Oway Group receives private equity to expand in competitive taxi market

Oway Group last week received $7 million in fresh funds from Mekong-focused private equity firm Belt Road Capital Management (BRCM), which is headquartered in Cambodia. The online travel service provider, which is founded by local entrepreneur Nay Aung, operates the mobile taxi-hailing service Oway Ride as well as oway.com.mm, Myanmar’s largest online travel portal. The […]

Indochina Is Southeast Asia’s Final Frontier

Singapore, Indonesia, and Thailand are some of the forerunners in general and business aviation (GA/BA) in Southeast Asia. However, the Indochina region is emerging as a contender for growth with countries such as Vietnam, Myanmar, and Cambodia experiencing GDP growth and enjoying an expanding tourism industry. Myanmar’s economic liberalization has seen a surge in foreign […]

Burmese Student at Colorado University

Chu May Paing isn’t sure she can call herself an American or a Burmese. Paing, a first-year graduate student at CU, has a visa that tells her she’s an “alien” on U.S. soil. Her own mother in Myanmar told her she is “no longer Burmese.” Paing came to the U.S. after winning a green card […]

Are tropical islands in Myanmar Asia’s last untouched paradise?

Lack of infrastructure has protected the Myeik Archipelago in the Andaman Sea from the ravages of tourism, but for how much longer? Picture 800 or so islands surrounded by beaches of white sand and backed by lush green forest, rising out of a translucent, turquoise sea on which fishing boats and a handful of yachts […]

PTTEP confirms its commitment to Myanmar oil and gas

PTTEP reaffirmed its commitment to the development and growth of Myanmar’s oil and gas industry at the Offshore Technology Conference Asia 2018 this week. Despite the exploration and development challenges in Myanmar’s oil and gas sector, opportunities for successful discovery and production can be captured with the effective use of innovation and people, said Mr. […]

China’s high costs push clothing maker Adastria to Southeast Asia

TOKYO — With fewer young Chinese available to work in factories and environmental regulations in the country becoming tougher, some manufacturers, like Japanese casual clothing retailer Adastria, are shifting their focus to Southeast Asia, where production costs are significantly lower. Adastria, which manages stores for brands such as Global Work and Lowrys Farm located mainly […]

Concerns from multiple parties emerge following Grab, Uber merger

Concerns are mounting from multiple parties after Grab, the taxi ride hailing company, officially announced the acquisition of rival Uber’s Southeast Asia operations on Monday. ‘‘We have reached an agreement to combine our business in Southeast Asia with Grab. In exchange, Uber will take up a 27.5 percent stake in the combined company. After investing […]

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 […]

Government support needed to develop digital payment habits in Myanmar

Government support is badly needed for the local digital payments sector to develop further, U Zaw Lin Htut, CEO of Myanmar Payment Union (MPU) told The Myanmar Times in a recent interview. Despite the MPU’s attempts to reduce cash dependency since 2012, local payments are still mainly settled via paper money. Even for payments for […]

Htoo Group in talk with Korea’s NH Financial to tap insurance market

NongHyup Financial (NH), a holding company of Korea’s national agricultural cooperative, will team with its insurance units to enter the insurance market in China and Southeast Asia, NongHyup said Sunday. But what is the reason for this sudden desire to sally forth and explore uncharted or under-explored territory? And why has it taken the company […]