Milestones

SEPTEMBER 2013

Mr. Patrick Ho acquires 90.4 million shares at S$0.18 per share from President Group Limited. This stake represents approximately 73.86% shareholding in Singapore Windsor Holdings Limited and on the same day, Mr. Ho announces a mandatory unconditional cash offer at S$0.18 per share.

NOVEMBER 2013

Share placement exercise of 24.48 million shares at S$0.22 per placement share is successfully completed with an estimated net proceeds of S$5.0 million.

DECEMBER 2013

Entered into a sale and purchase agreement with an unrelated third party to dispose the Group’s lossmaking silicon manganese business for HK$45 million.

MARCH 2014

Completion of the disposal of the silicon manganese business. Announces proposed diversification of the Group’s business presence in South East Asia, specifically in Myanmar.

MAY 2014

The Group announced that it has entered into a joint venture and shareholders agreement with Golden Infrastructure Group Limited, an unrelated third party, to pursue business opportunities in Myanmar’s telecommunication infrastructure sector.

JULY 2014

Appointment of senior executive with extensive business and emerging market development experience, Mr Mark Bedingham, as the Group’s new President and Chief Executive Officer, with effect from January 2015.

The Group announced that it has entered into a joint venture with Arcc Offices Pte Ltd, an unrelated third party, to set up and operate serviced offices and to provide services which are related and ancillary to such serviced offices in Myanmar.

JANUARY 2015

The Group announced a joint venture with Quarto Products Pte Ltd, an unrelated third party, for the purpose of importing food and beverage items from overseas suppliers into Myanmar for onward sale to certain businesses in Myanmar.

MARCH 2015

Proposed disposal of Windsor Holding Investments Ltd. and Windsor Metal Manufacture Co Ltd.

The Group’s serviced office business venture started operating serviced offices at the Hledan Centre in Yangon, with a gross floor area of 1,350 square metres to support 260 work stations across 93 suites.

MAY 2015

SMI’s wholly-owned subsidiary, Myanmar Infrastructure Group Pte. Ltd., entered into a construction and lease agreement with mobile network operator, Ooredoo Myanmar Limited, for the construction of 500 telecommunications towers across Myanmar.

SMI’s wholly-owned subsidiary, SMI Retail Pte. Ltd. entered into a 10-year agreement with DFS Venture Singapore Ltd (“DFSV”), to develop and operate duty free retail outlets at Yangon International Airport and Naypyidaw International Airport.

SMI’s wholly-owned subsidiary, SMI Auto Services Pte. Ltd entered into an International Franchise Agreement with Europcar International, for the exclusive right to use the Europcar brand in the provision of vehicle rental and limousine services throughout Myanmar.

JULY 2015

SMI entered into a sales partnership agreement with Ooredoo Myanmar Ltd to service the business-to-business telecommunications market in Yangon and Mandalay, involving the provision of telecommunications services, technologies and solutions, and the distribution of SIM cards, handsets and tablets to the small and medium enterprise business segment.

DECEMBER 2015

The Group announced a joint venture with Senko, a major logistics group listed on the Japanese stock exchange, to provide logistics and warehousing services in Myanmar. The construction of the first warehouse in Yangon will commence in Q2 CY2016.

The Group signed a long term agreement covering the new terminal at YIA. This will cover a multi-brand and multi-category duty free space (almost 2,000 square meters on three levels) and more than 4,500 square meters of mono-brand fashion, lifestyle and travel retail stores and concepts, all duty free. This will lead to the introduction of more than 30 international brands and will create an exceptional airport retailing experience. In addition, the Group will also introduce two international F&B concepts to YIA.

JANUARY 2016

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.

FEBRUARY 2016

SMI’s wholly-owned subsidiary SMI Rental Services Co Ltd., entered into a long term car rental agreement with Novotel Max Yangon to provide airport transfers and all other transport related services for hotel guests.

March 2016

The Group signed a number of exclusive supply agreements with fashion brands to operate retail outlets in the new terminal at YIA.

SMI’s wholly-owned subsidiary SMI Rental Services Co Ltd., continued to expand its service network by securing a new office in Mandalay. The subsidiary has also secured rights to be the sole provider of car rental services within the newly opened terminal at Yangon International Airport. March saw a good upturn in leisure business passing through the airport.

APRIL 2016

The Group signed a franchise agreement with Crystal Jade Group covering the whole territory of Myanmar. Initially it will manage a Crystal Jade Kitchen restaurant in the new terminal at YIA, followed by two more restaurants in downtown Yangon within the next 12 months. The initial term of the agreement is 10 years, with an option to renew for a further 10 years.

The Group began distribution of imported wines to the hotel/restaurant market shortly after the first shipment arrived in Yangon in April 2016.

JULY 2016

The Group opened its first duty free store in the new terminal at YIA. Approximately 500 square meters of duty free space was opened for business in the first phase.

The Group signed a license agreement with Chikaranomoto Holdings Co. Ltd., covering the whole territory of Myanmar, to develop, manage and operate ramen restaurants under the IPPUDO trademark. The initial term of the agreement is 5 years, with an option to extend it for another 3 years.

SEPTEMBER 2016

The Group opened the second phase of its duty free stores in the new terminal at YIA. Approximately 6,000 square meters of mono-brand luxury stores were opened for business on 3rd Sept 2016.

OCTOBER 2016

SENKOSMI Myanmar Company Limited, SMI's joint venture with Senko Co. Ltd., opened its first warehouse in Yangon's Insein township on 4th Oct 2016.

The Group announced an agreement to divest its telecommunication tower business in Myanmar to Shining Star International Holdings Limited for US$12,707,000.