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Tag: SMI

  • SMI signs deal to develop The Coffee Bean in Myanmar

    SMI signs deal to develop The Coffee Bean in Myanmar

    Singapore Myanmar Investco (SMI) has signed an international area development agreement to develop The Coffee Bean & Tea Leaf (CBTL) cafe chain in Myanmar.

    Founded by Herbert Hyman in 1963, the chain is owned and run by International Coffee & Tea, which has its corporate headquarters in Los Angeles. It has more than 1000 self-owned and franchised stores in the US and 31 other countries.

    SMI secured the franchise rights two years ago to run CBTL outlets within the new Yangon International Airport. Following encouraging results from the two airport cafes, the new deal folds the CBTL brand into the group’s growing F&B brand portfolio, which includes Crystal Jade and Ippudo.

    Under the exclusive agreement, SMI is committed to expand CBTL across Myanmar, with the first outlet planned to open within the next month.

    “Aligned with the growing consumer market in Myanmar, our local market knowledge and experience gives us confidence as we further entrench our F&B business presence in this frontier market,” says SMI president/CEO Mark Bedingham.

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  • Taiwan’s SheenHo finds partner for Myanmar

    Taiwan’s SheenHo finds partner for Myanmar

    Taiwanese restaurant chain SheenHo has awarded a master franchise to Myanmar company Creation Strength to open outlets in the frontier market.

    About K1.3 billion (US$995,000) will be invested in opening up to 20 branches over five years, starting in Yangon.

    Chefs from Myanmar will be flown to Taiwan to learn how to prepare the restaurant’s cuisine.
    Meanwhile, Singapore Myanmar Investco (SMI) has partnered with Japanese ramen chain Ippudo to open a branch in Myanmar. SMI has also signed an agreement with Singapore’s Crystal Jade Group to open Chinese restaurants in Myanmar.

  • SMI helping launch Ippudo in Myanmar

    SMI helping launch Ippudo in Myanmar

    Singapore Myanmar Investco (SMI) will launch Japanese ramen restaurant chain Ippudo in Myanmar early next year.

    Brand owner Chikaranomoto Holdings will provide training programs for SMI to set up and run the Myanmar restaurants.

    ippudo outside

    “We see abundant growth opportunities within the F&B retail market in Myanmar, and the time is ripe for us to introduce the Ippudo brand and cuisine to the growing middle class,” says SMI president/CEO Mark Bedingham.

    SMI, which is involved in consumer products and services in Myanmar, is looking to invest in retail and F&B over the next three years. It has also signed a franchise agreement with restaurant group Crystal Jade and The Coffee Bean and Tea Leaf.

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  • Singapore’s SMI eyes expansion into retail, F&B in Myanmar

    Singapore’s SMI eyes expansion into retail, F&B in Myanmar

    SGX Mainboard-listed Singapore Myanmar Investco (SMI) – engaged in consumer products and services in Myanmar – will be looking at investing in the retail and food & beverage vertical in the next three years.

    Late last year, SMI inked an agreement with Royal Golden Sky Co Ltd to operate a retail space at the Yangon International Airport.

    “We will continue to look at retail opportunities in the domestic market (Myanmar). We are in discussions with the Junction City (Shwe Taung Group’s $300-million mixed-used development project) and I think there will be opportunities in both retail and F&B space,” said Mark Bedingham, president and chief executive officer, Singapore Myanmar Investco.

    About 10 international brands will be brought to the domestic market while the Yangon International Airport retail space will sport 30 brands by July 2016.

    SMI is primarily targeting the downtown business district around Kandawgyi lake area and Mandalay for retail opportunities.

    For the food and beverages sector, SMI has signed a franchise agreement with Crystal Jade group to bring in the Chinese restaurant concept and The Coffee Bean and Tea Leaf that will open soon at the new Yangon International Airport terminal.

    “We want to be seen as a progressive company in Myanmar, bringing new products and services that have not been available here before, both for consumers and businesses.”

  • Myanmar signs up for Crystal Jade restaurants

    Myanmar signs up for Crystal Jade restaurants

    Crystal Jade restaurants are headed to Myanmar after a franchise agreement signed between Singapore Myanmar Investco (SMI) and Crystal Jade Management Vietnam.

    Crystal Jade Group has more than 100 outlets in 20 cities in the Asia Pacific region and the US.

    Under the terms of the agreement, SMI will have the exclusive right to develop, manage and run the Crystal Jade Kitchen, Crystal Jade Palace Restaurant and Crystal Jade La Mian Xiao Long Bao restaurants in Myanmar for 10 years, with the option to extend for a further 10 years.

    The first Crystal Jade Kitchen outlet is expected to open in the third quarter of this year at the new Yangon International Airport Terminal 2, while a Crystal Jade Palace restaurant is expected to launch at the Sedona Hotel Yangon later in the year.

    Further ahead, the group expects to open another two Crystal Jade Kitchen restaurants in 2017 and in 2018.

    SMI manages the duty-free retail space in the new Yangon terminal.

  • SMI secures five-year retail licence at Yangon airport

    SMI secures five-year retail licence at Yangon airport

    Singapore Myanmar Investco (SMI) subsidiary SMI Retail is to operate duty-free, retail and food and beverage facilities at Yangon International airport (YIA) terminal two from April 1 2016. The retail operator has been awarded a five-year licence, with the option to extend for a further  five years.

    Comprising 6,725sq m of retail space, SMI will host 43 shop units across the ground, first and second levels in T2, where it is expected to welcome more than triple the amount of international passengers travelling to Yangon. It will also provide a merchandising, management and consultancy service to local distribution partner Royal Golden Sky (RGS) Company Limited for the T2 duty-free retail space. The agreement is for five years and begins on April 1 2016.

    RGS has also been appointed exclusive distributor of duty-free merchandise for sale in the airport, including the new terminal. The agreement also begins on April 1 2016 with the renewable contract expiring on March 31 2021.

    Meanwhile, the group’s exclusive 10-year supply agreement with DFS, announced last May, has been secured and forms an integral part of SMI’s travel-retail business model. According to the company, both initiatives will augment the group’s market position in the burgeoning travel industry and increase its business presence of consumer-related services in Myanmar.

    Operations of the duty-free, retail and food and beverage outlets will commence from March 2016 and be progressively rolled-out over the next few months. In addition, the group has reached  agreements with international fashion and lifestyle brands and food and beverage franchises.

    SMI president and CEO Mark Bedingham said: “SMI has been able to use the capabilities of its senior executives, many of whom have extensive experience in duty-free, retail and food and beverage management, to make a compelling offer, through our local partners, to YIA and its magnificent new terminal. We have  provided them with a unique and exceptional range of duty-free, luxury and lifestyle brands and  introduced for the first time some world class food and beverage concepts. This will allow SMI to have full exposure to the expected rapid growth in tourism and business travel.”

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