Philippines Firms Eye ASEAN’s last Frontiers

PHILIPPINE conglomerates are watching out for opportunities in less developed but fast-growing Association of Southeast Asian Nations (ASEAN) members, drawn by the “unique needs” of these markets. Gross domestic product growth projections of the Asian Development Bank, International Monetary Fund, the World Bank and the ASEAN+3 Macroeconomic Research Office for Cambodia, Laos and Myanmar have […]

Yoma Shares Surge on $238m Capital Tie-Up with Ayala

The move is designed to strengthen Yoma’s core businesses in Myanmar’s rapidly growing economy. According to a statement released on Thursday morning, Ayala will invest up to $237.5 million in Singapore-listed Yoma as well as Yangon-listed First Myanmar Investment, taking a 20% stake in each company, both of which are controlled by Myanmar tycoon Serge […]

Pharmaceutical Companies From Indonesia, Myanmar Establish Joint Venture

Jakarta (ANTARA News) – Indonesian pharmaceutical company PT. Phapros Tbk, a subsidiary of PT Rajawali Nusantara Indonesia (RNI), and Myanmar`s pharmaceutical firm Medi Myanmar Group have established a joint venture to develop the business of pharmaceuticals and medical devices. According to a statement from PT. Phapros Tbk received by ANTARA here on Friday, the cooperation […]

Bumpy Ride for Tourism Seen in 2018

The tourism industry this year went beyond expectations despite the sudden outbreak of violence in the northern Rakhine State that gave the country a negative image, but the sector is expected to face a more challenging environment next year. Tourist arrivals in the first 11 months this year was 20 per cent higher compared with the […]

Arroyo Toasts Leaders of Cambodia, Myanmar at Welcome Dinner in Clark

CLARK FREEPORT ZONE, Pampanga — Former President and now Pampanga Rep. Gloria Macapagal-Arroyo hosted on Saturday a welcome dinner for Cambodian Prime Minister Hun Sen and Myanmar State Counsellor Aung San Suu Kyi here just before the three-day Association of Southeast Asian Nations (Asean) Summit. The leaders landed at the Clark International Airport early in […]

Yangon waterworks get patch-up from Mitsubishi, Manila Water

Japanese trading house Mitsubishi Corp. and Philippine utility Manila Water have reduced lost water revenue by about three-fourths here, according to a report they released Friday, through upgrading plumbing and meterage in a trial waste-reduction program. After signing an agreement in 2014 with the Yangon City Development Committee, the companies launched a trial project to […]

What Did the Philippines’ Duterte Achieve During His Myanmar Trip?

From March 19-21, Philippine President Rodrigo Duterte was on a two-day official visit to Myanmar. Apart from affirming the importance of the bilateral relationship, the trip was part of his swing through Southeast Asia during Manila’s chairmanship of the Association of Southeast Asian Nations (ASEAN) (See: “Duterte’s ASEAN Tour Continues With Singapore, Cambodia Visits”). On […]

AboitizPower eyeing hydropower project in Myanmar

(AboitizPower) is looking at exploring and developing a potential hydropower project in Myanmar, its president said on Wednesday. “We are still looking at hydro potential in Indonesia and we’re looking at Myanmar, too,” Antonio Moraza said, adding “our people” recently visited Myanmar. “We’re looking at starting at permits,” he said when asked how advanced the […]

Kirin Jumps Headlong Into Myanmar Beer Market

TOKYO — With beer consumption shrinking in China and other major markets, Southeast Asia has become a key growth target for the beer industry. In 2015, Japan’s Kirin Holdings seized the chance to acquire Myanmar Brewery, which holds an 80% share of the country’s market. Hajime Kobayashi, deputy director of the brewer’s corporate strategy, recently told The Nikkei about the […]

First South Korean Lender Starts Myanmar Ops

Shinhan Bank, South Korea’s fourth-largest bank by assets, has set up a branch in Myanmar as part of its diversification strategy. The bank said it won final approval to start operations in Yangon from the Central Bank of Myanmar on September 15. This marks the first time for a South Korean lender to set up […]