Myanmar Companies Act sent to parliament

The Myanmar Companies Act – a pivotal piece of legislation that will reform how companies are regulated and allow foreign investors onto the Yangon Stock Exchange – was submitted to the Pyithu Hluttaw at the start this month, according to Directorate of Investment and Company Administration Director General U Aung Naing Oo. The new act […]

Myanmar men may face jail for not marrying pregnant women

Myanmar’s government is drafting a law that could see men jailed for up to seven years for getting a woman pregnant but not marrying her, a senior official said on Wednesday. The provision is part of tough new legislation designed to strengthen women’s rights as the country opens up after half a century of military […]

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 […]

Rumors of Foreign Investors Soon Accessing YSX Quashed

RANGOON — Foreign investors will be unable to buy shares on the Yangon Stock Exchange (YSX) as long as the Myanmar Companies Act is not amended, a senior YSX official said, dispelling rumors that shares trading would open up to foreigners this week. Earlier this week, misleading news apparently spread after Maung Maung Win, chair […]

Singapore brand flying high in Yangon

Yangon may be a three-hour flight and nearly 2,000 km away from Singapore – but it’s difficult not to feel the Lion City’s growing presence in Myanmar’s largest city and its thriving commercial centre. When I landed at the city’s international airport on Monday and made my way to the immigration counters, I spotted a […]

Sky Net Selects Gilat’s Network for Cellular Backhaul in Myanmar

Sky Net and Gilat win MNO bid for quick deployment of cellular networks under some of the most challenging equatorial terrain and climatic conditions Israel, June 02, 2016 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ:GILT) (TASE:GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that Sky Net, a leading Myanmar […]

Myanmar Lawmakers Name Htin Kyaw President, Affirming Civilian Rule

NAYPYIDAW, Myanmar — Myanmar’s Parliament elected a confidant of Daw Aung San Suu Kyi as president on Tuesday, ending decades of leadership by the military and its allies. U Htin Kyaw, 69, won with more than half the votes. He was considered almost certain to take the presidency after his nomination last week by Ms. […]

New MPs to inherit host of issues in Myanmar

Rookie MP Tin Ko Ko Oo spends his free time poring over training manuals, learning English and studying a much-thumbed Burmese-English copy of Myanmar’s Constitution. “It’s like going back to university, but not as easy,” he said in his modest office allotted to MPs in a leafy compound in Naypyitaw. “Now we have responsibilities; we […]

Real estate income tax to rise five-fold from April 1

Imposition of income taxes on real estate is set to rise five-fold starting from April 2016, according to the Tachileik Internal Revenue Department. “The Imposition of land tax on real estate and buildings is going to increase about five times over. It has already been discussed in parliament. As such, whether it’s the buying or […]

Myanmar Lower House requires journalist registration

Myanmar’s Lower House has demanded journalists who want to report on the Parliament beginning its term on February 1 must register at the press council. In a letter dated January 7 to the Myanmar Press Council, it said this is applied with all local and foreign journalists. The Myanmar Press Council (MPC) is asked to […]