Myanmar: Shwe Taung partners Keppel for $300m project; Tan Chong Motors to to set up $50m assembly

From the Keppel Land website

In news of fresh investment plans in Myanmar, a mixed-use $300-million real estate project is underway with Shwe Taung Goup partnering Singapore’s Keppel Land. Meanwhile Malaysia’s Tan Chong Motors is setting up a car assembly plant in Myanmar.

Shwe Taung Group partners Keppel Land for $300m Junction City project

Shwe Taung Group of Companies said that they will partner Keppel Land, Pan Pacific Hotel Group, City Square Development and New Asia Investments for the construction of the $300-million Junction City mixed-use project, media reports said.

Situated on Bogyoke Aung San road and Shwe Dagon pagoda road, the project will include, office space, shopping centre, hotel, and residential units.

The project is about 37 per cent completed, the first phase of construction of the office tower and shopping mall and hotel will be finished in 2017 while the residential apartments will be completed by 2019, said U Aung Zaw Naing, CEO of Shwe Taung Group.

Junction City Co Ltd is a group company of the Shwe Taung Group, which owns 55 percent stake.  About 40 per cent stake is owned by Singapore’s property company, Keppel Land and 5 per cent by Singapore’s City Square Development.

For the hotel in the project, Singapore’s Pan Pacific Hotel Group will hold 20 per cent together with 51 per cent by City Square Development and 29 per cent by Shwe Taung Junction city Co Ltd.

The shopping mall work will be handled by Singapore’s New Asia investments with 10 per cent while City Square Development will take 51 per cent and Shwe Taung Junction City Co Ltd will own 39 per cent.

The architect of the 6.5-acre project is DP Architects from Singapore.

Malaysia’s Tan Chong Motors to set up $50m assembly

Malaysia’s Tan Chong Motor Holding, which is in the assembly and distribution of motor vehicle, is investing $50 million on a facility for small passenger cards and pickup trucks, Paultan reported.

The plant will take up 50 acre in Bago where the major parts and components imported from abroad will be assembled locally. The facility will start production by 2018.

The company is finalising the process of securing the land with the government of Myanmar, said Dr Ang Bong Beng, executive director of Tan Chong Motor.

Tan Chong Motor Holding, the franchise holder and exclusive distributor of Nissan passenger and commercial vehicles in Malaysia, entered a distribution agreement with Nissan Motor Co Ltd in July 2013 to distribute ready to use cars in Myanmar.

In developments in Myanmar’s automobile sector so far, Suzuki Motor is constructing a new plant in Thilawa special economic zone to be completed by 2017 and Super Seven Star is the sales agent for KIA motors.

Also Read:

Myanmar Dealbook: Malaysia’s OCK to ink tower pact with Telenor; Shwe Taung Group partners Microsoft

Keppel Land expands Sedona Yangon, adds $80 million wing

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.