Siam Global House looks abroad

"We haven't decided what our format should be," said CEO Witoon Suriyawanakul, adding that the company might seek partners in neighbouring countries to set up joint ventures.

"The annual sales growth of 25 per cent posted by Global House is attractive to investors there," he said, mentioning Indonesia in particular.

The company is in the process of listing on the Stock Exchange of Thailand. It expects to make a Bt260-million initial public offering this month after delaying listing last year because of market volatility and political uncertainty.

Witoon said it was now ready to list, as it believes the political turbulence is over with a new government in power.

"Expansion overseas is the way we want to go, but we will have to be cautious with the economic downturn," he said. The domestic market will be covered first, and overseas expansion should start in the next few years.

Siam Global House targets revenue growth of 20-25 per cent this year from Bt4 billion in 2008.

Despite the downturn, the company is keeping to its Bt1.1-billion investment plan to open three new outlets in the provinces, two of them in Ratchaburi and Kalasin.

At present, Siam Global House has seven outlets nationwide.