IKEA, the world’s largest furniture retailer, has major plans to expand across Southeast Asia, including Thailand, Vietnam, Malaysia and Singapore.

After opening its first pick-up and ordering point (PUP) in Asia in November in Phuket Thailand, the Swedish furniture retailer has its goal set on having three large-format stores in Bangkok and five to six PUPs nationwide within five years.

With IKEA’s expansion across Southeast Asia moving at a steady pace, the retailer has established a new corporate treasury centre in Singapore early last year with the goal of building extensive relationships with banks across the region, building onto its connections with suppliers and ensuring that its cash is handled in a proper fashion.