Myanmar Unprepared for Stock Market: Economist

Trading of stocks at the Yangon Stock Exchange (YSX) is expected to begin in March, giving Myanmar people another option to invest their money. Currently, people invest in the property market or the currency market, however, they are less likely to move their investments into the new stock market, a local economist said. “All of […]

PTTEP sells interest in another Myanmar onshore block

A subsidiary of Thailand’s state owned PTT Exploration and Production (PTTEP) has sold a 10 percent holding in another Myanmar onshore block, as international oil prices touch as near-seven-year low, the company said yesterday. PTTEP South Asia sold its 10pc interest in onshore block MOGE-3 to Japanese Mitsui Oil Exploration (MOECO), the same company that […]

Myanmar’s stock exchange to open, but not for business

There won’t be any bell-ringing or celebratory confetti explosions when Myanmar opens its new stock exchange this week. There won’t be any stocks to trade either. As Myanmar adjusts to the dizzying pace of its economic reforms and plays catch-up with Asia’s high-growth frontier markets, its bid to thrust a once military-run backwater into the […]

Sales to rise, prices to fall, say Yangon real estate agents

Real estate is likely to bounce back in 2016 after more than a year of depressed sales, while prices will fall as new supply comes online, said investors and agents. Following a relatively smooth election, the volume of transactions will be “back to normal”, they said, referring to last year when the industry was thriving. […]

Myanmar Payment Union Forms Public Company

RANGOON — Burma’s sole domestic provider of card-based payments, Myanmar Payment Union, has formed a public company comprised of its 23 member banks, according to the organization’s chief executive officer Zaw Lin Htut. Myanmar Payment Union (MPU) had planned to form a public company in 2014 and Burma’s Directorate of Investment and Companies Administration gave […]

PTTEP subsidiary divests in Myanmar blocks

After the divestiture, PTTEP SA’s holding in the two onshore blocks will be reduced to 70 per cent, while Moeco and Palang Sophon will each hold 10 per cent in both fields. The balance is taken up by Win Precious Resources. Tevin Vongvanich, president and chief executive of PTTEP, said the divestiture was part of […]

Tax to be levied on stock exchange investments

This will be the case initially, even though other countries such as Vietnam are untying their investors from tax, said Dr Maung Maung Thein, chair of the Securities and Exchange Commission Myanmar (SECM) and deputy finance minister, on August 29. However, he provided no information about the value of tax that investors will be charged, […]

Malaysian Firm Bags PTTEPI Myanmar Contract

Malaysia’s Scomi Energy Services Bhd has secured a $27.63-million, three-year contract from PTTEP International Ltd (PTTEPI) Myanmar, according to Malaysian media reports. Scomi Energy said in a Malaysian stock exchange filing that the contract was to provide drilling fluids together with solids control products, equipment and engineering solutions contract. It covered Phases 1B and 1C […]

Stock exchange entry criteria to be unveiled

Deputy Finance Minister Maung Maung Thein has said that the Ministry of Finance will release the entry criteria in the first week of August for firms looking to register on the stock exchange. The rules will be available at the Securities and Exchange Commission. “There are international standard criteria among the list we will be […]

KBZ chosen as settlement bank for upcoming stock exchange

KBZ, the country’s largest private bank, has been chosen to run settlement and clearing operations for the forthcoming Yangon Stock Exchange, according to KBZ senior managing director U Than Cho. The bank has the widest network among private banks and has the digital integration necessary for a settlement bank, he said. “We can serve buyers […]