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Singapore Myanmar Investco and Japan's Senko form logistics JV
MAINBOARD-LISTED Singapore Myanmar Investco (SMI), a diversified business group focused on Myanmar, has entered into an equally-held joint venture with Tokyo-listed logistics services company Senko Co.
Together, they will set up and run a Singapore company, SMI-Senko Logistics Pte Ltd, to provide logistics and warehousing services in Myanmar.
According to the Logistics Performance Index by the World Bank, Myanmar is ranked 145 out of 160 in 2014.
However, the strong economic growth outlook and further easing of sanctions will likely fuel the growth and development of Myanmar's logistics sector, SMI said, adding that it has local knowledge and a support network, while Senko has in-depth logistics expertise.
This is not expected to have any material impact on SMI's consolidated net tangible assets per share and earnings per share for the current financial year ending March 31, 2016, it added.