Myanmar Investment Full Year Net Asset Value Increases Over 20%

LONDON (Alliance News) – Myanmar Investments International Ltd said on Monday its full year net asset value increased 20.3% year-on-year to USD29.2 million as its loss widened due to costs relating to joint ventures and operating expenses. Myanmar Investment’s pretax loss widened to USD2.8 million in the financial year ended March 31 from USD2.2 million […]

Strengthening Myanmar’s banking sector is key to economic growth

Central to Myanmar’s economic development is the reform of its finance sector and specifically its banking sector. Banks play a fundamental role in the transformation of market economies. Recently the government has enacted a series of laws intended to reform and strengthen its banking institutions to restore investors’ confidence and to make capital more accessible. […]

Japanese joint-venture plans Yangon hotel

Hotel Okura Co Ltd said it would develop the luxury Okura Prestige Hotel with Ayeyar Hinthar Holdings Co Ltd in Yangon by 2020, with five more hotels due in the next five years. The company expects to sign a contract with Yangon Technical and Trading Co Ltd, a subsidiary of Ayeyar Hinthar, in August, working […]

Myanmar workers in Thailand victims of a broken system

MYAWADDY, Myanmar: With only meagre belongings stuffed into backpacks and duffel bags, tens of thousands of Myanmar migrants have streamed home across the Thai border over the past two weeks. But it is not a joyous homecoming for the truckloads of men and women, who fled Thailand in fear of a new law that hardens […]

Promise and hurdles for foreign investment in Myanmar

Having keen observer and participant in the Myanmar’s transition since socio political changes commencing in 2011, it came as no surprise to those that know me, when I wrote a number of articles on the importance of sound Corporate Governance. As a serial entrepreneur, Myanmar represented a frontier market that was open for investment with […]

AYA Bank selects Misys Fusion Banking Suite for next transformation project

AYA Bank (Ayeyarwady Bank) has selected the Misys Fusion Banking suite to support a transformative project which will overhaul its core banking system, digitalise operations and improve overall efficiency throughout the organisation, according to a press release. U ZawZaw, Chairman, AYA Bank said, “It’s thrilling to see more of our vision for AYA Bank come […]

IRD lowers stamp duty on property

The Internal Revenue Department (IRD) has announced that stamp duty for buying, transferring and mortgaging property will be reduced to 4 percent. The decision on the stamp duty reduction is a measure to boost the real estate industry. The current rate for stamp duty is 5pc. The 1pc reduction came after businesses on May 20 […]

How does mining benefit Myanmar?

Author: Jan Dharmabandu is a mining engineer and a Chartered Environmentalist attached to Perth based Ensys Consultants. This article originally appeared in the Global New Light of Myanmar on 30th May 2017 as “What is & Why Mining: a Perspective from Myanmar”.   Each year about 5 billion tonnes of minerals are mined from the […]

GDP growth not enough for economic progress

The advent of new government is likely to provide a short-term boost to GDP, but long-term inclusive economic growth will be more difficult, said government officials and economists at a conference this week. The two-day conference, held on January 11-12 at the Yangon Economics Institute, was titled “New Myanmar beyond 2015: The need for a […]

How ASEAN should navigate a tricky 2016

Many turbulent events in 2015 were symptoms of a world lacking in optimism and growth, and facing possible changes in the global order. Even as social and economic uncertainties continue, competition is increasing among major powers, especially between the US and China. There is not much that smaller countries can do to directly change these […]