Under the partnership, SMRT Strides Toyotsu Alliance will take 60 percent of stakes in the joint venture, Toyota Tsusho Asia Pacific ( a member of the Toyota Group of Companies) and Alliance Urban Transport (AUT) will split the rest equally, at 20pc each.

AUT is a local company and partly owned by Elite Telecom Public Company Limited and JFQ Capital, to which SMRT Taxis is the consultant for their vocational school in Yangon. Strides is a subsidiary of SMRT Corp.

“As Myanmar is developing its economy, the country has been accepting economic travellers. So we thought that to give limousine service is becoming needed. We want to fulfil and Myanmar needs a good and reliable limousine rental service,” said Tony Heng, SMRT managing director.

These limousines are expected to commence operations in the first quarter of next year.

The company did not provide the amount of investments, but said they will bring in more than 100 vehicles in the next two years.

“The cars will be Toyota brand because as so many taxis are Toyota Probox models in Yangon. But, depending on the market demand, we will use other luxury brands. We will continue the review for the market require,” Mr Heng said.

Source: https://www.mmtimes.com/news/singapore-firm-launch-limousine-services-yangon.html