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YHI sets up Myanmar JV company to develop automobile, industrial products

PC Lee Published on Tue, Oct 10, 2017 / 9:07 PM GMT+8

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SINGAPORE (Oct 10): YHI International has entered into a joint venture agreement with Aung San Company to develop and market automobile and industrial products in Myanmar.

The JV agreement was signed between subsidiary YHI Corporation (Singapore) and Aung San Company Limited, a company which deals with the import of automobile products such as wheels, tyres, accessories, spare parts and general merchandise.

Under the deal, YHI Corporation and Aung San will incorporate a new joint venture company called YHI Aung (Myanmar) Company. YHI Corporation will contribute 19% of the initial paid-up capital of US$19,000 ($25,777) while Aung San will contribute 81% of the initial paid-up capital of US$81,000. YHI Corporation may increase its shareholding in the JVC up to a maximum of 51%.