Myanmar moves to stave off credit crunch

NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]

Myanmar’s new Companies Act can be ‘game changer’

TOKYO — Little in the way of positive news has come out of Myanmar in recent months. The situation in Rakhine State has seen de facto leader Aung San Suu Kyi come in for severe criticism from the international community as her government struggles to deal with the crisis and the realities of running the […]

Myanmar casts its net for a global terminal operator as port expands

Myanmar’s largest container port is in the process of bringing on a global terminal operator as majority shareholder. One of four inner-city terminals on Yangon River, Myanmar Industrial Port (MIP) handles 400,000 teu a year – about 40% of the country’s container throughput. According to chief financial officer Chris O’Connor, MIP is reviewing bids from […]

Capital Diamond Star Group seeks to raise profile, enter regional markets

Capital Diamond Star Group has kept a low profile for most of its history; at least as much as is possible for a company of 7000 employees and some of Myanmar’s major brands to stay out of the limelight. Beginning as a humble agriculture trading company in Mandalay in the 1960s, it has expanded to […]

Thailand’s True Seeks Foreign Partner for Southeast Asia Expansion

BANGKOK — Thai telecommunications group True Corp PCL wants to take on a foreign partner in the second half of this year to help it expand in Southeast Asia, its chief executive said on Thursday. True Corp, controlled by Thailand’s richest man Dhanin Chearavanont, plans to offer any potential partner new shares equivalent to about […]

Thailand’s True in talks to operate mobile service in Myanmar

BANGKOK/YANGON, Feb 26 (Reuters) – Thailand’s True Corp Pcl is in talks with Myanmar’s Yatanarpon Teleport (YTP) on jointly starting mobile phone operations in Myanmar, a senior True executive said on Wednesday. “We are in the process of negotiating with YTP. If successful, we need to seek approval from True Corp’s board and then we […]