KBZ wins permission from Central Bank of Malaysia to open office in KL

KANBAWZA (KBZ) Bank announced yesterday that it got the nod from the Central Bank of Malaysia on Tuesday to open a representative office in Kuala Lumpur. “We will open the representative office in Kuala Lumpur in Malaysia in the near future. We will announce the place for the representative office and the date for the […]

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 […]

YSX debates bank disclosure ahead of MCB listing

As Myanmar Citizens Bank prepares to become the first lender listed on Yangon’s stock exchange, bourse officials are still debating just what level of financial disclosure listing banks should have to provide. Any company intending to launch shares on the YSX has to meet disclosure requirements more onerous than any others demanded under domestic Myanmar regulation. In […]

Myanmar’s Kanbawza Bank opens office in Bangkok

KBZ representative office has been opened at Sathorn Square Office Tower. (Photo courtesy of Kanbawza Bank) Kanbawza Bank (KBZ Bank) has opened a representative office in Bangkok, the first Myanmar bank to establish an international presence. Earlier this year, KBZ Bank officially received a licence from the Bank of Thailand to open the office in […]

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 […]

KBZ launches Yangon stock exchange settlement system

Kanbawza Bank signed yesterday with the Yangon Stock Exchange (YSX) to run settlement and clearing operations for Myanmar’s first modern bourse. Last April the bank was chosen from among six local private banks who applied for the role to the Securities and Exchange Commission (SECM) of Myanmar. It will be responsible for delivering payments for […]

SECM Warns Against Illegal Trade as Stock Exchange Readies for Business

The Securities and Exchange Commission of Myanmar (SECM) issued a warning on Wednesday against illegal trading through unofficial channels. An announcement published in state-run daily The Global New Light of Myanmar cautioned that action will be taken against those caught selling stocks through illegal or “non-transparent means,” including over social media sites. The Yangon Stock […]

Kanbawza Group eyes OTC market

Kanbawza Group is hoping to set up its own OTC market next year, with two of its entities already granted separate licences to operate as an underwriter and settlement bank for Yangon’s new stock exchange. The group is hoping to set up an OTC market early next year, and is looking for companies to collaborate […]

KBZ Group Eyes “Digital Transformation” with Microsoft Tie Up

Local conglomerate Kanbawza (KBZ) Group is set to modernise its IT infrastructure with Microsoft solutions in a bid to enhance productivity and improve customer service. The “Enterprise Agreement” with KBZ is the largest of Microsoft’s IT deal in Myanmar to date. KBZ Bank, the group’s subsidiary and the largest commercial bank in the country, will […]

KBZ plans Singapore, Thailand representative offices

KBZ, the largest domestic private bank, plans to open representative offices in Thailand and Singapore by October, according to KBZ senior managing director U Than Cho. The bank is holding discussions with authorities and working on submitting the necessary documents, he said. “We are urgently trying to open them. It looks like [the Singapore office] […]