Mandalay merchants deny scandal

Merchants from Mandalay Region have rebutted a social-media rumour that six bean dealers have stolen millions of kyat. Soe Win Myint, owner of the Soe Win Myint wholesale centre, said: “In Mandalay we don’t run away because of debts. Well, some did in the past, but the number was insignificantly low.” Although he confirmed the […]

Rent for Yangon Zoo to be raised

The Yangon Regional government said it will raise rental fees for the Yangon Zoological Garden, which is run by the Htoo Group of Companies from Ks 70 million (US$ 70,000) to Ks 77 million per year. “The rental fee will be increased by 10 per cent starting April 1 of this year,” a spokesperson for […]

A taxing matter for the real estate sector

Will the assessment scheme halt soaring land prices? Real estate agents say a government move to generate more taxation revenue from property transactions has assessed the value of land, houses and apartments in Yangon at about 40 percent of market prices. The reaction follows the release by the Ministry of Revenue and Finance in September […]