[WHAT] Opening of Central International Watch Fair 2009.
HRH Princess Soamsawali views the watch exhibition, accompanied by Yuwadee Chirathivat and Sirikate Chirakiti.
[WHERE] Event Hall, 3rd floor, Central Chidlom.
Atichart Chumnanont with Parmigiani Fleurier and Araya Aharget with Piaget’s Limelight High Jewellery 89,900,000.
[HOST] Yuwadee Chirathivat, president of Central Department Stores.
Tos Chirathivat.
[HIGHLIGHT] Watch fashion show, in the presence of HRH Princess Soamsawali, by celebrities as well as leading actors, actresses and models.
Dr Suvit and Khunying Songsuda Yodmani.
Thanop with Namon, his son; Navipa; and Chaiyos Eiamamornpan.
MRSupanee Diskul, Alena Piamkulawanich with Cartier, Pumi Sarasin with Audemars Piguet’s Millenary, Prae Sarasin and Pantila Debhakam.
Aonanong and Atiporn Senavong.
Friday, August 28, 2009
CARREFOUR SINKS INTO RED AS SHOPPERS START TO SAVE
French supermarket giant Carrefour, ranked world No 2, yesterday said it had slipped into the red for t he first half in difficult times but still confirmed its 2009 earning targets.
The company, second only to Wal-Mart of the US, posted a net loss of 58 million euros(Bt2.8 billion)in the six months to June after taking exceptional charges of Euro511 million.
Operating profit fell 27.6 per cent from a year earlier to Euro1.01 billion.
The results reflect both a difficult environment and the company's strategic choices as it positions itself going ahead, said finance director Pierre Bouchut.
If the exceptional charges were stripped out, net earning were down 42.4 per cent to Euro415 million, Carrefour said.
Analyst forecasts had been for a net profit of around Euro100 million euros after exceptional charges of Euro550 million.
Carrefour said it still expected a 2009 operating profit before exceptional items of Euro2.7 billion to Euro2.8 billion if current trends and sales continued.
It also confirmed its target to secure cost saving of Euro4.5 billion by 2012, with Euro212 million achieved in the first half this year.
Carrefour said sales had held up well in the six months, with revenue down 1.6 per cent from a year earlier but up 1.9 per cent if fuel, exchange effects and seasonal-adjustments were taken into account.
"We are a good way towards achieving our 2009 objectives, towards carrying out our transformation plan," Carrefour head Lars Olofsson said.
The company, second only to Wal-Mart of the US, posted a net loss of 58 million euros(Bt2.8 billion)in the six months to June after taking exceptional charges of Euro511 million.
Operating profit fell 27.6 per cent from a year earlier to Euro1.01 billion.
The results reflect both a difficult environment and the company's strategic choices as it positions itself going ahead, said finance director Pierre Bouchut.
If the exceptional charges were stripped out, net earning were down 42.4 per cent to Euro415 million, Carrefour said.
Analyst forecasts had been for a net profit of around Euro100 million euros after exceptional charges of Euro550 million.
Carrefour said it still expected a 2009 operating profit before exceptional items of Euro2.7 billion to Euro2.8 billion if current trends and sales continued.
It also confirmed its target to secure cost saving of Euro4.5 billion by 2012, with Euro212 million achieved in the first half this year.
Carrefour said sales had held up well in the six months, with revenue down 1.6 per cent from a year earlier but up 1.9 per cent if fuel, exchange effects and seasonal-adjustments were taken into account.
"We are a good way towards achieving our 2009 objectives, towards carrying out our transformation plan," Carrefour head Lars Olofsson said.
Thursday, August 27, 2009
World-class culinary showcase
Bangkok will play host to an extensive international culinary event when Asia's 1st Culinary Cup 2009 comes to Royal Paragon Hall, Siam Paragon, from September 2-5. It will coincide with the Food & Hotel Thailand 2009,one of the kingdom's biggest hospitality trade exhibitions featuring food and drink, hotels, catering, bakery, restaurants and kitchen equipment, retail supplies and services.
Asia's 1st Culinary Cup will be the first international culinary art contest and convention, and a platform where professionals from all over the world can showcase their talents. The event is organised by the Thai-Swiss Culinary Consultants in association with the Thai Chef's Association, the Thai Hotels Association and the Thai Convention and Exhibition Bureau (TCEB), with experts from World Association of Chef's Societies (WACS) as consultants.
"More than 200 award-winning chefs from around the world have confirmed their attendance," said Jamnong Nirangsan, president of the Thai Chefs Association."The competition will follow the rules of similar projects in Germany,Singapore and France, and the judges will be well-known culinary experts, most of whom are WACS approved international judges.
"Taking part in the competition will be teams from national and regional culinary associations as well as individual professionals from around the world.So far,12 countries have already registered - Australia, Austria, China, UAE,Holland, South Korea, Malaysia, Philippines, Singapore, Slovakia, Taiwan and Thailand."
The four-day Culinary Cup will see competitions in various fields including fruit and vegetable-carving, ice-carving,Thai cooking, Asian cooking, Western cooking, US turkey-cooking, modern sandwich-making, breakfast-cooking,cake-dressing, meat and poultry-cooking,Italian pasta dishes, petits fours/pralines/tea pastries, dessert-making, East meets West cooking, a Gourmet Team Challenge and the Hans Bueschkens Junior Chefs Challenge
"Apart from the culinary competitions,the event will become a platform for the Asian industry for presenting a range of related activities, business opportunities,and the chance to explore what Bangkok has to offer in terms of hospitality and culinary arts," said Jamnong.
"The flourishing infrastructure that Bangkok can provide in terms of its hotels,great restaurants and food facilities will add significantly to the experience of what will probably be the best culinary event ever held in Asia," he said.
Food & Hotel Thailand 2009 is expected to bring together more than 25,000 hoteliers, chefs, hypermarket executives,restaurant owners and managers, caterers, housekeeping managers and other related professionals. It will also coincide with Hostec Asia, the only international trade event for Asia's food and hospitality professionals; the Asean Hotel Congress;the Thai Restaurant Conference; the Thai Retailers Summit and the Food & Beverage Association of Thailand's International Wine Challenge.
Food & Hotel Thailand 2009 and Asia's 1st Culinary Cup 2009 and other related shows will all be held at Royal Paragon Hall on the fifth floor of Siam Paragon from September 2-5, daily from 10:30am-6:30pm. For more information, please visit www.foodhotelthailand.com or www.asiaculinarycup09.com.
Asia's 1st Culinary Cup will be the first international culinary art contest and convention, and a platform where professionals from all over the world can showcase their talents. The event is organised by the Thai-Swiss Culinary Consultants in association with the Thai Chef's Association, the Thai Hotels Association and the Thai Convention and Exhibition Bureau (TCEB), with experts from World Association of Chef's Societies (WACS) as consultants.
"More than 200 award-winning chefs from around the world have confirmed their attendance," said Jamnong Nirangsan, president of the Thai Chefs Association."The competition will follow the rules of similar projects in Germany,Singapore and France, and the judges will be well-known culinary experts, most of whom are WACS approved international judges.
"Taking part in the competition will be teams from national and regional culinary associations as well as individual professionals from around the world.So far,12 countries have already registered - Australia, Austria, China, UAE,Holland, South Korea, Malaysia, Philippines, Singapore, Slovakia, Taiwan and Thailand."
The four-day Culinary Cup will see competitions in various fields including fruit and vegetable-carving, ice-carving,Thai cooking, Asian cooking, Western cooking, US turkey-cooking, modern sandwich-making, breakfast-cooking,cake-dressing, meat and poultry-cooking,Italian pasta dishes, petits fours/pralines/tea pastries, dessert-making, East meets West cooking, a Gourmet Team Challenge and the Hans Bueschkens Junior Chefs Challenge
"Apart from the culinary competitions,the event will become a platform for the Asian industry for presenting a range of related activities, business opportunities,and the chance to explore what Bangkok has to offer in terms of hospitality and culinary arts," said Jamnong.
"The flourishing infrastructure that Bangkok can provide in terms of its hotels,great restaurants and food facilities will add significantly to the experience of what will probably be the best culinary event ever held in Asia," he said.
Food & Hotel Thailand 2009 is expected to bring together more than 25,000 hoteliers, chefs, hypermarket executives,restaurant owners and managers, caterers, housekeeping managers and other related professionals. It will also coincide with Hostec Asia, the only international trade event for Asia's food and hospitality professionals; the Asean Hotel Congress;the Thai Restaurant Conference; the Thai Retailers Summit and the Food & Beverage Association of Thailand's International Wine Challenge.
Food & Hotel Thailand 2009 and Asia's 1st Culinary Cup 2009 and other related shows will all be held at Royal Paragon Hall on the fifth floor of Siam Paragon from September 2-5, daily from 10:30am-6:30pm. For more information, please visit www.foodhotelthailand.com or www.asiaculinarycup09.com.
Tuesday, August 25, 2009
CPN speeds up development spurt
Central Pattana Plc (CPN), the country's largest commercial property developer,is speeding up expansion with plans for at least eight new projects over the next six years, bringing its total to almost 30 shopping centres by 2016.
Naris Cheyklin, senior executive vicepresident for finance and accounting,said the Central Group affiliate wanted to grow in line with the country's econ-omy, which is expected to return to an upward trend.
As well, he said, if the company's first overseas retail development is successful, it would accelerate overseas expansion. CPN is committed to expanding outlets in China through its own developments and by acquisitions.
"Investing in China at the moment has lower business risk than in Thailand.The Chinese economy is now 10 years ahead of Thailand," Mr Naris told an analysts' briefing yesterday.
Between 2001 and 2005, CPN opened four new shopping centres and made plans to add eight more between 2006 and 2010.
Mr Naris said CPN planned to spend 5.84 billion baht from 2010-12 to develop projects, including one on the site of the the former Pre-Cadet School on Rama IV Road next to the Suan Lum Night Bazaar, and in Chiang Mai.
The company will enter a lease agreement with the Crown Property Bureau after the completion of site clearing on Rama IV Road. It will develop a shopping centre on its own but will join with some partners to develop some office buildings. CPN has contacts from foreign investors in Japan and some Western countries to jointly develop the office blocks.
CPN will finance its future expansion by using operating cash flow, bank loans or debenture issues and its property fund.
The SET-listed company will transfer its assets in Chiang Mai and another retail project to the listed CPN Retail Growth Fund (CPNRF) to raise an additional 3-4 billion baht next year. This excludes funds to be raised from the sale of its Central Pin Klao mall, one of the company's best performers, to the fund in November.
During the first half, CPN's revenues grew by 31% year-on-year to 2.97 billion baht and net profit rose 13% to 587 million. The increasing revenues were driven by the opening of four new pro-jects in Chaeng Watthana, Pattaya, Udon Thani and Chon Buri.
Net profit did not grow much because the company faced additional operating costs and depreciation and amortisation of the new projects in addition to higher sub-lease payments for Central Plaza Lat Phrao after the renewal of its sublease agreement. The company expects its revenues this year to grow above its earlier projection of 25%.
CPN shares closed yesterday on the Stock Exchange of Thailand at 20.70 baht, down 20 satang, in trade worth 54.08 million baht. CPNRF units rose 10 satang to 9.15 baht, in trade worth 3.9 million baht.
Naris Cheyklin, senior executive vicepresident for finance and accounting,said the Central Group affiliate wanted to grow in line with the country's econ-omy, which is expected to return to an upward trend.
As well, he said, if the company's first overseas retail development is successful, it would accelerate overseas expansion. CPN is committed to expanding outlets in China through its own developments and by acquisitions.
"Investing in China at the moment has lower business risk than in Thailand.The Chinese economy is now 10 years ahead of Thailand," Mr Naris told an analysts' briefing yesterday.
Between 2001 and 2005, CPN opened four new shopping centres and made plans to add eight more between 2006 and 2010.
Mr Naris said CPN planned to spend 5.84 billion baht from 2010-12 to develop projects, including one on the site of the the former Pre-Cadet School on Rama IV Road next to the Suan Lum Night Bazaar, and in Chiang Mai.
The company will enter a lease agreement with the Crown Property Bureau after the completion of site clearing on Rama IV Road. It will develop a shopping centre on its own but will join with some partners to develop some office buildings. CPN has contacts from foreign investors in Japan and some Western countries to jointly develop the office blocks.
CPN will finance its future expansion by using operating cash flow, bank loans or debenture issues and its property fund.
The SET-listed company will transfer its assets in Chiang Mai and another retail project to the listed CPN Retail Growth Fund (CPNRF) to raise an additional 3-4 billion baht next year. This excludes funds to be raised from the sale of its Central Pin Klao mall, one of the company's best performers, to the fund in November.
During the first half, CPN's revenues grew by 31% year-on-year to 2.97 billion baht and net profit rose 13% to 587 million. The increasing revenues were driven by the opening of four new pro-jects in Chaeng Watthana, Pattaya, Udon Thani and Chon Buri.
Net profit did not grow much because the company faced additional operating costs and depreciation and amortisation of the new projects in addition to higher sub-lease payments for Central Plaza Lat Phrao after the renewal of its sublease agreement. The company expects its revenues this year to grow above its earlier projection of 25%.
CPN shares closed yesterday on the Stock Exchange of Thailand at 20.70 baht, down 20 satang, in trade worth 54.08 million baht. CPNRF units rose 10 satang to 9.15 baht, in trade worth 3.9 million baht.
IT lifestyle centre opened in Siam Square
Trendy tech-savvy users coupled with advanced IT technologies are driving the newest digital lifestyle centre in Thailand. Meanwhile, however, the majority of consumers are sticking with traditional computer stores that offer more affordable products.
The potential growth of IT products among the digital generation was the key factor behind the newly opened 500-million-baht "Digital Gateway" at Center Point in Siam Square, said Soammaphat Traisorat, Executive Director of TCC Land, at the official launch.
Its location connected with the mass transit system is an important indication that the centre sees a bright future despite the current economic circumstances that may have a minor affect on tourists visiting in the centre.
Over the next three years the company plans to allocate one or two trolleys for IT lifestyle products in a project called "Gateway Ekamai" connected to Ekamai skytrain station.
Wallapa Traisorat, Executive Director,said that the 8,000-square-metre Digital Gateway combined digital technology,entertainment and learning for a new generation. It is also the first IT lifestyle centre in its group portfolio of computer centres which includes Pantip Plaza in Pratunam.
The building itself looks like a space tunnel which links the present with the future. The centre showcases the latest interactive media.
The centre has also partnered with Microsoft to become the first "Clean Mall"- an IT centre without any pirated software.
There are other IT flagship stores like iStudio, which is the second largest in Thailand, and the biggest True Lifestyle Shop. In addition, Oakley has also opened its second largest outlet in Asia.
Wisanu Wangwisut, Managing Director of Thippatana Arcade, the developer and property manager of Digital Gateway,a subsidiary of TCC Land Group, said that the centre's visitor profile ranged from 13 to 29-year olds, the dominant age group in Siam Square, and expected 100,000 visitors per day.
The company's expansion plan includes Pantip Plaza Bangkapi, a traditional computer centre which will open this September. It also intends to find other potential areas for computer centres such as Bang Yai district and Charoen Krung Road.
Accharas Ouysinprasert, Intel Microelectronics (Thailand) Country Manager,said the establishment of digital lifestyle centres and specialist stores showed how developed and mature the computer market here had become.
For trendy users in the centre, price is not main issue in making decisions but the users are more interested in styles and designs which reflect their personalities. For instance, the prices of notebooks with the same speed CPU may differ because of the other features they offer which serve a variety of consumer lifestyles. For example, Atom processor that can be used in normal netbooks or gadgets, and Asus HTPC keyboard with a five-inch small screen display with built-in HDMI port.
The recent consumer ultra-low voltage platform which helps to produce new ultra thin and light notebooks ranges from 20,000-80,000 baht depending on the material, design and other unique features.
From a design perspective shape, colour and materials, even in dustless key-boards or automotive power light safe display can attract experienced users or second-time buyers.
Pornthep Watchara-Amnouy, Managing Director of ASUSTek Computer,said that the company has to help its retail partners to select mid to high end notebooks and gadgets to fit in with the profile of the centre.
Chan Chaovanich, Managing Director of Speed Computer which has three brand shops in the centre, said because of higher rental costs from others, this is the first time that its big three suppliers - Asus, HP and Intel- have supported the space cost.
Meanwhile Ekachai Sirijirapatana,President of IT City, one of the largest IT superstores in Thailand, said that within the next three years, IT centres should have space of more than 10,000 square metres in order to support a variety of products for customer needs.
IT is a highly competitive market which has lowmargins ranging from 6-13 percent, so the volume of sales is important.If this sells in high cost rental area it means more premium products to sell even it has a greater margin, the volume will not cover the expenses.
"I think the upcountry areas, especially those with local department stores that still do not have IT shops and growing demand from consumer as well as low rental price more attractive," Ekachai said.
The potential growth of IT products among the digital generation was the key factor behind the newly opened 500-million-baht "Digital Gateway" at Center Point in Siam Square, said Soammaphat Traisorat, Executive Director of TCC Land, at the official launch.
Its location connected with the mass transit system is an important indication that the centre sees a bright future despite the current economic circumstances that may have a minor affect on tourists visiting in the centre.
Over the next three years the company plans to allocate one or two trolleys for IT lifestyle products in a project called "Gateway Ekamai" connected to Ekamai skytrain station.
Wallapa Traisorat, Executive Director,said that the 8,000-square-metre Digital Gateway combined digital technology,entertainment and learning for a new generation. It is also the first IT lifestyle centre in its group portfolio of computer centres which includes Pantip Plaza in Pratunam.
The building itself looks like a space tunnel which links the present with the future. The centre showcases the latest interactive media.
The centre has also partnered with Microsoft to become the first "Clean Mall"- an IT centre without any pirated software.
There are other IT flagship stores like iStudio, which is the second largest in Thailand, and the biggest True Lifestyle Shop. In addition, Oakley has also opened its second largest outlet in Asia.
Wisanu Wangwisut, Managing Director of Thippatana Arcade, the developer and property manager of Digital Gateway,a subsidiary of TCC Land Group, said that the centre's visitor profile ranged from 13 to 29-year olds, the dominant age group in Siam Square, and expected 100,000 visitors per day.
The company's expansion plan includes Pantip Plaza Bangkapi, a traditional computer centre which will open this September. It also intends to find other potential areas for computer centres such as Bang Yai district and Charoen Krung Road.
Accharas Ouysinprasert, Intel Microelectronics (Thailand) Country Manager,said the establishment of digital lifestyle centres and specialist stores showed how developed and mature the computer market here had become.
For trendy users in the centre, price is not main issue in making decisions but the users are more interested in styles and designs which reflect their personalities. For instance, the prices of notebooks with the same speed CPU may differ because of the other features they offer which serve a variety of consumer lifestyles. For example, Atom processor that can be used in normal netbooks or gadgets, and Asus HTPC keyboard with a five-inch small screen display with built-in HDMI port.
The recent consumer ultra-low voltage platform which helps to produce new ultra thin and light notebooks ranges from 20,000-80,000 baht depending on the material, design and other unique features.
From a design perspective shape, colour and materials, even in dustless key-boards or automotive power light safe display can attract experienced users or second-time buyers.
Pornthep Watchara-Amnouy, Managing Director of ASUSTek Computer,said that the company has to help its retail partners to select mid to high end notebooks and gadgets to fit in with the profile of the centre.
Chan Chaovanich, Managing Director of Speed Computer which has three brand shops in the centre, said because of higher rental costs from others, this is the first time that its big three suppliers - Asus, HP and Intel- have supported the space cost.
Meanwhile Ekachai Sirijirapatana,President of IT City, one of the largest IT superstores in Thailand, said that within the next three years, IT centres should have space of more than 10,000 square metres in order to support a variety of products for customer needs.
IT is a highly competitive market which has lowmargins ranging from 6-13 percent, so the volume of sales is important.If this sells in high cost rental area it means more premium products to sell even it has a greater margin, the volume will not cover the expenses.
"I think the upcountry areas, especially those with local department stores that still do not have IT shops and growing demand from consumer as well as low rental price more attractive," Ekachai said.
Monday, August 24, 2009
CENTRAL PATTANA GEARS FOR FIRST OVERSEAS JV
Leading mall developer Central Pattana (CPN) will conclude a joint-venture deal with a potential Chinese partner within six to eight months, president and CEO Kobchai Chirathivat said yesterday.
A shopping mall to be located in China will be CPN's first foreign project, costing Bt4 billion to Bt5 billion and take up to three years to build.
"We see China as a huge market with tremendous business potential. There are 20 major cities there, each with more than 10 million population on average," said Kobchai.
But he declined to name which city might host the project until after a partnership deal was signed.
Kobchai said CPN had negotiated with many landlords in major Chinese cities in China for joint-venture possibilities.
"However, we want to be the major shareholder in the joint venture, because we want to manage the mall. We require a local partner with good connections to state officials and local businesses," he said.
Kobchai said CPN would develop the mall's concept to match that of the community around it.
"We want to be part of their community," said Kobchai.
Kobchai said like Thailand, China had formulated a policy of attracting foreign investors, particularly in the trading and retail sectors. However, the Chinese government allows foreign investors to own more than half of a joint venture.
"We'll select a location with less competition and in which we can lead the market," said Kobchai, adding that the move was in line with CPN's strategy of dominating the shopping-centre market in each location it entered.
"We've been conducting a market-feasibility in China for five years now. Before that, we delayed our plans in the wake of the 1997 financial crisis.
Kobchai said CPN would also spend Bt8 billion to Bt9 billion to develop new shopping centres domestically next year, including on Rama IX Road.
A shopping mall to be located in China will be CPN's first foreign project, costing Bt4 billion to Bt5 billion and take up to three years to build.
"We see China as a huge market with tremendous business potential. There are 20 major cities there, each with more than 10 million population on average," said Kobchai.
But he declined to name which city might host the project until after a partnership deal was signed.
Kobchai said CPN had negotiated with many landlords in major Chinese cities in China for joint-venture possibilities.
"However, we want to be the major shareholder in the joint venture, because we want to manage the mall. We require a local partner with good connections to state officials and local businesses," he said.
Kobchai said CPN would develop the mall's concept to match that of the community around it.
"We want to be part of their community," said Kobchai.
Kobchai said like Thailand, China had formulated a policy of attracting foreign investors, particularly in the trading and retail sectors. However, the Chinese government allows foreign investors to own more than half of a joint venture.
"We'll select a location with less competition and in which we can lead the market," said Kobchai, adding that the move was in line with CPN's strategy of dominating the shopping-centre market in each location it entered.
"We've been conducting a market-feasibility in China for five years now. Before that, we delayed our plans in the wake of the 1997 financial crisis.
Kobchai said CPN would also spend Bt8 billion to Bt9 billion to develop new shopping centres domestically next year, including on Rama IX Road.
Sunday, August 23, 2009
NORTHEAST NEW STRATEGIC MARKET
Leading shopping-mall developer Central Pattana (CPN) regards the Northeast as its new strategic mall location and consumer market, according to the company's president and chief executive, Kobchai Chirathivat.
The company has already invested Bt4 billion in constructing its new CentralPlaza comlex in Khon Kaen, which will be officially opened on December 3.
It will also renovate CentralPlaza Udon Thani to attract shoppers from neighbouring provinces, including those from Loas. CPN took over Charoensri Plaza in Udon Thani early this year and renamed it CentralPlaza Udon Thani. The combined cost of the takeover, involving a shopping mall, a hotel and a convention centre, and the renovations is at least Bt5.3 billion.
CPN's foray into the northeastern region reflects the company's intention to dominate the shopping-mall market in all regions. It recently established its second shopping mall in Pattaya and its first shopping mall in Chon Buri. In 2011, it plans to open its second shopping mall in Chiang Mai and its first in Chiang Rai.
Kobchai said that CPN's huge investment in the Khon Kaen shopping mall would stimulate consumption and the overall economy, not only in Khon Kaen but also in neighbouring provinces.
He said Khon Kaen had great business potential because of its large population of people living purchasing power of people living there. Khon Kaen people also have a modern lifestyle.
Located on 45-rai (7.2 hectares) of land on the Mittraparp-Srichan intersection, CentralPlaza Khon Kaen features about 120,000 square metres of retail space.
"More than 90 per cent of the retail space at CentralPlaza Khon Kaen has already been occupied by more than 200 retail tenants, including 200 retail tenants, including retail and entertainment anchors such as Robinson Department Store and SF Cinema City," Kobchai said.
The tenants will spends a combined Bt1 billion to Bt2 billion on their retail-shop decoration.
The shopping complex will target potential shoppers living in eight or nine neighbouring provinces, including Nakhon Ratchasima and Udon Thani. For CentralPlaza Udon Thani, CPN will increase its size from about 30,000 square metres to more than 100,000 square metres within three years, under the renovation programme.
Last week, CPN invited potential tenants of CentralPlaza Khon Kaen to visit the shopping mall as it nears completion.
Nitipon Chaisakulchai, the managing director of Nitipon Group, a leading beauty-clinic operator and a potential tenant, said the expansion of CentralPlaza shopping malls in the Northeast would create new business opportunities for retail tenants in Bangkok that wanted to open upcountry outlets.
"Our Nitipon clinic branches already cover all prime locations in Bangkok and what want to do next is to expand our retail network upcountry. We also see the Northeast as the next strategic location for our expansion," he said. The company currently operates about 37 Nitipon Clinics, seven of which were opened in the first half of this year.
SF Cinema City managing director Suvit Thongrompo, whose company operates multiplex autitoriums, said the company had invested Bt200 million to open eifht cinemas at CentralPlaza Khon Kaen with total seating for 1,800. Another Bt50 million would also be spent on a 14-lane blowing alley and 12-room karaoke house at the plaza.
"We and CPN share the same view about the great potential of Khon Kaen. The competition, especially in the cinema business, is less intense," Suvit said.
There are currently only two theatre complexes in Khon Kaen, both of them operated by local film distributors. One of them, at Fairy Plaza, has four theatres and the other, at Kosa shopping mall, has only two theatre screens.
"Khon Kaen is a university city with a huge a number of students. They are the key targets for the cinema business," Suvit said.
The company has already invested Bt4 billion in constructing its new CentralPlaza comlex in Khon Kaen, which will be officially opened on December 3.
It will also renovate CentralPlaza Udon Thani to attract shoppers from neighbouring provinces, including those from Loas. CPN took over Charoensri Plaza in Udon Thani early this year and renamed it CentralPlaza Udon Thani. The combined cost of the takeover, involving a shopping mall, a hotel and a convention centre, and the renovations is at least Bt5.3 billion.
CPN's foray into the northeastern region reflects the company's intention to dominate the shopping-mall market in all regions. It recently established its second shopping mall in Pattaya and its first shopping mall in Chon Buri. In 2011, it plans to open its second shopping mall in Chiang Mai and its first in Chiang Rai.
Kobchai said that CPN's huge investment in the Khon Kaen shopping mall would stimulate consumption and the overall economy, not only in Khon Kaen but also in neighbouring provinces.
He said Khon Kaen had great business potential because of its large population of people living purchasing power of people living there. Khon Kaen people also have a modern lifestyle.
Located on 45-rai (7.2 hectares) of land on the Mittraparp-Srichan intersection, CentralPlaza Khon Kaen features about 120,000 square metres of retail space.
"More than 90 per cent of the retail space at CentralPlaza Khon Kaen has already been occupied by more than 200 retail tenants, including 200 retail tenants, including retail and entertainment anchors such as Robinson Department Store and SF Cinema City," Kobchai said.
The tenants will spends a combined Bt1 billion to Bt2 billion on their retail-shop decoration.
The shopping complex will target potential shoppers living in eight or nine neighbouring provinces, including Nakhon Ratchasima and Udon Thani. For CentralPlaza Udon Thani, CPN will increase its size from about 30,000 square metres to more than 100,000 square metres within three years, under the renovation programme.
Last week, CPN invited potential tenants of CentralPlaza Khon Kaen to visit the shopping mall as it nears completion.
Nitipon Chaisakulchai, the managing director of Nitipon Group, a leading beauty-clinic operator and a potential tenant, said the expansion of CentralPlaza shopping malls in the Northeast would create new business opportunities for retail tenants in Bangkok that wanted to open upcountry outlets.
"Our Nitipon clinic branches already cover all prime locations in Bangkok and what want to do next is to expand our retail network upcountry. We also see the Northeast as the next strategic location for our expansion," he said. The company currently operates about 37 Nitipon Clinics, seven of which were opened in the first half of this year.
SF Cinema City managing director Suvit Thongrompo, whose company operates multiplex autitoriums, said the company had invested Bt200 million to open eifht cinemas at CentralPlaza Khon Kaen with total seating for 1,800. Another Bt50 million would also be spent on a 14-lane blowing alley and 12-room karaoke house at the plaza.
"We and CPN share the same view about the great potential of Khon Kaen. The competition, especially in the cinema business, is less intense," Suvit said.
There are currently only two theatre complexes in Khon Kaen, both of them operated by local film distributors. One of them, at Fairy Plaza, has four theatres and the other, at Kosa shopping mall, has only two theatre screens.
"Khon Kaen is a university city with a huge a number of students. They are the key targets for the cinema business," Suvit said.
Friday, August 21, 2009
TIME ON THE MOVE
The red carpet will be rolled out once again to welcome some of the world's most prestigious watch brands when they parade their latest collections to showcase at this year's Central International Watch Fair (CIWF)2009, Southeast Asia's biggest retail event for watch-lovers and collectors. This must see event will be held at the Event Hall of Central Chidlom from August 25 to September 27.
"As the region's leading watch fair organiser, Central has selected new collections and top-brand timepieces including limited edition designs premiered earlier this year at BaselWorld 2009 expo in Switzerland to showcase at this year's Central International Watch Fair," said Yuwadee Chirathivat, president of Central Department Store."We also team up with leading credit cards to offer the best deals to customers through special campaigns and other promotions."
Gracing this year's CIWF are some of the most celebrated names in watchmaking, including A. Lange & Sohne,Audemars Piguet, Blancpain, Breguet,Carl F. Bucherer, Cartier, Chopard,Corum, Franck Muller, Glashutte Original, IWC, Jager-LeCoultre, Montblanc,Parmigiani Fleurier, Piaget, Ulysse Nardin, Vacheron Constantin and Vincent Berard.
One of this year's hottest trends from the watch world is the white-strap watch.Many of the world's luxury watch brands have launched white-strap designs for ladies, but this new trend isn't reserved for them alone. Fashion-forward gentlemen can also update their look with oversized, white-strap watches, versatile accessories that go with a variety of clothing styles.
"Fashion is forever changing, and a constant flow of new trends adds colour,fun and liveliness to the business of dressing up," said Tinakorn Asavarak, a veteran of the fashion scene and one of the most stylish men around.
"Watch fashion, too, is always on the move, in terms of the technology behind the working parts and the design and materials that inspire new collections,which introduce new trends to the fash-ion world. Accessory trends are dictated by couture fashion, and in turn both clothes and accessories trends influence watch fashion."
According to Tinakorn, colour is very important this year, especially white,the symbol of purity and elegance.
"White is the coolest colour this summer and white-strap watches go well with colourful clothes," he says."They look great when mixed with white gold,rose gold or yellow gold. The straps themselves are available in a variety in materials, from classic leather to bleached crocodile to white ceramic or plastic, all of which look very cool and trendy."
Leading watch brands unveiling stylish designs for ladies at Central International Watch Fair 2009, include:
Cartier Baignoire Hypnose, a highjewellery design with two oval faces,one inside the other, mounted on an 18k gold case and surrounded with diamonds. The classic design is enhanced by Roman numerals and white canvas strap with 18k white gold clasp. A quartz timepiece set with 4.15 carats diamonds,it is priced at 2,010,000 baht.
Vacheron Constantin presents Kalla Lune in round white-gold case set with 134,36mm baguette diamonds weighing 7.86 carats. A single rose-cut diamond adorns the crown while the flange glitters with 24 baguette diamonds each weighing 1.36 carats. The dial is paved with mother-of-pearl mosaic, with the pieces intricately put together in a concentric semi-circle pattern then polished until they become one piece, and set with 141 rose-cut diamonds at 9 o'clock. The price is 8,033,000 baht.
Corum highlights its 2009 collection with the sculpture-like Golden Bridge Lady, only five of which were produced worldwide and only one imported to Thailand. It features a see-through,41mm x 34 mm dial made of red or white gold set with 76 baguette diamonds, and black or white crocodile leather strap with red or white gold tongue buckle. The price is 7,175,000 baht for white gold and 7,093,000 baht for rose gold.
Paula Taylor with the trendy whitestrap Corum watch. The Little Lange 1 Moon Phase: Moonstruck from A. Lange & Sohne is available in a daytime and a nighttime version, and only 150 of each were produced. The daytime version features a 36.8mm white gold case, silvery white mother-of-pearl dial set with 58 Wesselton diamonds, and white crocodile strap. The nighttime version has a blue mother-of-pearl dial and matching blue shagreen strap. The price is 1,950,000 baht.
The embodiment of gentle femininity,Blancpain Ultra-Slim has a 26.2mm diameter ruby and diamond encrusted mother-of-pearl dial mounted on a gold case set with double rows of diamonds on the bezel and crown. An automatic self-winding timepiece, it comes with 100-hour power reserve.
Central International Watch Fair 2009, August 25-September 27 at the Event Hall,3rd floor,Central Chidlom, tel 02-793-7420.
"As the region's leading watch fair organiser, Central has selected new collections and top-brand timepieces including limited edition designs premiered earlier this year at BaselWorld 2009 expo in Switzerland to showcase at this year's Central International Watch Fair," said Yuwadee Chirathivat, president of Central Department Store."We also team up with leading credit cards to offer the best deals to customers through special campaigns and other promotions."
Gracing this year's CIWF are some of the most celebrated names in watchmaking, including A. Lange & Sohne,Audemars Piguet, Blancpain, Breguet,Carl F. Bucherer, Cartier, Chopard,Corum, Franck Muller, Glashutte Original, IWC, Jager-LeCoultre, Montblanc,Parmigiani Fleurier, Piaget, Ulysse Nardin, Vacheron Constantin and Vincent Berard.
One of this year's hottest trends from the watch world is the white-strap watch.Many of the world's luxury watch brands have launched white-strap designs for ladies, but this new trend isn't reserved for them alone. Fashion-forward gentlemen can also update their look with oversized, white-strap watches, versatile accessories that go with a variety of clothing styles.
"Fashion is forever changing, and a constant flow of new trends adds colour,fun and liveliness to the business of dressing up," said Tinakorn Asavarak, a veteran of the fashion scene and one of the most stylish men around.
"Watch fashion, too, is always on the move, in terms of the technology behind the working parts and the design and materials that inspire new collections,which introduce new trends to the fash-ion world. Accessory trends are dictated by couture fashion, and in turn both clothes and accessories trends influence watch fashion."
According to Tinakorn, colour is very important this year, especially white,the symbol of purity and elegance.
"White is the coolest colour this summer and white-strap watches go well with colourful clothes," he says."They look great when mixed with white gold,rose gold or yellow gold. The straps themselves are available in a variety in materials, from classic leather to bleached crocodile to white ceramic or plastic, all of which look very cool and trendy."
Leading watch brands unveiling stylish designs for ladies at Central International Watch Fair 2009, include:
Cartier Baignoire Hypnose, a highjewellery design with two oval faces,one inside the other, mounted on an 18k gold case and surrounded with diamonds. The classic design is enhanced by Roman numerals and white canvas strap with 18k white gold clasp. A quartz timepiece set with 4.15 carats diamonds,it is priced at 2,010,000 baht.
Vacheron Constantin presents Kalla Lune in round white-gold case set with 134,36mm baguette diamonds weighing 7.86 carats. A single rose-cut diamond adorns the crown while the flange glitters with 24 baguette diamonds each weighing 1.36 carats. The dial is paved with mother-of-pearl mosaic, with the pieces intricately put together in a concentric semi-circle pattern then polished until they become one piece, and set with 141 rose-cut diamonds at 9 o'clock. The price is 8,033,000 baht.
Corum highlights its 2009 collection with the sculpture-like Golden Bridge Lady, only five of which were produced worldwide and only one imported to Thailand. It features a see-through,41mm x 34 mm dial made of red or white gold set with 76 baguette diamonds, and black or white crocodile leather strap with red or white gold tongue buckle. The price is 7,175,000 baht for white gold and 7,093,000 baht for rose gold.
Paula Taylor with the trendy whitestrap Corum watch. The Little Lange 1 Moon Phase: Moonstruck from A. Lange & Sohne is available in a daytime and a nighttime version, and only 150 of each were produced. The daytime version features a 36.8mm white gold case, silvery white mother-of-pearl dial set with 58 Wesselton diamonds, and white crocodile strap. The nighttime version has a blue mother-of-pearl dial and matching blue shagreen strap. The price is 1,950,000 baht.
The embodiment of gentle femininity,Blancpain Ultra-Slim has a 26.2mm diameter ruby and diamond encrusted mother-of-pearl dial mounted on a gold case set with double rows of diamonds on the bezel and crown. An automatic self-winding timepiece, it comes with 100-hour power reserve.
Central International Watch Fair 2009, August 25-September 27 at the Event Hall,3rd floor,Central Chidlom, tel 02-793-7420.
Art breathes life into old wood
Due to the decreasing forest coverage around the world,wood has become one of the rare natural resources yet it's still a sought-after material for many home lovers.It's the main element in furnishing products and no matter how hard we try to replace it with other synthesised materials natural wood never loses its charm despite being transformed
into new guises over and over again.
Opting for recycled wood products is an ideal
way to help conserve our planet. And neatly
combined with the art idea, the same old wooden piece can be revived into a perfect addition to any space around the room.So if you're falling for the charm of wood but running short of ideas or skills to breathe new life into your own items,just stop by the at Home shop - a new store offering an array of distinctive and stylish furniture and home decorative items made of 100% reclaimed wood with high quality and durability.
Under the "Rustic Chic" concept, the eco-friendly pieces bring you closer to nature while reflecting the simplicity and classic flavour with the help of delicate prints on the surfaces of chairs, tables, cabinets, photo-frames, boxes and even pillows.
The "Botanical Garden" collection will make your home a forest haven with beautiful flowers, birds, butterflies and fruits here and there, while the "Voyager" collection will bring you on a memorable journey with sailing boats and ancient maps.RT
All items are available at 'at Home - Simple Sensual Living' shop located on the 5th floor of Siam Discovery. For more information,call 02-658-0507.
into new guises over and over again.
Opting for recycled wood products is an ideal
way to help conserve our planet. And neatly
combined with the art idea, the same old wooden piece can be revived into a perfect addition to any space around the room.So if you're falling for the charm of wood but running short of ideas or skills to breathe new life into your own items,just stop by the at Home shop - a new store offering an array of distinctive and stylish furniture and home decorative items made of 100% reclaimed wood with high quality and durability.
Under the "Rustic Chic" concept, the eco-friendly pieces bring you closer to nature while reflecting the simplicity and classic flavour with the help of delicate prints on the surfaces of chairs, tables, cabinets, photo-frames, boxes and even pillows.
The "Botanical Garden" collection will make your home a forest haven with beautiful flowers, birds, butterflies and fruits here and there, while the "Voyager" collection will bring you on a memorable journey with sailing boats and ancient maps.RT
All items are available at 'at Home - Simple Sensual Living' shop located on the 5th floor of Siam Discovery. For more information,call 02-658-0507.
Thursday, August 20, 2009
Asia Books starts opening news stores again
Asia Books has started opening new stores again after the poor economy forced delays from the end of last year.
The company intends to have 100 bookstores five years from now, up from 67 today.
Managing director Phumate Manuphibul said the 67 included two new stores recently opened: an Asia Books in Central Lat Phrao and a Bookazine in the Chiang Mai Airport.
"We'll spend Bt50 million to open five new bookstores next year under the Asia Books and Bookazine brands," he said.
Phumate said the company operated three brands: Asia Books (28 branches), Bookazine (37) and Book Outlet (2).
Asia Books serve mostly Thai readers, Bookazine targets foreigners, and Book Outlet has been developed to carry old books that have been on the shelves for more than three years.
"Since the economic slump began late last year, the number of Thai and foreign customers have dropped 20 per cent and 30 per cent, respectively," said Phumate.
He said company sales dropped 5 per cent year on year in the first half. The huge decline in foreign tourists has heavily affected sales performances. Forty per cent of the company's clients are foreigners and 60 per cent Thai.
"But we're seeing positive signs of economic recovery, fostered by a more stable political situation, the government's policy of promoting foreign-tourist arrivals and an injection of cash into the economy," said Phumate. "Now is a good time to invest again."
Phumate said if the government could attract 14 million foreign tourists like it promised, company sales would be flat this year; otherwise, they would be down 10 per cent.
He said the company would open two or three more bookstores this year.
"We're looking at potential locations in the Northeast, including Udon Thani, Khon Kaen and Nakhon Ratchasima, because there are a lot of foreigners in those areas. They're also located along the route tourists take to Laos," said Phumate.
Asia Books has also announced it will celebrate its 40th anniversary in Thailand with a Bt20-million campaign called "Asia Books on Chapter 40".
The company expects sales of more than Bt1 billion this year.
The company intends to have 100 bookstores five years from now, up from 67 today.
Managing director Phumate Manuphibul said the 67 included two new stores recently opened: an Asia Books in Central Lat Phrao and a Bookazine in the Chiang Mai Airport.
"We'll spend Bt50 million to open five new bookstores next year under the Asia Books and Bookazine brands," he said.
Phumate said the company operated three brands: Asia Books (28 branches), Bookazine (37) and Book Outlet (2).
Asia Books serve mostly Thai readers, Bookazine targets foreigners, and Book Outlet has been developed to carry old books that have been on the shelves for more than three years.
"Since the economic slump began late last year, the number of Thai and foreign customers have dropped 20 per cent and 30 per cent, respectively," said Phumate.
He said company sales dropped 5 per cent year on year in the first half. The huge decline in foreign tourists has heavily affected sales performances. Forty per cent of the company's clients are foreigners and 60 per cent Thai.
"But we're seeing positive signs of economic recovery, fostered by a more stable political situation, the government's policy of promoting foreign-tourist arrivals and an injection of cash into the economy," said Phumate. "Now is a good time to invest again."
Phumate said if the government could attract 14 million foreign tourists like it promised, company sales would be flat this year; otherwise, they would be down 10 per cent.
He said the company would open two or three more bookstores this year.
"We're looking at potential locations in the Northeast, including Udon Thani, Khon Kaen and Nakhon Ratchasima, because there are a lot of foreigners in those areas. They're also located along the route tourists take to Laos," said Phumate.
Asia Books has also announced it will celebrate its 40th anniversary in Thailand with a Bt20-million campaign called "Asia Books on Chapter 40".
The company expects sales of more than Bt1 billion this year.
Siam Piwat earmarks Bt5 billion for investment
Siam Piwat, operator of Siam Discovery and Siam Centre shopping malls, has budgeted Bt5 billion to invest in property projects over the next three years.
The budget includes Bt2 billion for taking over and renovating the Seri Centre complex on Bangkok's Srinakarin Road, in partnership with MBK.
Renovations are under way and will be completed next March. A budget of Bt975 million has been set for the purchase of Seri Centre, while another Bt1.1 billion will be spent on refurbishment.
The shopping complex, occupying 90,000 square metres of retail space, officially changed its name to Paradise Park yesterday.
"We want to upgrade the place so that it's similar to [high-end] downtown shopping complexes," said CEO Chadatip Chutrakul.
The project will change the retail business environment and boost living standards in the Srinakarin area, as no new shopping malls have been opened there over the past 10 years, she said.
The Paradise Park shopping |complex is expected to see a 25-|per-cent rise in the number of |shoppers compared with Seri Centre traffic, to about 90,000 people a |day.
The investment will break even within five to seven years. About 70 per cent of the retail space has already been booked by tenants, she said.
Siam Piwat, in partnership with MBK, has also taken over the Premier Rama IX commercial complex, which will be redeveloped into a community mall.
The investment totals Bt800 million, including the price of the land. Siam Piwat and MBK will spend Bt400 million each on the community-mall project, which will be reopened by the middle of next |year.
"Siam Piwat is focusing on investing in promising commercial properties during the current economic situation. We're also interested in hotel, office and other retail properties in Bangkok," said Chadatip.
Another two new developments will be unveiled in the final quarter of this year, with one located downtown and the other in the suburbs of Bangkok.
"Prices for land and property rose sharply four or five years ago, particularly in prime locations. However, they are now more realistic and affordable," said Chadatip.
At good locations, prices have fallen by 20-30 per cent from last year, while competition in the retail industry is now less intense.
The budget includes Bt2 billion for taking over and renovating the Seri Centre complex on Bangkok's Srinakarin Road, in partnership with MBK.
Renovations are under way and will be completed next March. A budget of Bt975 million has been set for the purchase of Seri Centre, while another Bt1.1 billion will be spent on refurbishment.
The shopping complex, occupying 90,000 square metres of retail space, officially changed its name to Paradise Park yesterday.
"We want to upgrade the place so that it's similar to [high-end] downtown shopping complexes," said CEO Chadatip Chutrakul.
The project will change the retail business environment and boost living standards in the Srinakarin area, as no new shopping malls have been opened there over the past 10 years, she said.
The Paradise Park shopping |complex is expected to see a 25-|per-cent rise in the number of |shoppers compared with Seri Centre traffic, to about 90,000 people a |day.
The investment will break even within five to seven years. About 70 per cent of the retail space has already been booked by tenants, she said.
Siam Piwat, in partnership with MBK, has also taken over the Premier Rama IX commercial complex, which will be redeveloped into a community mall.
The investment totals Bt800 million, including the price of the land. Siam Piwat and MBK will spend Bt400 million each on the community-mall project, which will be reopened by the middle of next |year.
"Siam Piwat is focusing on investing in promising commercial properties during the current economic situation. We're also interested in hotel, office and other retail properties in Bangkok," said Chadatip.
Another two new developments will be unveiled in the final quarter of this year, with one located downtown and the other in the suburbs of Bangkok.
"Prices for land and property rose sharply four or five years ago, particularly in prime locations. However, they are now more realistic and affordable," said Chadatip.
At good locations, prices have fallen by 20-30 per cent from last year, while competition in the retail industry is now less intense.
Seri Center to get B1bn overhaul
Seri Center, the first major shopping mall in the Srinakarin area, is undergoing a 1-billion-baht facelift to compete with its neighbouring rival Seacon Square in luxury, variety and feel.
Siam Piwat and MBK, which bought the property in September last year for 975 million baht, are investing because they feel Seri Center has lost out to Seacon Square and must be rejuvenated to meet a new challenge and shoppers'increased expectations.
The 1.02-billion-baht renovation of the 15-year-old complex is scheduled to be completed in March next year.The updated complex will be renamed Paradise Park.
"Paradise Park will be the new shopping paradise of Eastern Bangkok," said Chadatip Chutrakul, vice-president of Seri Center Management Co Ltd, a joint venture between Siam Piwat Co and MBK Plc.
With more than 30 years' experience in retailing, the partners are combining to promote Paradise Park not only to local shoppers from Bangkok and Chon Buri but also - in co-operation with tour agencies - to tourists returning to Suvarnabhumi Airport.
"It has a huge opportunity in this location because nobody has developed a new shopping centre from Sukhumvit Road to eastern Bangkok in the past decade. It has only two competitors Central Bang Na and Seacon Square in that area," she said.
According to the company's survey,the area's 28,000 families have an average household income of 134,712 baht per month. Monthly personal income is 58,316 baht and average expenditure per month is 28,742 baht.
The five-story Paradise Park will have a gross area of 290,000 square metres.Each floor will be divided into different concepts. The mall will have a 5,000-sqm gourmet supermarket, a fashion avenue, a Loft department store, a Digital World, a HomePro and Sky - a pioneering outdoor rooftop Sunday market with more than 100 shops.
The complex is designed to meet demand from the area's shoppers for a variety of stores, convenient location and appealing image. The primary targets are upper- and middle-income consumers - individual shoppers, families and expatriates.
About 70% of space at the mall has been booked and the company expects the remaining space to be booked within the next one or two months.
The company expects to spend 50 million baht on the official opening and to allocate at least 250 million to promoting the complex.
"Our U-shaped shopping centre will be more unique than our competitors and will be the second home of shoppers," she said.
Shares of MBK closed yesterday on the SET at 57.25 baht, down 1.75 baht in trade worth 160,000 baht.
Siam Piwat and MBK, which bought the property in September last year for 975 million baht, are investing because they feel Seri Center has lost out to Seacon Square and must be rejuvenated to meet a new challenge and shoppers'increased expectations.
The 1.02-billion-baht renovation of the 15-year-old complex is scheduled to be completed in March next year.The updated complex will be renamed Paradise Park.
"Paradise Park will be the new shopping paradise of Eastern Bangkok," said Chadatip Chutrakul, vice-president of Seri Center Management Co Ltd, a joint venture between Siam Piwat Co and MBK Plc.
With more than 30 years' experience in retailing, the partners are combining to promote Paradise Park not only to local shoppers from Bangkok and Chon Buri but also - in co-operation with tour agencies - to tourists returning to Suvarnabhumi Airport.
"It has a huge opportunity in this location because nobody has developed a new shopping centre from Sukhumvit Road to eastern Bangkok in the past decade. It has only two competitors Central Bang Na and Seacon Square in that area," she said.
According to the company's survey,the area's 28,000 families have an average household income of 134,712 baht per month. Monthly personal income is 58,316 baht and average expenditure per month is 28,742 baht.
The five-story Paradise Park will have a gross area of 290,000 square metres.Each floor will be divided into different concepts. The mall will have a 5,000-sqm gourmet supermarket, a fashion avenue, a Loft department store, a Digital World, a HomePro and Sky - a pioneering outdoor rooftop Sunday market with more than 100 shops.
The complex is designed to meet demand from the area's shoppers for a variety of stores, convenient location and appealing image. The primary targets are upper- and middle-income consumers - individual shoppers, families and expatriates.
About 70% of space at the mall has been booked and the company expects the remaining space to be booked within the next one or two months.
The company expects to spend 50 million baht on the official opening and to allocate at least 250 million to promoting the complex.
"Our U-shaped shopping centre will be more unique than our competitors and will be the second home of shoppers," she said.
Shares of MBK closed yesterday on the SET at 57.25 baht, down 1.75 baht in trade worth 160,000 baht.
BIG DISCOUNTS ON COMMERCE DAY
The Commerce Ministry, in cooperation with 13 modern traders and convenience stores, on Thursday will host Commerce Day.
Discounts of 20-50 per cent will be offered to consumers in abid to help reduce their cost of living.
The fair is expected to generate at least Bt10 billion in consumer spending in one day, Commerce Minister Porntiva Nakasai said yesterday.
"To celebrate the 89th anniversary of the ministry on August 20, the government, in cooperation with leading malls, wants to help consumers lower their cost of living," she said.
Taking part in the discount fair are Big C, The Mall, Makro, Foodland, Carrefour, Robinson Department Store, Central Department Store, Tesco Lotus, Tops Supermaker, 7-Eleven, Family Mart, 108 shops and Power Buy.
In addition to helping consumers cope with the cost of living amid the rising global oil price, the Internal Trade Department has called on manufacture to maintain retail prices for the rest of the year.
The Department is also considering goods whose price should be lowered following the Bt2-per-litre fall in the domestic price of diesel.
Deputy director-general Vatchari Vimooktayon said price movements of many products were being closely monitored, particularly those of construction materials.
She said manufacturers should not increase their retail price now, because they were now enjoying reduced production and transportation costs, due to the lower diesel oil price.
Discounts of 20-50 per cent will be offered to consumers in abid to help reduce their cost of living.
The fair is expected to generate at least Bt10 billion in consumer spending in one day, Commerce Minister Porntiva Nakasai said yesterday.
"To celebrate the 89th anniversary of the ministry on August 20, the government, in cooperation with leading malls, wants to help consumers lower their cost of living," she said.
Taking part in the discount fair are Big C, The Mall, Makro, Foodland, Carrefour, Robinson Department Store, Central Department Store, Tesco Lotus, Tops Supermaker, 7-Eleven, Family Mart, 108 shops and Power Buy.
In addition to helping consumers cope with the cost of living amid the rising global oil price, the Internal Trade Department has called on manufacture to maintain retail prices for the rest of the year.
The Department is also considering goods whose price should be lowered following the Bt2-per-litre fall in the domestic price of diesel.
Deputy director-general Vatchari Vimooktayon said price movements of many products were being closely monitored, particularly those of construction materials.
She said manufacturers should not increase their retail price now, because they were now enjoying reduced production and transportation costs, due to the lower diesel oil price.
Ex-Samsung boss escapes jail again
A Seoul court ruled yesterday that former Samsung chairman Lee Kunhee was guilty of breach of trust and handed him a suspended prison sentence in another legal blow to the tycoon.
The Seoul High Court sentenced Lee to three years in prison and fined him 110 billion won ($89.2 million) but he won't go to jail if he stays out of trouble for five years. The case centred on charges that Lee caused damage to a Samsung Group company by issuing a type of bond at below market prices.
The 67-year-old Lee, wearing a dark,pinstriped suit, listened quietly to the verdict and then left the courtroom. Samsung had no comment on the ruling and said there had been no decision on whether Lee would appeal.
Lee, one of South Korea's richest people, led Samsung for 20 years following the death of his father, the conglomerate's founder. He has faced a series of legal troubles the past two years and was convicted in 2008 on tax evasion charges and given a suspended prison term.
But the Supreme Court in May upheld lower court rulings that cleared him of alleged illegal financial dealings purportedly aimed at passing control of the business empire to his son.
Lee is a South Korean corporate icon who has personified Samsung. He is widely credited with turning Samsung Electronics Co into a respected global brand. But he resigned as chairman of the company, the conglomerate's flagship corporation, upon indictment for tax evasion and other charges in April 2008.
The Seoul High Court was hearing the breach of trust case for a second time after the Supreme Court in May ordered it to reconsider an earlier verdict.
Presiding Judge Kim Chang-suk said that Lee caused damage of 22.7 billion won to the group company, Samsung SDS, over the issuance of bonds with warrants at about half of their market price.
But he cited Lee's "considerable contribution to the development" of the company in handing down the suspended prison sentence.
He also said that Lee had paid back more than the amount of the damage caused to Samsung SDS, which specialises in system integration and other IT services.
Samsung Group comprises dozens of companies. Besides electronics, it has interests in shipbuilding, construction,insurance and leisure. Its companies account for a big slice of South Korea's exports.
Civic groups have dogged the conglomerate for years, claiming its opaque ownership structure based on crossshareholdings by group companies led to abuses and was meant to ensure the Lee family maintains control.
The verdict didn't bother investors.Shares in Samsung Electronics jumped 4.1% to 731,000. Samsung SDS is unlisted.
Lee was also convicted in 1996, along with other conglomerate chiefs, over presidential bribery. That conviction also resulted in a suspended prison sentence.
The Seoul High Court sentenced Lee to three years in prison and fined him 110 billion won ($89.2 million) but he won't go to jail if he stays out of trouble for five years. The case centred on charges that Lee caused damage to a Samsung Group company by issuing a type of bond at below market prices.
The 67-year-old Lee, wearing a dark,pinstriped suit, listened quietly to the verdict and then left the courtroom. Samsung had no comment on the ruling and said there had been no decision on whether Lee would appeal.
Lee, one of South Korea's richest people, led Samsung for 20 years following the death of his father, the conglomerate's founder. He has faced a series of legal troubles the past two years and was convicted in 2008 on tax evasion charges and given a suspended prison term.
But the Supreme Court in May upheld lower court rulings that cleared him of alleged illegal financial dealings purportedly aimed at passing control of the business empire to his son.
Lee is a South Korean corporate icon who has personified Samsung. He is widely credited with turning Samsung Electronics Co into a respected global brand. But he resigned as chairman of the company, the conglomerate's flagship corporation, upon indictment for tax evasion and other charges in April 2008.
The Seoul High Court was hearing the breach of trust case for a second time after the Supreme Court in May ordered it to reconsider an earlier verdict.
Presiding Judge Kim Chang-suk said that Lee caused damage of 22.7 billion won to the group company, Samsung SDS, over the issuance of bonds with warrants at about half of their market price.
But he cited Lee's "considerable contribution to the development" of the company in handing down the suspended prison sentence.
He also said that Lee had paid back more than the amount of the damage caused to Samsung SDS, which specialises in system integration and other IT services.
Samsung Group comprises dozens of companies. Besides electronics, it has interests in shipbuilding, construction,insurance and leisure. Its companies account for a big slice of South Korea's exports.
Civic groups have dogged the conglomerate for years, claiming its opaque ownership structure based on crossshareholdings by group companies led to abuses and was meant to ensure the Lee family maintains control.
The verdict didn't bother investors.Shares in Samsung Electronics jumped 4.1% to 731,000. Samsung SDS is unlisted.
Lee was also convicted in 1996, along with other conglomerate chiefs, over presidential bribery. That conviction also resulted in a suspended prison sentence.
ISETAN"S CHINA MOVE
Japanese department-store chain Isetan Mitsukoshi Holdings plans to open five new outlets in China by 2014 to bouble its network in the country.
Isetan, which already has five stores in four Chinese cities, is in talks with real-esttefirms and partners to open new outlets in Shanghai and other coastal cities, said the Nikkei business daily.
It plans to open a store in Shanghai as early as 2011, withh about 30,000 square metres in floor space, the Yomiuri said.
In Japan, total department-store sales have declined for 12 straight years.
But Japanese retailers, which also include supermarket and convenience-store operators, have been expanding their China operations in recent years.
Isetan, which already has five stores in four Chinese cities, is in talks with real-esttefirms and partners to open new outlets in Shanghai and other coastal cities, said the Nikkei business daily.
It plans to open a store in Shanghai as early as 2011, withh about 30,000 square metres in floor space, the Yomiuri said.
In Japan, total department-store sales have declined for 12 straight years.
But Japanese retailers, which also include supermarket and convenience-store operators, have been expanding their China operations in recent years.
Gifts for any occasion
Mother's Day has passed but the gift-hunting mission is still on as the gift-giving seasons are not only restricted to birthdays and special days officially marked on the calendar. Every day can be a special occasion for everyone to offer the gift of love - especially when we come across some nice items and feel the urge to buy them for our loved ones.
And now there's a big fair running at CentralWorld where you are guaranteed to find a variety of quality products from many royal projects, including organic produce, processed foods, Thai desserts, handicrafts,wickerwork and home decorative items such as lovely ceramic pieces and glass sculptures.
This is a good chance to build up your own collection of gifts to give to each of the special persons when the time is right. The recommended items here are from the shops under the management of the Royal Project,including Phu Fah Shop, Chulabhorn Research Institute, the Sai Jai Thai Foundation, the Princess Pa Foundation and Bangsai Arts and Crafts Centre.
Not only will you appreciate the distinguished features of the local products and the unique skills of our local folk, you will also find your heart filled with joy while choosing the items for each of the persons in your mind.RT
All items are available during the "Royal Project 40@CentralWorld" which is running at CentralWorld until Aug 16. For more information, call 02-640-7000 ext 1303.
And now there's a big fair running at CentralWorld where you are guaranteed to find a variety of quality products from many royal projects, including organic produce, processed foods, Thai desserts, handicrafts,wickerwork and home decorative items such as lovely ceramic pieces and glass sculptures.
This is a good chance to build up your own collection of gifts to give to each of the special persons when the time is right. The recommended items here are from the shops under the management of the Royal Project,including Phu Fah Shop, Chulabhorn Research Institute, the Sai Jai Thai Foundation, the Princess Pa Foundation and Bangsai Arts and Crafts Centre.
Not only will you appreciate the distinguished features of the local products and the unique skills of our local folk, you will also find your heart filled with joy while choosing the items for each of the persons in your mind.RT
All items are available during the "Royal Project 40@CentralWorld" which is running at CentralWorld until Aug 16. For more information, call 02-640-7000 ext 1303.
Let's hear it for the B-boy
After touring for the B-boy hip-hop dance battle all over the country, Bangkok based B-boy crew Ninety Nine Flava was announced as the winner of this year's "Battle of the Year Thailand 2009".
"We are very happy to win this championship. I think it is our good teamwork and serious rehearsal that helped us succeed today," said Chinnawut Chantarat, a leader of Ninety Nine Flava. His team will have a chance to be a representative for Thailand in the upcoming Asian Championship.
The final round was hosted recently at the 5th floor of Siam Paragon. The cheering of almost a thousand of B-boy fans attracted passers-by to join the exciting event. Fun activities such as a hip-hop girls contest and Popping one-on-one dance show pleased the large crowd.
"We are very happy to win this championship. I think it is our good teamwork and serious rehearsal that helped us succeed today," said Chinnawut Chantarat, a leader of Ninety Nine Flava. His team will have a chance to be a representative for Thailand in the upcoming Asian Championship.
The final round was hosted recently at the 5th floor of Siam Paragon. The cheering of almost a thousand of B-boy fans attracted passers-by to join the exciting event. Fun activities such as a hip-hop girls contest and Popping one-on-one dance show pleased the large crowd.
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