“Central” with 3 Fire Incidents in 24 Years, Share Price Plunges at an Average of 5%

“Central” with 3 Fire Incident in 24 Years, Share Price Plunges at an Average of 5%


The reporter stated that yesterday at 17:40, fumes occurred at the smoke ventilation area on the 8th floor at the CentralWorld shopping mall (CTW) which operated by Central Pattana Public Company Limited (CPN). The fire incident yesterday was the third time in 24 years under the operation of CPN.

 

The first incident occurred on Friday, November 24, 1995 at Central Chitlom Department Store for 20-hour long before the fire could be extinguished. There were 11 injuries and 4 casualties with the damage of THB 1,535 million in value.

The incident had caused the plummet of CPN’s share price by 2.2% to ฿2.24/share on the date of the incident, but rebounded to ฿2.27/share on the next trading day.

 

The second incident occurred on Wednesday, May 19, 2010, during the demonstration which led to a disperse by the military. In a short while, riots occurred around Bangkok, including the arson at Central World that burned for 10 hours and caused damage the stores inside. After the incident, CPN had to provide compensation to the damaged store and booked for reparation as well. Later, the company was able to claim THB 3,500 million from insurance.

As a result, the share price of CPN, which was on hold during the incident from May 20-23, 2019, plunged 8.8% to ฿9.30/share on May 24, 2010, the first day that CPN returned to the market when the closing price on May 19, 2010, was ฿10.20/share. Consequently, the share continued to plunge to ฿9.10/share before being able to rebound to 10.25/share on July 19, 2015.

 

The plummet from the past two fire incident of CPN had caused the price to slip at an average of 5%.

 

CPN closed the morning session of April 11, 2019, at ฿74.25/share, dipped ฿0.25/share or 0.34% with a trading value of THB 426 million. The highest of the session was ฿74.25/share and the lowest was ฿73.25/share.

CENTEL closed the morning session of April 11, 2019, at ฿43.50/share, dipped ฿0.25/share or 0.57% with a trading value of THB 201 million. The highest of the session was ฿43.75/share and the lowest was ฿42.75/share.

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