Central shifts focus back home

But first Asean mall on track to open in 2015

Published: 17 Dec 2012 at 00.00
Newspaper section: Business

Central Pattana Plc (CPN), a SET-listed retail and property developer, has revised its strategy for overseas expansion but confirmed the first Central shopping complex in Asean will still be opened by 2015 as scheduled.

CPN has plans to expand to China but the deal to rent space from an investor there to develop a shopping centre in China is less likely to be finalised, said Naris Cheyklin, senior executive vice-president and chief financial officer.

Besides, many property firms in the world's second largest economy have developed retail projects, intensifying competition.

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Asian Hand
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Discussion 2 : 17 Dec 2012 at 09.292
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Wise move Central. Must have been painful to admit you don't have clout outside Thailand. And you would have had to pay rent - now that would be a switch.
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boons
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Discussion 1 : 17 Dec 2012 at 02.351
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> "Their purchasing power has increased on the back of higher farm prices and the growing middle class."

The economic illiteracy at work here is staggering. Does anyone believe that the Thai people are actually going to be wealthier due to a government decree to pay people more? Is that how economics works in fantasy-land? Why not pay them 5 times as much, and make the Thai people even richer, and the economy even more robust? What we have here is a bubble. Plain and simple. Costs are being pushed into the future. Manufacturers will leave. Unsustainable policies have unsustainable results.
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Central shifts focus back home | Bangkok Post: business