Myanmar Motor Corp gets nod to set up $10m bus assembly, eyes exports

Photo: Juliet Shwe Gaung. A garbage truck of MMC.

Yangon-based Myanmar Motor Corporation Public Company Ltd (MMC) – a consortium of 31 local companies – has received the Myanmar Investment Commission approval to start assembly production of buses targeting domestic markets and export too going forward.

The company will invest a total of $10 million for the assembly facility and production. The facility is located in Mingalardon township across four acres.

“Our capacity is 30 cars (units) per month,” said Htay Aung, president of MMC during an interaction with DEALSTREETASIA.

The facility will initially assemble two types of buses – a 49-seater and a 55-seater catering to both city and highway routes.

Going forward, the company is looking to export these buses to Singapore, Macao, Hong Kong and Taiwan “We are aiming for the export market. Corporations like SMRT in Singapore usually change 100 to 200 buses every year. We want to fill in that space,” said Aung.

The company is targeting to produce 100 buses per year, and gradually take the production up to 200 by year nine of operations.

MMC, established in 2012, comprises 31 private companies including Sakura Trade Centre Co Ltd, Sakura Engineering and Construction Development Co Ltd, Sakura Technical Services Co Ltd, and other such as Three Color Cherry Co Ltd, Myanmar New Way Co Ltd and Ngwe Kyar Yan Co Ltd.

Htay Aung founded Sakura Auto Co Ltd, which is into imports of new and reconditioned cars. He is known for building the Sakura Hospital in Yangon.

MMC is also the exclusive dealer of MAN, a provider of commercial vehicles headquartered in Germany.

The company is looking at accessing financing from Global Treasure Bank Public Co Ltd, a commercial bank which was formally the Myanma Livestock and Fisheries Development Bank.

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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.