FTSE 100 listed advertising multinational WPP has reported that Y&R Advertising has opened Y&R Yangon, making it one of the first international networks to open a majority-owned advertising agency in Myanmar.
The group said that Y&R Yangon represented a joint venture with local partner K-Noke Advertising and would be led by Khin Myat Thu as General Manager, John Kyaw Myo Htun as New Business Development Director, and Aung Kyaw Oo as Director.
WPP said that the investment represented a further step towards its goal of developing businesses in the fast growing economies of Asia Pacific, as well as Latin America, Africa and the Middle East, Central and Eastern Europe.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
WPP's businesses including associates in the Asia Pacific region generate revenues of $5.0bn and employ approximately 47,000 people.
MF
-
British Airways revamps Avios scheme bringing down flight prices to £1With the new Avios part-payments scheme you can now bag a British Airways flight for as little as £1
-
RBS to close a fifth of branchesRoyal Bank of Scotland plans to shut 18 branches across Scotland, resulting in the loss of 105 jobs. We have the full list of closures.
