Chuo Senko to enter Myanmar
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Chuo Senko (Thailand) Plc, an advertising firm, is spreading its wing into Myanmar, with the establishment of subsidiaries to do business in the neighbouring country.
In a filing to the Stock Exchange of Thailand, the company said that its board of directors approved the establishment of six new subsidiaries, at the July 20 meeting.
Three of them will deal directly with the expansion into Myanmar.
Under the resolution, two companies under the same name - Chuo Senko (Myanmar) Co Ltd - will be established in Singapore and Myanmar. The Singaporean unit will be wholly-owned by Chuo Senko Dynamics Co Ltd (ROH), which is 82 per cent owned by the Thai advertising firm and 18 per cent owned by Japan-based Striders Corp. The Singaporean unit will in turn own 100 pe cent in the Myanmar unit.
Chuo Senko also plans to establish AD-Asia Co Ltd in Singapore and Thailand, to extend the client base particularly European and American corporates in Singapore. AD-Asia Co Ltd in Myanmar will be established particularly for clients in the country.
It will also establish RDSS Co Ltd, to offer services in shop design and decoration for retail development and shopper marketing services in Thailand.
