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 […]

SMI, Senko’s Myanmar JV Eyes Logistics and Warehousing Services

Singapore-listed Singapore Myanmar Investco Limited (SMI) has entered into a joint venture agreement with Japanese logistics group Senko Co Ltd to provide logistics and warehousing services in Myanmar. The firms will incorporate and operate a Singapore company, SMI-SENKO Logistics Pte Ltd, for this purpose, SMI said in a Singapore Stock Exchange (SGX) filing. According to […]

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 […]

Government Inspects Manufacturing Businesses for Licences

Authorities are inspecting manufacturing businesses to uncover unregistered companies as a spread of unregistered small and medium industries(SMI) throughout Myanmar are thought to be undercutting local industrial production. The Ministry of Industry’s Industrial Supervision unit’s director general U Thein Swe said private industrial businesses are wrong to think registering companies is a time consuming process […]