PDC, Sojitz and Sojitz Logistics Secure Investment Permit from Myanmar Investment Commission
- Expanding the Three -Temperature Logistics Business Further -
Dec. 8, 2015
Sojitz Logistics Corporation
Premium Sojitz Logistics Co., Ltd. (Head office: Yangon; “PSL”), a subsidiary currently operating a three-temperature logistics business in Myanmar which formed as a joint venture between Sojitz Group and Myanmar’s foodstuff and consumer goods wholesaler, Premium Distribution Co., Ltd. (Head office: Yangon; “PDC”), has recently obtained an investment permit from the Myanmar Investment Commission (“MIC”). With this permit, PSL plans to expand its business with greater speed.
Sojitz and PDC' s parent company, a major Burmese retail and logistics group known as City Mart (City Mart Holding Co., Ltd.; Head office: Yangon; “CM”), entered into a capital and business alliance in August 2013. Sojitz has since provided assistance to the Group' s wholesale arm, including work to modernize their wholesale operations and bolster their product lineup for overseas imports. Sojitz also began operation of the new three-temperature logistics business under PSL starting in June 2015, following PSL' s receipt of business certification from the Directorate of Investment and Company Administration.
PSL' s newly obtained investment permit from the MIC eases various regulations regarding long-term real estate leases and foreign currency remittances, and provides eligibility for tax breaks. PSL looks to capitalize on these benefits to expand the business with further efficiency and to provide logistics support to restaurant chains entering Myanmar such as Pizza Hut. This way, they can make a substantial contribution to modernizing Myanmar' s food logistics business. Furthermore, PSL aims to enhance the services it provides to customers as they address a wide range of customer demands, including work on a Thailand-Myanmar cross-border logistics chain.
Premium Distribution Co., Ltd. – Company Overview
|Representative Director||Mr. Soe Moe Thu|
|Head Office||No.1-3, Aungsan Stadium (North Wing), Gyo, Phyu, Street Mingalar Taung Nyunt Township, Yangon, Myanmar|
|Main Businesses||Wholesale of foods and consumer lifestyle goods|
Premium Sojitz Logistics Co., Ltd. – Company Overview
|Head Office||39(B1), Shwe Pin Lon Housing North Dagon Township, Yangon, Myanmar|
|Ownership||PDC: 60%(City Mart Holding' s 100% subsidiary) Sojitz and Sojitz Logistics: 40%|
|Main Businesses||Three-temperature logistics business (room temperature, refrigerated, and frozen)|