Myanmar’s 5 growth sectors highlighted

INFRASTRUCTURE, ICT, agriculture and processing, manufacturing and tourism are highlighted as the most attractive sectors for Thai investors looking to establish a presence in Myanmar. At a seminar hosted yesterday by Bangkok Bank, Nattawin Pongpetrarat, vice chairman of the Thai Business Association of Myanmar, said a large number of infrastructure projects ranging from roads to […]

Aeon’s Myanmar bid highlights supermarket uncertainty

Japanese retail giant Aeon’s ambitions in Myanmar’s lucrative retail sector have highlighted uncertainty about what foreign firms are allowed to do as far as trading is concerned, with local industry heads calling for more clarity and a level playing field for domestic and international players. Aeon has provided most of the US$8.1 million in capital […]

BBL pleased as punch in Myanmar

People use services at a Bangkok Bank branch in Bangkok. In neighbouring Myanmar, BBL is content so far with loan growth at its Yangon branch. PATIPAT JANTHONG Bangkok Bank (BBL), the country’s largest lender by assets, expects better than expected loan growth at its Yangon branch this year based on strong demand from both local and […]

Bangkok Bank reveals challenges of operating in Myanmar

AFTER A YEAR of operating a branch in Myanmar, Bangkok Bank says it has learned that it has to put more effort into doing business there than in other countries because the long isolation of Myanmar in the past means there are few examples of how foreign companies there resolve problems. BBL had operated a […]

FMI increases capital to Yoma Bank

First Myanmar Investment (FMI) has increased its capital contribution to its subsidiary Yoma Bank by almost K9.6 billion, after accepting a loan facility from Bangkok Bank, said a company announcement yesterday. FMI, owned by businessperson Serge Pun, is the first and only company to list on the Yangon Stock Exchange and owns a 51 percent […]

Frontier Markets: Myanmar, Explosive GDP Growth

The reason I’m revisiting Myanmar is because recently the State Bank of India (SBIN), together with the Vietnam Bank for Investment and Development, Taiwan’s E SUN Commercial Bank (2884:TT), and South Korea’s Shinhan Bank, were all granted permits to operate in that country. Last year, the first round of permits were granted to ANZ Banking […]

Myanmar admits more foreign banks ahead of NLD accession

BANGKOK — Myanmar has given preliminary operating licenses to four more foreign banks, following the government’s decision in late 2014 to grant licenses to an initial nine foreign banks. The move — just before a new administration led by Aung San Suu Kyi takes over on April 1 — highlights a rush by the incumbent […]

No Thai banks among 2nd round of Myanmar licensees

YANGON – No Thailand banks were among 13 institutions that answered a call from Myanmar’s central bank for expressions of interest in a second round of foreign bank licensing aimed at further liberalising a sector that was previously off-limits to international players. Eight of the banks listed in an official central bank statement on Feb […]

Myanmar oil and gas: Going against the flow

For the first time since 2004, both the price Brent Crude and US crude have fallen below $30 a barrel. Many oil and gas production centres are floundering amidst the current crisis, yet one South East Asian nation is experiencing record growth in its energy sector. Over the past 24 months, significant foreign direct investment […]

Vietnam’s BIDV says will be prioritised in next Myanmar bank licence issue

BIDV, Vietnam’s biggest partly private lender by assets, said on Wednesday it would be prioritised in the next issue of banking licences by Myanmar, citing comments by the country’s president during a meeting with the bank’s chairman. BIDV, which wants to open a branch in Myanmar having failed in the first license issue, said more […]