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furniture, fixtures and equipment and the Lease Agreement for Plaza Building and Glow Trinity
Silom Arcade and furniture, fixtures and equipment.
Nevertheless, the income from the operation of Glow Trinity Silom Building and Plaza Building and
Glow Trinity Silom Arcade under the management of Invision Hospitality Company Limited (as
Serviced Apartment Manager) and Silomall Co., Ltd. (as Lessee) respectively may decrease
due to the major renovation in order to maintain the property to be in a good condition or due to
any circumstances which may affect the business and travel industry in the country. Thus, it may
significantly affect the ability of the Fund to gain the income.
3. Increased competition may reduce the number of tenants and customers of the Initial Investment
Property.
If in the future new serviced apartments, hotels and/or shopping centers come to the market or
other competitors renovate serviced apartments, hotels and/or shopping centers which are
located nearby the location of the Initial Investment Property. It may give rise to greater
competition among the serviced apartments, hotels and/or shopping centers and it may affect the
existing and future entrepreneur who is a tenant of the Initial Investment Property. This would
decrease the number of customers of the Initial Investment Property and decrease of income
generated by the Fund under the Lease Agreement for Land, Glow Trinity Silom Building and
furniture, fixtures and equipment and the Lease Agreement for Plaza Building and Glow Trinity
Silom Arcade and furniture, fixtures and equipment, especially the variable rent which is
calculated from the proportion of income from the lease of Glow Trinity Silom Building.
4. Risk associated with the seeking of new tenant
In the case where (a) the lease agreement of the Initial Investment Property is terminated in any
case and Trinity Assets Co., Ltd. is unable to find the tenants during the period of three year
commencing from the initial date of investment by the Fund or throughout the lease period; (b) the
lease agreement is renewed with the same conditions as the conditions specified under the lease
agreement entered into and between the Fund and tenants or (c) the lease agreement is expired,
the Fund may enter into a new lease agreement with the third party in order to replace the
previous tenants. In this regard, the new lease agreement may contain conditions which are less
beneficial than the conditions under the previous lease agreement such as the amount of rent
which the Fund is entitled to receive may be less than in the lease agreement with the previous
tenants.
Information Memorandum of Trinity Property Fund 46