161 A 15.00 450.00 6,750.00 1,012.50 843.75 1 Jan. 1977 31 Jan. 1999
Rooms & Space in Building of
----------------------------
Phuket International Airport
----------------------------
- Zone No. 237 and 239 29.00 450.00 13,050.00 1,957.50 1,631.25 1 Jan. 1977 30 Nov. 0000
- Xxxx Xx. 000 51.00 450.00 22,950.00 3,442.50 2,868.75 1 Jan. 1977 30 Nov. 0000
- Xxxx Xx. 000 80.00 450.00 36,000.00 5,400.00 4,500.00 1 Jan. 1977 30 Nov. 0000
- Xxxx Xx. 000 15.00 450.00 6,750.00 1,012.50 843.75 1 Jan. 1977 30 Apr. 0000
- Xxxx Xx. 000 40.00 450.00 18,000.00 2,700.00 2,250.00 1 Jan. 1977 30 Nov. 0000
- Xxxx Xx. 000 36.50 450.00 16,425.00 2,463.75 2,053.13 1 Jan. 1977 30 Nov. 1999
- Zone No. AI 108 42.50 450.00 19,125.00 2,868.75 2,390.63 1 Dec. 1999 31 Dec. 0000
- Xxxx Xx. XX 000 42.50 450.00 19,125.00 2,868.75 2,390.63 1 Dec. 1999 31 Dec. 2001
- Zone No. DI 208 106.32 450.00 47,844.00 7,176.60 5,980.50 1 Dec. 1999 31 Dec. 0000
- Xxxx Xx. 000 22.09 270.00 5,964.30 894.65 745.54 1 Jan. 1997 31 Dec. 0000
- Xxxx Xx. 000 45.60 180.00 8,208.00 1,231.20 1,026.00 15 Sep. 1999 31 Dec. 0000
- Xxxx Xx. 000 96.00 180.00 17,280.00 2,592.00 2,160.00 1 Jan. 1998 31 Dec. 2000
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