KBZ to provide 24-hour service for trade-related payments via MPU

Kanbawza Bank has prepared to offer its around-the-clock service for trade-related payments through Myanmar Payment Union-MPU system, said U Aung Kyaw Myo, Deputy CEO of the KBZ Bank. The announcement for the payment system change came at the workshop on trade transaction payments with Myanmar Payment Union (MPU) system and expanding the fully online licensing […]

Yoma JCB holds official launch ceremony in Yangon

Yoma Strategic Holdings Ltd. announced that its wholly-owned subsidiary, Convenience Prosperity Company Limited (CPCL), held its official launch ceremony for its JCB heavy equipment products in Yangon on 17 May. CPCL is the exclusive distributor for JCB construction equipment in Myanmar and started operations in January 2017. The official launch ceremony held at Pun Hlaing […]

Rangoon Taxis Need Reform

Rangoon has around 70,000 taxis plying the city’s streets, many owned and run by individuals. There are two local pioneering app-based cab service providers—Hello Cabs and Oway Ride—cultivating a culture in which apps are used to hail taxis in the city since 2016. The two are now set to compete with foreign brands: Singapore-based firm […]

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 […]

Foreign investment booms in Myanmar telecoms

Overseas companies spent big on building mobile phone infrastructure in Myanmar over the past year, while they took a break from exploring oil and gas. Foreign investment in Myanmar’s transportation and telecommunications sectors surged to $3.08 billion for the year ended March, a 60% jump. In contrast, spending in the gas and oil industry — […]

Loesche to supply mills to Myanmar

Loesche has received an order for two cement mills (cement/slag) from the South Korean company, Yojin Construction & Engineering Co. Ltd. The two vertical roller mills a modern and reliable, and will be used in the company’s new clinker grinding plant in Thilawa, Myanmar. They will produce around 75 tph of clinker cement, with a […]

MPT chooses Gemalto services to enrich Myanmar customers’ mobile experience

Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, and MPT, the country’s no.1 Telecom operator serving 23 million[1] mobile subscribers, are extending their partnership. MPT has acquired Gemalto’s Device Management and Advanced Over-The-Air (AOTA), in a bid to strengthen the relationship with its subscribers and expand its service portfolios. As the fourth[2] fastest-growing […]

Metro Group and Yoma Strategic Holdings sign joint venture agreement for wholesale distribution in Myanmar

Metro Group Wholesale & Food Specialist Company announces its joint venture partnership with the Singapore-listed Myanmar-focused Yoma Strategic Holdings Ltd. to develop a one stop food distribution platform in Myanmar. According to the agreement, METRO will take an 85% stake in the newly established joint venture called METRO Wholesale Myanmar Ltd., with the remaining 15% […]

ADB Trade Finance Program Marks Milestone with First Transaction in Myanmar

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) has issued its first guarantee for Myanmar, supporting the import of fertilizers from Italy. The guarantee was issued in favor of Banca Popolare di Sondrio in Italy in respect of the payment obligation of United Amara Bank (UAB), one of TFP’s local partner banks in Myanmar. […]

Top Myanmar retailer to launch e-wallet with Thai technology

Win Win Tint, founder and managing director of CMHL, said in an exclusive interview that the firms recently signed a memorandum of understanding to form a joint venture. According to the pact, T2P will share its experience in developing both fintech and customer-loyalty programmes of the retailer by providing the technology to run its loyalty […]