of 2017, the average occupancy rate for CPN’s retail properties stood at 92%, slightly lower from the previous quarter due to major renovations at both CentralWorld and CentralPlaza Rama 3. CPN
net profit margin 2) higher depreciation resulted from additional investments in plant, machinery, and office renovations to improve production efficiency and reduce production cost, in order to prepare
has been significantly completed as of 4Q18 • Major renovations comprises 1.) CentralWorld, which has been ongoing in phases since 4Q16, has been significantly re-developed as of 4Q18. At the end of
commenced in 2018 and to be completed in 2019 comprises major renovations at 1.) CentralPlaza Chiangrai and Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 3 of 15 CPN
additional investments in plant, machinery, and office renovations to improve production efficiency and reduce production cost, for the Company’s sustainable growth in the future. However, some investments
level to previous quarter but dropped from 92% YoY. • Major renovations at 2 shopping malls namely 1.) CentralPlaza Chiangrai and 2.) CentralPlaza Chonburi. Consistently posting strong performances, the
CentralWorld stood at 86%, a slight increase from 3Q17 at 83%. • Major renovations at 2 shopping malls namely 1.) CentralPlaza Chiangrai and 2.) CentralPlaza Chonburi. Consistently posting strong performances
pressuring net profit margin 2) higher depreciation resulted from additional investments in plant, machinery, and office renovations to improve production efficiency and reduce production cost, in order to
%. • Consolidated CAPEX plan has been revised to THB 925 million (from THB 625 million) due to additional CAPEX for a new hotel under the ASAI brand. - THB 355 million for hotel renovations in Maldives, Pattaya and