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Philippines cancels Myanmar rice consignment amid local protests

A rice export agreement between Myanmar and the Philippines has fallen through after the latter came under pressure from local farmers, according to Myanmar Rice Traders Association (MRTA).The Philippines had agreed to two consignments of 75,000 tonnes of rice produced in Myanmar earlier this year. “We won the tender about two months ago. However, the […]

Ayala and Yoma team up to close Myanmar’s infrastructure gap

Conglomerates’ power and water plans promise to help offset limited public funds A girl collects drinking water outside Yangon: Myanmar’s economic development hinges on the construction of more modern infrastructure. © Reuters YANGON — If there is one thing Myanmar needs, it is infrastructure. Now, Yoma Group, one of the country’s biggest conglomerates, is looking […]

Myanmar’s Path to Trade War Gains Blocked by $120 Billion Hole

Myanmar faces major infrastructure obstacles as it tries to attract manufacturers seeking alternative locations to China, according a leader of its business community. Aung San Suu Kyi’s government should prioritize reliable electricity and shorter transport times to woo factories as the U.S.-China trade war shifts global supply chains, said Zaw Min Win, president of the […]

As remittance market reaches saturation, mobile money keeps growing

If the mobile money market were a football match, then the second half has just begun. As the undisputed market leader, Wave Money is already a few goals ahead. It reports having almost 50,000 agents and more than 11 million customers, who remitted US$2.8 billion between January and September of this year. By the end […]

Singapore-listed Yoma in tie-up with Ayala unit for renewable energy projects in Myanmar

SINGAPORE – Myanmar-focused Yoma Strategic Holdings said on Monday it will form a strategic partnership with AC Energy, the energy platform of Philippine conglomerate Ayala Corporation. The two companies are looking to establish a 50:50 joint venture (JV) to scale up Yoma Micro Power (S) Pte Ltd (YMP) and to explore developing around 200 megawatts […]

Singtel Dash e-payment system opens to Myanmar users

Myanmar nationals in the Republic will be able to send money home using mobile wallet Singtel Dash from March, under a new grant agreement signed on Tuesday (Jan 8). Singtel will work with banks, mobile wallets and cash pick-up services in Myanmar to set up safe and affordable ways for recipients to withdraw their money, […]

Vietnamese ride-hailing FastGo launched in Myanmar

FastGo Vietnam on December 28 launched its service in Myanmar, becoming the first Vietnamese firm in the ride-hailing sector to expand its operations to foreign markets. FastGo plans to introduce its services in big cities in Myanmar in 2019, with 2 million users and 100,000 drivers. In addition, it would continue to invest and call […]

Deloitte Southeast Asia Announces New Leadership for Myanmar and Singapore

Deloitte Southeast Asia has announced that Aye Cho and Cheung Pui Yuen have been appointed as Country Managing Partners for the Myanmar and Singapore practices respectively. They have taken on their new roles starting on 1 January 2019. Aye Cho has succeeded Soe Win who retired from Deloitte Myanmar as its Country Managing Partner earlier […]

More Singapore firms planning to invest in Myanmar in next two years

Singapore companies have big plans to expand in ASEAN over the next two years and Myanmar, with its growth potential and overall investment climate, is on the cards for many, according to a recent survey by the Singapore Business Federation (SBF). The survey, conducted from December 2017 to March 2018, collected views from 1036 Singapore […]

Mandalay’s challenging road to becoming a smart city

At the 32nd ASEAN Summit in Singapore in April, Singaporean Prime Minister Lee Hsien Loong called for an ASEAN Smart Cities Network to assist smart and sustainable development in 26 cities in ASEAN. Earlier this month, a list of the 10 most promising cities among the 26 was highlighted by Cristina Lago, online editor of […]