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Cosco partners with Siam Group for home depot business

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Cosco Capital, Inc., the retail holding firm of businessman Lucio Co, is venturing into the construction and home depot business through a P500 million partnership with Siam Global House Public Company Limited of Thailand.

In a disclosure to the Philippine Stock Exchange, Cosco said it has signed a Joint Venture Agreement with Siam Global House Public to operate a one-stop warehouse for building and construction-related materials, home and garden decorative goods, home improvement goods, construction equipment, and tools.Siam Global House Public Company Limited is based in Thailand, with 76 stores selling building materials and home decorative products.

The joint venture is looking to finalize, construct and open 3 to 5 stores in the next 12 to 18 months in the National Capital Region, CALABARZON and Region 3. The firm said its consolidated revenues amounted to P40.68 billion in the first quarter of 2022, up 2.8 percent from P39.57 billion in the same period of 2021.

 

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