KFC announces official Myanmar move
One of the world’s leading fast-food companies Kentucky Fried Chicken (KFC) has announced that it will officially move into Myanmar’s food and beverage market. KFC’s parent company, Yum! Brands has teamed up with Yoma Strategic Holdings (YSH) to open its franchise stores in Myanmar, which both companies say will take place in 2015. US-based Yum! said that a Myanmar move reflects its global strat- egy to expand in emerging markets. YSH is an invest-ment holding company which is part of the business empire of Serge Pun, who has interests in Real Estate, tourism and automobiles among others. In a statement, YSH said that it is “keen to tap in Myanmar’s growing consumer class that is forecast to grow from 2.5 million today to 19 million in 2030.”
Hong Kong garment maker invests US$ 5.5 million in factory
Garment maker Prosperity Knitwear Myanmar Ltd, which is made up of investments from Hong Kong, China and Bangladesh has in- vested US$ 5.5 million in the construction of a garment factory close to Yangon. According to re-ports, the factory is located close to the Thilawa Special Economic Zone, and the company said that it plans to in-crease its investment to US$ 45 million next year. The garments produced in the factory will be exported to the Euro-pean market, including Marks and Spencers to the United Kingdom, Italy and Cana- da. The factory is expected to em-ploy 2,500 workers once work begins in the factory in December.
Tee Entertainment links up with Sky Net
Thai company Tee Entertainment has reached an agreement with local conglomerate Shwe Than Lwin Media Co Ltd, which operates Sky Net television, to manage the production and co-manage the strategy, operation and marketing of the new joint-venture company, Tee International Myanmar. President of Tee Entertainment Co Ltd, Tee-Somchai Cheewasutthanon, said that the company will begin to produce three television programmes – two games shows and a music programme – and that the agreement is split 70-30 between Tee En- tertainment and Sky Net TV. The two companies had previously reached an agreement in relation to the broadcasting of English Premier League Football matches, for which Sky Net is the authorised broadcaster in Myanmar. The Thai company has said that it is planning to invest heavily in international markets in the future, and is also looking at opportunities in Laos and Cambodia.
Telenor SIMs to work in five other countries
Norwegian telecoms firm Telenor has said that its Myanmar SIM cards will work in five other countries, India, Pakistan, Bangladesh, Ma- laysia and Thailand. The company also said that it is currently testing the network in Yangon, and plans to soon release SIM cards in the country’s biggest city. Telenor made the decision to begin operating its services in the second and third biggest cities, Mandalay and Nay Pyi Taw. Company representatives say that Telenor SIM cards will be available for US$ 1.50, the same price as its rival Ooredoo.
Marubeni to build coal power plant
Japanese company Marubeni has said it will build at 2,000 Megawatt coal-fire power plan in Myanmar’s Tanintharyi Region. The compa- ny is planning to form an agreement with Thai company PTT and the state-owned Electricity Generating Authority of Thailand (EGAT), as well as one Myanmar and one Thai company for the project, of which 80 per-cent of the output will go to Thailand. Total investment for the project is expected to reach almost US$ 3 billion.
