Taitam-D Ban Noen KhamThe lakeside farm stay at the gateway to Lalu · TAITAM-D MANAGEMENT (THAILAND) LTD

The figures in this table are the same set used in every chapter of this plan. The cost and financial figures are estimates from reference unit prices and will be confirmed when actual prices are obtained from contractors and actual occupancy data is available.

1. The budget frame for Phases 1 and 2 and the ceiling of total funding the shareholder is prepared to support, so that items can be sized accordingly, such as the size of the swimming pool, the number of new cottages and the timing of the start of Phase 3.
2. Future participation of the UK side as a shareholder, which must stay under the 49 per cent ceiling to preserve Thai-majority company status; to be concluded before the company registration is completed.
3. Agreement with the group's spa in London on shelf space, the first product lot and the person responsible on the UK side.
4. Phase 1 field verification work per Chapter 14 and Chapter 15, in particular the subdistrict of the site, the title deed, the zoning colour and the width of the canal.

Item 1 determines the scale of everything in this plan. Phase 1 work is mainly repair and upgrading of what exists, so it can start as soon as the shareholder approves the budget frame, with the paperwork and field verification running in parallel over the same period.

The company is in the process of registration with the Department of Business Development. The registration details are as follows.

The procedure for registering a limited company through the Department of Business Development consists of reserving the company name, for which 3 names may be reserved, valid for 30 days; registering the memorandum of association; holding the statutory meeting; and filing the company registration through the Department's online system. When the documents are complete, the whole process can be completed within a few working days.

Zone A, about 16 rai, is the business and accommodation zone, consisting of accommodation, an office, a cafe, a shop, a restaurant, a product showroom and a show garden of trees and ornamental plants for sale. Zone B, about 9 rai, is the processing zone, a small factory that opens its production process to guests. Zone C, about 42 rai, is New Theory agriculture, integrated farming and livestock, laid out as a farm you can walk around in one loop. This plan goes into detail on Zone A first, because it is the shopfront that generates revenue for the whole project.

The beauty academy is not yet part of this plan. This chapter gives only an overview; there are no details yet of the curriculum, the partner educational institution or the opening date.

Its future location is in Zone A, in the same place as the product showroom at the Brand House (A3) and the seminar hall (A6). The Zone A concept plan therefore reserves space for the showroom, seminar hall and academy buildings together.

The Thai academy uses the curriculum of 1 Vera D Group, imported into Thailand, and operates jointly with a Thai educational institution to be selected in a later phase.

The Thai side therefore does not create its own curriculum. The work of the Thai side is importing the curriculum, joint accreditation with the Thai educational institution and on-site operation. The curriculum content belongs to 1 Vera D Group.

The company's financial process follows the principle of separating the maker from the checker, as follows.

This structure clearly separates the role of day-to-day management from that of financial approval. The Managing Director and General Manager is responsible for all management, preparation of on-site systems and coordination, while the authority to approve payments and to sign financial documents rests with the Director alone. The staffing structure for each phase and the organisation chart are in Chapter 12.

What remains to be done in this chapter is to enter the company registration number, registered capital, commercial registration and taxpayer identification number in the table in Section 2 once registration is completed.

The lakeside farm stay at the gateway to Lalu, where everyone visiting Sa Kaeo must stop, and from whose land products travel as far as London

Taitam-D Thailand is the place where visitors to Lalu choose to stay, eat, buy and learn, and the home of products from this land that travel to the group's spa in London. This vision has 3 key words that everyone in the project must remember: lakeside, gateway to Lalu and reaching London.

1. Develop the land of about 67 rai at Ban Noen Kham into 3 zones that work as one chain: Zone C produces, Zone B processes, and Zone A sells, feeds, hosts and tells the story.
2. Raise what already exists to a standard that people are willing to travel far to reach, before building anything new.
3. Be the base for Lalu visitors that works with the community, the temple and the e-taek shuttle group, not a competitor of the community.
4. Create jobs in the subdistrict using mainly local labour, and develop staff through the group's beauty academy in a later phase.
5. Produce goods from local produce, especially Sa Kaeo GI Nam Dok Mai mango, for sale at the farm shop, online and through the group's channels in the United Kingdom.

The 3 principles above have an equally clear reverse side, and can be used to reject at once any proposal that does not meet the criteria.

1. No livestock, no fish farming and no demonstration agriculture in Zone A; all of these are in Zone C.
2. No running of its own vehicles into Lalu, and nothing that the community, the temple or the e-taek shuttle group already does.
3. No building of new cottages before the existing ones reach standard and the occupancy rate reaches the criteria.
4. No selling of goods without a story from this land; the products in the showroom and shop must come from Zone B, Zone C or the group.

These targets govern the timing of investment in each phase and are the indicators of when the project will expand to the next phase. Details of each phase and the gate criteria are in Chapter 11.

Lalu is a group of earth pillars formed by rain and wind erosion, located at Ban Noen Kham and Ban Khlong Yang and covering an area of more than 2,000 rai. It resembles Phae Mueang Phi and has been nicknamed the Grand Canyon of the East. It borders the project site directly. There is no admission fee, but private vehicles may not enter the area, in order to protect the soil. Visitors park at the visitor service centre and transfer to local e-taek farm-truck shuttles with a guide, at about 200 to 250 baht per vehicle, seating 6 to 10 people, and there is a night-time stargazing round at about 300 baht per vehicle. The main tourist season is October to May, outside the rainy season, when the soil becomes slippery and hazardous. The best light is early morning and before sunset, and night-time stargazing is an additional selling point, as the surrounding area has no light pollution.

Google Maps data in September 2026 shows the following review counts.

The online information for the project's homestay and cafe has not been updated for about 3 years; the latest menu and reviews found are about 3 years old. The businesses are still open, but the outdated information means neither can be found in a general search. Updating the online information to match the actual condition is therefore the first task of Phase 1. There are no annual visitor statistics for Lalu in public sources, at either subdistrict or district level. The only visitor figure found is for Ta Phraya National Park, which is a separate area from Lalu: 3,398 people in 2019, which is pre-COVID-19 data. For visitor numbers specific to Lalu, the project will ask directly the Lalu e-taek shuttle group, Thap Rat Subdistrict Administrative Organisation or the visitor service centre before using them to calculate the revenue estimate.

The main customer group that already exists, without any need to create new demand, is visitors to Lalu, who come as families and groups of friends from Bangkok and the eastern region, share the cost of the e-taek shuttle as a group, and concentrate on holidays and in the early morning and late afternoon when the light is good. The distance from Bangkok to the project site is about 320 to 325 km. A distance of this order means most trips require at least 1 overnight stay, so the target customers can be divided into 3 groups.

1. Overnight guests: families and groups of friends who visit Lalu and stay 1 to 2 nights, including groups who come specifically for night-time stargazing.
2. Day visitors: those who stop for food, drinks and the shop during or after visiting Lalu, without staying overnight.
3. Groups and organisations: study-visit groups, corporate seminars and, in future, students of the beauty academy, who need a meeting room and group lunches.

Thai traveller trends for 2025 to 2026 found in reports of the Trade Policy and Strategy Office and the Agoda 2026 Travel Outlook report indicate that Thai travellers prefer short trips, favour relaxing at the accommodation over sightseeing, take a particular interest in swimming pools and bathtubs, and that the 2 most important filters they use when searching for accommodation are a review score of 8 or higher and breakfast included in the price. This means that room quality, water cleanliness and the accumulation of reviews carry more weight in customers' decisions than the number of rooms available. The project therefore prices accommodation with breakfast included, builds the swimming pool in Phase 2 and starts accumulating reviews from Phase 1.

Within a 25 km radius of Lalu there is little accommodation, mostly homestays and small resorts priced below 1,000 baht per night, and hardly any with enough reviews to allow comparison. The accommodation and main comparison cases found are as follows.

La Villa Boutique Hotel in Aranyaprathet District, whose selling point is its hot and cold spring pools, is the highest-priced accommodation found in the whole of Sa Kaeo Province. Its price of 1,220 to 2,760 baht per room per night is therefore the price ceiling that the market of the whole province has already proven can actually be sold. Ordinary basic accommodation is in the range of 400 to 900 baht per night. Not a single mid-to-upper-range property or pool villa was found in Ta Phraya District. For cafes and restaurants, Ta Phraya has only franchise coffee shops and inexpensive local restaurants serving residents and passing travellers. There is not yet a single cafe or restaurant in the district that uses views, gardens or spatial design as its main attraction.

From the competitor data above, 3 market gaps are found that no player has yet claimed.

1. Accommodation at the 1,220 to 2,760 baht per night level does not exist at all in Ta Phraya District or the surrounding area; all existing accommodation is below this ceiling.
2. A cafe that is a destination in its own right, not merely a coffee shop attached to accommodation, does not yet exist anywhere in Ta Phraya District.
3. A gift shop that brings together the best products of Ta Phraya in one place has not yet appeared in search results.

At the same time, the online review base of almost every competitor within a 25 km radius is still very thin; many have only 1 to 3 reviews. Whoever starts accumulating quality reviews first will be the first name travellers find on accommodation search and booking websites. Conversely, not a single successful farm cafe or agritourism business was found anywhere in Sa Kaeo Province. All the successful cases are concentrated in Wang Nam Khiao, Pak Chong, Khao Yai, Nakhon Nayok and Prachinburi, which can be reached from Bangkok in much less time than Ta Phraya. The market gap therefore comes with the risk that there is not yet a proven formula for a location this far away. The project must create a special reason for people to travel far, not copy the format of areas near Bangkok directly. That reason is Lalu, which borders the site, the water landscape and the stargazing, which the areas near Bangkok do not have.

Village No. 15, Ban Noen Kham, the village adjoining the project site, has a population of 759 (381 male, 378 female) according to the Ta Phraya Subdistrict Administrative Organisation, in 228 households; the data does not state the year of collection. The local economy depends mainly on agriculture. The main crops are rice, cassava, sugar cane and feed maize. The minimum wage in Sa Kaeo Province in 2026 is 352 baht per day, in effect since 1 July 2025, with no increase yet in 2026. For service positions requiring specific skills, such as barista, chef and receptionist, the project will recruit from Sa Kaeo Technical College, which has a hotel and hospitality programme, and Burapha University, Sa Kaeo Campus, located in Watthana Nakhon District. The actual wages for these positions in the area will be surveyed by the project before the salary structure in Chapter 12 is prepared.

The community is Thai of Khmer descent mixed with Isan, as reflected in the Sen Don Ta ancestor festival, the ancestor-worship ceremony of Thais of Cambodian descent, and the Buddhist Lent candle procession held in the district. Both are content that can be used in the project's activities and products. Local institutions relevant to the project are the Ta Phraya Subdistrict Administrative Organisation, which is responsible for Village No. 15, Ban Noen Kham; the subdistrict health promotion hospital; the child development centre; and Wat Noen Kham-Khao Wong, which adjoins the project site.

Cambodian labour can be used only for back-of-house work that does not involve direct contact with guests, such as gardening, farm work and back kitchen work. There are 2 systems of employment: import under the government-to-government memorandum of understanding (MOU), which gives more secure working status but higher cost and longer processing time, and the Section 64 border pass system, which is faster and cheaper but tied to the border situation. The Thai-Cambodian border situation in 2025 to 2026 is still unsettled, with border crossing closures and military operations near the project area in late 2025. The project will use the MOU system as its main route if it employs Cambodian labour on a continuing basis, and has a staffing contingency plan in case the border crossing is closed suddenly during the tourist season.

The subdistrict in which the site lies still has two conflicting sources. The coordinates on Google Maps place the project site in Thap Rat Subdistrict, while the website of the Ta Phraya Subdistrict Administrative Organisation states that Village No. 15, Ban Noen Kham, is within Ta Phraya Subdistrict. The project will confirm this from the house registration and the title deed before filing any permit, because it determines which Subdistrict Administrative Organisation every document must be filed with, and will meet both the Ta Phraya and Thap Rat Subdistrict Administrative Organisations together with the Lalu e-taek shuttle group before actual construction begins.

The facts in this chapter lead to the concept of "the lakeside farm stay at the gateway to Lalu" in 3 points: the customers already exist and must stay overnight because of the distance; the price ceiling actually achieved in the province is 1,220 to 2,760 baht per night, which supports the target price of 1,500 to 2,500 baht; and the gaps for destination-level accommodation, cafe and gift shop in Ta Phraya District are all still open. The figures to be verified before use in the revenue calculation are the number of Lalu visitors per year and the subdistrict in which the site lies.

The whole site is about 67 rai (about 107,200 m²; 1 rai = 1,600 m²) according to the title deeds, divided into 3 zones as set out in the table in Section 2. Area figures are rounded to whole rai. The project will carry out a boundary survey with the Land Office before laying out the actual construction plan (Chapter 14) and adjust the figures once the survey results are available.

At present the uses across the whole site are still mixed between zones, contrary to the principle that Zone A keeps only commercial and hospitality activities, with no farming or livestock. The items to be moved are as follows.

The first task in Zone A is to complete the moves and tidying set out in this table before new construction begins under the concept plan in Chapter 6.

The items to be confirmed on site before planning the next stage are as follows.

• The type of title deed for each plot and the number of deeds, because this determines whether commercial use is permitted
• The actual boundary survey results, to confirm the boundary lines before laying out the construction plan
• The position of the public road and public canal on the actual plan, and the width of the canal, to set the setback for new buildings
• The zoning colour of this plot under the Sa Kaeo Province comprehensive town plan, which determines the type and size of buildings that may be built
• The boundary line on the side adjoining Wat Noen Kham-Khao Wong

"The lakeside farm stay at the gateway to Lalu": a holiday village around 3 ponds that is both the accommodation base for people visiting Lalu and a stop to eat, shop and walk the gardens for day-trippers, using what already exists as the backbone rather than demolishing and rebuilding.

These routes are used to check that the 5-precinct layout actually works for each visitor group.

The paperwork that runs in parallel to keep pace with each phase: Phase 1, commercial registration, food premises notification and Mor Ror 1 notification for accommodation of up to 8 rooms; Phase 2, building permit application for new buildings at the SAO and Thai FDA notification for imported cosmetics; Phase 3, Category 1 hotel licence. Details are in Chapter 14.

• 3 materials across the whole project: timber and bamboo, stone and gravel in local earth tones, dark roofing. No bare corrugated iron and no multicoloured tiles.
• Lighting: low warm-toned lights along paths, buildings lit from below; no tall white lights around Pond 3, to keep the darkness needed for stargazing.
• Water: every pond must have a circulation and aeration system. Clear water is the main product of a lakeside project.
• Signage: replace the numbers A1 to A24 with Thai and English place names that carry a story, such as the Twin Pavilion, Naga Lake, Stargazing Lawn, Walking Garden.
• Trees: keep every large tree, and plant more drought-tolerant trees from Phase 1, because they take 3 to 5 years to grow.
• Every photo spot must have an angle that shows water, trees and timber craftsmanship together.

Livestock of every kind, sheds for machinery and construction materials, processing work and production planting all go to Zone B and C, as do fish rearing and demonstration farming of every kind. Zone A keeps only the show garden of trees and ornamental plants for sale.

• The concept "the lakeside farm stay at the gateway to Lalu", accommodation at 1,500 to 2,500 baht per night including breakfast, 4 sources of revenue
• Main gate at A3, car park at A24, Brand House in building A3 and seminar hall in building A6
• Swimming pool of 8 x 18 m in the central court at A20, built in Phase 2
• The current 3 cottages become 8 in Phase 2 and 16 in Phase 3
• A20, A21 and A22 become entirely a cottage zone; no livestock, no fish rearing and no demonstration farming in Zone A

The pigsty and livestock of every kind (to Zone C); fish cages and fish rearing in every pond; demonstration farming and production planting (to Zone C); the shed for tools and construction materials (to Zone B); every temporary lean-to and bamboo fence; cables and pipes lying on the ground.

24 points in total. Phase 1 work is mainly repair, tidying and moving things out. New construction requiring high investment is concentrated in Phases 2 and 3.

• Move the flower beds to Zone C in the order of work set out in Chapter 9 and Chapter 11
• Survey 4 matters before design: whether three-phase power reaches the plot, the prevailing wind direction, the maximum flood level, and whether the access road to the plot can take lorries
• Prepare a detailed layout and confirm the area of each section after the plot survey, then apply for the building permit and for Thai FDA food-production approval for the first-phase production line

1. Water before crops: dig the large pond, lay the pumping system and main pipes, then plant the fruit trees and perennial trees immediately, because they take 3 to 5 years to bear fruit. This work starts together with Phase 1 of Zone A
2. Build the pens and the manure management system to completion first, then move the pigs over from Zone A within Phase 1
3. Move the flower beds from Zone B to the starting section of the visitor walkway
4. Have the visitor walkway and learning station ready in Phase 2, when the seminar hall A6 opens to study-visit groups

The timing of these works against the Zone A phases is in Chapter 11, Section 4. What must be done before real design is a survey and inventory of the plants, animals, water sources and existing bund lines across the whole parcel, and then confirmation of the area of each part in the detailed plan.

The farm shop in Zone A uses a 3-tier price structure, the same as Thailand's leading tourist farm shops.

The ornamental garden in Zone A is divided into two parts that work together. The first is drought-tolerant perennial trees as a permanent backdrop, such as tabebuia, rain tree, neem, queen's crape myrtle and golden shower, planted as a show garden at nursery-source standard. The second is fast-turnover potted plants for retail, sold in parallel through the shop front, TikTok Shop and Facebook Live, with a mature-tree supply service for nearby temples, schools and resorts.

Workshops in Zone A are priced at 3 levels, following the pattern common in Thai agricultural and craft activities: introductory activities under 200 baht to draw people in first; mid-level activities at 300 to 800 baht with materials to take home (e.g. making herbal soap, making a terrarium); and premium packages bundled with a meal or a special experience priced from 1,000 baht per person upwards.

The flagship product with the clearest local story is the Sa Kaeo GI Nam Dok Mai mango, because the area covered by this geographical indication includes Ta Phraya District, where the project itself is located, so it is a product that can claim a local story immediately without inventing a new one. The orchard in Zone C grows mainly Nam Dok Mai mango, supplied directly to Zone B for processing into dried mango, mango juice or mango ice cream, with the first stage of the Zone B production line starting from drying and packing with a solar dryer, which is low-investment and can obtain Thai FDA approval quickly.

The secondary seasonal product is Aranyaprathet cantaloupe, a verifiable signature product of the province, with an annual festival, the "Cantaloupe and Good Things of Aranyaprathet Day", held continuously for the 37th time in 2026; it can likewise be used as a seasonal selling point in the manner of a local festival. Mango and cantaloupe are therefore the core of both the cafe menu in Zone A and the first production line of Zone B.

The export line uses Taitam-D Management LTD in London as importer and end point of sale. The goods shipped are spa and beauty products from Zone B, silk and local handicrafts, and in a later stage dried fruit and dried herbs. The obstacle on this line is not tariffs but product safety rules.

On import duty, cosmetics (heading 3304) and soap (heading 3401) already have a standard rate of 0 per cent for all countries; silk (heading 5007) is reduced from 6 per cent to 0 per cent, and herbal tea or food preparations (heading 2106) from 12 per cent to 0 per cent, under the Developing Countries Trading Scheme (DCTS), in which Thailand is in the Enhanced Preferences group, so customs duty is not the main obstacle.

The real obstacle is product safety rules. Every cosmetic must have a Responsible Person with a real address in the United Kingdom, a role that the existing Taitam-D Management LTD in England can perform; products must be notified in the OPSS Submit Cosmetic Product Notifications (SCPN) system before sale, and there must be a Cosmetic Product Safety Report (CPSR) for every product. Food and dried plants must pass inspection under the Border Target Operating Model (BTOM); high- and medium-risk goods need a phytosanitary certificate and pre-notification for every consignment. Any product that makes medical claims must obtain a Traditional Herbal Registration (THR) from the MHRA, which requires evidence of continuous traditional use for at least 30 years, takes a long time and is costly; the project therefore makes no claims of treating illness on labels or the website in the first stage.

The Thai side must prepare in parallel: register as an exporter with the Customs Department through the Paperless system; obtain a Certificate of Free Sale from the Thai FDA for products already legally on sale in Thailand; obtain phytosanitary certificates from the Department of Agriculture for plants and plant products; and use the support available from DITP, namely Thaitrade.com, the T-Mark and the Thai Trade Centre with a branch in London.

On demand, the Thai community in the United Kingdom numbers about 55,000; the number of Thai restaurants is reported at anywhere from about 1,275 to 3,422. The restaurant figures are estimates from informal sources that contradict one another. The UK natural skincare market is worth about USD 4.88 billion in 2025, growing steadily at around 3 per cent a year, a moderate demand signal. The real market size will be confirmed once import data by category is obtained from HMRC.

The line that starts first is the group with light regulation that already matches the group's spa customers, namely soap, balm, massage oil and herbal compress balls that make no medicinal claims, together with silk and handicrafts, which are general goods needing no special permit and enjoying the full DCTS tariff benefit. Food, dried fruit and dried herbs are deferred until there is a steady enough export volume to justify the per-consignment certificates.

The project's products have 4 sales channels. The shares below are rough estimates of sales of processed and farm products once the Zone B production line is running at full capacity in Phase 3; they are used to plan production capacity and stock and will be adjusted against actual sales every quarter.

The London channel starts by placing products in the group's spa and selling directly to the spa's customers. The first consignment is small enough to complete the product safety documents for every item first, and the range and volume are then expanded in line with actual sales.

Because the London spa and the export products share the Taitam-D brand name, product safety directly affects the reputation of the whole group. The project will complete the product safety documents (SCPN and CPSR) before every consignment actually ships, and before expanding the number of items.

In the reverse direction, beauty products from the United Kingdom to be placed on sale in the Zone A showroom must be notified to the Thai Food and Drug Administration (Thai FDA) before every item goes on sale. The short-term option is for the showroom to start by displaying products for marketing and taking advance orders, then delivering the products once the notification process is complete. The project will check the scope of the term "display" with a legal adviser on Thai FDA matters before opening the showroom.

1. Confirm the Responsible Person role of Taitam-D Management LTD and begin preparing the CPSR and SCPN notification for the first set of spa products before the first export consignment
2. Register as an exporter with the Customs Department and obtain the Certificate of Free Sale from the Thai FDA once the Zone B products are legally on sale in Thailand
3. Agree with the group's shop in London on shelf space, the product list for the first consignment and the person in charge on the UK side, in time for the full opening of the export corner in Phase 3
4. Begin the Thai FDA notification for imported cosmetics from Phase 1, following the order of work in Chapter 11 and Chapter 14

This phase uses low to medium investment, focused on repairing and tidying what already exists so that it can be sold immediately, not demolishing and rebuilding everything.

This phase uses medium to high investment. The goal is to open all 8 cottages within the limit of 8 rooms and 30 guests, together with a shop stocking real products from Zone B.

Zone C starts before Zone B and starts alongside Zone A in many tasks, because water and fruit trees take 3 to 5 years to bear fruit. The project will start digging the pond and planting fruit trees at the same time as the "fix what exists" work in Zone A, without waiting for Zone A to finish. Zone B sequences its production lines by regulatory difficulty and size of investment (Chapter 8), tied to the moments when Zone A needs real products.

The Zone B and C plans are concept plans, so the periods in this table are an order of precedence; they will be confirmed as a timetable once the detailed plans of both zones are done.

The project will not skip a phase. Each phase must pass the indicators set before moving on to the next block of investment. The criteria below use figures already stated in the Zone A concept plan (Chapter 6); headcount and revenue targets are not used as gate criteria.

Criteria from Phase 1 to Phase 2

1. Google review scores of the homestay and the cafe do not fall below the existing baseline (homestay 5.0 from 10 reviews, cafe 4.6 from 8 reviews), and the number of reviews keeps growing
2. The water in Pond 1 and Pond 3 is clear enough to read as landscape, with no fish cages remaining
3. The commercial registration, food premises notification and Mor Ror 1 notification are all filed
4. All pigs are out of Zone A, and the pens and manure management system in Zone C are actually in use
5. The large pond in Zone C is dug and planting of fruit and perennial trees has begun, because fruit trees take 3 to 5 years to bear fruit for Zone B

Criteria from Phase 2 to Phase 3

1. Average occupancy of the 8 cottages exceeds 50 per cent, as already stated in the Zone A concept plan as the condition before building the second set of cottages
2. The farm shop and the cafe have positive operating cash flow, or losses no greater than planned; not a fixed revenue target
3. The Zone B drying and packing line is actually running and GI mango products are on sale continuously, not a one-off batch to open the shop
4. The building permit for new buildings from the SAO and the Thai FDA notification for imported cosmetics are in hand before the export corner opens in full

The ratios used to calculate the table: 0.8 to 1.2 staff per guest room; 1 housekeeper per 4 to 5 rooms; 1 kitchen and waiting staff per 10 to 12 seats; 1 gardener per 1.5 to 2 rai of landscape; adjusted to the Zone A plan with 8 cottages in Phase 2 and 16 in Phase 3, and no livestock or fish farming in Zone A. Checked against the ratios, Phase 2 has 8 cottages and 5 staff tied directly to accommodation (reception, housekeeping, head), or 0.6 per cottage, below the 0.8 to 1.2 ratio, because the cafe, shop and gardens have their own staff who can help with the accommodation. Phase 3 has 16 cottages and 9 staff, or 0.56 per cottage; this will be reviewed once actual occupancy is seen.

• Labour and operational positions (housekeeping, gardens, waiting, security) are hired from Village No. 15 Ban Noen Kham and nearby subdistricts; the Sa Kaeo minimum wage is 352 baht per day (Chapter 4)
• Skilled positions (head chef, baristas, reception, marketing) are sourced from Sa Kaeo Technical College, Burapha University Sa Kaeo Campus and the town of Aranyaprathet, with recruitment planned 3 to 6 months ahead
• Phase 1 starts by training the cafe and garden teams first, because these are the shop fronts that can open immediately without waiting for the accommodation

Used only for back-of-house work (gardens, back kitchen, construction) and through the MOU system rather than border passes, because the situation on the Thai-Cambodian border in 2025 to 2026 is still unsettled and the checkpoints may close without warning (Chapter 4). The cost per person under the MOU system is about 9,890 to 10,890 baht plus an agent fee of 2,000 to 4,000 baht, and takes 45 to 90 days.

Salary ranges used in the calculation: labour 9,000 to 11,000; operational 10,000 to 14,000; supervisors 15,000 to 22,000; professional 18,000 to 30,000; managers 30,000 to 50,000 baht per month. These will be confirmed against market rates in Sa Kaeo when actual recruitment begins.

The midpoint of this table is the salary figure used in the estimate in Chapter 16, which finds that total planned salaries come to around 40 per cent of Year 5 revenue in the base case, above the benchmark for small accommodation and restaurant businesses (25 to 35 per cent). The headcount table in this chapter is therefore a ceiling for setting the structure. Actual hiring follows the occupancy rate: start Phase 2 with 14 to 16 permanent staff and use daily-rate staff on holidays, then add staff once occupancy passes 45 per cent, keeping total salaries within 30 per cent of revenue from Year 3 onwards.

This estimate is a price range (low to high) for Zone A according to the concept plan and the change register. Most of the price basis is list prices published by suppliers in Bangkok. Items with no reference price use an estimate instead. Every row carries a confidence level. The price basis column states where the figure comes from; where it says "estimate", no reference price exists yet. All figures serve to frame the budget and set priorities. Before any investment decision, the project will obtain real quotations from at least 2 contractors in Sa Kaeo for each item and update the figures in this chapter every time a real price is received.

Factors that make real prices differ from the table: labour in Sa Kaeo (minimum wage 352 baht per day) is cheaper than Bangkok, but transport of materials and specialist equipment (swimming pool, cameras, fit-out) costs more. The construction materials price index for February 2026 rose 0.3 per cent year on year, so material inflation of 1 to 3 per cent per year is allowed for.

The range is wide because many items have a low-confidence price basis. The figure used to set the budget frame is the midpoint of the range. The 3 items that take the largest share of the budget are the swimming pool, the 5 new cottages and the Brand House, which together make up about half of Phase 2. If the budget must be cut, the project will reduce the pool to 6 x 14 m (saving about one third) and move the 2 family cottages into Phase 3 before cutting any other item.

• All of Phase 3: the lakeside restaurant, a further 8 cottages at A21 and A22, the full showroom of cosmetics from the United Kingdom, and the beauty academy space
• All of Zone B and Zone C (layout not yet defined)
• The cost of the A3 and A24 glass buildings that the project management is currently constructing (treated as already paid)
• Hotel licence fees, Thai FDA notification fees and legal advisory fees
• Working capital, staff salaries and pre-opening marketing budget (revenue and operating expense estimates are in Chapter 16)
• The purchase or upgrade of any machinery

1. The 8 x 18 m swimming pool, from at least 2 pool contractors, including transport to Sa Kaeo
2. one prototype cottage, from a local carpenter and from a knock-down house company, to compare the two approaches
3. The 200 m² cafe pavilion as an all-in package
4. Pond bank edging per metre, from a landscape contractor in Sa Kaeo or Prachin Buri
5. The three-phase power extension charge from the Provincial Electricity Authority, Ta Phraya District (an actual application must be filed)

Phase 1 runs from month 1 to 6 and is the "fix what exists" period. The paperwork in this phase is as follows.

• Commercial registration for every type of trading activity in Zone A, filed at the Ta Phraya Subdistrict Administrative Organisation within 30 days of the start of business
• Food premises notification for the cafe and restaurant with a floor area not exceeding 200 m² per building, under the Public Health Act B.E. 2535 (1992). The project will calculate the actual area once building drawings exist and check the interpretation of the area with the Ta Phraya Subdistrict Administrative Organisation
• Food handler training for everyone involved with the cafe, restaurant and kitchen, under the Ministerial Regulation on Sanitation of Food Premises B.E. 2561 (2018), through the Department of Health online system, taking about 3 to 4 hours per person
• Mor Ror 1 notification for accommodation of up to 8 rooms and up to 30 guests at a time, to keep non-hotel status, filed at the Ta Phraya District Office; no fee; officials inspect the premises before issuing the Mor Ror 2 acknowledgement, which is valid for 5 years
• Confirmation of which subdistrict and which Subdistrict Administrative Organisation the land parcels fall under, because this affects every permit and local taxes
• Requesting copies of the title deed or title document for every parcel, to confirm the type of title and the area of each zone
• Requesting a boundary survey from the Ta Phraya District Land Office before starting any actual layout design or driving any piles
• Requesting a certified copy of the map annexed to the current Ministerial Regulation on the Sa Kaeo Provincial Comprehensive Town Plan from the Sa Kaeo Provincial Office of Public Works and Town and Country Planning, to confirm the zoning colour of the land parcels and the land-use conditions

Phase 2 runs from month 6 to 18 and is the period of opening the accommodation base of 8 cottages. The paperwork in this phase is as follows.

• Filing for building permits for new buildings at the Engineering or Public Works Division of the Ta Phraya Subdistrict Administrative Organisation, under the Building Control Act B.E. 2522 (1979), with drawings certified and signed as the law requires
• Checking the building setback from the public canal under Ministerial Regulation No. 55 (B.E. 2543 (2000)), which requires not less than 3 m for a canal less than 10 m wide and not less than 6 m for a canal 10 m wide or more. The project will measure the actual width of the canal before fixing the position of any permanent building
• Notifying the Thai Food and Drug Administration of the cosmetics imported from the United Kingdom, for the products to be displayed and sold in the showroom
• Applying for a Type 2 liquor sales licence from the Sa Kaeo Area Excise Office if alcoholic drinks are to be sold in the cafe or restaurant; the licence is valid for 1 year and must be renewed annually
• Monitoring the company's total revenue against the threshold of 1.8 million baht per year, in order to register for VAT on form Por Por 01 within 30 days of the date revenue exceeds the threshold; according to the projection in Chapter 16, base case revenue reaches this threshold in Year 1 to 2

Phase 3 runs from Year 2 to 3 and is the "expand" period. The paperwork in this phase is as follows.

• When the accommodation expands to 16 cottages, exceeding the threshold of 8 rooms and 30 guests, the project will apply for a Category 1 hotel licence, meaning rooms only, without food service, and not more than 50 rooms, under the Hotel Act B.E. 2547 (2004), filed with the Sa Kaeo Provincial Hotel Registrar
• Compliance with building standards under building control law, fire safety standards and the wastewater treatment system, which are conditions before applying for the hotel licence
• Applying for the Thai Homestay Standard from the Department of Tourism and the SHA mark from the Tourism Authority of Thailand; both are voluntary schemes with no legal force, used to add credibility once the accommodation is properly registered

The person responsible for every item of paperwork is the Managing Director, using a legal adviser for the hotel licence and the cosmetics notification.

Ta Phraya District is not in the Sa Kaeo Special Economic Zone, which covers only Aranyaprathet and Watthana Nakhon Districts. The tax and non-tax incentives of the Special Economic Zone therefore do not apply to Zone A, and the financial plan does not count these incentives.

This register covers risks relating to land and town planning, utilities and climate, community and the border, brand, and the accuracy of cost figures. The project will review this register every time new field verification results come in.

The following figures come from a single source or have no confirming source yet. The projection in Chapter 16 may use them as assumptions, with a confidence level stated for every item, to frame the funding and set the order of investment within the company.

• The distance from Bangkok to the project site, used as a reference for accessibility potential
• Lalu visitor statistics per year and per season, for which there are no official figures yet; the day visitor estimate in Chapter 16 is therefore a pure assumption
• Room rates of competitors within a similar radius, not yet directly surveyed in the field
• The revenue of the prototype farm cafe used as a comparative case study

Documents for external use, such as loan application documents or documents to attract co-investors, may be used once these figures are replaced with confirmed data, especially the Lalu visitor statistics and the actual visitor numbers from Phase 1, which are the assumptions with the greatest weight on revenue.

• Year 1 corresponds to Phase 1 (3 cottages), Year 2 to Phase 2 (8 cottages), and Years 3 to 5 to Phase 3 (16 cottages). In practice each phase starts when the previous phase has passed the criteria in Chapter 11, so it may run later than this, which is good for cash flow, not bad.
• 2 cases are shown. The base case is what the project intends to achieve. The conservative case is if the market responds about a quarter to a half more slowly than expected.
• "EBITDA (earnings before interest, tax, depreciation and amortisation)" is the cash the business generates from operations in that year, before deducting investment. "Cumulative cash after investment" is the running total since the start of Phase 1 investment. A negative figure means the cumulative money the shareholder must put in.
• Interest, income tax, depreciation, working capital, land value, and the cost of the A3 and A24 glass buildings already under construction are excluded.
• All figures are in million baht unless stated.

1. Revenue grows with the number of cottages, from 1.8 million baht in the first year to about 20 million baht in Year 5 in the base case, with accommodation and guest food making up about half, the shop, showroom, plants and Zone B products about another third, and the rest from the cafe, workshops and the seminar hall. Non-accommodation revenue carries a large weight because Zone A sits at the gateway to Lalu and has day visitors all year round.
2. The business sustains itself in Year 4 of the base case (EBITDA positive at 0.69 million baht) and reaches 2.65 million baht in Year 5. In the conservative case it does not reach that point within 5 years.
3. Payback lies outside the 5-year frame in both cases. Cumulative cash at the end of Year 5 is still negative by about 51 million baht in the base case, equal to the 48 million baht investment plus the operating losses of the first 3 years, less the profits of Years 4 and 5. Payback therefore falls after Year 5 and depends on profits in the years that follow, which is normal for an accommodation business that builds permanent assets on its own land. The shareholder must therefore view this investment as building a long-term asset, not as a business that returns cash quickly.
4. Peak cash requirement is about 54 million baht in the base case (end of Year 3) and about 69 million baht in the conservative case (end of Year 5). This figure is the funding ceiling for which a source must be secured before deciding to proceed through all 3 phases. If the project stops at Phase 2, total investment is 33 million baht and the cash requirement is about 38 million baht including the losses of the first 2 years.
5. Staff cost is the largest variable. Salaries and benefits under the staffing plan in Chapter 12 are about 8 million baht per year once Phase 3 is complete, equal to 40 per cent of Year 5 revenue in the base case and 75 per cent in the conservative case, above the benchmark for small accommodation and restaurant businesses, which usually lies between 25 and 35 per cent. Cutting total salaries by 20 per cent raises Year 5 profit by 1.6 million baht, more than the effect of room rate or visitor numbers.
6. Break-even occupancy falls every year. Break-even occupancy is the rate at which the business makes no loss in that year. In the base case it falls from 128 per cent in Year 1 (higher than is possible) and 84 per cent in Year 2 to 51 per cent in Year 3 and 33 per cent in Year 5. This means that once all 16 cottages are in place and other revenue runs to plan, the business can tolerate fairly low occupancy, but during Phases 1 and 2 the business is structurally loss-making because it hires staff ahead of a scale that has not yet arrived.

The results above lead to 5 operating principles the project holds to in managing its finances.

1. Hire to actual occupancy, not to phase. The staffing plan in Chapter 12 is a ceiling, not a target. Opening Phase 2 with 24 permanent staff while occupancy is still at 35 per cent is the main cause of the Year 2 loss. Start Phase 2 with 14 to 16 permanent staff and use daily-rate staff on holidays, then add permanent staff once occupancy passes 45 per cent. The target is to keep total salaries within 30 per cent of revenue from Year 3 onwards.
2. Proceed to Phase 3 only when the criteria are passed. The criteria in Chapter 11 (occupancy of the 8 cottages above 50 per cent; cafe and shop cash positive) are stricter than the model assumes. If the market responds as in the conservative case, Phase 3 is automatically deferred, and the cash requirement will be about 38 million baht instead of 69 million baht.
3. Hold investment to the low end of the range. Chapter 13 already notes that the swimming pool, the new cottages and the Brand House take half of the Phase 2 budget. Obtaining real prices from contractors in Sa Kaeo can bring the investment of the first 2 phases down from the 33 million baht midpoint to as low as 20 million baht at the low end of the range, and reducing the pool to 6 x 14 m saves a further 1 to 2 million baht or so without affecting revenue.
4. Push the share of direct bookings. The model assumes 60 per cent of bookings come through online booking channels (OTAs) that charge 18 per cent commission. If this is cut to 30 per cent through direct bookings via LINE, the group's website and study-visit customers, Year 5 profit rises by 0.4 million baht.
5. Let non-accommodation revenue grow first. The cafe, shop, plants and workshops can open from Phase 1 with low investment, and this revenue depends more on Lalu visitors than on the number of rooms. If achieved as in the base case, this group of revenue including the seminar hall is 1.3 million baht in the first year and 8.5 million baht in Year 5, not counting a further 2 million baht of processed products from Zone B.

Investment in the year counts the whole of Phase 1 (12.15 million baht) before Year 1 begins; Phase 2 is paid half in Year 1 and the rest in Year 2; Phase 3 is paid 60 per cent in Year 2 and the rest in Year 3. Break-even occupancy is the rate at which EBITDA is zero when other revenue and the fixed costs of that year run to plan.

The conservative case shows that if the market responds slowly and the business still hires the full staffing plan, it will not sustain itself within 5 years. This case is therefore the reason for operating principles 1 and 2 in Section 4: hire to actual occupancy, and do not proceed to Phase 3 until the criteria are passed.

The tables in this section show where each revenue line in the base case comes from, so that the shareholder can check each assumption one by one and see how first-year revenue climbs from the month Phase 1 opens. Revenue not yet counted in the model is fresh produce from Zone C sold direct (vegetables, fruit, rice, eggs) and Zone B revenue sold to outside customers without passing through Zone A, which will be added once the layouts of those two zones are clear.

The order of importance of the variables is therefore total salaries, occupancy rate, room rate, visitor numbers and booking channels, in that order. The first two are more in the project's hands than the market's, so they are what management must report to the shareholder every month.

• Interest and capital structure: the model assumes the shareholder funds everything. Borrowing 20 million baht at 6 per cent interest per year would cost about 1.2 million baht per year in interest, nearly half of Year 5 profit, so the point of self-sufficiency would slip by about 1 year
• Corporate income tax and depreciation, to be calculated once the asset structure and accounting year are clear
• Working capital of about 2 to 3 months of operating expenses (about 1.5 to 2.5 million baht once Phase 3 is complete)
• The revenue and investment of Zone B and Zone C themselves; this chapter counts only processed products sold through Zone A
• The beauty academy, which is not yet in this plan
• Management will revise the model and the figures in this chapter every time real prices are received from contractors (Chapter 13 Section 6) or actual visitor statistics come in from Phase 1, and report the results to the shareholder together with the monthly figures under Section 9