Singapore Windsor provides updates on development in Myanmar business venture

Singapore Windsor Holdings said the group’s business ventures in Myanmar have achieved several development targets.

Windsor said it has entered into a joint venture with an unrelated third party, ARCC Offices, to undertake serviced office business activities in Myanmar. Established for more than 14 years, ARCC Offices operates serviced offices across four major cities in 16 prime locations.

The company also said it has also started purchasing Sany products worth US$3.5 million for onward sale to confirmed customers in Myanmar. Listed on the Shanghai Stock Exchange with a market capital of more than RMB 38 billion ($7.6 billion), Sany International Development is one of the leading industrial and heavy equipment manufacturing companies.

Separately, on July 25, the group also announced that it has appointed consumer marketing specialist, Mark Bedingham, as its new president and CEO to spearhead and strengthen its business development efforts in South East Asia’s emerging markets.

Bedingham was previously the egional Managing Director of Asia Pacific of LVMH Moët Hennessy • Louis Vuitton S.A, where he has led an expansion of new subsidiaries in emerging markets across South East Asia, as well as Australia and New Zealand.

The business ventures are part of the Windsor’s diversified strategy to enhance its long-term growth prospects in South East Asia markets, specifically in Myanmar and to reduce the group’s reliance on its PCB’s business activities which has been impacted by enhanced price competition.