In a couple of investment deals in Myanmar, Taiwanese restaurant chain SheenHo has awarded a master franchise to local company, Creation Strength, to open outlets in the frontier market. Meanwhile, Thailand’s TOA Paint has bagged the state approval to begin manufacturing in Myanmar.
Taiwan’s SheenHo partners local firm to start restaurant business in Myanmar
They plan to invest about K1.3 billion and will open up to 20 branches in about five years. Chefs from Myanmar will be flying to Taiwan to learn how the cuisine at the SheenHo restaurants are prepared.
In the fast-growing consumer and food and beverage market in Myanmar, Singapore Mainboard-listed Singapore Myanmar Investco Limited (SMI) has partnered with Japanese ramen chain, IPPUDO to open a branch in Myanmar. SMI has also singed an agreement with Crystal Jade Group to open Chinese restaurants in Myanmar.
TOA Paint gets state nod for manufacturing
Thailand based TOA Paint has secured government approval to invest $12 million in Myanmar for setting up its manufacturing operations.
The facility – to be located at the Thilawa Special Economic Zone in Myanmar – will mark the seventh country in which the firm has presence after Thailand, Vietnam and Malaysia, China, Laos, India and Cambodia.
TOA Paint produces wood coatings, marine system coatings, construction chemicals such as waterproofing products and elastic bonding.