Chinese firm finalises new Yangon city proposal

The government body in charge of developing an ambitious new Yangon city project has reached the final stage in negotiations with China Communications Construction Company (CCCC) in preparing pre-project documents (PPD). Launched by the regional government in March via a 100pc government-owned New Yangon Development Co (NYDC), the new city project covers an area twice […]

Memories bets on tourist boom in Myanmar

ONE of Myanmar’s most well-known tycoons, and dubbed “Mr Clean” for his business dealings, Serge Pun finds magic in creating something from nothing. “I love the challenge of building something from scratch, like taking a barren tract of land, and sculpting it into a sprawling golf course or a beautiful residential estate,” said the executive […]

Yoma Strategic mulls mergers for new tourism firm with an eye on the SGX

Yoma Strategic Holdings is restructuring its tourism assets and plans to create a new Myanmar tourism-focused firm that will merge with other players in the sector and potentially list on the Singapore exchange, Yoma’s chief executive told The Myanmar Times. The company announced on September 2 that it had bought the remaining 25 percent it did […]

Banks mull taking shares as collateral

Investors in Yangon Stock Exchange-listed firms could soon be able to use their shares to access bank loans. The YSX is in discussions with listed companies and lenders about a system for posting stock as collateral, which shareholders are eager to see put in place. Tycoon Serge Pun – owner of listed firm First Myanmar […]

FMI narrows in on stock market listing

Yangon took on a bit of the flair of the American city of Omaha over the weekend. Omaha is home to Warren Buffett-led Berkshire Hathaway. Its annual shareholders meeting is a closely-watched event, a mainstay on the calendar of international investors where Mr Buffett takes on eight hours of business and investment questions. The closest […]

FMI ‘first and only’ company to list on YSX, says Pun

First Myanmar Investment (FMI) Company will be the first, and for the time being the only, company to launch an initial public offering (IPO) on the Yangon Stock Exchange (YSX) when it opens later this year, according to company chair Serge Pun. Speculation over which firms will attempt to list has intensified as the exchange […]