Red faces at AIM as app developer MySquar powers down after key backer pulls the plug

An app maker that crashed off AIM last year has closed its doors after a key backer keeping it afloat pulled the plug. Indonesian payments company Achiko decided against buying former London-listed games app maker MySquar. Achiko had hoped to float in Switzerland and raise cash to acquire the firm — behind mobile games like […]

Myanmar Investments Rejects Offer From Fellow Myanmar Firm

Myanmar Investments International Ltd on Tuesday confirmed it has rejected a merger proposal from Myanmar Strategic Holdings Ltd and said that it will not enter into negotiations in relation to the proposal. “Having carefully considered the terms of the proposal and discussed them with Myanmar Strategic, the board has concluded that proceeding with the potential […]

Mysquare : AIM-listed MySQUAR acquires MyPAY Myanmar, raises $2.9m to fund deal

AIM-listed MySQUAR Ltd, a Myanmar-language social media, entertainment and payment platform, has announced the acquisition of mobile payment operator MyPAY Myanmar Ltd, for a consideration of 2 million ($2.6 million), according to its filing on the London Stock Exchange. MySQUAR simultaneously also announced raising 2.2 million ($2.9 million) through a convertible bond issue offering to […]

Myanmar Enters Next Phase of Aeronautical Information Management Roadmap

The Department of Civil Aviation of the Republic of the Union of Myanmar (DCA Myanmar) completed site acceptance of Comsoft Solutions’ AIM system, transforming their aeronautical information management and thus supporting their increasing air traffic. The project consisted of a complete AIM solution to consistently manage all aeronautical information, in order to guarantee high data […]

Frontier Markets: Myanmar, Explosive GDP Growth

The reason I’m revisiting Myanmar is because recently the State Bank of India (SBIN), together with the Vietnam Bank for Investment and Development, Taiwan’s E SUN Commercial Bank (2884:TT), and South Korea’s Shinhan Bank, were all granted permits to operate in that country. Last year, the first round of permits were granted to ANZ Banking […]

Yonder & Beyond Lists MySQUAR on AIM with Market Capitalisation of $27.6 Million

On July 1 MySQUAR, a Myanmar-language social media platform, listed on London’s Alternative Investment Market (AIM) after raising £1.67 million ($2.57 million). On listing MySQUAR had a market capitalisation of £18 million. Sydney-based technology venture firm Yonder & Beyond owns 4,133,303 MySQUAR shares, valued at A$845,000 ($632,457) on listing which represents a value up-lift of […]

MySQUAR aims for listing in London

The company behind a popular Myanmar chat application won’t wait on Yangon to launch a stock exchange to debut on the public market. MySQUAR – the Singapore-based firm behind localised chat application MyChat – has turned to the London Stock Exchange’s Alternative Investment Market (AIM) for its float, slated for later in 2015. The mobile […]

Norway to take stake in MFI

The Norwegian Investment Fund for Developing Countries (Norfund) has acquired the right to take up to a 25 percent stake in local microfinance company Myanmar Finance International. The microfinance firm is owned by AIM-listed Myanmar Investments International as well as Myanmar Finance Corporation. Norfund is Norway’s main vehicle for combating poverty through private-sector development. “Norfund […]

Myanmar Investments To Raise Equity For Further Investments

LONDON (Alliance News) – Myanmar Investments International Ltd, which began trading on AIM in June 2013, said Monday it is in negotiations and evaluating investments in telecommunications infrastructure, IT services, equipment rental and education. The company also reaffirmed it will be looking to raise additional equity to fund further investments. Over the course of the […]

Foreign trade to increase to US$35 billion this year

Myanmar aims to raise its foreign trade volume by US$10 billion during the current 2014-15 fiscal year, according to the Ministry of Commerce. Myanmar’s foreign trade volume gone has from US$15 billion to US$25 billion in three years. “We intend to increase it to US$35 billion this fiscal year,” said Minister of Commerce Win Myint. […]