Singapore - US-listed Yum! Brands Inc., together with Singapore-listed Yoma Strategic Holdings, announced on Monday its intentions to bring the first KFC restaurant to Myanmar in 2015 with Yoma Strategic as its franchise partner.
"Bringing KFC to Myanmar is an important step to achieving Yoma Strategic's goal in being a key player in the country's food and beverage sector," Mr. Serge Pun, executive chairman of Yoma Strategic, said in the comany's statement to the Singapore Exchange.
It added that KFC is among the first handful of quick service restaurants that have plans to enter the Myanmar market.
Yoma Strategic also has real estate, agriculture, automotive and luxury tourism businesses in Myanmar, including the country'sfirst international department store, Parkson.
"The consumer and retail sector is key to Yoma Strategic's strategy to capture the rapid increase in discretionary consumer spending in the country and KFC is the cornerstone of our business platform in this space," Mr Pun added in the statement.