Myanmar-Singapore JV increase investment in aviation fuel import business

Source: Xinhua | 2018-10-26

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.