Frustration mounts as Kyaukphyu port negotiations stall

Kyaukphyu’s Chinese investors have hit back at criticisms over their majority stake in a proposed deep-sea port in Rakhine. They emphasised that it was the Myanmar government who drew up the shareholder structure and that the ball is in Nay Pyi Taw’s court to break the inertia and move the negotiations forward. Kyaukphyu is the […]

Timber group replaces sub-contractors with service providers

This comes after it previously said no more sub-contracts would be issued. It announced that the decision to hire service providers was due to the MTE’s capacity limits. Experts have questioned the differences between sub-contractors and service providers and argued that transparency is essential in any reformed processes. Last year, the MTE announced that it […]

Transparency, Ongoing Disclosure Crucial for Stakeholder and Investor Confidence

Transparency and disclosure practices are crucial for businesses seeking to build trust with stakeholders, attract investors and ensure accurate media reporting, experts in a corporate governance forum have said. The International Finance Corporation (IFC), a member of the World Bank Group, and the Securities and Exchange Commission of Myanmar (SECM) organised a forum at the Yangon […]

One of world’s biggest superyachts ‘built using illegal Burmese timber’

A German shipyard used illegally-sourced teak from Myanmar to construct a superyacht for a Russian billionaire, a public prosecutor has claimed. Nobiskrug shipyard on the river Eider used wood supplied by a Burmese government-controlled firm which was sanctioned earlier this year for exporting teak from threatened forests, lawyer for the state Axel Bieler said. Timber […]

Environmental Agency Praises Danish Divestment from Burmese Teak

​​ RANGOON – An international environmental NGO, the Environmental Investigation Agency (EIA), has said it welcomed the Danish authorities’ ruling banning Burmese teak from its markets. The decision was the second such move from Scandinavia, following a similar Swedish ruling last November. Danish authorities ruled on Monday, March 13 that injunctions be placed on all […]

Myanma Timber Enterprise to Respond to Danish Teak Sanctions

​​ Danish authorities have made a ruling to place injunctions on all seven Danish operators bringing Myanmar teak into the Scandinavian country. Myanma Timber Enterprise (MTE) has plans to respond to the sanctions placed on the entire Myanmar teak industry, according to U Khin Maung Kyi, deputy general manager (extraction) of MTE. “We will somehow […]

Swedish Court rules Against Importer of Myanmar Timber

Sweden has prosecuted an importer and trader of Myanmar teak under an European Union rule that bans placing illegal or high-risk wood on the EU market, according to information from the NGO Environmental Investigation Agency (EIA). An EIA statement yesterday announced that a Swedish Forest Agency investigation found Almtra Nordic could not demonstrate who had […]

Illegal Myanmar Teak Importation Widespread to EU, Investigation Finds

The Environmental Investigation Agency (EIA) released allegations Tuesday about what it says is the illegal importation of Burmese teak from Myanmar to the EU. In a two-month undercover investigation, staff from EIA, a UK-based campaigning organization, posed as prospective buyers and approached nine importers working in five EU countries. In a brief, the organization reports […]

Can Myanmar’s Natural Gas riches reel in serious investment?

After five decades of oil and gas exploration stagnation and mismanagement of natural resources under military rule, Myanmar (formerly Burma) in March elected its first non-military president since the 1962 coup, and if it all plays out right, it could open the floodgates for investment in this strategically vital oil and gas venue. On 15 […]

Myanmar races ahead as we (Thailand) back-pedal

All eyes have been on Myanmar this week as it finally voted a new president, Htin Kyaw, into office, in so doing becoming the latest debutante into the democratic club. A close aide (for many he is a proxy) of democracy icon Aug San Suu Kyi, who is blocked from taking up the role due […]