Family Mandalar seeks Thai partnerships in diverse sectors
Family Mandalar Co Ltd, a leading conglomerate in Myanmar, is eyeing an opportunity to form partnerships with Thai companies as an effort to strengthen its business empire.
Founded in 2008, Yangon-based Family Mandalar Co Ltd is one of Myanmar's leading private companies in the areas of construction materials, health care, tourism and real estate sectors.
"With a fast-growing economic development, we need to enhance technology know-how, expertise and even medical professionals for further business expansion. It's our big challenge," said Soe Myint, managing director, Family Mandalar.
He pointed out that the Mynmar government is changing a lot of rules and regulations, allowing foreign companies to invest in various sectors including health care. Currently, there are about 165 hospitals in Mynmar.
Family Mandalar recently signed a collaborative agreement with World Medical Centre WMC), a branch of Bangkok Chain Hospital (BCH) with an aim at improving medical service standards.
"This collaboration is regarded as our milestone. I do believe WMC is the right place for our people. We're working closely with the EMC team to provide patients with modern medical technique and effcient facilities," said Myint.
Due to changing of economic landscape in Myanmar, especially in the capital of Upper Myanmar, Mandalay in the past two dacades, the Family Mandalar opened its first Mandalar Hospital in 1994 with only 22 beds and without air-conditioned rooms.
At present, the company operates three hospitals, with two in Mandalay and one in in the capital of Shan state, Taunggyi, in 1997. The company is expanding the hospital in Mandalay with the construction of an 11-storey building to cope with the growing demand. The new building will be completed in the first quarter of 2014 and offer 110 beds.
The company is also waiting for the government's approval to open a hospital in Yangon.
In addition to health care service, the company also focuses on manufacturing and tourism sectors. A manufacturing arm, Four Star, is a corrugated Galvanized Iron Sheet Factory specialising in production and distribution of PVC and GI Sheet. Most of those products are now well accepted by regular buyers in markets nationwide, including corporate buyers.
Meanwhile, the Family Mandalar manages New Aye Yar Hotel, a three-star hotel in downtown Yangon featuring 101 rooms and suites and Family Mandalar Travels & Tours.
Myint, however, expected that over the next 3-5 years, Myanmar would require the development of luxury hotels.
