Launch of Ooredoo’s Mobile Money Service Edges Closer

Telco Ooredoo has moved a step clos­er to launching its mobile payment service after it announced it has partnered with local lend­er CB Bank. The Qatar-backed telco says it has completed test­ing and established an internal management sys­tem but is now waiting on licence approval from the Central Bank of Myanmar (CBM). The sevice called […]

Huawei Tests 5G Technology, Eyes Potential Roll Out in Myanmar

Only a year after the arrival of 4G in Myanmar, Chinese mobile technology com­pany Huawei has revealed the roll out 5G technology could be on the horizon, according to a company executive. Huawei is in the midst of testing its 5G wireless technology but will soon be ready to distribute 5G capable phones to the […]

Microfinance Firm Hayman Secures $1m Loan as Part of Aggressive Growth Plan

Microfinance lend­er Hayman Cap­ital has secured a $1 million loan from Malaysia’s May Bank as part of an ambitious EX ­pansion plan to enlarge its loan portfolio and be­come a market leader. The company said last week that it was hoping to receive the first tranche of the loan before the start of the Thingyan […]

Cash Is Our Biggest Competitor, Says Wave Money CEO

​​ Cash is the “biggest competitor” for mobile transaction venture Wave Money as it seeks to overcome My­anmar’s aversion to non-physical money, CEO Brad Jones has said. The entire industry will benefit from increased consumer awareness when new entrants begin offering alternatives to Wave Money, he added. Qatar-based telco op­erator Ooredoo is looking to launch […]

Games Developer My Play Reaches Next Level With Hordes of New Subscribers

​​ Local games devel­oper My Play has taken on 300,000 new subscribers in the past few months, bringing the total to 900,000. The surge in demand for the company’s games is fuelled by a growing base of tech-hungry consum­ers who are still relatively new to the world of high-speed internet. Fans of My Play’s mobile […]

Bago Needs a Hotel Zone in Preparation for Myanmar’s Largest Airport, Say Hoteliers

​​ The Bago Hoteliers Association has sub­mitted a proposal to the regional cabinet for the creation of a hotel zone ahead of the opening of the proposed Hanthawaddy airport, slated for comple­tion in 2022. Without an increase in supply, Bago region’s ho­tels wouldn’t be able to match the rise in demand expected with the opening […]

 Ooredoo May Cut Prices to Fend off New Mobile Operator – Myanmar CEO

​​ Ooredoo may make its services cheap­er to prevent an in­coming competitor from taking its customers, the head of its Myanmar op­eration has said. The Qatar-based com­pany is ready to do “what­ever it takes” when Myan­mar’s fourth telco operator enters the market later this year, Ooredoo’s CEO for Myanmar, Rene Meza, told Myanmar Business Today. […]

Pun-Backed Project At Yangon’s Colonial Railway Building Wins ‘Milestone’ Government Approval

​​ The Myanmar In­vestment Com­mission (MIC) has given approval to a mixed-use mega project at the heritage listed My­anmar Railway Company building in downtown Yangon. The Landmark Devel­opment, as it’s known, is divided into two parts. The redevelopment of the colonial era Myan­mar Railway Company building into the five star Peninsula Hotel Yangon and a […]

Health Insurance Companies Struggle to Find Customers

The experimental health insurance system introduced last year has seen a mediocre 2,092 subscribers until now, indicating a huge lack of public awareness. The system started in July 2015 for a trial period of one year in order to support the public when they have health issues. State-run Myanmar Insurance Enterprise (MIE) and 11 local […]

Despite Teething Issues in MFI Sector, Hayman Capital Aims to Double Myanmar Operation in 2017

​​ Singaporian microfinance institution Hayman Capital plans to double the size of its Myanmar operation in 2017 in the wake of last year’s much welcomed regulatory changes to the government’s 2011 microfinance law. In December last year Hayman Capital Co Ltd announced it had passed K4 billion in outstanding loans, growing 129% since April 2016, […]