FAQ

  • CPN Stock Information
  • CPN Business Information
  • CPNREIT Information
  • CPNCG Information
  • On what stock exchange is CPN traded and what is the stock symbol?
  • CPN stock is traded on the Stock Exchange of Thailand (SET) since March 1995 and the symbol is "CPN".
  • How many shares outstanding?
  • There are 4,488,000,000 shares outstanding. For more information regarding CPN shares, please visit "Stock Info" on the Investor Relation menu.
  • What is the percentage of free float?
  • Approximately 47%
  • Who are the major shareholders?
  • Chirathivat family directly and indirectly through Central Group holds about 53%.
  • What is CPN's dividend policy and what are historical payment and payment dates?
  • For more information regarding Dividend Information, please visit "Dividend Info" on the Investor Relation menu.
  • How many properties does CPN own?
  • Currently, CPN manages 32 shopping centers, 7 office towers, and 1 residential property and owns 2 hotel properties, the management of which are outsourced.

    However, 5 shopping centers and 2 office towers were sold to the real estate investment trust (REIT) under the name CPNREIT (CPN Retail Growth Leasehold REIT) in which CPN holds approximately 27% and 1 office tower were sold to CPNCG (CPN Commercial Growth Leasehold Property Fund) in which CPN holds 25%. Both the REIT and the property fund are listed in the Stock Exchange of Thailand. CPN still acts as the property manager of those assets divested to the property funds.
  • How much leasable space is under CPN's management?
  • CPN manages approximately 1.7 million sqm of retail space, 170,000 sqm of office space, 561 hotels’ rooms, and 11 units of residential. For more information regarding each property, please visit "Properties" on the main menu.
  • What is the average occupancy of CPN's portfolio?
  • The average occupancy rate for retail malls approximately 91%. Average occupancy rate for CPN’s offices stands over 94%.
  • What types of rental contracts does CPN have for its shopping center tenants?
  • CPN has 2 different rental contracts for its tenants: Short term rental contracts and Long term lease contracts. Short term rental contracts currently make up over 83% of CPN's leasable area. Short term contracts range from 1-3 year period and is in the form of a fixed rate rent or consignment (percentage of sales) with a minimum guarantee. Long term lease contracts make up about 17% of leasable area. The lease period has a maximum tenor of 20 years. CPN collects an upfront payment from the tenant however recognizes revenue throughout contract period on a straight-line basis.
  • What is CPN's growth strategy?
    • Develop high quality shopping centers across Thailand retail real estate spectrum
    • Acquire high quality properties within Thailand
    • Enhance profitability of our existing portfolio
    • Retain and extend shopping customers
    • Develop new retail tenants
  • What are the brands from which CPN operates?
  • CPN currently operates 3 brands:
    • CentralWorld
    • CentralPlaza
    • CentralFestival

    For more information, please visit "Brands" on the About CPN menu.

  • What projects does CPN have in its pipeline?
  • CPN has set a 5-year (2018-2022) growth strategy that aims to achieve a compounded annual growth rate (CAGR) in revenue of at least 13% per year. The strategic direction to expand the business through mixed-use development, such as new shopping malls, enhancement of existing shopping malls, rental rate escalations, incremental gains from operations management, and residential project development, are key drivers to realize the target.

    As the economy begin to flourish across various areas around Bangkok and provinces, CPN have studied the prospects of new retail formats and innovative concepts and designs of shopping malls to elevate the standard of its shopping malls that offer dynamic experiences towards customers with different lifestyles, both local and foreign tourists.

    Furthermore, CPN studied the opportunities to expand its business into the Southeast Asian countries, especially those with high growth potential, such as Malaysia, Vietnam and Indonesia, to accommodate its sustainable growth aspiration.

    Retail Property Development

    Domestic Expansion
    CPN currently has 1 new shopping mall under construction, namely CentralPhuket, which is expected to open by the 3Q18. Apart from the expansion plan, CPN continues to focus on enhancing the value of existing assets throughout the year, namely CentralWorld, which is ongoing and expected to be completed by 3Q18, CentralPlaza Chiangrai, CentralPlaza Chonburi, CentralFestival Phuket, CentralFestival Pattaya Beach and CentralPlaza Lardprao.

    Overseas Expansion
    At this stage, CPN has participated in Malaysia’s Central i-City project as its pioneering shopping complex abroad, since CPN envisions retail commerce there to be blessed with opportunities and growth potential. This project is developed by the joint venture, in which CPN through subsidiaries holds a sixty-percent (60%) stake and I-R&D Sdn. Bhd. (“IRD”), an I-Berhad wholly-owned subsidiary, holds a forty-percent (40%) stake. The investment was a RM 830 mn (or approximately THB 8,300 mn). This project is under construction and scheduled to launch in 1Q18. CPN has secured key anchor tenants including department store, supermarket, and cinema. Retail tenants are now under negotiation.

    Residential Property Development
    CPN recognized the potential of our mixed-use development of shopping mall complex projects. The company plans to utilize our existing vacant plots of land adjacent to existing shopping malls to add value to our core business. CPN plans to launch about three new residential projects per year.

    The 3 condominium projects launched in 2016, namely ESCENT Chiangmai, ESCENT Khonkaen and ESCENT Rayong, all of which have been sold out, is in the process of construction, interior and exterior designs. These units will be transferred and recognized as revenue during the first half of 2018 for an approximated value of THB 1,200 mn.

    In 2017, CPN announced the pre-sales of 3 new condominium projects on the same area as its shopping malls in Nakhon Ratchasima, Chiangrai and Chiangmai (phase 2). The project at Nakhon Ratchasima was exceptionally popular with all units sold out. Demand for the other 2 projects is strong with the pre-sale progress currently at 85-95%. Construction of the projects have begun and expected to be completed and ready for transfer by the second half of 2019.
  • What is CPNREIT?
  • CPN Retail Growth Leasehold REIT or CPNREIT is an investment trust listed on the Stock Exchange of Thailand on December 1, 2017 following the conversion of CPN Retail Growth Leasehold Property Fund or CPNRF and the transfer of four shopping centers, namely CentralPlaza Rama 2, CentralPlaza Rama 3, CentralPlaza Pinklao, and CentralPlaza Chiangmai Airport, together with two office towers including Pinklao Tower A and Pinklao Tower B. In addition, two properties were acquired from CPN upon the REIT establishment, namely CentralFestival Pattaya Beach and Hilton Pattaya. The first trading day for CPNREIT was on December 14, 2017.
  • What Percentage holding does CPN have in CPNREIT?
  • CPN has approximately 27% holding in the REIT.
  • Who are the managers of the REIT?
    • CPN is the REIT manager through its subsidiary, CPN REIT Management Co., Ltd., as well as the property manager for the assets under CPNREIT.
    • SCB Asset Management Company Limited (SCBAM) is the trustee for the REIT.
  • What Fees does CPN receive from CPNREIT?
    • REIT management fee: At the rate not exceeding 1% of total asset value not less than THB 15 mn in 2018, with an increase of 3% per year.
    • Property management fee: At the rate not exceeding 3% of the net rental and service income.
    • Leasing commission: 0.5 - 1.5 months based on rental rate of particular tenants and depending on leasing type and term.
    • Base fee: At the rate not exceeding 0.28% of appraisal value of investment properties per the reported NAV endorsed by the Trustee and computed on the last working day of each month. The value excludes investment in hotels.
    • Incentive fee: At the rate of not exceeding 2.35% of the net property income.
    • Purchase and sale of property: At the rate of 1.50% of the asset's acquisition value and 0.75% of asset's disposal value.
  • • How can I find out more information on CPNREIT?
  • Please visit: http://www.cpnreit.com
    or please contact:
    REIT Manager:
    CPN REIT Management Company Limited
    Phone : +66 (0) 2667 5555 Ext. 1660
    Fax : +66 (0) 2264 5593
    Website : www.cpnreit.com
    Email : ir_cpnreit@cpn.co.th

    Trustee:
    SCB Asset Management Company Limited
    Phone : +66 (0) 2777 7777 press 0, and press 6
    Fax : +66 (0) 2949 1505
    Website : www.scbam.com
    Email : customerservice.scbam@scb.co.th

    Property Manager:
    Central Pattana Public Company Limited
    Phone :+66 (0) 2667 5555 Ext. 1614, 1688
    Fax : +66 (0) 2264 5593
    Website : www.cpn.co.th
    Email : ir@cpn.co.th
  • What is CPNCG?
  • CPNCG or CPN Commercial Growth Leasehold Property Fund is a property fund listed on the Stock Exchange of Thailand since 2012. It owns a grade A office tower named The Offices at CentralWorld located in CBD area in Bangkok.
  • What Percentage holding does CPN have in CPNCG property fund?
  • CPN has approximately 25% holding in the fund.
  • Who are the managers of the Fund?
    • CPN is the property manager.
    • SCB Asset Management Company Limited (SCBAM) is the fund manager.
  • What Fees does CPN receive from CPNCG?
    • Property management fee: At the rate not exceeding 2% of the net rental and service income.
    • Leasing commission: 0.5 - 1.5 months based on rental rate of particular tenants and depending on leasing type and term.
    • Base fee: At the rate not exceeding 0.23% of net asset value of the fund calculated as at the last business day of each month.
    • Incentive fee: At the rate of not exceeding 2% of the net property income.
    • Purchase and sale of property: At the rate of 1.50% of the asset's acquisition value and 0.75% of asset's disposal value.
    • Development fee: At the rate of 2% of the development cost
  • How can I find out more information on CPNCG?
  • Please visit: http://www.cpncg.com or please contact:
    Fund Manager
    SCBAsset Management Company Limited
    Phone : +66 (0) 2777 7777 press 0, and press 6
    Fax : +66 (0) 2949 1505
    Website : www.scbam.com
    Email : customerservice.scbam@scb.co.th

    Property Manager
    Central Pattana Public Company Limited
    Phone : +66 (0) 2667 5555 Ext. 1614, 1688
    Fax : +66 (0) 2264 5593
    Website : www.cpn.co.th
    Email : ir@cpn.co.th