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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 […]

Singapore Myanmar Investco calls off Jones The Grocer franchise joint venture

SINGAPORE Myanmar Investco (SMI) has terminated a joint venture meant to procure and launch the Jones The Grocer restaurant chain in Myanmar, the company announced on Thursday before the market opened. SMI, a Myanmar-focused investment and management company, said that the “initial development location”, which was the cornerstone to launching the proposed franchise, was no […]

Yangon stock exchange seeks foreign investor interest

THE Yangon Stock Exchange (YSX) recently had a few champagne moments with the first “real” initial public offering by a Myanmar telecom company. And even while the bubbly was still fizzing another company was eyeing a listing. And, the moment foreign investors had been waiting for is almost here. For a start, foreigners residing in […]

Singapore Myanmar Investco JV partner moves to block TPR Myanmar sale

SINGAPORE (June 21): Singapore Myanmar Investco (SMI) says its joint venture partner Golden Infrastructure Group (GIG) has officially initiated legal action against the group’s sale of TPR Myanmar. To recap, SMI has been engaged in a dispute with GIG since Dec 2016 regarding their joint venture in Myanmar Infrastructure Group (MIG), which is the holding […]

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 […]

Failure to Sell Firm: Singapore Myanmar Investco Responds to SGX Query

SINGAPORE Myanmar Investco (SMI) said it had failed to sell its tower telecommunications business despite “strenuous efforts over many months” to secure approval from the Myanmar Investment Commission (MIC) with relation to tax benefits for the US$12.7 million proposed sale. This, SMI said, were the conditions precedent (CP) that it had not fulfilled in the […]

Japanese Noodle Restaurant Chain Ippudo Comes to Myanmar

The popular Japanese noodle restaurant chain Ippudo is making its debut in Myanmar with a branch in Yangon’s newly opened Junction City Shopping Mall, Kyodo News reported on 13 April. Chikaranomoto Holdings Co, operator of the ramen restaurant chain, held a soft opening on Tuesday ahead of a grand opening in May. The Yangon restaurant […]

Singapore Myanmar Investco warns of impending lawsuit by Golden Infrastructure Group

Singapore Myanmar Investco has received an email from the lawyers of joint venture partner Golden Infrastructure Group (GIG) threatening to file a criminal complaint to Singapore’s State Courts against the company’s directors and management for possible breaches. The complaint relates to SMI’s plans to divest its 97% stake in its telecommunications tower business, Myanmar Infrastructure […]

Meat demand rises in Myanmar

Meat consumption in Myanmar has grown due to an influx of tourists and investment, while a limited manufacturing base presents new opportunities for international suppliers. Almost 90% of Myanmar’s population are Buddhist and almost a third live below the poverty line, factors which have historically kept meat consumption levels low. Also, Myanmar consumers have tended […]

Asia World opens new Yangon airport terminal

Asia World Group has opened the first phase of a new airport terminal in Yangon that will be capable of handing up to 20 million passengers a year when complete, with US fast-food chain Kentucky Fried Chicken the first international restaurant confirmed to open in the new space. Yangon Aerodrome Company Limited (YACL), an Asia […]