Grab to invest US$100m in Myanmar as smartphone use surges

[SINGAPORE] Grab, Southeast Asia’s biggest ride-hailing app, plans to invest US$100 million in Myanmar as it extends its battle with Uber Technologies to capture exploding use of smartphones. Grab will invest the money over the next three years and work with local governments to expand ride-hailing to more cities and roll out services such as […]

SHL Eyes Myanmar Affordable Housing Market

KUALA LUMPUR (Aug 24): SHL Consolidated Bhd’s joint venture (JV) with Japan-based Marubeni Corp is looking at tapping into Myanmar’s affordable housing market, in line with their business venture across the Association of Southeast Asian Nations (Asean) region. SHL executive director Datuk Seri Yap Chong Lee said the JV planned to leverage areas where Marubeni […]

Tourist visa-on-arrival no longer issued by Myanmar immigration

Malaysian tourists heading to Myanmar must obtain a visa before travelling out of the country as the policy of visas-on-arrival has been discontinued. Speaking to FMT, a visa officer attached to the Myanmar embassy in Malaysia said Myanmar suspended the policy of visas-on-arrival for all tourists from all countries “a few months ago” and that […]

Myanmar warns migrant workers in Malaysia

Myanmar said on Monday it had sent out safety instructions to its workers in Malaysia after attackers hacked five of them to death with swords, weeks after it barred workers from going there, partly because of security fears. Tension between the Southeast Asian neighbours has risen in recent months over the fate of Myanmar’s stateless […]

Labour Official Upbeat on Migrants-to-Malaysia Restart But no Date Set

​​ A suspension on sending migrant workers from Myanmar to Malaysia will be lifted when political conditions in the latter improve and the safety of labourers can be better assured, according to U Thein Win, director of the Ministry of Labour, Immigration and Population’s Migrant Affairs Department. The decision earlier this week to cut off the […]

Myanmar Bans Workers Going to Malaysia

​​ YANGON – Myanmar has banned workers from going to Muslim-majority Malaysia as relations sour between the neighbours over a bloody military crackdown on the Buddhist country’s Rohingya minority. The move came after Malaysian Prime Minister Najib Razak lashed out at Myanmar’s de facto leader Aung San Suu Kyi for allowing “genocide” on her watch […]

Daibochi to Invest RM29m for 60% Stake in Myanmar JV

KUALA LUMPUR: Daibochi Plastic and Packaging Industry Bhd (Daibochi) yesterday signed a memorandum of agreement (MoA) with Myanmar Smart Pack Industrial Company Ltd (MSP) to invest US$6.8 million (RM29.4 million) in its first joint venture (JV) to manufacture flexible consumer packaging outside of Malaysia. Daibochi, through its wholly-owned subsidiary Daibochi Flexibles Sdn Bhd and MSP, […]

Axiata Unit to Raise Stake in Myanmar Tower Operations

KUALA LUMPUR (NewsRise) – Axiata Group, Malaysia’s biggest telecom operator by revenue, said its infrastructure unit is buying an additional 12.5% stake in a telecom tower company in Myanmar for $35 million. The deal, which involves purchase of 250,000 shares under a put and call option agreement with YSH Finance, will raise edotco Group’s stake in […]

Myanmar’s KBZ Bank picks S’pore as launch pad to region

One of Myanmar’s biggest privately owned banks aims to use Singapore’s prime location as a launch pad to expand its commercial presence in the region. U Nyo Myint, senior managing director of Kanbawza Bank (KBZ Bank), said yesterday: “The bank is one of the most successful banks in Myanmar and we would like to expand […]

OCK secures US$40.2mil financing for Myanmar telco project

KUALA LUMPUR: OCK Group Bhd, which in December inked a deal with Telenor Myanmar Ltd to build 920 telecommunications towers in Myanmar, has clinched a syndicated term loan facility of up to US$40.2mil (RM163.9mil) for the project. The telecommunications network service provider said in a statement that its unit OCK Yangon Pte Ltd had signed […]