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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.
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