XMH Holdings enters into Myanmar joint venture

SINGAPORE – Diesel engine and power generating solution provider XMH Holdings has set up a joint venture company in Myanmar to manufacture transformers, generator sets and power solution products. XMH Holdings’ unit XMH Engineering has a 50 per cent stake in the joint venture entity, while Myanmar MarcoPolo will hold 25 per cent and Bulox […]

National Prosperity Company under scrutiny on gold debt to gov’t

Negotiations are currently being carried out for NPC to make the payments. The company owes 5.5 tonnes of gold (over 3,400 viss) priced at a fixed rate to the government. NPC has an 8-year contract with the government to mine for gold in the resource-rich Moehti Moemi area, which spans over 6,000 acres of land. […]

FMI swaps share certificates for digital accounts

First Myanmar Investment (FMI), owned by businessperson Serge Pun, has asked its shareholders to open digital accounts, ahead of the company’s planned listing on the new Yangon Stock Exchange later this year, officials said. It is working with two securities companies on its initial public offering – KBZ Stirling Coleman Securities (KBZSC) and Myanmar Securities […]

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 […]