you are right once again!

Central Pattana upbeat on retail sector here



Central Pattana pcl (CPN), Thailand’s largest retail developer, sees Malaysia as its key growth driver in the region as the group plans to leverage on the single Asean market initiative.

CPN, with a cash reserve of nearly four billion baht (about RM406 million) as at end-2012, earns most from businesses in Thailand.

A subsidiary of conglomerate Central Group of Companies, the company plans to replicate Central Group founder Tiang Chirathivat’s success in Thailand here.

CPN chief executive officer (CEO) Kobchai Chirathivat said Malaysia, which is on track to achieve gross domestic product growth of five to six per cent this year, offers a lot of opportunities for the setting up of malls.

“We understand Malaysia has a lot of space for more malls, hence we want to replicate some of our projects in Thailand here. When we build the malls, the concept will be unique in nature,” Kobchai told Business Times in an interview last week.

Central Group is owned by the Chirathivat family, Thailand’s second wealthiest, with a net worth of US$6.9 billion (RM20.8 billion), according to Forbes magazine.

CPN’s plan to venture into Malaysia comes at a time when the company is growing at a rate of 30 per cent a year.

It is understood the company has set aside a war chest of US$324 million a year to build more malls.

It currently holds the biggest share of Bangkok’s retail market, at 24 per cent. It manages 21 malls, seven office buildings, two hotels and two residential towers, all spanning over two million square metres.

Last year, CPN’s revenue stood at 17.69 billion baht, a jump by a third from 12.77 billion baht in 2011.

The company will pour in some cash to help build a 1.5-million sq ft mall at i-City in Shah Alam, in a joint venture with I-Berhad.

The mall is estimated to cost US$200 million and will be partly funded by I-Berhad, the master developer and project owner of i-City.

Tiang, an immigrant from China, started a general merchandise store in 1947 in the Samphanthawong district, Bangkok’s Chinatown.

The store eventually evolved into a giant family-owned corporation with interests in mercantile, real estate, retailing, hospitality and restaurant businesses in Thailand.

- Business Times

looks great =)

what is the operation time of the sales gallery? have show room there?

Wow... peri gor.... u sound like agent already worry me la.

Good and friendly agent must help promote a bit.

No easy to secure business and sales nowaday.

Especially entertaining Tikaram Boss, Not easy yooo

I very very small fish only..

but your comment. Like

This post has been edited by tikaram: May 30 2013, 04:37 PM

Peri Boss,
What do you think of this property ? BBB ?

CPN makes foray into Malaysian retail

Central Pattana Plc, Thailand's leading retail property developer, has entered into a joint-venture agreement with a Malaysian developer to build a 580-million-ringgit (5.73-billion-baht) shopping mall...

Please credit and share this article with others using this link:http://www.bangkokpost.com/breakingnews/349835/cpn-makes-foray-into-malaysian-retail. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.

is this project same as this?
https://forum.lowyat.net/index.php?showtopic=2452452&hl=
please correct me if i m wrong

The Project that you showed was i-SOVO, Small Office Versatile Office.

The i-SOVO are fully sold since last year.

Now Current Launching will be the i- SOHO.

This property price quite steep. It near to 700 per sq feet for the smallest unit. Some more is at Shah Alam

I - City @ Shah Alam declared under International Zone which mean is allowed 24 hours business and entertainment.

For the Smallest Unit , the Price will stated around RM 630 per square feet for the smallest unit.

suitable for people with 70% LTV

Thanks, Peri Boss

Thai firms voices confidence to invest in Malaysia

Kuala Lumpur - Thailand's largest retail developer said that it has confidence to invest in Malaysia, citing the stable political situation and the just-elected government's majority support in Parliament.

Central Pattana Plc CEO Kobchai Chirathivat told local reporter on Monday that Malaysia is politically stable with its economy managed conservatively with stable interest rates for the last 10 years compared to other countries in the region.

Central Pattana signed a joint-venture agreement with Malaysia' s I-Bhd company on Monday. it will incorporate two local subsidiaries - CPN Real Estate Sdn Bhd and CPN Malls Malaysia Sdn Bhd - to hold 60 percent in the joint venture with the remaining 40 percent to be held by i-City Properties Sdn Bhd, a fully-owned subsidiary of I-Bhd, to build a shopping mall in i-City.

Chirativat said business risks are lower here with Malaysian customers' behaviour much more advanced than their Thai counterparts.

He said the project is strategically located and well connected to Kuala Lumpur with several highway networks, and its location near an industrial park provides a pool of potential customers, while strong partners like I-Bhd will pull crowds to the area through its leisure hot spots like City of Lights, Water Theme Park and Snow-Walk.

Chirativat said they really had a strong belief in the economy of Malaysia which is growing at 5 to 6 percent each year.

Sources :

Trading in I-Bhd halted after MoU inked for RM580m mall


KUALA LUMPUR: Trading in I-Bhd was voluntarily halted for an hour from 9am on Tuesday following its announcement about its MoU with a Thai company to build a RM580mil mall in I-City, Shah Alam.

A Bursa Securities circular said trading its company's securities would resume at 10am.

On Monday, both companies had teamed up to build a 1.5 million sq ft mall in I-Bhd's flagship development i-City with a gross development value of RM580mil.

I-Bhd would have a 40% stake via i-City Properties Sdn Bhd (ICP) in the joint venture while CPN would have the remainder stake via two locally incorporated companies CPN Real Estate Sdn Bhd and CPN Malls Malaysia Sdn Bhd. Work starts next year and to be completed by end-2016.

Sources :

I-soho will be more on rental yield or cap appreciation play? Who wil b the target rental group? It comes without carpark n will this (no carpark) affect the rental?

How was the sales so far?

interesting....