Claims Big Response on Myanmar’s First Black Friday

Local online retailer said it has racked up “unprecedented order numbers and sales figures” without releasing any actual sales figures. The Rocket Internet-backed company claimed it got “as many orders as it does in three months during the Black Friday sale.” The first ever Black Friday sales of Myanmar was launched in partnership with […]

Frontier markets beckon, but there are bullets to dodge

By Jose B. Collazo And Curtis S. Chin For The Straits Times S.e.a. View As China’s economy continues to slow, businesses may find new opportunities in South-east Asia as the Asean Economic Community’s (AEC) end-of-2015 launch date approaches. The AEC promises a 10-nation market and new opportunities and returns. Yet, investor beware. The findings of […]

Standard Chartered Bank holds first anti-money laundering workshop in Myanmar

YANGON—The UK’s Standard Chartered Bank confirmed today that it recently held the first in a series of joint workshops aimed at helping Myanmar tackle the global issue of money laundering and enhance the country’s efforts to re-integrate with the global financial system. Prudential, a UK-based financial services company, co-organised the workshop in partnership with the […]

Lotte Chilsung to sell drink products in Myanmar

YANGON – South Korea-based Lotte Chilsung will distribute and sell soft drink products in partnership with US-based PEPSICO, according to the Directorate of Investment and Companies Administration (DICA). The company applied for permission to open a branch office for distributing and selling its products in Myanmar. The Lotte Chilsung Beverages is one of Asia’s largest […]

Telenor Still Negotiating With Myanmar Govt Over Telecoms License

YANGON — Myanmar’s much-anticipated foreign-offered mobile telecommunications services are unlikely to be available before August 2014, as negotiations continue over finalizing network operator licenses and related telecoms rules. “We are in discussions with the government about the draft license and we expect that to complete by the end of this year,” Telenor Myanmar CEO Petter […]

Yangon More Expensive Than Manhattan Sparking Boom: Real Estate

Sean Danley has spent the past six months scouting office space in Yangon after being sent to establish the Myanmar branch of his U.S.-based employer. He looked in the city’s three sole 1990s-era towers, where annual rents have climbed to more than $100 a square foot, compared with less than $75 in downtown Manhattan, according […]

Myanmar Firms Feel Pinch From Abroad

YANGON, Myanmar—The world’s biggest consumer companies are flocking to Myanmar, filling the once-pariah nation and its backward economy with goods previously unavailable to its 60 million people. But not everyone is happy. Some of the country’s biggest conglomerates—plugging away at the cash-strapped market for decades and fighting hard to grow despite crippling Western sanctions—are now […]