The company yesterday announced the construction of four new complexes costing a total of Bt18 billion, and is searching for new locations for more complexes, both in Thailand and abroad.

CPN president Kobchai Chirathivat yesterday announced the construction of four new

projects: in Pattaya worth Bt7 billion; Chaeng Wattana in Bangkok - Bt6 billion; Chon Buri - Bt2.5 billion; and Khon Kaen - Bt2.5 billion.

All the complexes will be finished between late 2008 and 2009.

They will result in the company achieving revenues of Bt9.4 billion by 2008, Bt12 billion in 2009 and Bt15 billion in 2010.

The new complexes will create 3,000 new jobs at each branch.

When construction on the four new complexes is completed, the company would have achieved 14 shopping complexes in its 27 years of operation.

He said the company has already set up a separate team to search for new locations for another four projects and also manage them.

Abroad, the target is big cities but the firm was still looking for locations.

Meanwhile, the company expects the State Railway of Thailand to continue the land-lease contract for its Central Lat Phrao shopping complex. Kobchai said Central Inter Pattana, a company under the Central Group, is negotiating with SRT.

He expected it to be finalised by the end of the year.

He denied an earlier news report that stated the National Legislative Assembly had ordered the landlord not to continue the leasing contract.

He said Central Lat Phrao had been playing a major role in developing the Lat Phrao area and the shopping complex had never

broken the contract, hence

there should be no reason for the landlord to discontinue the contract.

For its new project at the Suan Lum Night Bazaar site, Kobchai said the company was waiting for the Crown Property Bureau Office to find the best solution and compensation to move the current tenants out and transfer the 40-rai land plot to the company by the end of the year.

As an initial step, the company plans to invite all current tenants to transfer their shops to Central branches, both new and current shopping complexes nationwide.

The company plans to allocate Bt500 million to Bt600 million as marketing budget this year. One marketing activity is to join with tenants to offer 30- to 70-per-cent discounts at the end of every month.

Nitida Asawanipont

The Nation