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Corporate dynasties join forces to defy Myanmar market gloom

The Pun corporate empire has secured the support of a fellow Southeast Asian business dynasty, signalling their confidence in the future of Myanmar despite the ineffectual economic reforms and uncertain fallout from the Rakhine crisis. Serge Pun says Asian companies still see value in Myanmar and are “smarter” than their Western competitors. Ayala Corp, a […]

Myanmar stocks surge on hope of foreign funding

Expectations are growing for an influx of foreign investment into Myanmar two months after local authorities said they would lift restrictions to allow overseas investors to trade shares of locally listed companies. The Myanmar Stock Price Index or Myanpix surged 10% in August, despite the turmoil in global markets, on such expectations. Indeed, local investors […]

IFC takes stake in Yoma Bank in first for Myanmar

Yoma Bank has become Myanmar’s first commercial lender with a foreign stakeholder following a decision by the International Finance Corporation (IFC) to convert a US$5 million loan into a five percent equity shareholding. The IFC, the investment arm of the World Bank Group, provided the convertible loan package to Yoma Bank in 2014 to help […]

CityMart replaces FMI to rank first in Pwint Thit Sa corporate disclosure report

Familiar names featured among the top ranked companies in the latest Pwint Thit Sa report on corporate governance and transparency, which for the first time assessed the performance of leading state-owned economic enterprises. The fifth Pwint Thit Sa report by the Myanmar Centre for Responsible Business, completed in partnership with business consultancy, Yever, assessed information […]

Rakhine opens new beaches for hotel, tourism investments

The Ministry of Hotels and Tourism and the Rakhine State Government will open up new beaches along the Rakhine coast for new hotel projects in order to draw more tourism investments into the state, said U Ye Aung Moe, director of Ministry of Hotels and Tourism. So far, the ministry has designated the Gyite Taw, […]

FMI changes name, revises constitution

Yangon Stock Exchange-listed First Myanmar Investment (FMI) Company announced on Saturday that it will be adopting a new name and constitution in accordance with the Myanmar Companies Law. At the first special general meeting held in Yangon’s National Theatre, the firm said that a new constitution will replace current memorandum and articles of association, as […]

OUELH expands into Myanmar healthcare with US$19.5m acquisition

OUE Lippo Healthcare (OUELH) is venturing into Myanmar with stake acquisitions in two joint venture companies that own three hospitals, one medical centre and two clinics. This will give the company presence in the key cities of Yangon, Mandalay and Taunggyi, the subsidiary company of OUE Limited said on Thursday. OUELH’s wholly owned units have […]

Myanmar property group sees its future in consumer sector

In the heart of Yangon, the commercial capital of Myanmar, the former headquarters of Myanmar Railways is surrounded by white steel frames. The historic redbrick building, more than a century old, is being restored and will be the future site of the Peninsula Yangon, a luxury hotel set to open in 2021. The grand structure […]

Yangon Stock Exchange sees highest trade in July

July saw the highest trade so far this year at the Yangon Stock Exchange or YSX, according to local media. The value of traded stocks on the YSX last month hit a high of Ks1.23 billion, according to monthly trading data released online by YSX and reported by the Global New Light of Myanmar. While […]

FMI ventures into affordable housing

First Myanmar Investment (FMI) will be investing in the affordable housing sector in a bid to offset falling revenue from its construction businesses, FMI chair Serge Pun said during the firm’s 26th annual general meeting, held at the Yangon National Theatre, on July 29. He said the domestic property sector has no demand as those […]