Singapore’s SMI eyes expansion into retail, F&B in Myanmar

SGX Mainboard-listed Singapore Myanmar Investco (SMI) – engaged in consumer products and services in Myanmar – will be looking at investing in the retail and food & beverage vertical in the next three years.

Late last year, SMI inked an agreement with Royal Golden Sky Co Ltd to operate a retail space at the Yangon International Airport.

“We will continue to look at retail opportunities in the domestic market (Myanmar). We are in discussions with the Junction City (Shwe Taung Group’s $300-million mixed-used development project) and I think there will be opportunities in both retail and F&B space,” said Mark Bedingham, president and chief executive officer, Singapore Myanmar Investco.

About 10 international brands will be brought to the domestic market while the Yangon International Airport retail space will sport 30 brands by July 2016.

SMI is primarily targeting the downtown business district around Kandawgyi lake area and Mandalay for retail opportunities.

For the food and beverages sector, SMI has signed a franchise agreement with Crystal Jade group to bring in the Chinese restaurant concept and The Coffee Bean and Tea Leaf that will open soon at the new Yangon International Airport terminal.

“We want to be seen as a progressive company in Myanmar, bringing new products and services that have not been available here before, both for consumers and businesses.”