More transparency needed from local business: MCRB

A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required – according to a recent report from the Myanmar Centre for Responsible Business (MCRB). There is huge variation in the approach Myanmar’s […]

Myanmar’s best-known business house is joining up with multinationals

THE maroon hot-air balloons which carry tourists over Bagan—an ancient city teeming with crumbling red-brick temples—are famous in Myanmar. The fleet belongs to one of the country’s best-known tycoons. Since the pariah nation began to open up in 2011, Serge Pun has gradually transformed an empire built on property into a conglomerate with interests in […]

Real estate market slowdown helps dent FMI annual profits

First Myanmar Investments (FMI) published its annual financial results yesterday, showing a severe drop in net profits. The great bulk of the fall was down to a group restructuring the previous year, although a “stagnant” property market also hurt the firm’s bottom line. The latest annual report was FMI’s first as a listed company, having launched its shares on […]

Thilawa Holdings lays out risks pre-IPO

Myanmar Thilawa SEZ Holdings (MTSH) has received the green light to list on the Yangon Stock Exchange and has published its disclosure documents, which detail its key shareholders, earnings and the main risks facing the company. The firm, established in 2013 by a nine-shareholder consortium, will launch its shares on the exchange on May 20, […]

Sales for Nay Pyi Taw’s Krisplaza start in Yangon

The backers of Krisplaza in Nay Pyi Taw have launched sales of the project in Yangon, aiming to bring condo living to the country’s capital. The development is a joint venture between Krislite and First Myanmar Investments (FMI), marking the first time the latter company’s retail arm has stretched beyond Yangon. The two-tower, 10-storey development […]

Serge Pun Constructs A Real-Estate Empire In Myanmar

The road to Star City is a rutted two-lane highway that threads past the ragtag outskirts of Yangon, crosses two rusted bridges and ends, almost an hour later, at a slick showroom on a grassy riverbank. A roadside billboard welcomes me to “A Model City of Tomorrow.” After a bumpy ride in monsoon rains the […]