Retail News CRM

Tag: Yoma Strategic Holdings

  • Myanmar distribution platform on way

    Myanmar distribution platform on way

    Singapore-listed Yoma Strategic Holdings has partnered with international wholesale/retail food company Metro Group to establish an integrated wholesale Myanmar distribution platform.

    Metro Wholesale Myanmar aims to address the “evolving needs” of professional customers. Yoma Strategic holds a 15 per cent stake in the business with the remaining 85 per cent taken by the German group.

    “Metro Myanmar will leverage on Metro’s procurement capabilities and Yoma Strategic’s logistics, warehousing and fleet-leasing businesses to fast-track its growth,” the companies say in a joint statement.

    Metro Myanmar is looking at improving the nation’s supply chain. It will be offering more than 3300 food and other items to such customers as hotels, restaurants and independent small retailers.

    As Myanmar retailers need to source products in different ways from distributors and importers, Metro is looking at creating a one-stop wholesale distribution platform.

    “We are confident our partnership with Metro will bring global knowhow in modern wholesale distribution and contribute to bringing reliable and safe food to the people in Myanmar,” says Yoma Strategic CEO Melvyn Pun.

    Metro is active in 35 countries with sales reaching about €37 billion (US$39 billion) in 2015-16. Its B2B wholesale division Metro Cash & Carry serves hotels, restaurants, small retail and catering firms across Europe and Asia.

    Lees ook:

    Lees ook:

    Lees ook:

  • Yoma to redevelop Yangon project, Centrium Square retail units sold

    Yoma to redevelop Yangon project, Centrium Square retail units sold

    A consortium – that includes Yoma Strategic Holdings, its wholly-owned subsidiary Yoma Strategic Investments (YSIL); Mitsubishi Corporation and Mitsubishi Estate; First Myanmar Investment (FMI); and the International Finance Corporation (IFC) – will redevelop a Yangon mixed-used development.

    The Asian Development Bank (ADB) will become party to the deal, with the rest of the corporate entities establishing a joint venture (JV) corporation – Meeyahta Development Limited (MDL).

    Yoma will maintain a 48 per cent share in the JV firm with smaller shares held by FMI (12%), Mitsubishi (30%), IFC (5%) and ADB (5%).

    The proposed development excludes Yoma’s plan to redevelop the former headquarters of the Burma Railway Company into a five-star hotel, The Peninsula Yangon, which was announced in 2013.

    According to Yoma Strategic, it is currently awaiting the approval from the Myanmar Investment Commission for the incorporation of the joint venture (JV) entity.

    According to the deal, yhe shareholders agreement will be terminated should the first subscription of shares fail to take place on or before the deadline of 30 June 2017.

    The agreement is deemed an interested person transaction as FMI’s chairman and controlling shareholder, Serge Pun, also holds about 36.27 per cent of direct and deemed interests of Yoma Strategic. As such, Yoma requires shareholder approval to finalise the deal.

    Centrium Square retail units sold in bulk for S$70.1m

    Thirty two retail units at Centrium Square with a total strata area of 16,738 sq ft are likely to have been sold through a bulk purchase for S$70.1 million, based on caveats published by the URA. This transaction saw first storey retail units sold at an average price of S$6,015 psf, with second storey units fetching an average price of S$3,932 psf.

    Centrium Square is a freehold development comprising two levels of retail units, 39 medical suites and 143 office located close to Farrer Park MRT station and is on the site of the former Serangoon Plaza. The developer is Feature Development, an affiliate of Tong Eng Group.

    According to a report from The Edge Property, the buyer is believed to be Canali Logistics, which purchased Hotel Grand Chancellor at Belilios Road in Little India in 2014.

    The opening of Farrer Park Hospital,  part of an integrated complex comprising Farrer Park Medical Centre, which houses specialist clinics and One Farrer Hotel and Spa, have positioned the area to be a medical hub.

    Separately, RB Capital is developing Farrer Square, a mixed-use project comprising medical suites and 300-room Park Hotel Farrer Park.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook: