SINGAPORE (Sept 28): shopper360 is making a foray into the business of providing marketing services in the retail and consumer goods industries in Myanmar.

The Malaysia-based shopper marketing services provider entered into a non-binding memorandum of understanding with Pahtama Group Co. for the incorporation of a new joint-venture company in Myanmar.

shopper360 will hold 60% of the total share capital of the JV Co while Pahtama will hold 40%.

Pahtama was established in 1997 in Myanmar, with its head office located in Yangon. Accordingly to its corporate website, Pahtama is one of the largest and fastest growing distribution companies in fast moving consumer goods sector in Myanmar and is currently the exclusive distributor for the products of many multinational companies.

Among other terms under the MoU, shopper360 will provide in-store advertising and digital marketing; field force management; sampling activities and events management; and other related services such as media reselling, shopper technology, trade and business-to-business marketing platforms.

In return, Pahtama will also outsource all of the group’s marketing, advertising and promotional opportunities to the JV Co.

It will contribute its clientele and customer profiles to the JV Co and procure the grant of an exclusive concession by its affiliate, City Mart Holdings Company (CMHL) for the JV Co to conduct in-store media reselling in all stores.

Listed on June 30, shopper360 last closed at 27 cents, giving it a market cap of $30.9 million.

See: shopper360 raises $11 mil through IPO placement, to commence trading on Friday