Myanmar’s mobile revolution

Myanmar has seen massive growth in internet penetration, mobile phone adoption and social media usage in the past few years, spurred by the end of direct military rule and rapid opening up of its market after decades of isolation. The consumer market in Myanmar has essentially bypassed the development stages seen in other economies and […]

Tap Oil to Retain Stake in Thailand’s Manora Block After Strategic Review

Australia’s oil and gas exploration and production company Tap Oil Limited provided Monday an update on the outcome of the Company’s strategic review and financing. STRATEGIC REVIEW Earlier this year, Tap announced a formal strategic review of its business and asset base to maximise shareholder value in response to the significant change in market conditions […]

Foreign investors still attracted to Myanmar

Foreign companies are showing unwavering interest in Myanmar, despite concerns about the reform process. In the first two weeks of January, the representatives of four companies showed up at the office of the Directorate of Investment and Company Administration (DICA) in Yangon, according to its website. They were Toyota Tsusho Corp, ZTE Corp, Shell Eastern […]

Kempinski rides the hotel boom in Yangon

After unveiling its first Myanmar property in Nay Pyi Taw, Berlin-based Kempinski Hotels will build up its presence in Yangon in the next few years. According to an announcement by Thailand’s Siam Commercial Bank (SCB), a US$60 million financial support was granted for the renovation of an old building in Yangon into the Kempinski Hotel. […]

Thai banks step up push for licences in Myanmar

ALL FOUR THAI banks in Myanmar are intensifying their efforts to secure banking licences in the belief that opening up of the industry will proceed despite opposition for local players. Representatives of Kasikornbank (KBank) and Krungthai Bank (KTB) recently joined conferences in Yangon, speaking their minds on what their banks have to offer to the […]

Four Thai banks vie for licences in Myanmar

Thai banks with representative offices in Myanmar have a strong interest in applying for restricted-services licences, after that country recently opened up for such applications from foreign banks for the first time. Four Thai banks have representative offices in Myanmar – Bangkok Bank, Krungthai Bank, Siam Commercial Bank and Kasikorn-bank. If they can obtain the […]

Thai banks line up for licences in Myanmar

The banking industry in Myanmar is a key strategic destination for Thai commercial banks as they plan for Asean integration after the Myanmar authority allows foreign banks to apply for operating licences there.  Myanmar’s central bank said 42 foreign financial institutions with representative offices there applied for its restricted banking licences. The four largest Thai […]

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 […]

Right local partner key for Thai SMEs looking to Myanmar

Thai small and medium-sized enterprises looking to establish a footprint in Myanmar should find the right local distribution partners, and their products should not be dependent on the country’s currently underdeveloped infrastructure, according to experts in doing business there. Speaking at the second session of the “Thailand-Myanmar Trade Investment Relations in the Age of AEC” […]

Myanmar’s remittances: Too many chits for kyat

No one has bothered to count how many people live in Myanmar since 1983 (when it was still Burma). No surprise then that no one has any clear idea how many people left the country during its 50 years under military rule. The men in green certainly did a savage job of mismanaging the economy […]