Myanmar’s KBZ Bank picks S’pore as launch pad to region

One of Myanmar’s biggest privately owned banks aims to use Singapore’s prime location as a launch pad to expand its commercial presence in the region. U Nyo Myint, senior managing director of Kanbawza Bank (KBZ Bank), said yesterday: “The bank is one of the most successful banks in Myanmar and we would like to expand […]

OCK secures US$40.2mil financing for Myanmar telco project

KUALA LUMPUR: OCK Group Bhd, which in December inked a deal with Telenor Myanmar Ltd to build 920 telecommunications towers in Myanmar, has clinched a syndicated term loan facility of up to US$40.2mil (RM163.9mil) for the project. The telecommunications network service provider said in a statement that its unit OCK Yangon Pte Ltd had signed […]

How ASEAN is adapting to a democratic Myanmar

Aung San Suu Kyi will land in Bangkok for the first time since her triumphant 2015 election victory on June 23. Her Thai military hosts know something about elections: They tend not to respect their outcomes. As Myanmar’s democratic icon knows well, if you want to do high-level diplomatic business in Southeast Asia then you […]

Texchem expands into Myanmar’s marine products markets

Kuala Lumpur (April 1): Texchem Resources Bhd is venturing into the procurement and marketing of marine products such as soft shell crabs, prawns and hamaguri, the common orient clams, in Myanmar. In a filing with Bursa Malaysia today, Texchem said its unit Texchem Food Sdn Bhd has inked a joint venture agreement (JVA) with E-Sprint […]

Myanmar-Japan joint venture applies for airline licence

Myanmar’s already cluttered airline industry could be about to welcome another carrier into its ranks. Japan’s ANA Holdings and Shwe Than Lwin-owned Golden Sky World have formed a joint venture and applied to set up an international airline, according to a transport ministry official. The joint venture submitted a “late application” to the outgoing government, […]

New MPs to inherit host of issues in Myanmar

Rookie MP Tin Ko Ko Oo spends his free time poring over training manuals, learning English and studying a much-thumbed Burmese-English copy of Myanmar’s Constitution. “It’s like going back to university, but not as easy,” he said in his modest office allotted to MPs in a leafy compound in Naypyitaw. “Now we have responsibilities; we […]

Arcc Launches Serviced Office Spaces in Yangon

Arcc Offices, a Singapore-based serviced office provider, has opened their first offices in Yangon on September 17. These offices are located on the sixth floor of Hledan Centre in midtown Yangon. All the offices are provided with furniture, office equipment and internet facilities. Paola Orneli, general manager of Arcc Offices, said many international investors are […]

Almost US$20 billion in dirty money left Myanmar in five decades – researchers

KUALA LUMPUR (Thomson Reuters Foundation) – Almost US$20 billion (13 billion pounds) in dirty money linked to corruption, crime and tax evasion has left Myanmar in the past five decades, slashing government revenue and driving a thriving underground economy, a money-laundering watchdog said on Wednesday. Fraudulent invoicing of trade deals and physical smuggling of drugs, […]

Malaysia’s Naim Indah seeks to develop office building in Myanmar

KUALA LUMPUR: Naim Indah Corp Bhd’s unit Naim Indah City Development Sdn Bhd plans to develop a 32-storey office tower in Yangon, Myanmar, through a joint venture. The property developer and manager told Bursa Malaysia that it had inked a memorandum of understanding (MoU) with United Pacific Development Co Ltd to build on the land […]

ANZ and Woodside lead the investment in Myanmar

It’s closing in on midnight when our taxi pulls up outside a run-down apartment block on the edge of central business district of Myanmar’s commercial hub and former capital Yangon. The attendant lounging on a chair out front, shows us up a short flight of stairs to the entrance; down the end of the corridor, […]