Singapore based Yoma Strategic Holdings and Japan’s Kokubu Corp have opened a $5 million multi temperature storage facility in Yangon to expand to an end-to-end cold chain logistics facility in Myanmar.
The new storage facility spans 4500 square meters and is located at the Highway 3 of Mingaladon township. It has been constructed by KOSPA Limited – a joint venture of Yoma and Kokubu – that distributes food produce in Myanmar using refrigerated vehicles.
The facilities include fully racked storage chambers with independently managed and controlled storage temperature conditions, stated in the announcement by Yoma.
the HV has been operating since October 2014 with some multi-temperature controlled trucks and servicing industries like agriculture, pharmaceutical and hotels; the new storage facility will be a supplement to its vehicle fleet.
“By leveraging the significant expertise from our partner, we are confident KOSPA will address and fill an important gap in the market to transport, store and distribute temperature sensitive products efficiently and to the highest international standards,” said Melvyn Pun, CEO of Yoma Strategic.
The storage is designed to be a “modern warehouse management system” providing inventory management solutions and will handle both large and small scale.
“The opening of the KOSPA multi-temperature storage facility in Yangon and our strong partnership with Yoma Strategic allows KOSPA to provide cost effective and efficient distribution platforms to food industries in Myanmar. We believe that this will allow us to positively contribute to better food quality in Myanmar,” said Akira Kokubu, executive vice president and COO of Kokubu Corp.
Other players in the field of logistics include Singapore-listed Singapore Myanmar Investco Limited which entered into a joint venture with Japan’s Senko Co Ltd to provide logistics and warehouse services in Myanmar with an initial capital of $1.3 million.