Myanmar in Talks to Get First Credit Rating

Myanmar is in early-stage talks to get its first credit rating, people familiar with the matter said, paving the way for an eventual debut global-bond sale by a nation still recovering from decades of crippling military rule. A rating would help ensure that foreign investors don’t see the Southeast Asian country as “a black box,” […]

Taking stock of StanChart’s absence

Some local bankers are linking Standard Chartered’s decision not to proceed in the race for a Myanmar banking licence to reports of a possible management shakeup at its United Kingdom headquarters. Industry observers said the United Kingdom-based bank has the most international reach of the 42 banks with a Myanmar representative office. However, Standard Chartered […]

Standard Chartered looks to Myanmar

Standard Chartered opened a representative office in Yangon in February 2013, but current restrictions limit foreign banks’ operations – though reforms to open the sector to international competition have been promised. The Myanmar Times reporter Aung Shin met with Mr Lim Cheng Teck to discuss Myanmar’s financial sector during a period of change. This interview […]

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 […]

Firms line up for Myanmar opportunity

By Jaspal Bindral (group executive director and CEO Asia, Standard Chartered) As senior decision-makers from around the globe descended on Myanmar’s capital of Naypyidaw for the World Economic Forum on East Asia recently, multinational companies were lining up to explore the huge commercial opportunities in the country. At Standard Chartered, we’re seeing strong, and growing, […]

UK Trade Minister stresses 4 hindrances for investments in Myanmar

The United Kingdom’s Trade and Investment Minister Stephen Green, on his first visit to Myanmar, stressed four key areas Myanmar needs to improve to receive more foreign investments. Lord Green said the UK recognizes the attractiveness of Myanmar market but the key hindrances for foreign investments are the corruption and lack of transparency, physical and […]