Quality Houses Public : Connected transaction with regard to hotel management advisory contract

		(Translation)
CS 0409/2020	December 18, 2020
Subject:	Connected transaction with regard to	hotel management advisory contract
Attn:	President
	The Stock Exchange of Thailand

With reference to the Board of Directors' Meeting No 10/2020 of Quality Houses Public Company Limited ("the Company") held on December 18, 2020 at the meeting room 7th Floor Q.House Lumpini Building, South Sathorn Road, Bangkok has approved the Company and the subsidiary to make a hotel management advisory contract of Centre Point Terminal 21 Korat Hotel which is owned by Siam Retail Development Company Limited ("Siam Retail"). This transaction is classified as the connected transaction with the following details:

Transaction date	:	After the approval of the Board of Directors' meeting
Connected parties	:	Employee : Quality Houses Public Company Limited	(the
		Company) and
		Q.H. International	Company Limited , the Subsidiary	of the
		Company ("the Subsidiary")
		Employer : Siam Retail Development Company Limited ("Siam
		Retail")
Transaction description	:	1) The Subsidiary	is employed	for a hotel management advisor
		to Centre Point Terminal 21 Korat Hotel which also granted the
		right to use the	brand "Centre Point"
		2) The Company services the hotel system software
		for 3 years (1 January 2021 - 31 December 2023), with a renewal
		option upon mutual agreement
		The Board of Directors provide	authority to the management to
		negotiate on any terms and conditions of such contract and other
		related documents as the management deem appropriate
Value of connected	:	1) The remuneration of advisor is based on 2% of total revenues
Transactions		(excluding some	categories of revenues that have already
		declared in the hotel management advisory contract) which is
		approximately a total of Baht 8 Million throughout 3 years. The
		remuneration is calculated from forecasted total revenues of
		Centre Point Terminal 21 Korat	Hotel, with the following details :
				(Unit: Million Baht)
		Year	2021	2022	2023
		Total Revenue	115	135	150

1

(Translation)

		2) The remuneration of a hotel system software services is Baht
		440,000 per	annum, which is	a total of Baht 1,320,000
		throughout 3	years
		Total remuneration throughout	3 years is approximately Baht
		9,320,000
Type and size of transaction	:	This transaction is considered as an ordinary support business
		transactions without any trade condition. The calculated size of
		this transaction is 0.036% which is more than 0.03% but less than
		3% of the net tangible assets ("NTA") based on the Company's
		consolidated financial statement as of September 30, 2020. The
		size of transaction is considered as a medium size. Therefore, the
		Company is required to get the approval from the Board of
		Directors and has to disclose the information to the Stock
		Exchange of Thailand
Criteria for determining remuneration	:	The remuneration is similar to that of operators in the same
		business
Details of the connected persons	:	Ms. Piengchai Harnpanich is a director of Siam Retail, as well as a
		mother of Mr. Anant Asavabhokhin, the major shareholder of Land
		and Houses Public Company Limited which is the major
		shareholder of Quality Houses Public Company Limited
The connected director	:	None
The Board of Directors'	:	The Board of Directors' meeting has considered and given
Opinion		opinion that the connected transaction is reasonable and it is a
		normal operation business of the Subsidiary
The opinion of the Audit Committee	:	None
and/or the directors that different from
The Board of directors
Please be informed accordingly.
			Sincerely yours
			Apinya Jarutrakulchai
			(Ms. Apinya Jarutrakulchai)
Corporate Secretary Department			Senior Executive Vice President
Tel. [phone]				2