Singapore Myanmar Investco sells TPR telco assets for US$8m

Singapore

SINGAPORE Myanmar Investco (SMI), through its indirect subsidiary TPR Myanmar, is selling all of TPR's telecommunications towers and tower leases in Myanmar for US$8 million. The buyer is Irrawaddy Green Towers and its parent company Irrawaddy Towers Asset Holding.

This comes as SMI looks to focus its efforts on "less capital intensive and potentially better performing business segments" to gain faster returns on investments such as its duty-free and retail businesses, it said in a regulatory filing on Friday.