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.

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.