Myanmar Digest: SMI to sell Shiseido products; Junction City hotel by end 2017

Photo: Shiseido.

Singapore-listed Singapore Myanmar Investco Limited has signed an agreement to be an exclusive distributor of Shiseido products in Myanmar. Local Shwe Taung group plans to complete its five-star Pan Pacific Hotel by the end of 2017, developed as part of the Junction City project.

Singapore’s SMI to distribute Shiseido products in Myanmar

Singapore Mainboard-listed Singapore Myanmar Investco Limited (SMI) has signed an agreement to exclusively distribute and market Shiseido products in Myanmar.

“Myanmar is one of the most promising economies in Asia, however for majority of Asian and global consumer brands, Myanmar is a relatively new frontier market,” said Mark Bedingham, president and chief executive officer of SMI.

SMI will help maintain a network of high-end retailers with its knowledge and experience of the retail landscape in Myanmar. SMI has been focusing on the duty-free retail business, F&B venture and auto services in Myanmar.

In October 2016, SMI announced the divestment from telecom tower business to Hong Kong’s Shining Star International Holdings Ltd for $12.7 million, seen as a move to shift its focus to the consumer-related businesses in the country.

Some of the partnerships of SMI include Crystal Jade Group for a Chinese restaurant concept, The Coffee Bean and Tea Leaf and IPPUDO, a Japanese ramen chain.

Junction City’s five-star Pan Pacific Hotel be done by late 2017

Junction City, a mixed-use development located down town Yangon, is expecting to open its five star Pan Pacific Hotel, in the later part of 2017, as part of the Junction City project.

The project is jointly developed by Shwe Taung Group, Singapore’s Keppel Land and the Pan Pacific Hotel group. The phase one of the $300-million Junction City project comprises Grade A office, a Pan Pacific hotel and a shopping centre.

Phase two of the project includes serviced residences scheduled to be completed in 2019.

Keppel Land has a 40 per cent stake in the Junction City Tower and the Phase 2 development of Junction City. The Pan Pacific Hotels Group has got a 20 stake in Pan Pacific Hotel.

Also Read:

Singapore’s SMI eyes expansion into retail, F&B in Myanmar

Taiwan’s SheenHo restaurant chain, Thai TOA Paint to invest in Myanmar

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

 

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. 
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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.