The Singapore Embassy in Yangon has asked Exera Myanmar to provide security guarding services in the next three years.

The tendered price is US$478,329 for the initial period of three years and US$182,521 for the extension period of one year.

Yangon-based Exera is a safety and security services provider and a fully-owned subsidiary of London-listed Myanmar Strategic Holdings, which invests in consumer and education businesses in the country. MSH acquired the security firm last May for US$2.2 million.

CEO Mark Wakeford, who was appointed last October, said the company will continue to “expand our coverage of other international embassies and NGOs across the country.”

Momentum is gradually building up for the security market as foreign and domestic investors increasingly appreciate the need to protect their investments and their people, commented MSH CEO Enrico Cesenni.

Currently, Exera has 1200 staff working on 130 sites across Myanmar. The company generated unaudited revenues of approximately $4 million for the year ended March 31, 2018.

It is believed that the Chinese Embassy in Yangon has hired Frontier Services Group (FSG), founded by former US military contractor Erik Prince, to provide security services. Guards in front of the embassy were seen in FSG uniforms lately.

FSG told The Myanmar Times in March that it is moving into the country to provide security services to Chinese and other foreign investors through a joint-venture security company FSG (Myanmar) Security Services Co Ltd.

Other international security providers operational here are IDG Myanmar and Atalian Global Services Myanmar.