Central World damage insured, can be repaired

BANGKOK, May 21 (Reuters) - Thai department store operator Central Pattana PCL (CPN.BK) said on Friday it might be able to restore the back of its flagship Bangkok mall in six months but the destroyed front housing the ZEN store would need longer.

Its Central World mall, the second-biggest retail complex in Southeast Asia, suffered huge fire damage after an arson attack on Wednesday when troops disloged anti-government protesters from the surrounding area, which they had occupied since April 3.

"We have Industrial All Risks insurance of 13 billion baht ($400 million) and another $100 million for riot and terrorism," Chief Financial Officer Naris Cheyklin told Reuters.

"ZEN was badly hit but the back bit hasn't been much affected and can be renovated. The cost of rebuilding and renovating everything shouldn't reach 10 billion baht, within the insurance limits," he told TV Channel 9.

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Read full article: http://www.reuters.com/article/idUSSGE64K07A20100521

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