Real estate market slowdown helps dent FMI annual profits

First Myanmar Investments (FMI) published its annual financial results yesterday, showing a severe drop in net profits. The great bulk of the fall was down to a group restructuring the previous year, although a “stagnant” property market also hurt the firm’s bottom line. The latest annual report was FMI’s first as a listed company, having launched its shares on […]

FMI narrows in on stock market listing

Yangon took on a bit of the flair of the American city of Omaha over the weekend. Omaha is home to Warren Buffett-led Berkshire Hathaway. Its annual shareholders meeting is a closely-watched event, a mainstay on the calendar of international investors where Mr Buffett takes on eight hours of business and investment questions. The closest […]

Lippo Group Inaugurates First Myanmar Hospital, Plans $1b Investment

Yangon. Lippo Group, one of Indonesia’s largest conglomerates, launched on Saturday its first hospital in Myanmar, as part of the group’s plan to spend $1 billion to build 20 hospitals in the country over the next three to five years. The Mekong-river country serves as Lippo’s stepping stone in its expansion in the Southeast Asia […]

FMI’s hospital joint venture gets MIC nod

First Myanmar Investment (FMI) and Lippo Group’s health care joint venture has been approved by the Myanmar Investment Commission, according to a press release. Serge Pun-chaired FMI will own 60 percent of the joint venture, with Indonesia-based Lippo Group, the controlling shareholder of Indonesia’s Siloam International hospitals, owning the remaining 40pc stake. “This represents a […]