Tax to be levied on stock exchange investments

This will be the case initially, even though other countries such as Vietnam are untying their investors from tax, said Dr Maung Maung Thein, chair of the Securities and Exchange Commission Myanmar (SECM) and deputy finance minister, on August 29. However, he provided no information about the value of tax that investors will be charged, […]

Customers irate at futures trading firm

A company which goes by two names – Global Growth and Golden Global – has allegedly cheated US$1.48 million (K1.65 billion) from customers, according to local newspaper 7day Daily. The company reportedly tells clients that it is a branch of Standard Bullion, which is a member of the Chinese Gold and Silver Exchange Society. The […]

Experts cautious on stock market appeal

The planned stock market will likely not be a success straight out of the starting gate, though could eventually emerge as a worthwhile destination for investment, according to experts. While the Yangon Stock Exchange is slated to open in October 2015, it will need to prove its performance before it can capture trust – and […]

Firms face financial accuracy issues ahead of bourse launch

Myanmar companies might not be ready for the scheduled launch of the country’s stock exchange in 2015, officials and experts are warning. The lack of transparency and accounting efficiency on the part of firms wishing to develop initial public offerings could contribute to the slowdown of the much-anticipated launch, they say. Last month, officials developing […]

Myanmar’s stock exchange facing delays

Myanmar is running behind schedule for starting a stock exchange by 2015 after delays in getting the legal framework in place, said an executive at Japan Exchange Group Inc., which is assisting on the project. “We’re pressed for time,” Koichiro Miyahara, senior executive officer at Japan Exchange, said in an interview in Tokyo on Aug. […]

Myanmar growing at breakneck speed

When Singapore lawyer Chester Toh starting working in Yangon, Myanmar’s commercial centre, 18 months ago, his commute to the centre took 15 minutes; now it’s a 45-minute slog through increasingly clogged streets. Call it the price of progress, or reform to be more exact. Toh, a partner at law firm Rajah & Tann, told The […]