The Group signed a franchise agreement with The Coffee Bean & Teal Leaf (CBTL) to operate two
CBTL outlets in the new terminal at YIA. The initial term of the agreement is five years, with an option
to renew for two additional periods of five years each.
The Group’s local business partner obtained an FL-11 wine import and distribution license, a difficult
license to obtain in Myanmar.
SMI’s wholly-owned subsidiary SMI Rental Services Co Ltd., entered into a long term car rental agreement
with SMART Group of Companies, that work on behalf of Shell and other Oil & Gas companies. The
subsidiary is also providing services on an ad-hoc basis, to TBR, Chevron and CNQC. This is in addition
to previous account successes with companies such as Telenor, KPMG Myanmar, GE, Philips Myanmar, Brunei
Petroleum, ZTE, Nippon Koei Group and Savoy Hotel Yangon. The subsidiary opened a counter/desk at Hledan
Center, a premium mixed-use property.