Western Union launches outbound money transfer service in Myanmar

WESTERN UNION, a global payment services provider, has launched Myanmar’s first outbound money-transfer service, three years after launching inbound services. Patricia Riingen, the firm’s senior vice president for Southeast Asia and Oceania, said the target consumers would be people aged from 25 to 60 who are active on social media and have international exposure (either […]

Companies prepare for Yangon Stock Exchange listings next year

Preparations are underway for the first companies to attempt a listing on the Yangon Stock Exchange early next year, though progress is slower than expected, as only the name of one securities company has so far been announced. The names of six companies that meet – or are close to meeting – listing criteria issued […]

Scramble behind the scenes as Yangon Stock Exchange nears launch

Just a week before Myanmar’s first modern stock exchange is set to open on December 9, a much-delayed announcement on the names of securities companies has not yet been made, underwriters have not received licences and domestic IPOs seem a distant dream. Ten companies have been offered conditional underwriting licences for the Yangon Stock Exchange, […]

Yangon Stock Exchange 10 underwriter names leak

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. The YSE will be launched on 9th Dec 2015. The name of the 10 firms that leaked out are: AYA Bank’s wholly owned subsidiary, AYA Trust Securities Company. Aya Bank is owned by U Zaw Zaw of Max […]

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 […]

YSX provisional licences awarded

Eight companies have been offered conditional underwriting licences for the Yangon Stock Exchange, subject to paid-up capital. The exchange, which is owned by state-owned Myanma Economic Bank, Daiwa Institute of Research and Japan Exchange Group, is due to open in December. Companies including AYA Bank, Daiwa Securities Group and United Amara Bank were offered provisional […]

GoBus aims to make bus travel smoother

Customers with Android phones can already download the app, and GoBus chief technology officer Ko Zeyar Wai Phyo expects iOS and web versions to be launched in October. GoBus already issues 100 highway express bus tickets a day, and is hoping to pick up new users during the October travelling season. ‘’As far as I […]

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 […]

Indian Agri Logistics Group Ties Up with United Amara Bank for Collateral Financing

Indian agri logistics and warehousing company SLCM Ltd, a wholly-owned subsidiary of Sohan Lal Commodity Management Group, has signed a memorandum of agreement with local lender United Amara Bank (UAB) for collateral financing in Myanmar. The move is aimed at strengthening the network for providing collateral management solutions to farmers, processors, traders, exporters and importers […]

Ghosts of 2003 crisis haunt banks

Banks need to clean up their operations and subject their boards of directors, as well as their families, to intense scrutiny if they want to earn the trust of consumers, industry experts said last week. The most recent incident – which followed a familiar pattern where panicked customers attempted to withdraw all their savings from […]