Kirin Seeks Snappier Southeast Asia Deals After Losing F&N

Kirin Holdings Co. wants to become more aggressive in buying Southeast Asian companies after the sale of its stake in Singapore-based conglomerate Fraser & Neave Ltd. stunted its growth in the region. “It has been frustrating especially since we sold our shares in F&N,” Hiroshi Fujikawa, Kirin’s managing director for the region, said in an […]

Bangkok Bank injects $200 million into its Yangon branch

Bangkok Bank demonstrated its optimism in Myanmar’s economic potential through the injection of US$200 million (Bt6.75 billion) into its Yangon branch, a bigger sum than what was brought in by the four foreign banks that have already opened branches here. “This will help us service our customers further, not only in terms of funding but […]

OCBC plans to up capital in 3 years

Opening its branch on Thursday, Singapore’s Oversea-Chinese Banking Corp (OCBC) sees the possibility that the branch’s capital would be raised within three years. On the first day of operations, over 10 accounts were opened. OCBC is the second to open a branch in the country, after the Bank of Tokyo-Mitsubishi UFJ which opened its door […]

Two Japan Banks First Foreign Banks to Open Myanmar Branches

Japan’s two top banks are set to open branches in Myanmar this week, becoming the first foreign banks to set up shop in the country: a place viewed by many as one of the “last frontiers.” Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp. will open branches on Wednesday and Thursday in the center […]

Myanmar to Grant Foreign Banks Licenses by End of September

YANGON — Myanmar will grant foreign banks limited operating licenses by the third quarter of this year, in a bid by the country’s semi-civilian government to attract foreign investment into an economy just emerging from decades of military rule. An official document sent to more than 30 foreign banks with representative offices in Myanmar, and […]