Feb 11, 2013

Singpaore vehicle maintainence opens in Myanmar

On February 6, Myanmar Investment Commission has allowed to open a vehicle maintainence service centre jointly organized by a Singapore company and Myanmar company in Yangon according to the Foreign Investment Law.

The service centre was jointly cooperated by Jardine Cycle & Carriage Ltd Singapore and Automobile Century Co; Ltd Myanmar. Jardine Cycle and Carriage Limited was renamed from Cycle and Carriage following the integration into the Jardine Matheson Group in 2004.

The name change recognizes Cycle & Carriage's distinguished 104-year operating history and firmly establishes Jardine Cycle & Carriage as part of the Jardine Matheson Group. The company is a conglomerate that is involved in auto distribution and retail accounts for 13% of auto sales in Singapore. Its marquees include Kia, Mercedes-Benz, Mitsubishi and Citroe.

Significantly the group includes a large holding in Astra Internationalof Indonesia, an important auto-related conglomerate.

Other international companies have discussed to carry out the vehicle operating services in Myanmar, the Directorate of Investment and Companies Department said.

Myanmar Investment Commission held a meeting 6/ 2013 in Nay Pyi Taw on February 6. The meeting had allowed again totally 6 jobs according to the Foreign Investment Law and Myanmar Citizens Investment Law.

According to the Foreign Investment law, the two jobs are vehicle operating services and the remainings are beer production services in Bago Region where beer production factory will be joint ventured services in the Foreign Mechanical Project Area.

Source: 11 Weekly Media