[Myanmar] Malaysian Retailer To Open Department Stores In Burma

Parkson Retail Asia Ltd, a leading Malaysian retail company, has formed a joint venture with Yoma Strategic Holdings Ltd and First Myanmar Investment Co Ltd to open and operate department stores in Burma, according to a report by The Star, a Malaysian daily. The joint-venture company will be a limited liability company incorporated in Singapore, and will have five directors on its board—three appointed by Parkson, plus one each from its two Burmese partners. Parkson currently has 38 outlets in Malaysia, as well as stores in China, Vietnam and Cambodia.