Securities commission warns against illegal share sales

The Securities and Exchange Commission of Myanmar warned companies against selling shares without its permission yesterday – the second time it has issued such a warning since the country’s first modern stock exchange opened at the end of last year. The commission made an initial announcement through state media in February but public companies have […]

Yangon Stock Exchange weak on corporate governance rules: observers

While globally an initial public offering usually means throwing the doors to your company wide open and letting investors poke around, industry observers say the Yangon bourse has not gone far enough on provisions for transparency. According to listing criteria published in state media last August, companies that wish to go public on Yangon’s stock […]

Thai-Myanmar JV receives stock exchange broker licence

A Thai broker and its Myanmar joint venture partner have been awarded a broker licence for the soon-to-open Yangon Stock Exchange. New York-based broker Auerbach Grayson & Company announced on October 20 that its Thai subsidiary KT ZMICO and local partner KTZ Ruby Hill Securities were one of four foreign brokers to receive a broker […]

Yangon stock exchange risks opening under US sanctions

Myanmar’s first modern stock exchange risks falling under sanctions by the US Treasury when it eventually launches this year. The Yangon Stock Exchange is not designated specifically by the Department of Treasury’s Office of Foreign Assets Control (OFAC). However US officials have clarified that under US law it would be automatically sanctioned, as it is […]

Jardine Lloyd Thompson opens local office

Jardine Lloyd Thompson officially opened its Myanmar representative office on September 12, joining a growing list of international insurers with local offices. Foreign insurers are generally barred from working inside the country, with the exception of three firms which received licences to operate in special economic zones earlier this year. Authorities have said they will […]

Customers irate at futures trading firm

A company which goes by two names – Global Growth and Golden Global – has allegedly cheated US$1.48 million (K1.65 billion) from customers, according to local newspaper 7day Daily. The company reportedly tells clients that it is a branch of Standard Bullion, which is a member of the Chinese Gold and Silver Exchange Society. The […]

Government to warn ‘illegal’ futures brokers

The government is to issue a formal warning to “illegal” online futures trading companies to stop trading once offices reopen at the end of the Myanmar new year holidays today, according to U Maung Maung Thein, deputy minister for finance. “They are not operating in accordance with related laws. And we are seriously afraid that […]

Stock exchange service providers face staffing trouble

The Yangon Stock Exchange is slated to start by October, though the securities industry faces a shortage of skilled workers, according to experts. Working on capital markets requires specialised knowledge that is currently in short supply, given Myanmar has never had a modern stock exchange. Deputy finance minister U Maung Maung Thein previously said that […]

Daiwa’s stock underwriter bid raises finance industry’s eyebrows

Japanese securities company Daiwa Securities Group has entered a bid for an underwriter licence along with its Myanmar partner, prompting some observers to question whether the firm and its sister companies may be positioned for too much control on the forthcoming Yangon Stock Exchange. The firm submitted a bid by March 6 to be an […]

Foreign insurance firms to be allowed into SEZs

Foreign insurers will be allowed into Special Economic Zones in January, though the exact rules governing their operations are still being discussed, said deputy finance minister U Maung Maung Thein. Companies will be selected based on their adherence to international standards, as well as their responsibility in social affairs, and will be required to have […]