S ingapore Myanmar Investco (SMI), a Singapore-listed Company has entered into a Joint Venture with Japanese logistics group Senko to provide logistics and warehousing services in Myanmar. The companies aim to incorporate and operate as a new entity, SMI-SENKO logistics. According to the agreement, SMI and SENKO will each subscribe for 650,000 new ordinary shares at $1 per share and hold 50 percent of the issued and paid-up capital. The JV Company will have an initial paidup capital of $1.3 million.
By combining SMI’s local knowledge and support network with Senko’s logistics experience, the JV can build a strong business foundation to provide integrated logistics and warehousing services for domestic and international customers from various industries.
Mark Bedingham, President of SMI said, “We are very excited to expand our business with a world class logistics firm like Senko as a strategic partner. By leveraging on the strengths of both firms, we can provide a compelling platform to deliver world-class logistics solutions.”
According to the Logistics Performance Index (LPI) by the World Bank, Myanmar is ranked 145 out of 160 in 2014. The strong economic growth outlook and further easing of sanctions may encourage the growth and development of Myanmar’s logistics sector. Many international logistics and warehousing players have recently set up operations in the country
