Singapore Myanmar Investco - Signs 3-year exclusive distribution agreement with Shiseido APAC
- Singapore Myanmar Investco (SMI) announced yesterday evening that it has signed an exclusive distribution agreement with Shiseido Asia Pacific to distribute and market Shiseido products in Myanmar.
- Shiseido Asia Pacific holds its international luxury brand “SHISEIDO” as well as other brands under its product portfolio, which includes high quality, premium skincare, makeup, cosmetics, fragrance and personal care products.
- The distribution period is for three years and can be extended by mutual agreement for two more years. We believe this further demonstrates the confidence of established international companies towards SMI’s experience and strong distribution capabilities in Myanmar.
- In view of SMI’s portfolio of businesses, we remain positive on the group’s growth prospects as it is attractively positioned to capitalize on the high-growth trends in consumer spending, international tourism, and infrastructure investment in Myanmar.
- Reiterate BUY with a fair value estimate of S$0.97.