FairPrice to close Myanmar supermar

[moe@xxxxxxxxxxxxx]

FairPrice to close Myanmar supermarket 

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NTUC FairPrice is scaling down the operations of its joint venture in Myanmar. 

A Television Corporation of Singapore report last night said NTUC is closing
its Myanmar FairPrice supermarket store in Yangon at the end of this month.
Over a dozen staff will be retrenched. 

Myanmar FairPrice -- a joint venture with a state-owned corporation -- has
been in operation for three years. The store's customers include the
expatriate community in the country. 

TCS News said import controls imposed last year by the Myanmar government
have affected the business of the venture. Since then, the venture has found
it difficult to import enough goods from Singapore. 

While the supermarket will be closed, the joint venture will continue its
trading operations in Yangon. It will source Myanmar products, such as
seafood, fruits and vegetables, for NTUC outlets in Singapore. 


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