FMI ‘first and only’ company to list on YSX, says Pun

First Myanmar Investment (FMI) Company will be the first, and for the time being the only, company to launch an initial public offering (IPO) on the Yangon Stock Exchange (YSX) when it opens later this year, according to company chair Serge Pun. Speculation over which firms will attempt to list has intensified as the exchange […]

Myanmar firms compete for place on Yangon Stock Exchange

Yangon – Myanmar will allow five companies to be listed on the Yangon Stock Exchange when it is launched next year, local media reports said Monday. “Six local public companies have applied to be listed on the Yangon Stock Exchange and we have already granted permission to two companies,” Deputy Finance Minister Maung Maung Thein […]

Myanmar Tax Department Says 2,500 Tax-Evading Firms Named in Error

YANGON — The Myanmar government’s tax department has admitted that it mistakenly named nearly 2,500 companies as tax evaders. The Internal Revenue Department (IRD) on March 6 published a list of 10,670 companies that it said had failed to pay taxes for the 2012-13 fiscal year, which ended in March 2013. The list included well […]

Daiwa to help AGD bank’s transformation as public company

YANGON—Japan’s Daiwa Securities Group will assist locally-owned Asia Green Development (AGD) Bank to transform as a public company, sources say. The Memorandum of Understanding (MoU) to proceed with initial public offerings between the two organizations was signed on Monday at Kandawgyi Palace Hotel in Yangon. Daiwa is helping the government to establish a stock market […]

Ayeyarwady ATMs in Myanmar accept MasterCard, Maestro/Cirrus

Myanmar’s Ayeyarwady Bank has announced that its automated teller machines will accept cash withdrawals by customers using MasterCard and Maestro/Cirrus cards. This means more ease and convenience for the million visitors expected to converge on Myanmar during the 27th Southeast Asian Games to be held in Nay Pyi Taw from December 11-22. AYA Bank has […]

Firms face financial accuracy issues ahead of bourse launch

Myanmar companies might not be ready for the scheduled launch of the country’s stock exchange in 2015, officials and experts are warning. The lack of transparency and accounting efficiency on the part of firms wishing to develop initial public offerings could contribute to the slowdown of the much-anticipated launch, they say. Last month, officials developing […]

Banks Wait for Central Bank to Give Go-Ahead to International Cards

Two of Burma’s leading private banks want to begin issuing debit cards that can be used all over the world, but are waiting for the green light to do so from Central Bank, bankers said. Both the Cooperative Bank (CB Bank) and the Asian Green Development (AGD) Bank have teamed up with United States-based bank […]

MoneyGram extends international money transfer to Myanmar

MoneyGram International, Inc. has tied up with Asia Green Development (AGD) bank to facilitate international money-transfer in Myanmar. US based MoneyGram is a leading global money transfer company providing services in 79 countries. According to AGD bank Chairman Than Yi, Myanmar customers can now receive money from around the world at AGD bank branches. In […]