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Deal Signed to Purchase Power from Kyaukphyu Power Plant Project

According to a statement from the MOEE, the power purchase agreement (PPA) was signed last Tuesday. Kyauk Phyu Electric Power Co is a joint venture between Myanmar’s Supreme Group and Chinese state-owned firm Power China. The gas-fired power plant in Kyaukphyu, Rakhine State, is one of four projects expected to generate a total of 3111MW […]

IKBZ Insurance restructures to incorporate life options

IKBZ Insurance on Tuesday announced the launch of IKBZ Life, a new insurance company fully dedicated to life insurance products, in compliance with regulations by the Insurance Business Regulatory Board (IBRB). IKBZ Insurance is a general insurance company which obtained preliminary approval to operate a joint venture with Japanese insurance provider Mitsui Sumitomo Insurance on […]

Berjaya Land to build smart affordable homes in Myanmar

Berjaya Land is making a foray into building smart affordable homes here with a gross development value (GDV) of US$624 million. Disclosing this, Country Head and Chief Executive Officer Datuk Pee Kang Seng said the project, expected to take off in 2020, is located about 40 minutes from downtown Yangon on a 74.05 hectare piece […]

CB Insurance and Thai Life signs JV agreement

Yangon-based Citizen Business Insurance Public Ltd (CB Insurance) has formalised a joint venture with Thai Life Insurance PCL (Thai Life) through an agreement signed on August 16 that will see both companies working together to offer new insurance products in the Myanmar market. Part of the CB group of companies that includes Co-operative Bank Ltd, […]

Invitation for Bids – Yangon Mandalay Railway Improvement Project Phase II, Deadline: 18th September, 2019

The Republic of the Union of Myanmar Ministry of Transport and Communications Yangon Mandalay Railway Improvement Project Phase II Invitation for Bids Date: 5th August 2019 Loan Agreement No: MY-P26 dated 29th March, 2018 IFB No: IFB-MR/BD/2107 The Government of the Republic of the Union of Myanmar has received a loan from Japan International Cooperation […]

Pernod Ricard kicks off Myanmar spirits JV

Pernod Ricard has completed the formation of its Myanmar spirits joint-venture. The partnership, first announced last year, sees Pernod begin operations in Myanmar with existing joint-venture Access Myanmar Distribution Co. just-drinks understands that Pernod will take a 34% stake in the new arrangement, with the remaining control shared among Access’s three partners. The JV will […]

Foreign partners poised to aid growth in Myanmar’s life insurance sector

YANGON—While joint-venture proposals from foreign insurance companies are being reviewed by the country’s insurance business regulatory board, some of Myanmar’s largest insurance companies are already building bridges to leverage foreign expertise for the growth of Myanmar’s nascent insurance industry. After two years of delays, Myanmar began allowing insurance companies to operate in the country’s life […]

Kayah State to get US$50 million metal refinery

A Myanmar-China joint venture will be building a metal refinery worth US$50 million located in Myanmar’s eastern Kayah State’s capital of Loikaw. The Directorate of Investment and Company Administration (DICA) said in a statement that the joint venture, Global South Industrial Company (GSIC), was granted permission to build the refinery in Loikaw’s industrial zone. DICA […]

Pernod Ricard takes 34% stake in Yoma whisky joint venture

FRENCH spirits giant Pernod Ricard has completed a deal to take a 34 per cent stake in Seagram MM Holdings, a joint venture between mainboard-listed Yoma Strategic, the Win Brothers and Delta Capital Myanmar which will produce and distribute whisky in Myanmar. Seagram MM Holdings is the holding company of Seagram Myanmar Company, a subsidiary […]

Japan insurers enter Myanmar in joint-venture frenzy

TOKYO/YANGON — Five Japanese insurers have teamed up with local players to enter Myanmar’s fledgling insurance market, looking to provide such products as annuities and automobile policies to a largely uninsured population. The Myanmar government announced in January that foreign insurance companies would be allowed offer products in the country, either on their own or […]