Central World, Southeast Asia's second-largest shopping complex, which was badly damaged during anti-government protests in Bangkok in May, should be back in business again by November, its owner said on Tuesday.The reopening would help push the revenue of owner Central Pattana up at least 10% this year, meaning it could still achieve its 14-15% target, president Kobchai Chirathivat told reporters."The first phase of the reopening, which covers around 80% of the complex, will start in late September to early October and it will be fully open in November," Kobchai said.However, ZEN, the trendy store at the front of the complex, which was completely destroyed, is not expected to reopen until the middle of 2011, he added.Central World, a 186,000 square metre (2 million sq ft) mall on eight floors, was set ablaze on May 19 following a military crackdown on anti-government protesters who had shut down Bangkok's central shopping district from early April.It is Central Pattana's flagship mall, contributing about 20% of revenue in 2009.The company is to spend 2.8 billion baht ($88 million) to repair and renovate Central World, excluding ZEN. It would receive a total of 3 billion baht from insurers, Kobchai said.Central Pattana has said it had $100 million of insurance cover for terrorism and riots, plus standard industrial cover of 13 billion baht ($400 million), including business interruption insurance.Its next biggest branch in Ladprao, Bangkok, generates 16% of revenue.

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Central Pattana said it would spend 3.6 billion baht to renovate this branch over six months from next February. It had delayed the renovation because of the closure of Central World.Due to the lengthy absence of revenue from Central World, three analysts forecast the company would post a 54% fall in second-quarter net profit to 273 million baht. Its results are due to be released by the end of next week.Kobchai said revenue would be also helped by an increase in rental fees, which are expected to go up by more than 5% at some malls later this year.Central World is one of 15 shopping malls operated by Central Pattana, the retail property arm of unlisted Central Group, Thailand's largest retail group controlled by the Chirathivat family.Central Pattana stock was down 1.6% at 24.40 baht at the midsession break, when the main index was 0.97% lower.