SINGAPORE WINDSOR HOLDINGS LIMITED | Annual Report 2015
6
CEO’S MESSAGE
DEAR SHAREHOLDERS,
In the last quarter of FY2015,
Singapore Windsor Holdings
Limited
(“Singapore Windsor” or “the Group”) has made a
confident start on our announced new strategy of focused
business development in Myanmar, which saw a great deal
of activity across the range of new businesses that the
Group has started to develop.
The Group’s subsidiary
Myanmar Infrastructure Group
Pte. Ltd. (“MIG”)
participated in the joint tender launched
by Telenor Myanmar and Ooredoo Myanmar, a tender that
was eventually suspended and subsequently cancelled by
both telecom operators, however this experience provided
MIG with excellent preparation in the new tender launched
by Ooredoo Myanmar in March 2015. An agreement to
build-and-lease 500 telecommunication towers has been
signed recently.
The Group has completed the setting up of a joint venture,
SMI F&B Pte Ltd
, with Quarto Products Pte. Ltd. (“Quarto
Products”), which will allow us to participate in the growth
of the hotel and restaurant market within Myanmar’s F&B
industry. Boosted by two senior managers seconded to
this joint venture, our Group can also leverage on Quarto
Products’ distribution network in Myanmar to accelerate
the development and growth of this joint venture.
In FY2015, we established a
joint venture with Arcc Offices
Pte. Ltd.
to manage and operate premium service offices
in Yangon and I am pleased to advise that in March 2015,
we have commenced business operations at the Hledan
Centre in Yangon, with a gross floor area of 1,350 square
metres to support 260 work stations across 93 suites.
Separately, much work has been done with the Yangon
International Airport (“YIA”) and Naypyidaw Airport
management company to tie-up with a major duty free
operator in order for the Group’s subsidiary,
SMI Retail
Pte. Ltd.
to take over and develop the retail space and
management of all the duty free operations at these
airports, including the duty free concessions at the new
terminal at YIA. These discussions were successfully
concluded in May 2015.
The Group has made every effort to strengthen the
management team supporting the
SANY
construction
equipment agency and the confirmation from the
manufacturer that our construction subsidiary has the
representation of the full portfolio was highly welcomed.
This business segment will be well positioned to take
advantage of the development of construction and
infrastructure activities in Myanmar.
The business prospects based on the
businesses that the Group has set up in
Myanmar in the last quarter of FY2015 and
the new business being established in the
early part of FY2016 looks to hold much
promise for the year ahead.
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