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Thailand Industry – Central Pattana Postpones Branch Opening

By on Sep 05, 2014 in Property News, Retail

Thailand industry giant, Central Pattana (CPN), is postponing the opening of its first store in Malaysia to the second quarter of 2017 as more studies on the business, market, cultural environment, and consumer spending, tastes and preferences are needed, even though it does not look as though competition would be too intensive.

Naparat Sriwanvit, CPN’s chief financial officer and executive vice president for finance, accounting and risk management, said that after eventually opening a branch in Malaysia, the company planned to open stores in Vietnam and Indonesia, where the market environments are quite similar to Thailand’s.

CPN currently operates 25 department stores, seven for-lease offices, two hotels and two for-lease residential sites.  The breakdown of CPN’s lease-space sources of revenue is department stores at 89 per cent, offices 2 per cent, hotels 4 per cent, food services 4 per cent, management fees 2 per cent, and others 6 per cent.

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