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Aik Htun: Driver turned Tycoon

For the owner of a business of any size, integrity is key. This is the principle that has brought U Aik Htun, one of the richest businessmen in Myanmar, through ups and downs. “The biggest secret of success is honesty and integrity,” said U Aik Htun, chair of conglomerate Shwe Taung Group, speaking in fluent […]

Myanmar energy firm plans $35m investment

DRIVEN by its vision to become an innovative leader in Myanmar’s growing energy sector, locally-owned Parami Energy Group of Companies plans to invest US$35 million (Bt1.15 billion) in its LPG (liquefied petroleum gas) business over the next three years, according to Group CEO Ken Tun, aka Pyae Wa Tun. He told a media roundtable on […]

Myanmar faces energy crossroads

Myanmar’s government has announced new oil and gas tender plans just as green shoots are being sighted in Southeast Asian upstream investment. But the country’s private sector has said tough fiscal measures must be carefully revised to entice international energy investment. The Ministry of Electricity and Energy plans to offer 18 onshore and 13 offshore […]

Rakhine receives funds from energy projects for education and infrastructure

Rakhine State has received over Ks760 million from the Shwe gas project and over US$0.8 million from the Southeast Asian oil and natural gas project for its education and basic infrastructure sectors, according to a report of a committee on implementing recommendations on Rakhine State. The report said the investment committee had been formed on […]

EGAT and PTT join forces

National oil and gas conglomerate PTT Plc has entered into a collaborative agreement with the Electricity Generating Authority of Thailand (Egat) to develop energy and gas businesses. PTT and Egat on Friday signed a memorandum of understanding (MoU) to tackle the forces disrupting the energy sector, oversee investment projects and seek new business opportunities. The […]

India to Develop Energy Network in Rakhine State of Myanmar

India is very keen to explore the shared future in energy network along with three key neighbouring countries, Bangladesh, Myanmar and Nepal. These three countries have assured India at the highest level that it will abide with the Indian proposal to build energy networks. Simultaneously, there has also been positive signs of giving greater participation […]

High potential of Myanmar Economy

The topic of economic transformation in Myanmar was thoroughly discussed at the Forum on Myanmar Democratic Transition held from 11 to 13 August 2017 in Nay Pyi Taw. The talks could generally be summed up that despite the slow economic take-off in Myanmar, the good potential of the Myanmar economy will be seen in the […]

Coal power central to gov’t energy plans

Myanmar’s energy sector will require investment of between US$30 billion and $40 billion over the next 15 to 20 years, and should focus on coal power, according to the government’s Energy Master Plan, published last month. Domestic energy consumption is forecast to almost double to 21.9 million tonnes of oil equivalent (mtoe) in 2030 from […]

Coal power continues over local objections

The Ministry of Electric Power plans to move forward with several coal-fired power plant projects despite the opposition of some civil society groups. The ministry has signed memorandums of understanding for at least 11 coal-fired projects in the country since 2010, though so far they are still at the early stage of feasibility studies, with […]

Thai’s Vintage enters into Myanmar’s alternative energy business

Attracted by the country’s growth potential, Vintage Engineering plans to pursue alternative-energy business opportunities in Myanmar via the construction of a solar energy-driven power plant, after acquiring a stake in a company holding a permit for a 220-megawatt facility. The listed company is also ready to acquire power plants in Thailand and abroad. Vintage has […]