CPN aims to grow its business with sustainability and with comprehensive target achievement. The company, therefore, does not only aim for short-term success, but envisages a long-standing and sustainable business. In addition to business growth, CPN recognizes the raising of standards of living in communities and society around its operating areas. CPN has now merged its standpoints on sustainability, based on CG principles, environmental concerns, and relationships with stakeholders into its business plans and strategies. Material sustainability issues and business risks are also analyzed in parallel with the formulation of business strategies. This naturally prompts CPN to carry out regular reviews of its business plans.
Strategy for Shopping Mall Expansion and Development Innovation
CPN generates growth by expanding new shopping malls, adding economic value to existing malls, and focusing on expanding its customer base to cover Bangkok and vicinity, including major economic cities in provincial areas with potential. To this end, CPN develops mall formats and proper merchandising mixes, applies innovation in design and decoration, and introduces new services to create special and unique experiences to correspond customer needs. CPN determined strategies to expand the business into mixed use development by developing residential projects on the compound of CPN’s existing malls, hence creating added value to the land by leveraging on the potential of existing malls, at the same time, the residential projects will create additional customer bases for the shopping malls.
Strategy for International Business
Besides domestic growth, CPN formulates strategies to expand its business to new markets. It has studied additional investment opportunities in Southeast Asian countries that enjoy stable growth and a high investment volume, with a focus on Malaysia, Indonesia, and Vietnam. CPN received data, personnel, and other support from Central Group, which has investment in these countries, enabling CPN to analyze and develop overseas projects more efficiently. The strategies of overseas investment not only support CPN’s growth target, but also diversify the business base by avoiding its sole dependence on the domestic business.
Strategy for Operational and Service Excellence
CPN focuses on mall management excellence to create competitive advantages. It analyzes information taken from tenants’ and customers’ remarks in parallel with studying innovation to continuously improve the services and raise the standards of its shopping malls. CPN offers the following diverse unique experiences that satisfy tenants and customers, Thais and foreigners alike:
Unique Selling Point - CPN strives to strengthen its unique selling point in comprehensive merchandising mix, searches for new retail domestic and international brands and holds signature events and activities, in which tenants and communities are welcome to take part. CPN focuses on serving the lifestyles of target customers and increasing quality in every communication channel.
Integrated, convenient and safe one-stop services for all target segments – CPN manages its malls with due regard for environmental friendliness and care for climate change. CPN applies environmentally friendly technologies, reduces both direct and indirect GHG emissions, and values efficient use of public utilities in shopping malls with the application of international utility benchmarking standards.
Strategy for Flexible Funding
CPN arranges for diverse funding sources to increase flexibility in its operations. In addition to CPN’s internal funds, it seeks funding from other sources, including establishment of property fund, loans, and issuance of debentures and public offering for domestic mall expansion. CPN also studied the establishment of a trust fund for investment in Real-Estate Investment Trust (REIT). A large variety of sources of fund enables CPN to efficiently manage its business costs while having a balanced financial ratio. The Company therefore has flexibility in seeking funds for business expansion and can be well-prepared for new investment opportunities, which always adds value to the business. CPN, in this regard, has in place policies on risk management and financial management that strictly regulate its funding.
Strategy for Stakeholder Engagement
CPN deeply cares for and respond responsibly to all stakeholders, ready to listen to their feedback to develop a sustainable business under good corporate governance, with the following framework to serve each stakeholder:
- Co-creating opportunities and success with tenants
- Adhering to the customer-centric approach
- Working professionally and fostering pride among employees as part of organization
- Developing into center for communities
- Managing climate change and environmental impacts
- Expanding businesses with suppliers and being socially responsible
- Being a credible and trustworthy organization.