escalations and lower discounts given to tenants at most shopping malls and strong post-renovation growth at certain shopping malls, such as CentralPlaza Chaengwattana, CentralPlaza Chiangmai Airport and
impressive rental growth of CentralMarina after renovation. Excluding new and renovated projects, same store rental revenues for 2Q17 increased approximately by 3.4% YoY. Effective costs management resulted in
to THB 323 mn, slightly exceeded the growth in revenues from food and beverage. The rise in costs stemmed primarily from renovation activities of food court areas into Food Destination zones in 2017
% from last year to 262.0 million baht due mainly to 5.5% growth of Chemicals Business. Income from property rental plunged 19.4% from 33.1 million baht to 26.7 million baht due to vacancy of Bangna
CPN’s operating results despite the impact on its revenue from rent and services from the major renovation at CentralWorld, the transfer of CentralFestival Pattaya Beach to CPN Retail Growth Leasehold
driven by the continued growth in construction industry and further renovation/expansion of retail stores and new Shopping complexes despite revenue recognition delays from some turnkey projects to next
growth resiliency of CPN’s operating results despite the ongoing major renovation at CentralWorld and the transfer of CentralFestival Pattaya Beach to CPN Retail Growth Leasehold REIT (“CPNREIT”) in
renovation of three hotels under Dusit Thani brand, and caused by a temporarily weaker demand from catering and convention during the mourning period and the royal funeral of King Bhumibol Adulyadej. Earnings
and according to target. In 3Q19, growth in the Thai economy decelerated primarily driven by a decline in export growth from world-trade sluggish effecting from Trade War. However, the Thai economy is
while revenue from residential projects is expected to increase in 2H19 and accordingly with CPN’s business plan. In 2Q19, growth in the Thai economy decelerated primarily driven by a decline in export