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Buyers in Singapore snap up US$6 million worth of Myanmar property

Myanmar citizens based in Singapore snapped up US$6 million worth of apartments and condominium units in Yangon at a two-day real estate fair held in the city state earlier this month. Hosted by iMyanmarHouse.com, Myanmar’s largest online property portal, the expo has been held at least once a year in Singapore since 2015 and targets […]

Upscale housing project takes shape near Mandalay

A housing project to be built in Yay Tagon Taung in Mandalay Region’s Patheingyi township is expected to create tens of thousands of jobs, said the company behind the project. The project site is on 202 hectares of land on a golf course owned by the Mandalay City Development Committee about six kilometres east of […]

FMI changes name, revises constitution

Yangon Stock Exchange-listed First Myanmar Investment (FMI) Company announced on Saturday that it will be adopting a new name and constitution in accordance with the Myanmar Companies Law. At the first special general meeting held in Yangon’s National Theatre, the firm said that a new constitution will replace current memorandum and articles of association, as […]

Five business sectors that are looking interesting in 2019

Businesses did not have a positive outlook on the Myanmar business sector last year with falling confidence and firms pulling out of Myanmar. However, with the arrival of a new year, things seem to be looking more optimistic for some sectors. Our reporters have interviewed insiders and experts from five business sectors on their views […]

Laxer Rules of Foreign Banks to Spur Trade, Central Bank Says

The Central Bank of Myanmar said its decision last week to let foreign banks operating in the country lend and provide other services to domestic companies will help exporters limited by local lenders finance their trade with the rest of the world. “We expect that they [foreign banks] will mainly provide foreign currency to the […]

Myanmar still weak in enforcing contracts, protecting minority investors

Myanmar has done undertaken two reforms to improve access to power supply and the ease of starting a local business, according to the latest report from the World Bank. However, pace of reform on most regulations affecting the private sector remain stagnant. In the newly-released World Bank’s 2019 Doing Business rankings, Myanmar ranks 171th out […]

Insurance industry progressing at slow pace, foreign competition needed: AMI

It has been five years since the government first allowed private insurance businesses to offer their services in Myanmar in 2013. But further liberalisation is needed and the authorities have been saying they are close to allowing foreign insurance providers to operate domestically. In August, U Zaw Naing, secretary of the Insurance Business Regulatory Board […]

How the son of a humble watch repairer became the owner of a multi-million dollar realty tech startup

His startup iMyanmarHouse, with over 550 developers, 2,200 agents and 300K listings, recently hit US$320M in total transaction value Nay Min Thu would never have become what he is now, had he not attended, by chance, a motivation class in Singapore back in 2009. And thanks to his grit, determination and perseverance, Thu is now […]

Improvements still needed to boost property, construction sectors

Stakeholders in the property and construction sector say there is still a need for a body or organisation to oversee, implement and enforce the regulations under Condominium Law 2016 and Condominium Rules 2017. The lack makes the legislation less effective presently those in the business say. As there are very few condo projects in Yangon […]

Army confiscates land plots including Mya Yeik Nyo Hotel from Zay Kabar Co.

Army confiscated land plots included in Yangon New World property project in Yangon region from Zay Kabar Company as the company failed to follow the agreements stated in the Memorandum of Agreement (MoA) signed between Quartermaster-General Office and the company, said Moe Min Win, Secretary of Office of Garrison Town Development Committee (Yangon) on October […]