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 […]

Customs issues impact Singapore Myanmar Investco third quarter results

MYANMAR. Singapore Myanmar Investco Limited (SMI) has reported a 16.6% year-on-year decrease in revenue in the third quarter, to US$5.5 million. The company, which manages duty free and food & beverage outlets at Yangon Airport’s international terminal, attributed the decline to reduced retail sales as a result of Myanmar Customs restricting some key duty free […]