Myanmar-Singapore JV increase investment in aviation fuel import business
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E-mail Xinhua, October 25, 2018
YANGON, Oct. 25 (Xinhua) -- A Myanmar-Singapore joint venture company has increased its capital injection by 10.2 million U.S. dollars in aviation fuel import, storage and distribution businesses, the official Global New Light of Myanmar reported Friday.
The National Energy Puma Aviation Services Company is shared by state-owned Myanmar Petroleum Products Enterprises and Singapore-based Puma Energy with the Myanmar enterprise company holding more stake.
With an initial capital of 106.02 million U.S. dollars, the joint venture business is operating Yangon's Thanlyin Liquified Petroleum Gas Terminal since March 2016, the Directorate of Investment and Company Administration was quoted as saying.
According to official statistics, oil and gas sector topped Myanmar's foreign investment with 22.41 billion U.S. dollars, accounting for 29 percent of the total of 77.285 billion dollars at the end of August 2018 since late 1988. Enditem
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