By Juliet Shwe Gaung
Telecom International Myanmar Company Limited, the company behind Mytel, is a joint venture between Myanmar government-owned Star High Public Co Ltd, a consortium comprising 11 Myanmar companies, and Vietnamese telecom company Viettel.
MSH seeks to expand its businesses in the education, hospitality and security sectors both organically and by way of acquisitions.
Post the deal, SMI will focus on duty-free and retail businesses in Myanmar.
Myanmar Strategic Holdings Ltd has raised $3.07 million through the issue of new ordinary shares to expand its existing operations.
This will be its second acquisition since its listing on the Singapore exchange in January
The financing will help improve access to microfinance for people in Myanmar so they can start new businesses or invest in farming.
Apart from security services, EXERA also seeks to develop cash management capabilities across Myanmar.
The companies engaged are KoreaLand, Myanmar’s Alliance Star and Shwe Taung Company.
Advans Myanmar, an MFI backed by Luxembourg-headquartered Advans Group, will use the funds to expand its operations.
The French company will hold a majority stake in the venture, while the remaining equity would be split between Yoma Strategic, Delta Capital Myanmar, and Htun Win and Zaw Win (Win Brothers), who are experienced professionals in Myanmar’s alcoholic beverages sector.