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Myanmar strategic annual revenue jumps after exera buy but loss widens

Myanmar Strategic Holdings Ltd on Tuesday said its revenue multiplied in its most recently ended financial year, but loss widened amid higher costs. The guarding, protective, transportation, and training services provider said its loss widened in the year to the end of March to USD2.6 million from USD2.1 million reported a year prior, due to […]

Myanmar’s $400m stock market to open to foreigners

Myanmar will allow direct foreign ownership of shares at the Yangon Stock Exchange (YSX), a move designed to throw a lifeline to the country’s only bourse. In a notice on Friday, the regulator, the Securities and Exchange Commission of Myanmar, said foreign individuals and locally-registered entities would be allowed to invest in listed shares of […]

A New Harbinger of Good Governance – Myanmar’s Institute of Directors

This week marks the launch of an important market institution – the Myanmar Institute of Directors (MIoD), the first independent, private sector-led organization promoting best corporate governance standards and practices in the country. This is a significant step in Myanmar’s ongoing market reforms and sends a strong signal to the global business community the country’s […]

Markets in Yangon to be upgraded says Chief Minister

At the inauguration of Danyingone wholesale market on Tuesday, Yangon Chief Minister Phyo Min Thein said that plans were underway to upgrade 170 markets in Yangon. “When we take over administration, there were 174 markets in Yangon. Our new government decided to do upgrading works of these markets. Most of the venders are selling things […]

Will Myanmar’s government cancel Woodside Petroleum Limited’s contracts?

Woodside Petroleum Limited’s (ASX: WPL) dealings with the brutal Myanmar government appear to be getting murkier.The energy company has been touting the prospective lucrative returns it hopes to gain from its investment in Myanmar. “Woodside is one of the largest offshore petroleum acreage holders in Myanmar,” according to the company’s website “Collectively, our nine permits […]

PPB disposes of Myanmar packaging business for US$2.4m

KUALA LUMPUR (Sept 20): PPB Group Bhd is disposing of its entire equity interest in Tefel Packaging Industries Co Ltd in Myanmar for US$2.4 million (RM10.06 million). PPB’s 79.9%-owned indirect subsidiary Tego Sdn Bhd inked an agreement to transfer its entire 100% stake in Tefel Packaging Industries Co Ltd — a polypropylene bags manufacturer — […]

More firms to be listed on Yangon stock exchange

PEOPLE’S interest in trading on the Yangon stock exchange does not seem to be growing 18 months after its launch but more companies are nevertheless keen to be listed, say officials. Htay Chun, a member of Securities and Exchange Commission of Myanmar, says that at least two more companies hope to complete the necessary procedures […]

Unilever sees growth in bottom and top of Asian economic pyramid

TOKYO/YANGON/MUMBAI — At a small shop tucked into a residential neighborhood of Yangon, one peculiar set of items has emerged as a hit seller among the snacks and household staples on offer: single-use pouches of Unilever shampoo, which dangle from the store’s walls and ceiling. Many in Myanmar still consider bottled shampoo of the sort […]

Top End Minerals closing in on zinc acquisition

Top End Minerals (ASX:TND) has successfully completed its technical due diligence on the Lashio zinc refinery in Myanmar. In late November 2016, Top End acquired the option to purchase a 60% interest in the Longh Keng zinc mine and Lashio zinc refinery in Myanmar for US$43 million. Corporate due diligence and financial due diligence is […]

FMI swaps share certificates for digital accounts

First Myanmar Investment (FMI), owned by businessperson Serge Pun, has asked its shareholders to open digital accounts, ahead of the company’s planned listing on the new Yangon Stock Exchange later this year, officials said. It is working with two securities companies on its initial public offering – KBZ Stirling Coleman Securities (KBZSC) and Myanmar Securities […]