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    CPN   TH0481B10Z00

CENTRAL PATTANA PUBLIC COMPANY LIMITED

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Central Pattana : Thailand's top mall operator Central Pattana to put tenant products online

06/29/2021 | 06:24am EDT

BANGKOK (Reuters) - Thailand largest mall owner, Central Pattana Pcl on Tuesday said it plans to allow its thousands of mall tenants to sell through its digital platform, as the country's most severe coronavirus outbreak keeps shoppers at bay.

Central Pattana has 33 shopping centres in Thailand, where malls must operate shorter hours due the coronavirus restrictions and restaurants can take only take delivery orders.

"Since customers are not coming to store, we are bringing it to them," Head of Corporate Marketing, Central Retail Corporation Pcl, Piyawan Leelasompop, told reporters.

The platform, currently run by Central Retail Corp, will allow 15,000 tenants to sell through an app, via phone and instant messaging.

Central Pattana saw 13% of total sales come through these channels in the first quarter of this year, triple that of over a year ago, she said.

Central Pattana's net income shrunk in the last four consecutive quarters on a yearly basis, booking 3.8 billion baht ($118.6 million) in the three months ending in March.

It will move ahead with the opening of two new malls in Thailand this year, said Nattakit Tangpoonsinthana, executive vice president of marketing, adding the company set a budget of 400 million baht for the rest of the year to manage tenant rent.

($1 = 32.0000 baht)

(Reporting by Chayut Setboonsarng; Editing by Martin Petty)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CENTRAL PATTANA PUBLIC COMPANY LIMITED -3.70% 52 End-of-day quote.8.90%
CENTRAL RETAIL CORPORATION PUBLIC COMPANY LIMITED -1.48% 33.25 End-of-day quote.8.13%
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Financials
Sales 2021 24 785 M 745 M 745 M
Net income 2021 8 066 M 242 M 242 M
Net Debt 2021 45 055 M 1 353 M 1 353 M
P/E ratio 2021 30,0x
Yield 2021 1,22%
Capitalization 232 B 6 979 M 6 984 M
EV / Sales 2021 11,2x
EV / Sales 2022 8,86x
Nbr of Employees -
Free-Float 67,8%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 52,00 THB
Average target price 57,42 THB
Spread / Average Target 10,4%
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Managers and Directors
Preecha Ekkunagul President, Chief Executive Officer & Director
Naparat Sriwanvit SEVP-Finance, Accounting & Risk Management
Suthichai Chirathivat Chairman
Paitoon Taveebhol Independent Non-Executive Director
Karun Kittisataporn Lead Independent Non-Executive Director