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TA Corp’s Myanmar JV opens $5.6 mil HQ

By Michael Lim

/ The Edge Property |

May 18, 2017 10:00 AM SGT

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Myanmar Synergy, which is 50%-owned by TA Corp, has opened its $5.6 million purpose-built two-storey building on a 5.4-acre site in the Anawartha Industrial Zone in Hlaing Thar Yar Township, in western Yangon, Myanmar.

The building, which has a total floor area of 43,200 sq ft, will house Myanmar Synergy’s corporate head office. It will have an office area, a workshop with service and training facilities, a warehouse and a showroom. Next to the main building is a 23,000 sq ft car park for vehicles and equipment.

Myanmar Synergy is the main distributor of IVECO commercial vehicles such as trucks, buses and vans, and construction equipment such as bulldozers, tractors and excavators from CASE Construction Equipment.

According to TA Corp, the Myanmar market is becoming a key revenue driver for the group’s distribution business in Southeast Asia, especially in Singapore, Myanmar and Thailand. Its revenue grew 23.4% to $21.6 million in FY2016 ended Dec 31 and accounted for 11.1% of total revenue. For the first quarter ended March 31, revenue contributions from the group’s distribution business rose 20.3% to $7.1 million.

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