Myanmar Tower Co in talks for firm’s sale

Myanmar Tower Company (MTC), which is owned by Digical Asian Holdings, a joint venture between Digicel Group and YSH Finance, has been put up for sale, including all its contracts and sites, according to several market sources. Several companies have made an initial bid and are now carrying out the due diligence process on MTC, according to a source at one of the companies, who did not want to be named as the matter is sensitive. MTC and Yoma Strategic both declined to comment. Digicel … [Read more...]

Mobile boom in Myanmar

The most popular brand in Yangon is iPhone, but Chinese brands are seeing their popularity rise The quest for the best mobile phones is endless in Myanmar as consumers are now offered the vast selection of products to choose from as well as better mobile phone services. In the country where the gross domestic product is among the lowest in the world, at below US$60 billion in 2012, consumers here share the thirst for an iPhone. According to a recent survey by Mileage Communications … [Read more...]

Myanmar mobile growth beats expectations with 18.1m active users

Myanmar’s burgeoning mobile market expanded to at least 18.1 million active users by the end of March 2015, more than double the figure reported a year ago and up from an estimated 4.4 million subscribers in March 2013. Until August 2014 the market was served by a single state-owned provider, Myanmar Post and Telecommunication (MPT), which had limited coverage and severe limitations on its ability to distribute SIMs to the public. The arrival of international telecoms groups Telenor and Ooredoo … [Read more...]

Yangon rents retreat from sky-high levels

For expats in Myanmar, most of which are moving to the country’s business hub of Yangon, searching for a reasonably affordable apartment or office in the city used to be a nightmare. Because there are far too few new developments with condo units or offices and not enough existing living and working space at Western standards to meet the ever-growing demand, rentals prices for prime property were skyrocketing over the past years after the country opened its borders for investors, businesses … [Read more...]

Telenor racks up 6.4 million subscribers

Telenor Myanmar claimed 6.4 million subscribers at the end of March, nearly double its results three months earlier, its Norwegian parent company said yesterday. The firm has seen a steady increase in users since launching in October 2014, with nearly 60 percent of its subscribers actively using data, its first quarter 2015 report said. “In the coming quarters, we plan to ramp up network investments to cater for the strong demand for digital services in this connectivity-hungry nation,” … [Read more...]

SIM sales soar as Myanmar races to catch up in telecoms

YANGON (Reuters) - Myanmar, long one of the world's least connected nations in terms of telecommunications, is now racing to catch up, providing a boost to the foreign mobile companies allowed into the country last year. The number of mobile phone SIM cards in the south-east Asian country of 51 million people has shot up to more than 18 million from around one million just three years ago, according to data compiled by Reuters. That has surprised some of the foreign entrants, who expected … [Read more...]

Myanmar projects economic growth of 9.3 pct for 2015-16

(Reuters) - Myanmar is targeting economic growth of 9.3 percent in the fiscal year that started this month, driven by an unprecedented amount of foreign investment and rapid expansion in its nascent telecoms sector. The target was outlined in the country's National Planning Act, approved by President Thein Sein on April 9 and seen by Reuters. It surpasses estimates by the Asian Development Bank (ADB), which has forecast 8.3 percent growth and the World Bank, which sees about 8 percent … [Read more...]

The Long Road To Investing in Myanmar

A seminar in Bangkok has been told that while there are opportunities in Myanmar for foreign investors the country lacks the human resources to enable rapid growth, while many of the opportunities that exist are in industries which have profound levels of corruption. The packed to capacity presentation, Myanmar at the Crossroads, part of the Wharton Global Forum organised by the Wharton School, University of Pennsylvania, heard that while foreign investment in Myanmar was increasing – foreign … [Read more...]

Myanmar to establish new ICT zone in eastern Yangon

YANGON, April 21 (Xinhua) -- Myanmar is planning to establish a new information and communication technology (ICT) zone in Thanlyin, eastern Yangon, to boost development of ICT in the country, local media reported Tuesday. Over 120 hectares of land plot have been designated for the new ICT zone and tender for developing the zone has been invited from both foreign and local IT companies, the Myanmar Computer Federation was quoted as saying. The new ICT zone is also designed to create more … [Read more...]

ANZ and Woodside lead the investment in Myanmar

It’s closing in on midnight when our taxi pulls up outside a run-down apartment block on the edge of central business district of Myanmar’s commercial hub and former capital Yangon. The attendant lounging on a chair out front, shows us up a short flight of stairs to the entrance; down the end of the corridor, past an elevator you would think twice about stepping into there is an imposing door. Our guide knocks, and the wooden peephole slides back. It’s opened by a smiling young Burmese barman, … [Read more...]