Suzuki to build second Myanmar car plant

Photo: Mike Blake/Reuters via MBT

Suzuki Motor Corp will invest “several billion yen” to build a second auto plant in Myanmar in a bid to make quick inroads into the country’s booming auto market, a report said.

Japan’s Nikkei business daily reported that the company has secured a 20-hectare plot at the Japanese-backed Thilawa special economic zone, 25 kilometres from the country’s commercial hub Yangon.

The Japanese carmaker is expected to invest several billion yen and hire about 300 staffers, the report said.

Construction is expected to start later this year, with the facility slated to come online in 2017, the newspaper added.

The new plant will assemble imported parts and initial output is seen at about 10,000 cars a year. It could produce the Ertiga, a seven-seat compact, among other models, Nikkei reported.

Suzuki began production in Myanmar in 1999 through a joint venture with a state-owned enterprise but pulled out at the end of 2010. Suzuki resumed auto production in 2013 and now produces about 150 Carry minitrucks in its factory in South Dagon Industrial Zone.

Japanese companies have made big advances recently in terms of investing in Myanmar and getting involved in several key infrastructure projects. Unlike its Western allies, Japan maintained trade ties and dialogue with Myanmar during junta rule, saying a hard line could push it closer to China.

Source: Content sharing agreement with Myanmar Business Today

 

Singapore Reporter/s

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

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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.