Major Cineplex defends actions against CAWOW
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Major Cineplex Group Plc and four other mall operators - Siam Future Property Co, Siam Future Development Public Co, Petchpinklao Co, and Ratchayothin Realty Co, defended that they have every right to cut the power supply to some of California Wow Xperien
In a joint statement, Major Cineplex said that CAWOW has failed to honour the rental contracts, unable to pay the rents and utilities fees.
The statement was issued as CAWOW, a fitness-club operator, is prepared to file lawsuits, pressuring for damage claims of Bt370 million from the five mall operators, following the power cut-off. CAWOW said that the landlords' actions damaged its business and that of its spa sub-tenant.
Major Cineplex Group, a former large shareholder in CAWOW, has majority ownership of three of the named landlords, and according to the Stock Exchange of Thailand website, also owns 23.32 per cent of a fourth landlord, Siam Future Development.
In the statement, Major Cineplex also said that the five mall operators have paid utilities bills worth over Bt50 million on behalf of CAWOW. As such, actions to limit damage do not violate the laws.
All the mall operators also apologised to CAWOW members for the inconvenience.
At the end of 2011, CAWOW which operated 10 branches had 144,467 members.
