Singapore’s Yoma and METRO join hands for wholesale distribution in Myanmar

Singapore listed Yoma Strategic Holdings Ltd has partnered with Germany’s METRO GROUP, the international wholesale and food retail company is to establish an integrated wholesale distribution platform in Myanmar, the company announced on February 24.

A new entity, METRO Wholesale Myanmar Ltd aims to “address the evolving needs of the local professional customers” for those who demand quality supplies.

Yoma Strategic will hold a 15 per cent stake in the new business and the remaining 85 per cent will be taken by METRO.

“METRO Myanmar will leverage on METRO’s procurement capabilities and Yoma Strategic’s existing logistics, warehousing and fleet leasing businesses to fast track its growth,” as mentioned in the release.

METRO Myanmar is looking at improving the whole supply chain in the country.

They will be offering more than 3,300 food an non-food items to customers like hotels, restaurants and independent small retailers.

In Myanmar, retailers need to source their products in different ways from local distributors and importers and METRO is looking at creating a one-stop wholesale distribution platform. One popular wholesale center is named as Gandamar wholesale and is said to be supported by military backed Union of Myanmar Economic Holdings. We are confident that our partnership with METRO will bring global know-how in modern wholesale distribution and contribute to bringing reliable and safe food to the people in Myanmar,” said Melvyn Pun, CEO of Yoma Strategic.

The wholesale and food specialist company operates in 35 countries with sales reaching about Euro 37 billion in 2015-16.

Their B2B wholesale division METRO Cash & Carry serves across Europe and Asia to hotels, restaurants, small retail and catering firms. Just in recent years, they started to upgrade their competence in the hospitality industry, specifically, in the food service distribution work.

Also Read: 

Myanmar: Singapore’s Yoma, Japan’s Kokubu opens $5m storage facility in Yangon

Myanmar: Germany’s Metro Group might start ops by end of 2016, Singapore’s Sia Huat ties up with Premium Distribution

Myanmar: Yoma’s $718m realty project takes off; Yangon low-cost housing scheme

 

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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.