UOB puts focus on Asean investment

UNITED OVERSEAS BANK (UOB), one of the largest Asian banks, is actively engaged in bringing foreign investors to Thailand, particularly the flagship investment project in the Eastern Economic Corridor, according to its chief executive. Asked which Asean countries were now the most attractive for foreign direct investment in the eyes of UOB, Choon Hin Tan, […]

Numaligarh Refinery becomes Myanmar’s sixth fuel retailer

Assam-based Numaligarh Refinery (NRL), in joint venture with Parami Energy Group, has entered the fuel retailing business in Myanmar. NRL, a subsidiary of BPCL, becomes the sixth fuel retailer in Myanmar, which includes Shell, Total and a clutch of companies from Vietnam and Thailand. Two road tankers, carrying approximately 4,000 gallons of fuel each, will […]

Yangon government takes first move to bring Reuters to court

The Yangon government has filed a complaint against international news agency Reuters before the Myanmar Press Council over a report about the alleged lack of transparency in the procurement of buses, a senior member of the council said Tuesday. The Yangon government’s move was the first step in hauling Reuters to court, according to legal […]

Myanmar’s First Private Pharmaceutical Factory Opens in Dagon Seikkan Township

Myanmar’s first privately owned pharmaceutical factory opened its doors in Dagon Seikkan Town­ship, Yangon on the third week of July. Located in Industrial Zone 1, Pacific Medi­cal Industries Limited’s (PMI) facility is a two-story building that in­cludes offices, a quality control area, and a mas­sive 16,630 square meter manufacturing floor. In an effort to relieve […]

No green light yet for Yangon’s water bus operations

The water bus system was to service the routes along the Hlaing River, the Nga Moe Yeik Creek and the river near Thanlyin Township, according Ko Tun Nai Lin of the Tint Tint Myanmar company which won the tender to operate the system. “At present, we already constructed the jetties. But we are waiting for […]

Garment manufacturing: How to navigate Myanmar’s ethical maze

As it undergoes profound and rapid change, Myanmar is today emerging as one of Asia’s most sought-after hubs for fashion sourcing. The country’s opening-up to the global economy has come after decades of military rule, during which a long period of isolation and internal conflict was followed by an era of gradual disengagement from politics […]

Singapore Myanmar Investco reports encouraging initial retail results at Yangon International Airport

Singapore Myanmar Investco Limited has reported revenue of US$13.3 million in its travel and fashion retail segment for the year ended 31 March 2017. Subsidiary SMI Retail only began duty free operations at Yangon International Airport in September 2016, meaning there is little meaningful basis for year-on-year comparison. The company was awarded contracts for duty […]

Local Job Site JobNet Secures 7-Digit Investment on the Back of ‘Lightning’ Fast Growth

Local job website JobNet.com.mm has secured a 7-digit investment from an un­disclosed “global institu­tion fund” experienced in frontier markets, said the company’s CEO. The undisclosed in­vestment will be used to “ramp up” JobNet’s mar­keting and product de­velopment as online job applications experience a surge in popularity amid the country’s internet connectivity boom. “We are delighted […]

Myanmar’s First Private Bank to modernise banking operations with Misys

First Private Bank (FPB) has chosen Misys FusionBanking to streamline operations and digitalise as it takes a significant role in contributing to Myanmar’s growing economy. The bank, which received the first banking licence in Myanmar in 1992, aims to facilitate access to financial services for all and will transform its retail, corporate and digital offering […]

The land of the $20 smartphone

“This one $40, this one $30 … that one $20!” The owner of the street stall, a man of about 30 years wearing a traditional longyi tied around his waist, is gesturing at a phone that looks, to my eyes, like a mid-range Android phone. It bears the brand Singtech, a brand among myriad others […]