Myanmar: SMI in pact with Japanese ramen chain; S Korea’s Yojin to invest $60m

Singapore Myanmar Investco Limited has signed an agreement to operate and manage IPPUDO ramen restaurants in Myanmar. Meanwhile Yojin from South Korea has received an approval to invest $60 million for setting up manufacturing of Portland cement.

SMI to operate Japanese ramen chain IPPUDO

Singapore main board listed Singapore Myanmar Investco Limited (SMI) has partnered with a Japanese ramen restaurant chain, IPPUDO, which is  scheduled to open its first Myanmar branch in the first quarter of 2017.

SMI’s agreement to operate and manage IPPUDO ramen restaurants in Myanmar was made with Chikaranomoto Holdings Co Ltd, an operator of the popular ramen chain, that is spread around 13 countries.

According to a release by SMI, Chikaranomoto will provide training programmes to SMI for the set up and operate the restaurants in Myanmar.

“We see abundant growth opportunities within the F&B retail market in Myanmar and the time is ripe for us to introduce the popular IPPUDO brand and cuisine to a growing middle class in Myanmar,” said Mark Bedingham, president and CEO of SMI.

SMI, that is engaged in consumer products and services in Myanmar, is looking to invest in retail and F&B over the next three years.

They have also signed a franchise agreement with Crystal Jade group, a Chinese restaurant concept and The Coffee Bean and Tea Leaf to be opened soon at the Yangon International Airport terminal.

South Korea’s Yojin to invest $60m 

Yojin Myanmar Co Ltd, a subsidiary of Yojin Construction and Engineering from South Korea will be investing $60 million to set up portland cement manufacturing in Myanmar.

The investment will be at the Thilawa SEZ and will cover over 100,000 square meters, according to government figures.

Media reports say that the firm is expected to produce 1 million tonnes cement a year and has been offered financing from Shin Han Bank that has a representative office in Myanmar.

Also Read:

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

Myanmar: Mega jade & gem market underway; Shin Han Bank’s $50m aid for Yojin Construction

Myanmar Dealbook: Europe’s Sioen Industries, Thai Siam Cement plan investments

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.