SMI plans expansion into Myanmar retail, F&B
A Singapore company plans significant investment in the Myanmar retail market.
Singapore Myanmar Investco (SMI), which is engaged in consumer products and services in Myanmar, plans to expand its interests to retail and F&B in the next three years.
SMI last year signed an agreement with Royal Golden Sky to have a retail space at Yangon International Airport.
SMI president/CEO Mark Bedingham says the group will continue to look at retail opportunities in Myanmar, and is in discussions with Junction City, Shwe Taung Group’s $300-million mixed-used development project. “I think there will be opportunities in both retail and the F&B space.”
About 10 international brands will be brought to the market while the airport outlet will have 30 brands by next month.
SMI is primarily targeting the downtown business district around Kandawgyi lake area and Mandalay for retail opportunities.
For the F&B 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.