MMC, MC, YSH and FMI sign a Memorandum of Understanding on the after-sales service business for Mitsubishi Motors in Myanmar
February 17, 2013 - Tokyo
Mitsubishi Motors Corporation (MMC), Mitsubishi Corporation (MC), Yoma Strategic Holdings Ltd. (YSH) and First Myanmar Investment Company Ltd (FMI) wish to jointly announce that they have signed a Memorandum of Understanding (MOU) concerning the after-sales service business for Mitsubishi Motors in the Republic of the Union of Myanmar (Myanmar).
Since the recent deregulation of automobile importation in Myanmar, a number of Mitsubishi Motors vehicles have been distributed through the used car market. As MMC currently does not have any official after sales service network in Myanmar, it has been a priority to establish this as soon as possible.
Under this MOU, MMC, MC, YSH and FMI are now planning to establish an official service center firstly in Yangon, followed by Mandalay and Nay Pyi Taw. Each official service center will provide well-trained and highly qualified service technicians with genuine parts to existing Mitsubishi Motors vehicle owners.
Myanmar has economic potential to become one of the largest and most important markets in Asia and the ASEAN region. MMC would like to build and strengthen its trustworthy brand image by establishing the after sales service network.
About Yoma Strategic Holdings Ltd. (Listed on the Main Board of the SGX-ST)
Head office: Fuji Xerox Towers #25-05, 80 Anson Road, Singapore 079907
Year of establishment: August, 2006
Main business activities: Yoma Strategic Holdings Ltd. is a leading business corporation with real estate, agriculture and automobile dealership businesses in Myanmar and the People's Republic of China. Together with its partner, the SPA Group, the Group is taking a conglomerate approach to build a diversified portfolio of businesses in Myanmar.
Representative: Serge Pun, Executive Chairman
About First Myanmar Investment Co. Ltd. (FMI)
Head office: FMI Centre, Level 10 & 11, 380, Bogyoke Aung San Road, Pabedan Township, Yangon, Myanmar
Year of establishment: 1992
Main business activities: FMI is one of Myanmar's leading public companies. With over 4,700 individual shareholders, FMI is an investment holding company that boasts a balanced portfolio of investments in 7 different spheres of businesses, including financial services, real estate and automobile distribution. The company is an entity within the SPA Group.
Representative: Serge Pun, Chairman
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
About Mitsubishi Motors
Mitsubishi Motors Corporation (TSE: 7211) was established in 1970 and is one of the few automobile companies in the world that produces a full line of automotive products ranging from 660-cc mini cars and passenger cars to commercial vehicles and heavy-duty trucks and buses. The company also operates consumer financing services and provides this to its customer base. For more information, please visit www.mitsubishi-motors.com.
Source: Mitsubishi Corporation
Public Relations Department
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