Oway Group receives private equity to expand in competitive taxi market

Oway Group last week received $7 million in fresh funds from Mekong-focused private equity firm Belt Road Capital Management (BRCM), which is headquartered in Cambodia. The online travel service provider, which is founded by local entrepreneur Nay Aung, operates the mobile taxi-hailing service Oway Ride as well as oway.com.mm, Myanmar’s largest online travel portal. The […]

Daiwa invests $5m in Myanmar ride hailer Oway

Oway stake provides Japanese financial group a foothold in promising market TOKYO — Daiwa Securities Group has taken a $5 million stake in Oway, a Yangon-based online travel agency and ride-hailing service, seeking to get ahead of rivals with an early entry into the Myanmar market. Investment unit Daiwa PI Partners purchased newly issued Oway […]

Yangon stock exchange to open to foreign investors

The Securities and Exchange Commission of Myanmar is preparing to allow foreign investors to access the new Yangon Stock Exchange and for local-foreign joint ventures to list, chair U Maung Maung Win said. An “appropriate” number of joint venture companies will be given permission to go public as soon as the new Myanmar Companies Act […]

KBZ launches Yangon stock exchange settlement system

Kanbawza Bank signed yesterday with the Yangon Stock Exchange (YSX) to run settlement and clearing operations for Myanmar’s first modern bourse. Last April the bank was chosen from among six local private banks who applied for the role to the Securities and Exchange Commission (SECM) of Myanmar. It will be responsible for delivering payments for […]

Stock market delayed due to election

The launch of the Yangon Stock Exchange has been pushed back until after the November 8 election, according to deputy finance minister Dr Maung Maung Thein. The stock exchange had initially been scheduled to be launched in late October, but the new date is roughly scheduled to be the third or fourth week of November […]

Daiwa’s stock underwriter bid raises finance industry’s eyebrows

Japanese securities company Daiwa Securities Group has entered a bid for an underwriter licence along with its Myanmar partner, prompting some observers to question whether the firm and its sister companies may be positioned for too much control on the forthcoming Yangon Stock Exchange. The firm submitted a bid by March 6 to be an […]

Ks 32 billion to kickstart Yangon Stock Exchange

The Yangon Stock Exchange, which aims to start trading by October 2015, will begin with a starting capital of Ks 32 billion according to a deputy finance minister. Japan’s Daiwa and Tokyo Exchange will help support Myanmar’s new stock exchange and have invested a 49 percent stake in the venture. A draft contract is awaiting […]

Joint venture to invest Ks 32 billion in stock exchange

A joint venture between Japan’s Daiwa and a local Myanmar company still to be disclosed will invest Ks 32 billion to establish a stock exchange in Myanmar. The Deputy Minister for Finance Maung Maung Thein told media on Saturday that the Myanmar company will retain 51 percent shares while Daiwa will retain the rest. “The […]