Myanmar Payment Union to Upgrade ATM Card System

RANGOON — The Myanmar Payment Union (MPU) signed with Vietnamese telecom multinational FPT and the National Payment Corporation of Vietnam (NAPAS) on Sunday to initiate a financial switching system, Zaw Lin Htut, chief executive officer of the MPU, told The Irrawaddy. As MPU’s partners, FPT and NAPAS will—starting this year—help facilitate a system upgrade for ATM […]

Second YSX listing delayed until May

The firm, which is expected to be the second to move its shares onto Myanmar’s new exchange, has not yet received approval from the YSX to list, said Kensuke Yazu, Myanmar representative for the Japan Exchange Group, which co-owns the stock exchange. First Myanmar Investment became the first firm to list on the exchange on […]

WHA eyes expansion into Asean, Myanmar

Stock Exchange of Thailand-listed WHA Corporation will set up fully integrated models in its four core businesses to meet expanding investment in ASEAN, though Myanmar investment will depend on the final election result. The company has restructured its operation over the past year to increase its efficiency, compete better internationally and meet rising demand, said […]

Myanmar allows more Asian firms to produce wood products and foodstuff

YANGON—Firms from Thailand, Hong Kong, India and Singapore will make a joint effort with their Myanmar counterparts to produce advanced wood products and foodstuffs in accordance with the Foreign Investment Law, reports say. The production processes will be implemented in Dagon Seikkan and Hlaingthayar industrial zones in Yangon Region, and in Katha Township of Sagaing […]

Thailand PTTEP assures transparency in Myanmar investments

PTT Exploration and Production Plc (PTTEP) have given assurances that its five-year US$3 billion investment on oil exploration in Myanmar will be transparent. Tevin Vongvanich, PTTEP president and chief executive, said the US$3 billion allocation would be part of the company’s US$25 billion investment to produce 600,000 barrels of oil in 2020. The major portion […]

Myanmar approves manufacturing and distribution of Nissan cars

Myanmar Investment Commission has approved the manufacturing and distribution of Nissan cars in Myanmar by Tan Chong Motor (Myanmar) Co Ltd on August 15, according to a report from the Ministry of National Planning and Economic Development. Malaysia-based Tan Chong Motor Holdings Bhd (TCMH), the business partner of Japan’s Nissan Motor, has engaged in discussion […]