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Sembcorp starts commercial operation of 225-MW Myanmar power plant

SEMBCORP Industries on Wednesday announced that its 225-megawatt gas-fired Sembcorp Myingyan Independent Power Plant (IPP) in Mandalay, Myanmar, has successfully commenced full commercial operation following its first phase operation in May this year. The approximately US$300 million power plant uses advanced combined-cycle gas turbine technology that maximises power output while minimising emissions. With the successful […]

Traders expect better business on wider trade financing options

Now that the Central Bank of Myanmar (CBM) has allowed a total of seven foreign banks to provide trade financing services in Myanmar, traders are anticipating much better business in the months ahead. Last December, the CBM permitted 13 foreign banks to apply for approval to offer trade financing services in the country. Since then, […]

Free from sanctions, state-owned MFTB upgrades services

One of three state-owned financial institutions recently taken off the US sanctions list says it has made a concerted effort to upgrade its services since the current government took power in April, under instruction from the Ministry of Planning and Finance. Myanma Foreign Trade Bank, established in 1976, held a monopoly on the foreign exchange […]