OCBC, UOB banks open branches in Myanmar

YANGON: Singapore banks OCBC and UOB officially opened branches in Myanmar on Thursday (Jul 2), becoming some of the first foreign banks to set up operations in the emerging economy. Singapore’s Deputy Prime Minister Teo Chee Hean, who was present at the banks’ opening ceremonies in Yangon, said the economic partnership between the Republic and […]

UOB upbeat on Myanmar outlook

United Overseas Bank (UOB) sees opportunities for Singapore companies to invest in Myanmar and ride on its rapid growth. The bank, which opened its first branch in Yangon in May, says its clients plan to invest US$300 million (S$404 million) in the country over the next 12 months. UOB expects Myanmar’s manufacturing, hospitality and infrastructure […]

UOB first foreign bank to offer Myanmar onshore loan

SINGAPORE: The Republic’s United Overseas Bank (UOB) has become the first foreign bank to announce an onshore loan in Myanmar, after nine foreign banks were granted provisional operating licences in October last year. In a statement on Tuesday (May 6), UOB said it is offering onshore financing to Rangoon Excelsior – a French-Myanmar joint venture. […]

OCBC, UOB’s Yangon branches to benefit S’pore firms in Myanmar

SINGAPORE — Singapore companies operating in or looking for opportunities in Myanmar will have an easier time navigating the emerging market with the setting up of OCBC and UOB bank branches in Yangon. The banks’ presence will help Singapore companies make transactions more efficiently in Myanmar, as well as facilitate more foreign direct investments (FDI) […]

UOB to finance new power plant in Myanmar

SINGAPORE: United Overseas Bank (UOB) announced on Monday (Apr 20) a financing agreement with Singapore-based company Royal GK – a company commissioned to help meet Myanmar’s rising demand for energy. Royal GK, an engineering procurement and construction company, was contracted by the Myanmar Central Power Co (MCPC) to procure gas engines for the construction of […]