Myanmar Payment Union to Upgrade ATM Card System

RANGOON — The Myanmar Payment Union (MPU) signed with Vietnamese telecom multinational FPT and the National Payment Corporation of Vietnam (NAPAS) on Sunday to initiate a financial switching system, Zaw Lin Htut, chief executive officer of the MPU, told The Irrawaddy. As MPU’s partners, FPT and NAPAS will—starting this year—help facilitate a system upgrade for ATM […]

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. […]

APR Engery’s Kyaukse power plant project extended through 2016

APR Energy plc, a global leader in fast-track power solutions, announced today that its 102MW project in Myanmar has been extended through 2016, with financial terms similar to those in the initial agreement, according to statement from the company on 17 November. The original contract for the plant, signed in February 2014, was the first […]

Telenor Tries to Keep Network Operational as Flood Worsens

Telenor Myanmar said it is working closely with tower companies and local relief authorities to ensure their cellular network remains operational in the face of worsening flood conditions in parts of the country. The Norwegian operator announced last week that 41 of the 2,585 sites on Telenor’s network have either been shut down due to […]

Apollo Towers awarded 700 new telecom towers from Telenor

YANGON, Myanmar – Apollo Towers Myanmar Ltd. announces that it has signed a new purchase order of more than 700 new telecom towers with Telenor Myanmar Ltd. The appointment of Apollo Towers Myanmar supports Telenor’s plan of continuing its rapid roll out of a modern mobile communications network in the country. Telenor Myanmar is eager […]

Luxury hotel agreement signed for former MR headquarters

Hongkong and Shanghai Hotels Limited and Yoma Strategic Holdings Ltd.,have signed an agreement to convert the former Myanmar Railways headquarters in downtown Yangon into a luxury hotel, they announced in a joint news release. The shareholders’ agreement to restore the former MR headquarters on BogyokeAung San Road into a hotel to be called The Peninsula […]

Telenor plans September launch

Norway-based telecommunications company Telenor is planning to launch its network in Myanmar in September, it announced in a June 3 news release. Telenor says it will launch the network after building 1,000 mobile phone towers, and it plans to erect up to 400 a month until it has a total of 8,000. Telenor’s 3G network […]

Thai-Myanmar medical collaboration inked

World Medical Centre, a branch of Bangkok Chain Hospital (BCH), has signed a memorandum of understanding with Family Mandalar in Myanmar to undertake the former’s first operation outside Thailand. WMC aims to become a medical centre in Asean over the next three to five years. Dr Chalerm Harnpanich, chief executive officer of BCH, said that […]

Private Myanmar newspapers struggle to stay afloat

YANGON, Myanmar (AP) — With tears in his eyes, the chief editor scoured the last-ever edition of his newspaper before sending the proofread copy to the printing press. His once-bustling newsroom was quiet. Some reporters cleared their desks while others tried to cheer up their boss with words of gratitude, or even some homemade pork […]

Singapore-Listed Yoma Expands Into Coffee in Myanmar

SINGAPORE — Singapore-listed Yoma Strategic Holdings Ltd plans to set up what it says could become the biggest coffee plantation in Myanmar, hoping the frontier economy has the potential to develop a strong coffee industry. The Myanmar-focused property conglomerate, led by chairman Serge Pun, said on Tuesday it has signed a deal to set up […]