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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Thai CPN joint venture to open mall in China ANN - Monday, February 14 Send IM Story Print Bangkok (The Nation (Thailand)/ANN) - Leading Thai property developer Central Pattana (CPN) will sign a memorandum of understanding with its Chinese partner soon in a joint venture to develop its first overseas mall in Qingdao, Shandong province, eastern China. The new shopping mall will be developed by a newly established jointventure company, namely CPN Global, and will be officially opened within the next two years. CPN itself will hold about 49 per cent in the overseas joint venture, while the other 51 per cent is owned by its Chinese partner. An executive of a fashionapparel firm said CPN executives had recently informed more than 100 retail tenants in the fashion, food and informationtechnology businesses about its plan to open its first shopping mall in China. The plan comes after the company spent a few years on a feasibility study, which showed that China has the highest market potential with its fastgrow?ing economy and surge of consumer purchasing power. "Its interest in Qingdao is based on the city's promising market potential, as it is located on the coast in the eastern part of China," the source said. "Qingdao is a strategic city of China, situated on a big seaport and a centre of transport. The city attracts many foreign travellers every year but has few foreign retail stores." The source added that Qingdao would be ranked on the same level as other major cities such as Shanghai and Beijing in the near future. Tos Chirathivat, chief executive of Central Retail Corporation, said the company would this year open Zen and Central department stores in Shenyang, Liaoning province, in northeastern China in the third quarter the year. The first Central Department Store in that country was opened in Hangzhou, southwest of Shanghai in Zhejiang province, last May. Recommend Send IM Story Print Related Articles Bangladeshi govt on food alert ANN - Monday, February 14 PAD defies police order to clear out of roads ANN - Monday, February 14 Opinion: Shameful days ANN - Monday, February 14 FBR collects $9 b in 7 months ANN - Monday, February 14 Displaced villagers at Thai border return home ANN - Monday, February 14 News Search Top Stories EU, IMF seek to repair Greek rift over asset sale EU, IMF 'regret' Greek furore over asset sale call Swiss vote to keep army guns at home Russia's VTB bank sale to reap $3.25 billion: report Airlift rescues abandoned LA chihuahuas More Top Stories » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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