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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Japan’s Sumitomo Corp net profit down 32% on Madagascar one-off loss
DBS customers unable to log into Digibank, PayLah! on Thursday
Moody's tops quarterly profit estimates on strong product demand
Hong Kong regulator brings insider trading charges against Segantii and its founder
Novartis to buy radiology specialist Mariana Oncology for US$1 billion
Moderna beats quarterly estimates as cost-cutting pares losses