Cash and carry operator Siam Makro plans to expand in Thailand, despite the political turmoil.
The company will invest 5 billion baht ($154.5 million) to open 10 new Makro stores.
“We are not worried about the cash and carry business. The evidence is clear that our business is still growing, with almost 12 per cent growth in the first quarter,” said CEO Suchada Ithijarukul.
She said most of the new stores are planned for upcountry, where demand for FMCG products is booming and availability of land is not a constraint.
It also plans expanding to markets including Laos, Vietnam, Cambodia and Myanmar.
Siam Makro is owned by Thai convenience store operator CP All, which bought it for $6.6 billion last year.