Thai billionaire's firm plans to tap large population in China and India

Thailand's billionaire business tycoons have stepped up acquisitions and investments abroad as an ageing population and increased competition dim the long-term domestic growth outlook

Thai billionaire Dhanin Chearavanont’s retail subsidiary CP All Pcl is considering an expansion of wholesale operations in China and India to tap the might of consumers in the world’s most-populous nations.

CP All’s Chief Financial Officer Kriengchai Boonpoapichart said the firm’s cash-and-carry unit Siam Makro Pcl is studying opportunities in the two countries, as well as the possibility of setting up a store in Myanmar, having already opened an outlet in Cambodia.

"Siam Makro is on a new journey of expanding in overseas markets,” Kriengchai said in an interview at his Bangkok office on Wednesday. “It will be a tough