In Burma, a Fine Line Between CSR and Karmic Cash

RANGOON — It was perhaps inevitable that Burma’s business sector would struggle with the idea of corporate social responsibility (CSR), operating in a country of high charitable giving and stark contrasts between its wealthiest and poorest citizens. At least in part, this stems from the reality that CSR, as a concept, has only caught on […]

Review Team Orders Dagon High-Rise Redesign

RANGOON — Work is set to resume at several Dagon City development projects on Thursday after the expiry of a four week building halt, with one company ordered to modify its construction plans in order to safeguard the nearby Signal Pagoda. While a report on the projects has yet to be made public, officials negotiated […]

Myanmar Banker: We Can Learn a Lot From Indonesia

Business leaders from across Asia will be at the World Economic Forum on East Asia in Manila later this week to discuss investment opportunities in the region. Myanmar, a nation of almost 60 million people, is welcoming foreign investment as it is trying to transform itself into an economy that can compete with the rest […]

Kanbawza Bank pays Ks 22 billion in advance tax

Kanbawza Bank Ltd, the largest private bank in Myanmar, has paid Ks 22 billion (US $ 22 million) in advance tax for the fiscal year 2014-15, according to its chairperson Aung Ko Win. The bank topped the list of income-tax paying companies in 2012-13 after paying Ks 10 billion (US$ 10 million) for income tax […]

Banking on Myanmar’s Future

YANGON — Kanbawza (KBZ) Bank has weathered some severe storms since it was established in 1994, but now stands as Myanmar’s largest privately owned financial institution, with an estimated 94 billion kyat (US$94 million) in capital. Its founder, Aung Ko Win, is a former teacher with close ties to now-retired Vice Snr-Gen Maung Aye, one […]

Myanmar’s Aviation Industry Booms Despite Grim Safety Record

KONEMOE, Shan State — Htay Aung was riding pillion on a motorbike last Christmas morning, wending through the cool hills of eastern Burma, when Air Bagan Flight 11 came down on top of him. The Fokker 100—more than 24 tons of aircraft, plus 65 passengers and six crew—sheared its way through trees and power lines, […]