Singapore-based MDR Limited, an after-market service provider for mobile phones and consumer electronics products, has started a large format digital inkjet printing business in Myanmar.
Together with its Malaysia-based wholly-owned subsidiary, Pixio Sdn Bhd, it has set up a new entity called Pixio Myanmar Co Ltd in Yangon, according to a stock exchange filing at Singapore Stock Exchange.
The firm said Pixio Myanmar will engage in the business of providing graphic design solutions and large format digital inkjet production for advertisements and promotional signage for the retail and out-of- home promotions and advertising in Myanmar.
MDR first entered the Myanmar market in 2013, together with its business partner, the Golden Myanmar Group, to engage in the sale and after-market service of Nokia products, and subsequently expanded into the distribution of Ooredoo prepaid cards.
Philip Eng, MDR’s Chairman, said, “We have gained a fair bit of knowledge and experience of the Myanmar market in the last couple of years. Therefore, it is a natural progression for us to further expand our roots in Myanmar.
“With Pixio’s expertise in large format digital inkjet printing and the potential of the growing consumer market in Myanmar, we are optimistic about this new business venture.”
The company said revenue from its Myanmar operations grew from a modest S$0.15 million ($112,519) in FY2013 to S$11.4 million ($8.55 million) in FY2014.
Pixio Myanmar’s Managing Director Robert Wong said the company sees many new opportunities in Myanmar. With a population of over 50 million people, the middle and affluent class is set to double in size to about 10 million in Myanmar by 2020.
“Similar to the other developing nations, the traditional advertising mediums in Myanmar are fragmented. As such, out-of-home, retail point-of-sale, and poster advertising will be the best mediums for brands and businesses to reach out to their consumers en masse.
“Many big international brands have entered Myanmar creating a demand for high quality signage and billboards which presently have to be produced offshore and imported into Myanmar. Pixio Myanmar will fill this gap for large format and quality advertising signage and billboards.”
Source: Myanmar Business Today