Military controlled UMEHL Among 29 Firms Changing to be Normal Companies

​​ ​​ Some 29 firms accepted as special companies under two old laws have been allowed to change to just be companies under the 1914 Myanmar Companies Act, the Ministry of Planning and Finance has said. The firms include the Union of Myanmar Economic Holdings Ltd (UMEHL) – the Tatmadaw’s economic arm – plus subsidiaries […]

Myanmar Set to ‘Easily’ Reach $7bn in Foreign Investment This Fiscal Year

​​ Foreign investment has reached $5.78 billion for this fiscal year so far, meaning the country is all but guar­anteed to hit its target of attracting $6 billion of in­flows, and is very likely to exceed it. U Aung Naing Oo, Di­rector General of the Di­rectorate of Investment and Company Admin­istration, indicated last week that […]

Amendments to Myanmar Companies Act up for Parliamentary Discussion

​​ RANGOON — Suggested amendments to the Myanmar Companies Act have been written and submitted by the Ministry of National Planning and Finance to the government for discussion in upcoming Union Parliament sessions. The Myanmar Companies Act was established in 1914, when Burma was under British rule. The National Planning and Finance Ministry has, in […]

Myanmar Hopes to Overtake Singapore Economically in 20 Years’ Time: Suu Kyi

SINGAPORE: Myanmar hopes to overtake Singapore’s economy in 20 years’ time and the country is hoping that Singapore will lend a helping hand, said Myanmar State Counsellor Aung San Suu Kyi on Wednesday (Nov 30). Speaking at the IE Singapore’s Global Conversations business dialogue, Ms Suu Kyi, who is in Singapore for a three-day official […]

Companies Act in Government’s Sights

Now that the Myanmar Investment Law has been passed by both houses of parliament, attention turns to the new Myanmar Companies Act, which senior business sector figures say will be key in improving corporate governance. The investment law, which will combine and replace the Foreign Investment Law and the Myanmar Citizens Investment Law, was passed by […]

Transforming Myanmar’s corporate landscape – Aung Naing Oo and Winfried Wicklein

For more than a century Myanmar companies have been regulated by the colonial-era Myanmar Companies Act of 1914. The law shares similarities with company laws from other former British colonies such as Singapore, Malaysia and Hong Kong – yet while they have updated their laws to reflect the realities of modern businesses, the Myanmar Companies […]

More transparency needed from local business: MCRB

A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required – according to a recent report from the Myanmar Centre for Responsible Business (MCRB). There is huge variation in the approach Myanmar’s […]

Transforming Myanmar’s corporate landscape

For more than a century Myanmar companies have been regulated by the colonial-era Myanmar Companies Act of 1914. The law shares similarities with company laws from other former British colonies such as Singapore, Malaysia and Hong Kong – yet while they have updated their laws to reflect the realities of modern businesses, the Myanmar Companies […]

Securities Commission Says Foreigners Cannot Buy Shares This Year

NAYPYIDAW — The Securities and Exchange Commission of Myanmar (SECM) will not allow foreigners to buy shares on the Yangon Stock Exchange (YSX) this year, said Maung Maung Win, deputy minister of the Ministry of National Planning and Finance. Only two companies have listed on the YSX to date—First Myanmar Investment (FMI) and Myanmar Thilawa […]

New Companies Act to relieve some burdens on SMEs

The upgraded Myanmar companies act will remove some burdens on small and medium enterprises, according to the Directorate of Investment and Companies Administration (DICA). “We have upgraded some of the provisions (of the existing Myanmar companies act) to be in line with the current situations and to help promote the SMEs and small companies in […]