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YOMA Strategic Holdings has entered into an equally held joint venture with Mitsubishi Corp to distribute automobiles in Myanmar.
The new MM Cars Myanmar unit will operate two Mitsubishi Motors After-Sales Service Centres set up in 2013 and currently being operated by Yoma, a Myanmar-based conglomerate. The joint venture will also operate the first Mitsubishi Motors showroom in Yangon, which opened on Tuesday.
Yoma also has separate partnerships with Mitsubishi, including in the elevator, tyre and airport operations businesses.
Yoma shares last traded at 44.5 Singapore cents on Tuesday.