Jovago Offers Myanmar Online Payment Method

Jovago.net, a hotel-booking website, has introduced two new online payment methods in partnership with 2C2P. “The new payment sys­tem will help our busi­ness move from manual payment to a digital vir­tual payment system to improve customer satis­faction and ease of trans­action. We are happy to provide better payment system in response to our valuable customers,” […]

Black Friday : e-commerce sales taking off in Myanmar

Shop.com.mm, Myanmar’s largest e-commerce platform, are providing access to substantial discounts and unmatched variety for their Black Friday Sale, November 25th-27th. Black Friday Sales traditionally take place on the Friday after Thanksgiving (late November) in North America and have come to be one of the largest shopping days of the year. It was not uncommon […]

E-Commerce Giant Vying for Slice of Migrant Money Transfer Market

Thai e-commerce giant Ascend, which owns the TrueMoney brand, is launching a new money transfer service for Myanmar workers in Thailand that it hopes will be able to compete with a sprawling network of informal lenders who have been used to send remittances from Thailand for decades. TrueMoney Transfer launched earlier this month and by […]

AGD Bank prepares IPO as profits drop

Asia Green Development Bank is preparing to launch an initial public offering, or IPO, on the soon-to-open Yangon Stock Exchange (YSX), though profits are down substantially on last year. The bank’s net profit was K112.6 million for the 2014-15 fiscal year, far lower than K9.6 billion the previous year, officials said at the fifth annual […]

Myanmar’s Tay Za ‘Rethinking’ Bank Sale to Ne Win’s Family

YANGON — Burmese tycoon Tay Za has said he is “reconsidering” an offer from the family of late dictator Gen. Ne Win to buy a majority stake in Asia Green Development (AGD) Bank. Last month a small share in the bank was transferred to one of Ne Win’s grandsons, with another grandson claiming that the […]

Govt, parliament have responsibilities to investigate AGD bank’s share transfer

To investigate whether the share transfer of Asia Green Development Bank (AGD) involves white money is dependent mainly on the government and the parliament. People have urged the executive pillars to inspect this case in line with the Anti-Money Laundering Law transparently. Such critics have risen following the in-person interview between Kyaw Ne Win – […]

Change in owners as U Tay Za said to exit AGD Bank

Several prominent businesspeople have bought or sold stakes in Asia Green Development (AGD) Bank, as it prepares for listing on the planned Yangon Stock Exchange in 2015. Up to 60 percent of the bank could have changed hands, with prominent entrepreneur U Tay Za and his Htoo Group of Companies severing direct ownership ties with […]

Myanmar Tax Department Says 2,500 Tax-Evading Firms Named in Error

YANGON — The Myanmar government’s tax department has admitted that it mistakenly named nearly 2,500 companies as tax evaders. The Internal Revenue Department (IRD) on March 6 published a list of 10,670 companies that it said had failed to pay taxes for the 2012-13 fiscal year, which ended in March 2013. The list included well […]

Tax department admits error over public disclosure

The Internal Revenue Department (IRD) has publically disclosed the names more than 10,000 local businesses guilty of tax evasion in the 2012-13 fiscal year though the government agency now admits that some of those listed were made in error, said an official. The list, which was published on the IRD website on March 6, includes […]