US terminated remaining sanctions against Myanmar on 7 Oct 2016

On 7th October 2016 – President Obama signed the Executive Order to terminate the remaining economic and financial sanctions against Myanmar that make it very difficult for US banks, financial institutions and companies to do business with Myanmar. That means the following group of people and entities have been removed from the US Sanction List […]

Complete List of 204 entities and individuals removed from the US Sanction List for Burma

The following deletions have been made to OFAC’s SDN List for Burma as of 7/10/2016:   STATE PEACE AND DEVELOPMENT COUNCIL OF BURMA [BURMA].   SHWE, Than; DOB 02 Feb 1935; alt. DOB 02 Feb 1933; nationality Burma; citizen Burma; Senior General, Minister of Defense and Commander-in-Chief of Defense Services; Chairman, State Peace and Development […]

Time to re-look your investment plan in Myanmar as Obama pledges to lift all remaining sanctions against Myanmar

President Obama this morning pledge that the US will lift all remaining sanction s against Myanmar after meeting Daw Aung San Suu Kyi at the Oval Office.   Currently the last remaining Myanmar tycoons on the SDN List are Steven Law of the Asia World Group U Zaw Zaw of the Max Myanmar Group U […]

Cronies Disappointed As US Sanctions Extended

RANGOON — In wake of the extension of most of the US sanctions on Burma on Tuesday, several cronies have remained on the Specially Designated Nationals (SDN) list, despite the expectation that they would be removed. Sanctioned businessman Khin Shwe, chairman of the Zay Kabar Group of companies, told The Irrawaddy, “Some people have suggested […]

US eases Myanmar sanction to aid business

Photo Credit: File Photo from Nov. 14, 2014  meeting between Obama and Aung San Suu Kyi in Yangon (Nyein Chan Naing / European Press Photo Agency) The US government has removed 3 government banks and 7 government agencies responsible for promoting investment and export in various sectors of this resource rich country off the sanction […]

Max Myanmar’s Zaw Zaw: ‘I am ready to play any Part’

Zaw Zaw is the chairman of Max Myanmar Group of Companies, one of Burma’s biggest conglomerates, with interests in the country’s construction, hotel, real estate and agricultural sectors. He also intends to expand his banking business under the new National League for Democracy (NLD) government, but remains on a US blacklist, preventing American companies from […]

In Burma, a Fine Line Between CSR and Karmic Cash

RANGOON — It was perhaps inevitable that Burma’s business sector would struggle with the idea of corporate social responsibility (CSR), operating in a country of high charitable giving and stark contrasts between its wealthiest and poorest citizens. At least in part, this stems from the reality that CSR, as a concept, has only caught on […]

To Court or Clamp Down? The NLD and Burma’s Cronies

RANGOON — With the National League for Democracy (NLD) set to take power on April 1, political and economic observers will be closely watching for change, including whether the rampant cronyism that dogged the country for decades under successive military-backed administrations, will continue unchecked. While it is no secret that Burma’s top brass has long […]

Military-linked tycoons claim political middle ground

Despite decades of benefiting from connections within the military and ruling Union Solidarity and Development Party (USDP), many of Myanmar’s leading conglomerates have claimed to be politically neutral.   Spokespeople for some of the country’s most successful companies including Asia World, Htoo Group, Kanbawza (KBZ) Group and Max Myanmar said as private businesses they had […]

Myanmar party chief’s ouster rocks his family businesses

YANGON — The dismissal of the head of Myanmar’s ruling party is creating a stir in business circles, threatening the future of companies run by his relatives. RedLink Communications is a top player in Myanmar’s rapidly expanding Internet service business, boasting the largest share. Hopes were growing that the company would go public on the […]