fbpx

Passenger growth drives +17.7% increase in retail sales at Singapore Myanmar Investco in Q1

Singapore Myanmar Investco Limited (SMI) has reported +6.4% year-on-year revenue growth for the first quarter ended 30 June 2019, to US$5.1 million. The increase was mainly attributable to a +17.7% increase in travel and fashion retail sales, to US$3,938 million, and growth in food & beverage (+56.3% year-on-year) reflecting further outlet expansion. SMI manages duty […]

What to expect from Myanmar’s top five export sectors

Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]

Retail and F&B spurs improved Q2 results for Singapore Myanmar Investco

Investment and management company Singapore Myanmar Investco (SMI) has reported a small pre-tax profit of US$72,000 for the second quarter to 30 September, reversing losses on the back of a strong performance from its duty free and other retail activities. For the same period last year, the group – which seeks to capitalise on consumer […]

Confusion emerges after foreign liquor ban

At a liquor store in downtown Yangon, bottles of whisky and wine are on display. Upon closer inspection, one soon notices that wines from Argentina to New Zealand are for sale, but only whiskies made locally are available. “Foreign liquors are not on display because we are not allowed to sell them,” the sales assistant […]

Retailers hit with liquor import ban

Liquor retailers are no longer allowed to sell imported brands, as it is a violation of Ministry of Commerce regulations. The ministry hasn’t allowed the import of alcohol, beer and cigarettes, except by duty-free shops and a few high-end hotels, since the days of the military government. However, the General Administration Department under the Ministry […]

Singapore Myanmar Investco in share sale agreement to dispose unit for US$10.8m

MAINBOARD-listed Singapore Myanmar Investco (SMI) on Monday announced that its subsidiary, Myanmar Infrastructure Group (MIG), has entered into a US$10.8 million share sale agreement with Tiger Infrastructure for the proposed disposal of its 99.9 per cent-owned indirect subsidiary, TPR Myanmar. TPR, which was incorporated in Myanmar in 2014, is a subsidiary of MIG, and the […]

Singapore Myanmar Investco Limited confirms DFS supply for Yangon Airport T2 contract

Singapore Myanmar Investco Limited (formerly known as ‘Singapore Windsor Holdings Limited’) has formally entered into five-year agreements covering duty free, retail and F&B outlets at Myanmar’s Yangon International Airport Terminal 2. [Yangon International (15km north of downtown Yangon) is the busiest international airport in Myanmar, ahead of the country’s other two main international airports at […]

Singapore Windsor Inks Airport Retail Deal with DFS

Singapore Windsor Holdings Limited announced that it has secured an exclusive 10-year supply and merchandising deal with DFS, a Hong Kong-based luxury travel retailer. According to the agreement, in addition to a duty-free store at Naypyitaw International Airport, the group will open additional duty-free outlets at the existing departure and arrival terminal of Yangon International […]