Thai finance firm Group Lease to buy Myanmar microfinance business

Thai motorcycle lessor Group Lease PCL plans to buy 71.9 percent of BG Microfinance Myanmar from Sri Lanka’s Commercial Credit and Finance PLC for an unspecified amount, to take advantage of rising microfinance demand in Southeast Asia. Through the deal, Group Lease will expand its regional presence, adding Myanmar to Thailand, Cambodia, Laos and Indonesia, […]

Myanmar aims to attract $140 billion in FDI until 2030

Myanmar has set its sights on attracting US$140 billion (Bt4.9 trillion) in foreign direct investment (FDI) from now until 2030, according to a national economic development plan. From 1988 until March 30, which marked the end of the 2015-16 fiscal year, Myanmar had granted permits for foreign investments worth $63.7 billion. The national development plan, […]

Central Bank manoeuvres rise in kyat value

The value of the Myanmar kyat has risen due to the efforts of the Central Bank of Myanmar, according to Xinhua News Agency. The kyat value rose gradually starting from the beginning of this year following a year of declining value compared to the US dollar, according to local money changers. On 2 April, US$1 […]

Max Myanmar’s Zaw Zaw: ‘I am ready to play any Part’

Zaw Zaw is the chairman of Max Myanmar Group of Companies, one of Burma’s biggest conglomerates, with interests in the country’s construction, hotel, real estate and agricultural sectors. He also intends to expand his banking business under the new National League for Democracy (NLD) government, but remains on a US blacklist, preventing American companies from […]

Military-Linked UMEHL Transitions Into Public Company

Yangon — The Union of Myanmar Economic Holdings Limited (UMEHL) announced on Thursday that, after being linked to the military for more than two decades, the conglomerate has transitioned into a public company. According to state-run media, shares for UMEHL, which was founded in 1990 with two shareholder groups, will be consolidated into one group. […]

Myanmar army MPs slam bill granting Suu Kyi special advisory role

Myanmar military MPs on Friday said a plan to bolster Aung San Suu Kyi’s power with a special advisory role was unconstitutional, as the new civilian government tussled with the army just days after taking office. The Southeast Asian nation was dominated by the military for more than half a century until Wednesday when Suu […]

Thonburi Group clinches JV in Myanmar

Thonburi Hospital Group yesterday signed a memorandum of understanding with Aung Kyi Soe, managing director of Aung Shwe Thee International (AST Group), a leading property group in Myanmar, for a joint venture to invest in a 150-bed private hospital in that country at the cost of Bt1 billion. A majority 51-per-cent stake in the JV […]

Thilawa SEZ Construction Permit by July

Construction permits for Thilawa Special Economic Zone will be granted by July, U Set Aung, chairman of Thilawa SEZ Management Committee, said. Most of the countries seeking permit are from Asia, he added. A total of 45 companies from 11 countries have currently applied for permits for the 394-hectare (960 acres) Class A area, which […]

Hilton Worldwide Signs Agreement For Five Hilton Hotels & Resorts Properties In Myanmar

Hilton Nay Pyi Taw and Hilton Ngapali Beach Resort to open in October 2014 as first Hilton-branded properties in Myanmar Hilton Worldwide today announced the signing of management agreements with Eden Group Company Limited for five Hilton Hotels & Resorts properties in Myanmar. The partnership with Eden Group represents another significant milestone for Hilton Worldwide’s […]

Myeik hotel bidding ends amid concern over tender

Environmental groups have expressed concern over a recent tender for an ecotourism project in the Myeik Archipelago, warning that it should only go ahead if the government can ensure the winner properly adheres to environmental standards. The Forestry Department of the Ministry of Environmental Conservation and Forestry invited local and foreign companies to bid for […]