Philippines’ Phinma Group to expand education network to Myanmar

The Phinma group plans to scale up its footprint in Southeast Asia’s education space by transforming its pilot nursing and healthcare training center in Myanmar into a full college while scouting for expansion opportunities in Vietnam and Indonesia. At the same time, the group will be expanding Phinma Education’s business in the Philippines organically and […]

China unlikely to repeat LNG import surge

Govt, firms will control demand in coming winter: UNIPEC China is unlikely to see a repeat surge in liquefied natural gas (LNG) imports this coming winter as the world’s largest energy consumer has learned from the previous cold season to keep demand under control, the head of China International United Petroleum & Chemicals Co (UNIPEC) […]

Telenor’s Cost-Cutting Focus Rattles Investors

Telenor’s first-quarter numbers should have been a treat for any investor. Up 20% year-on-year, to 4.99 billion Norwegian kroner ($630 million), first-quarter net profit easily beat analyst expectations of NOK3.53 billion ($450 million). Dividend payments to shareholders could total NOK18.6 billion ($2.35 billion) this year, up from just NOK11.3 billion ($1.43 billion) in 2016. “It’s […]

MPU cards, Visa and MasterCard credit cards to be enabled under YPS

Bank account holders will be able to use their ATM cards as prepaid cards under the Yangon Payment Services (YPS) scheme, said Yangon Chief Minister U Phyo Min Thein. The Yangon Regional Government is currently in the process of awarding the contract to implement YPS to one of two companies: Anypay Payment Services or Asia […]

Zay Kabar Co partners Chinese to develop one-stop bazaar in Mingaladon

Myanmar conglomerate Zay Kabar Company and Chinese developer Zhejiang Luding Investment Co have signed an agreement to jointly develop a bazaar in Mingaladon township. Designs for the project, which will involve the development of a wholesale and retail market, residential units and office buildings across 124 acres of land, have been submitted to the Yangon […]

New Myanmar-China economic zone in the works

Negotiations are underway between Myanmar and China for the construction of a Chinese economic zone to promote Myanmar manufacturing and tourism, U Yan Naing Tun, director general of the Department of Trade under the Ministry of Commerce told The Myanmar Times last week. This comes after the two countries last year signed an MOU to […]

Interview with Myanmar’s transport and infrastructure chief

Picture a busy intersection in a Southeast Asian city, and you’ll find yourself surrounded by motorbikes revving and swerving through the traffic. Not in Yangon, though. Myanmar’s largest city banned motorbikes in 2003, making it fertile ground for building affordable and reliable public transport. For the first time in its modern history, the country is […]

Myanmar FDA head arrested for alleged corruption

Zabuthiri Township police force arrested the Director General of Food and Drug Administration (FDA) under Ministry of Health and Sports for allegedly misusing his power in the ownership of a house and plot of land valued at over 150 million kyats. The police say the accused Dr. Than Htut was arrested at 12:45 p.m. on […]

Asia AVA Gas to build LPG facilities in Yangon

Asia AVA Gas Company has entered into a joint venture with Myanma Petrochemical Enterprise (MPE), which falls under the remit of the Ministry of Electricity and Energy (MOEE) to undertake a project enabling the import, storage and distribution of liquefied petroleum gas (LPG) in Myanmar, Daw Yin Yin Aung, deputy director of MPE, told The […]

Oway Group receives private equity to expand in competitive taxi market

Oway Group last week received $7 million in fresh funds from Mekong-focused private equity firm Belt Road Capital Management (BRCM), which is headquartered in Cambodia. The online travel service provider, which is founded by local entrepreneur Nay Aung, operates the mobile taxi-hailing service Oway Ride as well as oway.com.mm, Myanmar’s largest online travel portal. The […]