Tesco is to invest in a further five Lotus-anchored shopping malls in Thailand.

“This demonstrates the continued success of Tesco’s strategy to release value from our international property portfolio,” Tesco said.

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The proposal has been approved by the investment committee and will now be put to unitholders at a meeting scheduled for 5 October.

Last month, Tesco, which operates around 1,000 stores in Thailand, announced it is opening three distribution facilities in the country.

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