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Yangon Region losing electricity units worth over K1.6bn yearly

Government suffers losses of K1.6 billion per year as each of 45 townships in Yangon Region see loss of electricity units worth about K30 million every month, said MP Yan Aung for Mingalar Taungnyunt Township Constituency No (2). The MP made the remark in his question about any plan to prevent electricity unit losses and […]

Yangon Region Auditor General warns about possible losses on projects

Yangon Region government has invested Ks-134 billion—Ks-54 billion in Yangon Metropolitan Development Public Co., Ltd (YMD), Ks-10 billion in New Yangon Development Corporation and Ks-70 billion in the YBPC (Yangon Bus Public Company) and the Yangon Urban Public Transportation Public Co., Ltd (YUPT), according to the audit report by Yangon Region Auditor General. According to […]

Myanmar National to seek foreign funds for fleet upgrade

Myanmar National Airlines (UB, Yangon) will seek foreign investors to finance the upgrade of the carrier’s international fleet and it has also approached the Myanma Port Authority in this regard, Director U Myint Aung has told The Myanmar Times. The Myanmarese flag carrier has been unprofitable since its corporatisation in 2013 but hopes to post […]

Dealers put the brakes on car imports

An expected drop in import costs set for January has left thousands of imported vehicles sitting in containers at Yangon Port as dealers fear that bringing them into the market now could result in losses. Officials said that sellers are expected to impose a reduction in transportation and insurance costs to dealers termed Cost, Insurance […]