Thai advertising giant enters Myanmar

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Myanmar advertisingA leading Thai advertising company, Chuo Senko (Thailand) Public Co Ltd, has established two new indirect subsidiaries in Myanmar, Red Bull Co Ltd and Chilli Advertising Co Ltd, in Yangon, the firm said in a filing to the Stock Exchange of Thailand.

Both subsidiaries, which aim to provide advertising services in the booming Southeast Asian country, are planned to start operating in December 2013.

The advertising giant will invest $50,000 in each of the subsidiaries while Ad Asia Singapore Pte Ltd, which is 100-per cent owned by Chuo Senko Dynamics Co Ltd, holds the total shares in these subsidiaries.

“The source of funding for the two subsidiaries established in Myanmar derived from the cash flow of Ad Asia Singapore Pte Ltd,” said Kiichi Okuyama, director and chief financial officer of Chuo Senko (Thailand).

Myanmar is the latest country to join Chuo Senko’s network, which already includes Vietnam, Malaysia, Cambodia, Indonesia and Thailand. The Yangon-based units are expected to generate profits next year, according to previous reports.

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Reading Time: 1 minute

A leading Thai advertising company, Chuo Senko (Thailand) Public Co Ltd, has established two new indirect subsidiaries in Myanmar, Red Bull Co Ltd and Chilli Advertising Co Ltd, in Yangon, the firm said in a filing to the Stock Exchange of Thailand.

Reading Time: 1 minute

Myanmar advertisingA leading Thai advertising company, Chuo Senko (Thailand) Public Co Ltd, has established two new indirect subsidiaries in Myanmar, Red Bull Co Ltd and Chilli Advertising Co Ltd, in Yangon, the firm said in a filing to the Stock Exchange of Thailand.

Both subsidiaries, which aim to provide advertising services in the booming Southeast Asian country, are planned to start operating in December 2013.

The advertising giant will invest $50,000 in each of the subsidiaries while Ad Asia Singapore Pte Ltd, which is 100-per cent owned by Chuo Senko Dynamics Co Ltd, holds the total shares in these subsidiaries.

“The source of funding for the two subsidiaries established in Myanmar derived from the cash flow of Ad Asia Singapore Pte Ltd,” said Kiichi Okuyama, director and chief financial officer of Chuo Senko (Thailand).

Myanmar is the latest country to join Chuo Senko’s network, which already includes Vietnam, Malaysia, Cambodia, Indonesia and Thailand. The Yangon-based units are expected to generate profits next year, according to previous reports.

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