Bloomberg News

Central Pattana Says Floods Have No Significant Impact

November 23, 2011

(Adds share price in fourth paragraph.)

Nov. 23 (Bloomberg) -- Central Pattana Pcl, Thailand’s biggest shopping mall developer, said the nation’s floods won’t have a significant impact on sales this year.

Revenue lost because of store closures in Bangkok will be offset by higher sales at outlets in cities including Pattaya and Chiang Mai, Chief Financial Officer Naris Cheyklin said at an investors’ meeting in Bangkok today.

The company plans to invest 55 billion baht ($1.76 billion) over the next five years, including 12.8 billion baht that will be spent this year, mainly to develop new projects. The funds will come from cash flow, loans and a property fund, Naris said.

Central Pattana’s shares gained 2.2 percent to 35.25 baht as of 3:30 p.m. local time, set for the largest increase since Nov. 16.

--Editor: Tony Jordan

To contact the reporter on this story: Suttinee Yuvejwattana in Bangkok at suttinee1@bloomberg.net

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus