SINGAPORE (June 4): Singapore Myanmar Investco (SMI) and its 97%-owned subsidiary Myanmar Infrastructure Group have entered into an agreement for the proposed disposal of its entire interest in TPR Myanmar for US$10.8 million ($14.4 million) in cash.

The proposed disposal to independent third party purchaser Tiger Infrastructure will comprise the SMI’s 99.9% stake in TPR Myanmar, as well as all tower stock and power equipment stock held by TPR in its warehouse and at the port.

In a filing to SGX on Monday, SMI says the proposed disposal will allow the company to focus its efforts on less capital intensive and potentially better performing business segments, such as its duty-free and retail business.

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