Singapore Myanmar Investco invest in retail outlet at Yangon International Airport

A subsidiary of Singapore Myanmar Investco (SMI) has entered into deals to provide services to retail outlets at a new terminal at Yangon International Airport.

SMI Retail will provide merchandising, management and consultancy services to distribution partner Royal Golden Sky Company (RGS) for 6,725 sq m of duty-free retail space, SMI said in a statement. SMI Retail will also appoint RGS as its exclusive distributor of duty-free merchandise for sale in the airport.

The five-year agreements start from March next year and may be extended for a further five years.

SMI added that international travellers to Myanmar are expected to grow rapidly. The new international Terminal 2 is expected to allow Yangon International Airport to more than triple the number of international passengers to Yangon, it said.

Source: Straits Times

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