PPB disposes of Myanmar packaging business for US$2.4m

KUALA LUMPUR (Sept 20): PPB Group Bhd is disposing of its entire equity interest in Tefel Packaging Industries Co Ltd in Myanmar for US$2.4 million (RM10.06 million). PPB’s 79.9%-owned indirect subsidiary Tego Sdn Bhd inked an agreement to transfer its entire 100% stake in Tefel Packaging Industries Co Ltd — a polypropylene bags manufacturer — […]

Daibochi expects a better second half with new plant’s contribution

KUALA LUMPUR: Daibochi Plastic and Packaging Industry Bhd, which on Wednesday reported a 14% dip in first half-year net profit, expects a stronger performance in the second half of the year as it banks on its newly-operational first overseas plant in Yangon, Myanmar. The flexible packaging manufacturer said in a statement that the consumer packaging […]

Bintai Kinden unit wins RM74mil job from Myanmar firm – Business News

PETALING JAYA: Bintai Kinden Corp Bhd’s subsidiary, Bintai Kindenko Myanmar Co Ltd, has won a US$17.5mil (RM74.48mil) sub-contract works award from Soilbuild (Myanmar) Co Ltd. In a filing with Bursa Malaysia, the mechanical and electrical engineering services provider announced that its subsidiary had accepted a letter of award to undertake sub-contract works for the proposed […]

Malaysian firm cancels Yangon office tower

A Malaysian company has cancelled plans to build a 32-storey office tower in Yangon with a local partner after the two sides failed to agree on the terms of the joint venture. Bursa Malaysia-listed Naim Indah Corporation filed a note to the exchange on June 6 to say that its subsidiary, Naim Indah City Development, […]

Texchem expands into Myanmar’s marine products markets

Kuala Lumpur (April 1): Texchem Resources Bhd is venturing into the procurement and marketing of marine products such as soft shell crabs, prawns and hamaguri, the common orient clams, in Myanmar. In a filing with Bursa Malaysia today, Texchem said its unit Texchem Food Sdn Bhd has inked a joint venture agreement (JVA) with E-Sprint […]

Malaysian healthcare group IHH to build Yangon Parkway hospital

Malaysian firm IHH Healthcare is building a US$70 million 250-bed hospital in Yangon through a Singaporean subsidiary, which will help efforts to train local Myanmar health professionals, the company said. The new Parkway Yangon Hospital is IHH’s first in Myanmar, although the company plans to build more in the future, a Parkway Pantai spokesperson told […]

Nissan and Mercedes race to enter the Myanmar market

Competition among global automakers to establish their brands in Myanmar is intensifying with Nissan and Mercedes joining the race to take advantage of the market’s long-term growth prospects. Although used cars currently comprise up to 99 percent of annual domestic sales, industry insiders say automakers are staking out territory with an eye to future market […]