for the four joint venture companies between CPN and DTC. CPN will gradually invest in accordance with the progress of project. The final shareholding proportion of CPN will be 40% in hotel, residence
investment of THB 281 mn. Asset Enhancement Projects 1) CentralWorld started a phase-by-phase major renovation since 4Q16 and is expected to be progressively completed by 3Q18. Occupancy rate at the end of
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
CentralPlaza Rama 3, which is owned by CPNREIT and has undergone a 6-month renovation program completed and re-opened in December 2017 under the concept of “Where Nature Meets Urban Living”, a blend of urban
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
also made continuous progress with the asset enhancement initiatives, particularly with CentralWorld, which is on track for completion in 3Q18. Preparations are also made with the major renovation
progress reached 91%. The project is due to complete in 3Q19. • In February, the Company partnered-up with HKL (Thai Developments) Limited, a subsidiary of a global developer Hongkong Land Holdings Limited
(THB 4mn in the previous year) as the building is currently under renovation. Other income fell 2.7% YoY or THB 3mn to THB 108mn, mainly from reclassification of other (sundry) income and lower interest
million, results include the planned River Wing renovation works which significantly reduced available room inventory for sale. The target opening in October 2019 has been delayed, however the risk
3Q17, sales progress reached 91%. The project was due to complete in 3Q19. Management Discussion and Analysis 3Q17 & 9M17 Consolidated Financial Results Page 2 of 6 • In February 2017, the Company