Central Group yesterday reaffirmed its interest in participating in the bid for Carrefour’s local operations against rivals like Casino (owner of Big C Supercentre) and Berli Jucker (BJC).
Carrefour operates about 43 hypermarkets in Thailand but plans to discontinue its operations here and elsewhere in the region.

Suthichai Chirathivat, executive chairman of Central Group, said in his first media interview on the issue that the group had allocated a “special extra budget” for the acquisition, which would be in addition to normal investment for retail expansion, set at about Bt16 billion this year.

View original here:

Central Group eyes Carrefour as CentralWorld reopens

The political unrest in the last quarter of 2009 will continue to dampen tourist confidence into at least the first half of 2010. In addition, the slowdown in growth of the economies from which a large number of tourists come to Thailand, such as EU and Japan, will reduce tourist receipts next year.

Carrefour Thailand retail
Central group has allocated a "special extra budget" for the acquisition of Carrefour

Because part of the government’s capital budget has been moved off-budget as part of the stimulus package, some additional capital expenditures, as well as the maintenance expenditures of the newly-built infrastructure, must be incorporated into future budgets once the stimulus package is finalized.

Thailand should take the opportunity during the next few years to strengthen its productivity and competitiveness so that when demand resumes, Thailand will be in a position to jump the band wagon of global recovery. To do so requires serious efforts of all stakeholders in Thailand including the government, private sector, and academia. As these improvements take time, for Thailand to achieve them in time for the projected global recovery, the efforts must start right away.

This is consistent with the fact that public investment levels in Thailand have been relatively low with its share in real GDP at only 5-6 percent in recent years. This is because public investment was contracting since the 1998 crisis and only expanded in 2004-2007, before contracting again this year with delays in disbursement and project completion as a result of the sharp rise in construction material prices and political uncertainties.

Suthichai Chirathivat, executive chairman of Central Group, said in his first media interview on the issue that the group had allocated a “special extra budget” for the acquisition, which would be in addition to normal investment for retail expansion, set at about Bt16 billion this year.

Suthichai Chirathivat, executive chairman of Central Group, said in his first media interview on the issue that the group had allocated a “special extra budget” for the acquisition, which would be in addition to normal investment for retail expansion, set at about Bt16 billion this year.

Suthichai Chirathivat, executive chairman of Central Group, said in his first media interview on the issue that the group had allocated a “special extra budget” for the acquisition, which would be in addition to normal investment for retail expansion, set at about Bt16 billion this year.

Suthichai Chirathivat, executive chairman of Central Group, said in his first media interview on the issue that the group had allocated a “special extra budget” for the acquisition, which would be in addition to normal investment for retail expansion, set at about Bt16 billion this year.

Suthichai Chirathivat, executive chairman of Central Group, said in his first media interview on the issue that the group had allocated a “special extra budget” for the acquisition, which would be in addition to normal investment for retail expansion, set at about Bt16 billion this year.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Proposed Amendments to Thailand’s Public Limited Companies Act

The proposed amendments aim to improve the efficiency of and bring consistency to Thailand’s corporate system and procedures that were impacted by the pandemic, as borders were closed and logistics disrupted, leading to the loss in competitiveness for local businesses.

Thai Corporate Earnings to continue Recovering in 2022 says Fitch

The earnings of Fitch-rated Thai corporate issuers should continue to improve in 2022, supported by a recovery in economic activity and a gradual reopening of the country from the pandemic

Thai cabinet approves new minimum daily wages rate table

The Cabinet approved a standard wage rate for workers in three occupational groups that possess a certificate from the Department of Skill Development (DSD).