List of Cpn Shopping Malls
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Central Pattana Public Company Limited Location 10th, 30th – 34th Floor, The Offices at CentralWorld, 999/9 Rama I Road, Patumwan Sub-District, Patumwan District, Bangkok 10330, Thailand Telephone + 66 (0) 2667 5555 Corporate Website www.cpn.co.th Registration No 0107537002443 Year of Establishment 1980 Business Overview Develop and invest in retail property for rent comprising large-scale shopping complexes and other related and supportive businesses, such as office buildings, hotels, residential devel ANNUAL REPORT 2018 opment and food court. In addition, the Company invests in and is the property manager of CPN Commercial Growth Leasehold Property Fund (CPNCG) and CPN Retail Growth Leasehold REIT (CPNREIT). Securities Information Common shares of Central Pattana Plc. were listed and traded on the Stock Exchange of Thailand in 1995 under the abbreviated security name of “CPN”. Registered Capital Baht 2,244,000,000 Issued and Paid-up Baht 2,244,000,000 comprising ordinary shares of Capital 4,488,000,000 shares Par value of Baht 0.5 per share Contacts Company Secretary Telephone: + 66 (0) 2667 5555 Ext. 1665, 1684, 1685, 1686 and 1687 Email: [email protected] Investor Relations Telephone: + 66 (0) 2667 5555 Ext. 1614, 1632 and 1689 Email: [email protected] Investors can obtain further information regarding the Company from the Annual Registration Statement (Form 56-1) which has been disclosed at www.sec.or.th or www.cpn.co.th ANNUAL REPORT 2018 S U S T A I N A B L E FUTURE CONTENTS P.12 P.14 P.16 P.20 P.24 Chapter 01 Chapter 02 Chapter 03 Chapter 04 Chapter 05 Vision and Mission Corporate Values Financial Highlights Message from the Report of the Audit Board of Directors Committee P.34 P.36 P.40 P.46 P.64 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 Milestone Awards of Economic and Nature of Business Investment Structure Development in 2018 Great Pride Industry Overview P.148 P.150 P.164 P.184 P.186 Chapter 21 Chapter 22 Chapter 23 Chapter 24 Chapter 25 Organization Chart Management Corporate Nomination of Remuneration of Structure Governance Directors and Directors and Management Management P.226 P.228 P.238 P.241 P.245 Chapter 31 Chapter 32 Chapter 33 Chapter 34 Chapter 35 List of Committee in Summary of List of CPN Information for Summary of Subsidiaries Associate Companies Shopping Malls Investors and Specified Items per with CPN Ownership Reference Persons Form 56-2 of 10% or More P.26 P.28 P.30 P.32 P.33 Chapter 06 Chapter 07 Chapter 08 Chapter 09 Chapter 10 Report of the Report of the Risk Report of the Corporate Board of Directors Executive Nomination and Policy Committee Governance and Sustainable Management Remuneration Development Committee Committee P.66 P.67 P.80 P.86 P.100 Chapter 16 Chapter 17 Chapter 18 Chapter 19 Chapter 20 Revenue Structure Sustainability Risk Factors Management and Sustainability Management Discussion Analysis Performance P.190 P.194 P.198 P.206 P.207 Chapter 26 Chapter 27 Chapter 28 Chapter 29 Chapter 30 Capital Structure and Internal Control Connected Legal Dispute Board and Dividend Policy Transactions Management Profile P.246 P.248 Chapter 36 Chapter 37 External Assurance GRI Index and Statement UNGC Principles (Sustainability Index) SUSTAINABLE FUTURE As “The Most Admired and Dynamic Regional Retail Property Developer with World-Class Rewarding Experience”, CPN advances towards “growing a sustainable future”, the ultimate goal through the aspiration of becoming the “Center of Life and Communities”, the core strategy to concretely develop and strengthen the growth of retail properties by providing unique and fulfilling experiences not replicable through online. Together with the development in the three pillars of sustainability: the economy, the society and the environment, CPN adheres to create shared valued for the business, stakeholders and environment. “To be the eye-catching retail property developer with leadership potential in the “To be the most admired retail region.” property developer that delivers “To be the retail property unique and rewarding value developer entrusted by “To be the retail property developer beyond expectations.” customers, above competitors that tenaciously delivers innovative in all areas of operations, to retail formats with new and dynamic provide wondrous shopping range of shops to correspond with experience.” the contemporary and fast-changing lifestyles of target customers.” SUSTAINABLE BUSINESS Having recognized the fast emergence of new business models that arise from digital technology development, CPN prepares to modernize its organization through the three pillars of sustainability, namely the economy, society and environment. Through the objective of “Becoming the center of customers’ needs”, the retail properties have evolved into safe and convenient destinations to shop, play, learn, work and live, suitable to customers of all generations. Ensure the new to fulfill the customers’ desires. and “TRIBHUM: The Mystic of Three Worlds”, the Currently, CPN operates the retail property and real first 3D walkthrough theme park in the world, at estate development primarily in shopping centers, Central Phuket Floresta, as well as a joint agreement office buildings, hotels and residences. Furthermore, with Common Ground Group to further integrate CPN continues to expand and diversify into new the shopping centers and office buildings in the future. businesses both domestically and internationally, as well as enhance the potential of strong-performing Embrace new technologies and digital platforms existing retail properties exemplified through the to assist the conveniences of customers and tenants, makeover of CentralWorld as a global lifestyle such as cashless payment channel through QR code destination and the implementation of destination to process the purchases quickly and conveniently. concepts that address the local communities’ Moreover, a new communication channel with lifestyles, such as Sport Destination at CentralPlaza customers through the LINE official account under Nakhon Ratchasima for the sports and health the name @central Life was introduced and the communities, and Pet Destination at CentralFestival “CPN Serve” application was developed for tenants EastVille for the pet-loving communities. to contact the Company for assistance more easily and conveniently, as well as elevate the quality of Collaborate with strategic business partners from existing services to a new level, such as providing diversified expertise to create new attractions, park-and-charge stations for electric vehicles (EV). such as “Aquaria”, a contemporary aquarium format, SHARE SUSTAINABLE STAKEHOLDERS In the context of a changing world, CPN not economy but also creates opportunities for only seeks to fulfil customer satisfaction but new potential tenants, which result in having also co-create shared values with “business more dynamic products and services at CPN’s stakeholders and society”, which includes shopping centers. In addition, CPN engages customers, tenants, employees, business with local communities by incorporating partners, shareholders, financial institutions, distinguished cultures, customs and goods society, communities and the environment. found only in those communities and provinces As the stakeholders are integral to creating into the project design in a contemporary and a strong and sustainable organization, unique locale representation, as exemplified CPN emphasizes on the importance on in the architectural design of Central Phuket communication and participation with the Floresta, inspired by a combination of fishery “business stakeholders and society” in a and textile traditions with Sino-Portuguese comprehensive and timely manner, such as architecture. CPN also supports the government through the online social media sources, offices and education centers by providing namely Facebook, Instagram, YouTube and venues for events and exhibitions, both in LINE. Furthermore, to support the business Bangkok and the provinces, as well as creating management strategy, CPNlead, a development innovative marketing campaigns jointly with program for new-generation businesses, has business partners, develop the local community been reiterated to strengthen the capabilities economy, and enhance employee capabilities of local small-medium enterprises (SMEs) to to steer the organization towards becoming capitalize on business growth and expansion, an “innovative organization” and “employer together with the Company. The program not of choice”. only supports the civil state policy and the SUSTAINABLE RESOURCES Having recognized the impact of business and effective use of natural resources, such as operations to the environment, CPN sets the promote green area through plantations direction on operating a sustainable business at the Central Phuket Floresta not only to filter based on effective use of resources through dusts at the vicinity but also to provide a the principles of 4Rs: Reduce, Reuse, Recycle peaceful ambience for the building, roads and Responsible. The principles are applied and the surrounding communities. The sheer to all projects under CPN, which resulted in determination to consistently deliver initiatives positive impact to the economy, society based on these principles was among the and the environment. More importantly, factors for CPN to be the first and only Thai CPN determines a long-term objective for real estate developer selected to the Dow sustainable environment development to Jones Sustainability Indices (DJSI) in