TSL Auto Corporation, a luxury car importer, will open a showroom and service centre in Myanmar next month in preparation for the launch of the Asean Economic Community in 2016.
Construction is 90% complete for the company's first foray outside Thailand.
After teaming up with Myanmar-based partners, TSL invested 35 million baht to build the showroom and integrated maintenance and body repair service centre in Yangon.
SMRT Myanmar was set up as a joint venture, with TSL holding a 40% stake and MK Group of Companies (Myanmar) the rest.
Founded 20 years ago, MK specialises in supplying high-end fashion products to Myanmar's market, while TSL has expertise in luxury cars.
"We also have a new high-end car distribution business, but concentration will be put on the car maintenance and body repair service," said TSL chief executive Sureeporn Udompolpanich.
The workshop, built on two rai of land, is equipped with six working bays providing a full range of services similar to those in Thailand, such as engine tuning, maintenance, repairs, body painting, window film, tyres, spare parts, lubricating oil and decorative items.
Servicing will be provided for imported European car brands, which are very popular in Myanmar.
The facilities will be staffed by 12 workers, mostly skilled Thai technicians and mechanics.
Ms Sureeporn said the joint venture is forecast to post revenue of US$800,000 per year and break even within 2-3 years.
The venture, approved by Myanmar authorities, will enjoy zero tax for machinery and equipment imports for eight years so long as TSL maintains an interest in the joint venture of more than 35%.
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- Writer: Santan Santivimolnat