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PMTP Advocates Legal Adherence, Ensures Strong Financial Foundation

Following the recent court decision regarding The Met's objection to the Environmental Impact Assessment (EIA) report for the 125 Sathorn project, PMT Property Company Limited (PMTP), as the developers of the 125 Sathorn project, wishes to clarify its role as an affected party in the ongoing administrative case. PMTP emphasises it is not the primary defendant. However, the company is significantly impacted by the court’s ruling on the incorrect Floor Area Ratio (FAR) calculations of The Met project.

Prior to this, PMTP received official documentation from the Public Works Department confirming the calculations for the Floor Area Ratio (FAR) of The Met project. PMTP placed reliance on this approved government document, believing it to be accurate and correct, and utilised this information in preparing the submission of the Environmental Impact Assessment (EIA) report for the 125 Sathorn project in accordance with legal procedures and requirements.

Subsequently, The Bangkok Expert Committee of Environmental Impact Assessment on Buildings, Land Subdivision and Community Services had approved the EIA Report for 125 Sathorn project based on this information. However, the recent court ruling has determined that the Floor Area Ratio (FAR) calculations officially received by PMTP from the Public Works Department for The Met project, were incorrect, affecting the approval status of the EIA permit for the 125 Sathorn project and any construction permit associated with it. Affirmation that the Company has Diligent Adherence to Legal Procedures PMTP confirms that the process of obtaining construction permit documentation and EIA approval have been meticulously and diligently carried out, in line with the laws in all respects. The company has strictly examined legal guidelines and received official confirmation and permit approvals under the regulation and control of government authorities.

PMTP Assures its Robust Financial Stability, Ensures Confidence to Valued Customers PMTP has provided explanation to its esteemed customers and is open to hearing their concerns and feedback. The company expresses genuine gratitude to customers for their understanding and continued support for the project, despite the impact PMTP has faced. PMTP remains committed to successfully completing the project within the framework of the law and is actively seeking the most suitable resolution for the situation.

PMTP Property Company Limited, a Joint Venture collaboration between Thoresen Thailand Agency Public Company Limited and our Japanese investors, Kanden Realty & Development Company Limited (KRD), Toray Construction Company Limited (TCC), assures its robust financial stability and formidable investment strength and resolute commitment and preparedness for contingency plans for construction progress, ensuring minimal impact on customers. We remain confident that the project will proceed until successful completion, in line with the developer’s expectations.

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