Yoma Strategic, Pernod Ricard announce JV, target leadership in Myanmar’s whisky industry

Yoma Strategic Holdings Ltd. (“Yoma Strategic”) and Pernod Ricard have announced that they intend to form a joint venture company which will focus on the production and distribution of whisky in Myanmar. Pernod Ricard will install an internationally experienced management team and become the largest shareholder in the new company. The remaining equity will be […]

Grab Officially Takes Control Of Uber’s Southeast Asia Operations

Grab announced today that it will acquire all of Uber’s Southeast Asia assets, confirming rumors that have been floating around the highly competitive ride-hailing market. Grab gains control over all Uber’s assets and operations in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, including UberEats, which the company plans to leverage to expand […]

Draft Companies Law designed to remove obstacles for foreign investment

A new Myanmar Companies Law currently being drafted by legislators will remove cumbersome restrictions and make foreign investment easier, said Dr Myat Nyana Soe, the secretary of Amyotha Hluttaw Bill Committee. “The draft law was approved by Amyotha Hluttaw and the amendments made by Aymotha Hluttaw and Bill Committee are already submitted to Pyithu Hluttaw. […]

MAPCO’s power plant and rice mills open in Ayeyawady

Mapco Golden Lace’s project in Ayeyawady. A 2.2-megawatt power plant and two rice mills opened in Kyaiklatt Township, Ayeyawady Region, on May 15. The Myanmar Agribusiness Public Corporation (Mapco) and six shareholders under the Golden Lace Company jointly operate the firms with a 55:45 ownership ratio. The Mapco Golden Lace has gained licences from the […]

Chinese-backed condominium project launches in Yangon

Chinese group Toener Investment has launched sales of a new five-tower condominium project in Yangon’s Yankin township known as Kanbae Towers. Units in the development, which will be built on 2.2 acres of land on Kanbae Road, went on sale in late March. Construction began in the middle of last year and the project is […]

Plans for massive ‘high-end’ luxury development in Yangon unveiled

Multi-national developer Marga Landmark and its Myanmar-based partner Thu Kha Yadanar unveiled plans for a 22-acre (8.9 hectares) multi-use complex located at U Htaung Bo Circle between Shwedagon Pagoda and the Yangon Zoo at a media briefing on June 23. The majority shareholder Marga Landmark owns 70 percent of shares and is set to invest […]