CP All

CP All Public Company Limited, was established in 1988 by the Charoen Pokphand Group to operate convenience store businesses in Thailand under the 7-Eleven trademark. The company was granted a license to use the trademark by 7-Eleven, Inc., USA. In 1989, the first 7-Eleven outlet in Thailand was opened on Patpong Road.[4]

CP All Public Company Limited
TypePublic
SET: CPALL
IndustryRetail (Convenience stores)
Founded7 November 1988; 32 years ago[1]:31
FounderCharoen Pokphand Group
Headquarters
Bangkok
,
Thailand
Number of locations
11,000 stores (est 2018)[2]
Area served
Thailand
Key people
Dhanin Chearavanont (Chairman)[3]:14 Korsak Chairasmisak (Chairman of the Executive Committee)[3]:19
Revenue480 billion baht (est 2017)[2]
Number of employees
35,557 (2012)[1]:50
ParentCharoen Pokphand Group[1]:34
SubsidiariesCounter Service Co., Ltd. CP Retailink Co., Ltd. CPRAM Co., Ltd. Thai Smart Card Co., Ltd. Gosoft (Thailand) Co., Ltd. MAM Heart Co., Ltd. Management Co., Ltd. Suksapiwat Company Limited. Panyatara Company Limited. All Training Company Limited. 7-Catalog Book Smile eXta Kudsan
Websitewww.cpall.co.th

History

CP All PLC was established in 1988 by the Charoen Pokphand Group. The company is the sole operator of 7-Eleven convenience stores in Thailand, which has been granted exclusive rights from 7-Eleven, Inc. to conduct business under an area license agreement.

Operations

At the end of 2016, the company had a total of 9,542 7-Eleven stores nationwide. As of 2015, 44 percent of stores were in Bangkok and environs and 56 percent were in provincial areas. 44 percent of stores were company-owned, 48 percent franchise stores and 8 percent sub-area license stores.[5]

In 2017 CP All spent 20 billion baht to open 710 new branches and renovate its existing stores, IT facilities, and open its new distribution centre. Revenues in 2017 are projected to be 480 billion baht.[2]

Executive malfeasance

Insider trading by CP All executives occurred in 2013, according to a statement by Thailand's Securities and Exchange Commission (SEC) on 2 December 2015. Korsak Chairasmisak, the vice chairman of CP All, at that time was its CEO.[6] He bought over 118,000 shares of Siam Makro, a cash-and-carry chain, over a 12-day period ending on 22 April 2013. The following day, CP All announced a tender offer for Siam Makro shares at 15 percent above the 22 April close. The regulator found that Korsak had prior knowledge of the deal and imposed a fine of over 30 million baht (US$833,000).[7] Three executives also involved were fined 3.1 million baht.[8] No criminal charges were brought. CP All's audit committee said they had decided it was "appropriate for the individuals to continue" their employment.[9] As justification, the statement cited their prior behavior and performance and their "exceptional skills and experience, which would be difficult to replace".[10]

References
  1. "CP All Annual Report 2012" (PDF). CP All. Archived from the original (PDF) on 27 December 2015. Retrieved 26 December 2015.
  2. Jitpleecheep, Pitsinee (31 January 2018). "7-Eleven poised to top 11,000 stores in 2018". Bangkok Post. Retrieved 31 January 2018.
  3. "CP All 2014 Annual Report". CP All. Archived from the original on 27 December 2015. Retrieved 26 December 2015.
  4. About 7-Eleven, 7-Eleven.
  5. "AboutUs". CP All. Retrieved 3 April 2017.
  6. Polkuamdee, Nuntawun (4 December 2015). "'I didn't know about Makro deal,' insists CP All chief". Bangkok Post. Retrieved 31 January 2018.
  7. "CP All shares slump after insider trading fines". Bangkok Post. Bloomberg News. 3 December 2015. Retrieved 31 January 2018.
  8. "Settlement Committee imposes fines on MAKRO insider trading". The Securities and Exchange Commission (Thailand). 2015-12-02. Archived from the original on 27 December 2015. Retrieved 26 December 2015.
  9. Chudasri, Darana; Chantanusornsiri, Wichit (9 December 2015). "Pressure on CP All insider trading bosses". Bangkok Post. Retrieved 31 January 2018.
  10. Kawase, Kenji (2015-12-23). "Insider trading: Thailand's old normal". Nikkei Asian Review. Archived from the original on 27 December 2015. Retrieved 26 December 2015.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.