US terminated remaining sanctions against Myanmar on 7 Oct 2016

On 7th October 2016 – President Obama signed the Executive Order to terminate the remaining economic and financial sanctions against Myanmar that make it very difficult for US banks, financial institutions and companies to do business with Myanmar. That means the following group of people and entities have been removed from the US Sanction List […]

Complete List of 204 entities and individuals removed from the US Sanction List for Burma

The following deletions have been made to OFAC’s SDN List for Burma as of 7/10/2016:   STATE PEACE AND DEVELOPMENT COUNCIL OF BURMA [BURMA].   SHWE, Than; DOB 02 Feb 1935; alt. DOB 02 Feb 1933; nationality Burma; citizen Burma; Senior General, Minister of Defense and Commander-in-Chief of Defense Services; Chairman, State Peace and Development […]

Time to re-look your investment plan in Myanmar as Obama pledges to lift all remaining sanctions against Myanmar

President Obama this morning pledge that the US will lift all remaining sanction s against Myanmar after meeting Daw Aung San Suu Kyi at the Oval Office.   Currently the last remaining Myanmar tycoons on the SDN List are Steven Law of the Asia World Group U Zaw Zaw of the Max Myanmar Group U […]

US eases Myanmar sanction to aid business

Photo Credit: File Photo from Nov. 14, 2014  meeting between Obama and Aung San Suu Kyi in Yangon (Nyein Chan Naing / European Press Photo Agency) The US government has removed 3 government banks and 7 government agencies responsible for promoting investment and export in various sectors of this resource rich country off the sanction […]

Dawei residents protest against $3 billion oil refinery

A collection of civil society groups in the southern city of Dawei has begun to actively protest a Chinese-led US$3 billion proposal to build Myanmar’s largest oil refinery on their doorstep. Local businesses, civil society organisations and villagers are circulating a petition calling for the new National League for Democracy-led government to reconsider the project […]

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 […]

Military-linked tycoons claim political middle ground

Despite decades of benefiting from connections within the military and ruling Union Solidarity and Development Party (USDP), many of Myanmar’s leading conglomerates have claimed to be politically neutral.   Spokespeople for some of the country’s most successful companies including Asia World, Htoo Group, Kanbawza (KBZ) Group and Max Myanmar said as private businesses they had […]

YSX provisional licences awarded

Eight companies have been offered conditional underwriting licences for the Yangon Stock Exchange, subject to paid-up capital. The exchange, which is owned by state-owned Myanma Economic Bank, Daiwa Institute of Research and Japan Exchange Group, is due to open in December. Companies including AYA Bank, Daiwa Securities Group and United Amara Bank were offered provisional […]

Coal power projects to be delayed

All of Myamar’s planned coal-fired power projects are likely to be delayed beyond the general election, which is set to be held on November 8, according to officials. A memorandum of understanding (MoU) for 11 coal-fired power plants was signed between the Ministry of Electric Power (MOEP) and local and international private companies in 2010, […]

Tycoon Tay Za announces uranium purchase

Tay Za, chairman of Htoo Group of Companies, said at a press release at his residence on January 19 that he has purchased uranium-bearing ores weighing 3.5 visses. He said he brought the ores at a price of Ks 20 million per viss from lapidaries Aung Naing from Mogok and Nyunt Wai from Phone-Kan village, […]