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PetroChina opens its first filling station in Myanmar

PetroChina International has launched its service station in Myanmar, marking the Chinese state-run oil major’s first foray into the country’s fuel station market. The filling station is a joint venture between PetroChina International’s Singapore unit Singapore Petroleum Co (SPC) and Shwe Taung Energy Co, a subsidiary of Shwe Taung Group. Shwe Taung said it will […]

Ex-Blackwater boss moves into Myanmar security

Frontier Services Group (FSG), founded by former US military contractor Erik Prince, says it is moving into Myanmar to provide security services to Chinese and other foreign investors. Blackwater, a now-defunct private military contractor founded by Mr Prince, was condemned internationally after its employees allegedly opened fire on a Baghdad street in 2007, killing at […]

Metro’s Myanmar subsidiary secures US$20m IFC loan

The Myanmar subsidiary of German retail group Metro AG has raised a US$20m loan from the International Finance Corporation, the private-sector arm of the World Bank. The subsidiary Metro Wholesale Myanmar is a 85pc-15pc joint venture between Frankfurt-listed Metro AG and Singapore-listed Yoma Strategic Holdings, offering one-stop wholesale food service distribution for hotels, restaurants, retailers, […]

China clinches multi-billion-dollar strategic port deal with Myanmar

China has clinched a multi-billion-dollar deal to build a port + at a strategic town along the coast of the Bay of Bengal in Myanmar, its third project in India’s neighbourhood after Sri Lanka and Pakistan. China and Myanmar signed an agreement on Thursday to build the deep sea port project in Kyaukpyu town after […]

Surbana Jurong and Mitsubishi Corporation Enter Joint Venture to Set up Fund Management Company

SINGAPORE, Sept. 14, 2018 /PRNewswire/ — Surbana Jurong Capital, the newly established financial services arm of Surbana Jurong, and Mitsubishi Corporation today signed an agreement to set up a fund management company (FMC). The FMC will be a 50:50 joint venture between the two companies and will be jointly managed by both partners. The FMC […]

Thai-Myanmar Joint-Venture YIG to Produce Four Types of Gases in Yangon

Yangon Industrial Gas Company Limited, a joint-venture between Myanmar investors and Thailand’s Bangkok Industrial Gas Co. Ltd, will produce four types of industrial and medical gases in 2020. “We are now in talks for land, and have ordered machinery. The plant will start operating as soon as the machineries arrive. We expect we will be […]

Myanmar-China joint venture donates school building in Myanmar’s capital

NAY PYI TAW, Sept. 7 (Xinhua) — Myanmar-China joint venture Southeast Asia Crude Oil Pipeline Co., Ltd. (SEAOP) donated a three-storey school building in Myanmar’s capital city Nay Pyi Taw Friday. The three-storey building having 15 classrooms which can accommodate 50 students each was donated to No. (3), Basic Education High School, Pyinmana. Zhang Qiang, […]

HG Metal commits US$2m to begin cut & bend, fabrication JV in Myanmar

HG Metal Manufacturing will pay US$2 million to take a majority stake in and to capitalise a joint venture in Myanmar, according to details of an agreement announced by the steel products maker on Thursday before the market opened. Under the terms of the agreement, HG Metal will pay US$95,700 to Singapore-incorporated holding company Fortune […]

Singapore Myanmar Investco calls off Jones The Grocer franchise joint venture

SINGAPORE Myanmar Investco (SMI) has terminated a joint venture meant to procure and launch the Jones The Grocer restaurant chain in Myanmar, the company announced on Thursday before the market opened. SMI, a Myanmar-focused investment and management company, said that the “initial development location”, which was the cornerstone to launching the proposed franchise, was no […]

Myanmar allows up to 80% of foreign investment in agriculture sector

Foreign businesses have been allowed to invest up to 80 percent in Myanmar’s agriculture sector instead of 49 percent, according to Myanmar Investment Commission (MIC). “Previously, the agriculture sector seemed to protect local businesses. At that time, a foreigner was allowed to invest 40 percent while a national had the chance to invest 51 percent. […]