This ex-Goldman banker quit to take over an empire in Myanmar

SINGAPORE — When Melvyn Pun agreed to take his former boss to Myanmar in 2012, little did he know that the trip would cause him to quit his high-profile job at Goldman Sachs Group. Melvyn had wanted to stay as head of corporate sales for Asia excluding Japan at Goldman, rather than join his father […]

Govt moves to complete five power projects

Electrical consumption in Myanmar has increased to about 16 per cent on average and the government aims to complete five power projects in the 2018-19 fiscal year, said Dr Tun Naing, deputy minister for electricity and energy during a parliament session held on January 15. The deputy minister replied to a question raised by MP […]

Indian Oil planning to enhance fuel trade with Bangladesh, Myanmar

NEW DELHI: Indian Oil Corp, the nation’s largest refiner and fossil fuel retailer, in in talks with Bangladesh and Myanmar to enhance trade of petroleum products and offer its expertise to set up oil infrastructure in the two countries. This month, Indian Oil will open offices in Bangladesh and Myanmar, with a plan to closely […]

Philippines’ Metro Pacific Studies Myanmar Potentials

INFRASTRUCTURE conglomerate Metro Pacific Investments Corp. (MPIC) is studying investment opportunities in the toll-roads sector in Myanmar, Chairman Manuel V. Pangilinan said on Monday, even as the group targets to close an expressway deal in Malaysia this year. Pangilinan said his group will be scouting for expressway deals in Myanmar, which, according to documents from the […]

USGC Sees Growth Potential For Feed Production, Grain Imports In Myanmar

The Council recently conducted an on-the-ground assessment of the growth potential for Myanmar’s animal and feed manufacturing sectors – and how that growth could translate into increased exports of U.S. feed grains and co-products. “Myanmar is advantageously positioned to experience double digit growth in its livestock sector over the next five years,” said Caleb Wurth, […]

Myanma Railways, Extension of Tender for Track Recording Car. Closing Date 22 March 2018

Myanma Railways Extends the Tender Closing Date as follows: Sr No Tender No Description Initial Closing Date & Time Extension Closing Date & Time 1 16/MR/INDIA (E) 2017-2018 Track Recording Car EM 80 and Small Track Maintenance Machineries 20.2.2018 (14:30) Hr 22.3.2018 (14:30) Hr Managing Director, Myanmar Railways Ministry of Transport and Communications, Nay Pyi […]

Myanmar Officials Bet on Casinos for Boosting Chinese Tourism

Thailand features heavily in the strategies of destinations around it in attracting Chinese tourism. Thailand is by far the most popular destination in Southeast Asia for Chinese tourists, with about 9 million Chinese tourists coming to Thailand between January and November 2017. This puts pressure on destinations like Myanmar, Cambodia, and Vietnam to set themselves apart. One […]

IRD to raid shops in crackdown on illegal alcohol, cigarettes

Surprise inspections for alcohol, wine and cigarettes are beginning this month, the Internal Revenue Department said in a November 30 statement. A special team has been formed for the unannounced inspections, said an IRD official. There will be no advance warnings, he added. The IRD will seize goods that merchants have not paid tax on. […]

Serge Pun goes Where Others Fear to Tread

WHERE others see operational and regulatory risks in setting up businesses in Myanmar, Burmese tycoon Serge Pun sees opportunities – openings that he says wouldn’t fall into his lap in highly regulated and mature markets like Singapore and Hong Kong. In an interview with The Business Times on Thursday, the chairman of the Serge Pun […]

Sink-or-Swim Time for ASEAN Latecomers as Tariffs Come Down

HANOI — Cambodia, Laos, Myanmar and Vietnam are no longer getting the kid-gloves treatment in the ASEAN Economic Community. As late entrants to the Association of Southeast Asian Nations, the four countries were initially exempted from abolishing some tariffs when the bloc established the AEC at the end of 2015. As of Monday, however, they […]