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Zingo Myanmar raises fund to expand

Ko Shwe Ventures, the Singapore firm behind oral healthcare product Zingo, announced that it had raised US$350,000 of initial seed financing from international investors to launch the product across Myanmar. Zingo is a range of oral healthcare products specially designed to address the effects of consuming quid or betel nut. In Myanmar, about 40 percent […]

Myanmar invites foreign investment with business-friendly reforms

As Seoul fleshes out its New Southern Policy to strengthen ties with Southeast Asian nations and other countries, Myanmar presents fresh opportunities with its business-friendly policies, according to the country’s top envoy to South Korea. During the Burmese National Day reception on Jan. 7 in Seoul, Myanmar’s Ambassador Thura Thet Oo Maung said the Korean […]

Chinese Firm Proposes $1.5-bn Elevated Railway for Yangon

YANGON—China is looking to make further inroads into Myanmar’s economy by funding a US$1.5-billion elevated railway project in the country’s commercial capital, Yangon. China Railway Eryuan Engineering Group Co., Ltd (CREEC) made a presentation about its planned project to develop an elevated railway to lawmakers in a media room in the regional parliament on Monday. […]

Myanmar to introduce card payment system with buses operating in Yangon

YANGON, Jan. 17 (Xinhua) — Myanmar’s Yangon Bus Service (YBS) is projecting to implement a card payment system to replace the present cash box system to facilitate passengers in taking buses, the official Global New Light of Myanmar reported Thursday. Within the next nine months, the YBS is planning to change the present system to […]

Border trade during Oct-Dec quarter down

BORDER trade between Myanmar and its neighbours during the October-December quarter amounted to more than US$2 billion, down by $71 million, or 3.2 percent from the same period in 2017, according to the Ministry of Commerce. The fall was mainly due to a $563 million drop in trade value at the China-Myanmar border to just […]

Bid to establish Myanmar derivatives market begins

THOUGH Myanmar’s stock market is yet to be very active due to a lag in investor interest, another move is now under way to set up a derivatives market in the nation, according to a workshop held at the Yangon Stock Exchange (YSX) yesterday. Min Htike Aung, managing director of New World Financial Group, said […]

Yangon jute factory fires over 300 workers, claims losses

The management of a former state-owned jute factory in Yangon on Wednesday sacked over 300 workers who have been employed for over 30 years, saying they are facing losses and will shut down the facility. “Factory officials told us they have to close the factory and dismiss us because they have been suffering losses,” said […]

Benchachinda JV eyes double-digit growth in Myanmar

Myanmar Information Highway (MIH), a joint venture between Benchachinda Group and local companies that provides broadband Internet services in Myanmar, hopes to enjoy double-digit growth this year, according to PassakornHongsyok, the firm’s general manager. Passakorn said in an exclusive interview that the firm aims to serve 2,000 corporate clients in Yangon by the end of […]

Reform of extractive state businesses delayed

The reform of Myanmar’s opaque and powerful state-owned enterprises (SOE) has been delayed for over a year due to sensitivity surrounding the industries. A public debate in Mandalay to reform Myanmar’s state-owned enterprises engaged in the extractive sectors was held under the work programme of Myanmar Extraction Industries Transparency Initiative (EITI), according to Department of […]

Temasek and ADB back Myanmar investment fund

Private equity company Ascent Capital has launched Singapore’s first Myanmar-focused fund, with backing from high-profile investors including sovereign wealth fund Temasek and the Asian Development Bank. By CLARE HAMMOND | FRONTIER IN 2013, Mr Lim Chong Chong was sent on a mission to Myanmar. He was working for Singaporean wealth fund Temasek and, as he […]