Siam Makro, Thailand’s cash-and-carry wholesaler operating under CP Group, is focusing on extending its business across South East Asia, according to the Bangkok Post.
Focusing on Myanmar, Vietnam, Cambodia and Laos, Siam Makro is looking to expand its stores in light of the establishment of the Asean Economic Community (AEC) in 2015, integrating the 10-nation bloc into a single market.
Chief executive of Siam Makro, Suchada Ithijarukul, said the company shipped grocery products into Myanmar last week under its Aro brand to test the market, and is conducting viability studies in Cambodia and Laos and Vietnam, according to the Bangkok Post.
The implementation of the AEC would benefit Siam Makro through increased business to its customers in the hotel and restaurant industries, with Makro focusing on expanding its stores in tourist destinations, Suchada told the Thai daily.
In late April, Siam Makro announced a Bt8bn (US$246m) investment to expand its national businesses, opening new stores across the country with a focus on tourist destinations.
At the end of 2013, there were 64 Siam Makro stores and five frozen food stores in Thailand. The company posted a 12.5 per cent rise in sales to Bt35.4bn (US$1.01bn) in the first quarter of this year, with a net profit of Bt1.27bn (US$39m).
