Intraco, Tat Hong and Aung Moe Kyaw set up Myanmar JV company

Mainboard-listed trading company Intraco Limited on Aug 28 announced a joint venture agreement with Tat Hong Holdings and prominent Myanmar businessman Aung Moe Kyaw to establish Tat Hong Intraco Pte Ltd, a joint venture company in Singapore, to carry out the business of rental of cranes and distribution of cranes and excavators in Myanmar. Incorporated in Singapore with a paid-up capital of US$500,000, both Intraco and Tat Hong each hold a 40% stake in the new entity, with the remaining 20% held by Aung Moe Kyaw. Intraco’s share of capital was sourced from internally generated funds. The Singapore JV company will carry out the distribution of cranes and excavators in Myanmar. It will also incorporate Tat Hong Intraco Heavy Equipment Co Ltd, a wholly-owned subsidiary of Tat Hong in Myanmar, to provide the rental of cranes and other related business activities in the market.