Singapore Myanmar Investco hinges growth on Myanmar’s robust tourism
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It secured 90% of commercial space in YIA’s new terminal. Singapore Myanmar Investco’s duty free shops, retail outlets and car rental services are seen benefitting from growing tourism in Myanmar, said DBS Vicker Securities.
The research house notes that the influx of tourists, estimated by the Tourism Ministry to increase from 5m in FY2016 to 7.5m in FY2020 on the back of the improved political and economic stability, will lead to the capacity expansion of YIA from 2.7m to 8m passengers by 2019.
As such, with 90% of the commercial space secured on a 10-year agreement with merchandise supplied by DFS Venture Singapore at the new terminal at YIA which opened in mid-March, it believes SMI is set to benefit from the rising tourism in Myanmar.
SMI will also manage three F&B outlets; with franchise agreements signed with Crystal Jade, IPPUDO (Japanese ramen restaurant) and The Coffee Bean & Tea Leaf.
SMI plans to expand its range of F&B franchise concepts into the domestic market.
Questions & Answers
Q.What percentage of commercial space has Singapore Myanmar Investco secured in YIA's new terminal?
What percentage of commercial space has Singapore Myanmar Investco secured in YIA's new terminal?
Singapore Myanmar Investco has secured 90% of the commercial space in the new terminal at YIA. This agreement is for a 10-year period, with merchandise supplied by DFS Venture Singapore.
Q.Which specific F&B brands will Singapore Myanmar Investco be managing at YIA?
Which specific F&B brands will Singapore Myanmar Investco be managing at YIA?
Singapore Myanmar Investco will manage three F&B outlets, having signed franchise agreements with Crystal Jade, IPPUDO (a Japanese ramen restaurant), and The Coffee Bean & Tea Leaf.
Q.When is the capacity expansion of YIA expected to be completed and what will the new capacity be?
When is the capacity expansion of YIA expected to be completed and what will the new capacity be?
YIA's capacity is expected to expand from 2.7 million to 8 million passengers by 2019. This expansion is driven by the anticipated increase in tourist numbers.
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