The Central Group, Thailand’s largest retailer, will revise its medium-term investment and business plans after suffering devastating losses at its flagship CentralWorld mall earlier this month.
The Zen Department Store was destroyed and the main mall damaged in the riots that broke out nationwide on May 19 in clashes between red-shirt protesters and security forces.
Prin Chirathivat, the Central Group's executive director for finance, said the group would revise its 16-billion-baht investment plans for the year in the wake of the riots.
He said following a visit to CentralWorld yesterday that a final tally on the losses suffered by the group had yet to be made, nor was it known how much compensation would be paid by insurers.
via Central to review investment plan.