Myanmar has too many banks

The domestic market is still underserved by local banks despite a large number being approved to open in recent years, according to experts. Shwe Rural and Urban Development Bank, tied by local media to conglomerate Shwe Thanlwin led by tycoon U Kyaw Win, is the latest local bank to receive a private banking licence in […]

PTTEP to invest $3.3b in oil and gas projects

State-owned Thai oil firm PTT Exploration and Production Plc (PTTEP) will spend US$3.3 billion over the next five years to develop gas projects throughout Myanmar, company executives announced last week. The firm, one of Thailand’s largest, currently has funds in seven oil and gas projects in the country and plans in part to use its […]