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Singapore Myanmar Investco in share sale agreement to dispose unit for US$10.8m

MAINBOARD-listed Singapore Myanmar Investco (SMI) on Monday announced that its subsidiary, Myanmar Infrastructure Group (MIG), has entered into a US$10.8 million share sale agreement with Tiger Infrastructure for the proposed disposal of its 99.9 per cent-owned indirect subsidiary, TPR Myanmar. TPR, which was incorporated in Myanmar in 2014, is a subsidiary of MIG, and the […]

Smaller foreign companies face restrictions on leases

Smaller-scale foreign businesspeople are having difficulty securing long-term leases, which is hampering foreign investment, businesspeople say. Foreign businesspeople investing large amounts in sectors like manufacturing usually apply for permits through the Myanmar Investment Commission and can receive leases lasting up to 50 years, with the possibility of extensions. Investment that does not require MIC approval […]