HG Metal commits to Myanmar joint venture
Release Date: August 24, 2018
HG Metal Manufacturing will take a majority stake in and capitalize a joint venture in Myanmar, the steel products maker said yesterday.
Under the terms of the agreement, HG Metal will pay US$95,700 (S$131,000) to Singapore-incorporated holding company Fortune Peak Investments for a 51.04 per cent stake in First Fortune International Co, a company that will undertake cut and bend, and fabrication services in Myanmar.
HG Metal said that the joint venture will give it a modern facility to provide cut and bend, and fabrication services in the fast-growing Myanmar market. HG Metal provides those services through its facility in Singapore, and focuses only on sale and distribution in Myanmar.
A version of this article appeared in the print edition of The Straits Times on August 24, 2018, with the headline 'HG Metal commits to Myanmar joint venture'.
- Renewable energy law in the works to speed up development September 19, 2018
- Myanmar to manufacture electric buses September 7, 2018
- Locomotive factory construction in Nay Pyi Taw to finish in December September 5, 2018
- Korean bus maker to do business in Myanmar August 31, 2018
- Nearly 80 foreign enterprises permitted to run in Myanmar's Yangon August 23, 2018