A joint venture between Myanmar Kaido Co., Ltd. and Mitsubishi Corporation aims to capitalize on Myanmar’s rapid development of urban infrastructure through the newly-established machinery rental company, Diamond Rental Myanmar.
Opening ceremony of Diamond Rental Myanmar was held at Sule Shangri La on December 9. The investment ratio of each shareholder stands as 50% by Mitsubishi; 20% by Mitsubishi subsidiary Nikken Corp and 30% by Myanmar Kaido.
At the ceremony, Yangon’s Chief minister, Phyo Min Thein, said the Myanmar-Japan partnership will benefit not only the local firm but also Myanmar’s ongoing development projects, especially Yangon’s urban development plan drawn up with the help of the Japan International Cooperation Agency, JICA.
Tomonori Hattori, managing director of Diamond Rental Myanmar (DRM), said the company aims to be the No. 1 rental company in Myanmar. The three companies have collaborated in the rental business in Myanmar since 2013. In November 2015, they established DRM after engaging in trial operations in April the same year at the Thilawa Special Economic Zone.
