Yangon Stock Exchange to open amidst suspicion

Many analysts believe the Yangon Stock Exchange, which will be fully operational by March this year, is opening with unfair advantages and possible conflicts of interests. The Yangon Stock Exchange (YSX) automatically entered the US sanctions blacklist as the Myanmar Economic Bank, an entity already sanctioned by the US Treasury Department’s Office of Foreign Assets […]

Myanmar anticipates good prospects after opening of AIIB

Myanmar is anticipating good prospects after the opening of China-initiated Asian Infrastructure Investment Bank (AIIB), a finance official said here Thursday. “Our expectation and view on the opening of the AIIB are good and clear, that was why we participated as a founding member. The AIIB is assumed as a dependable bank which supports regional […]

Stock exchange could catch Vietnam: deputy minister

Yangon Stock Exchange has good prospects and is likely to catch up with Vietnam’s stock exchange within three years, according to Dr Maung Maung Thein, deputy finance minister. Established in 2000, the Ho Chi Minh City Securities Trading Centre is the largest stock exchange in Vietnam. In 2010, it listed about 250 companies with capital […]

Marsh Opens Myanmar Rep Office to Tap Insurance Broking Business

American insurance broking and risk management firm Marsh has opened its Yangon representative office in Myanmar. The Marsh Singapore Yangon Representative Office will conduct market research and feasibility studies for insurance broking business in Myanmar, and provide business support and liaison activities on behalf of Marsh Singapore’s businesses, the company said. Marsh Singapore is a […]

JLT to Provide Reinsurance Service in Myanmar

Jardine Lloyd Thompson (JLT) plans to offer reinsurance services to state-run Myanmar Insurance Enterprise (MIE), the British insurance firm said after it opened its representative office in Yangon on September 12. The company joins a growing list of international insurers that have established local offices in Myanmar after the country opened its doors to foreign […]

Underwriters under the microscope

The chosen firms are now being vetted by other government departments to ensure they are being funded through clean money, he said in an interview yesterday. Dr Maung Maung Thein also declined to announce which firms have been selected, saying only that the information will be available on October 1. A total of 20 applications […]

Uptown office added for Myanma Insurance

Currently its main office is in Pabedan township on Strand Road, but given increasing traffic levels, this is inconvenient for many people, said deputy finance minister Dr Maung Maung Thein at the opening on September 8. The new office was arrange with assistance of the Road Transportation Administration Department, and will be outfitted with six […]

Private Insurers Take Hold in Myanmar

Sept. 8, 2015 3:30 p.m. ET YANGON, Myanmar—Over cups of sweet tea at Yangon University, Nyi Nyi Min Htet pitches the benefits of car insurance from his mobile phone to drivers who navigate the chaotic streets of the country’s largest city. But it often proves to be a tough sell. Few Burmese understand insurance or […]

Tax to be levied on stock exchange investments

This will be the case initially, even though other countries such as Vietnam are untying their investors from tax, said Dr Maung Maung Thein, chair of the Securities and Exchange Commission Myanmar (SECM) and deputy finance minister, on August 29. However, he provided no information about the value of tax that investors will be charged, […]

No foreign-local joint ventures to list on YSX at first

Joint ventures between local and foreign companies will not be permitted to list on the Yangon Stock Exchange at first, according to Dr Maung Maung Thein, chair of the Securities Exchange Commission of Myanmar. While the rules will eventually be changed to allow for foreign-local joint ventures to sell shares, that may be some time […]