ThaiBev acquires Myanmar distilleries as TPG exits

Thai Beverage Public Co has acquired a combined 75% stake in two Myanmar distilleries in a deal worth $742 million, hoping to tap into growth in the country’s nascent spirits market. ThaiBev acquired the 75% stake in Myanmar Supply Chain and Services Go (MSCS) and Myanmar Distillery Co (MDC) from four third-party vendors, including Texas-based […]

KB Kookmin Card eyes Myanmar market

KB Kookmin Card Co. said Thursday it is pushing to tap into Myanmar’s credit card market after getting the nod to set up an office in the Southeast Asian country. KB Kookmin Card, a unit of South Korea’s banking giant KB Financial Group Inc., said it won approval from Myanmar’s central bank the previous day […]

Ajinomoto returns to Myanmar with ingredient from Thailand

YANGON: Japanese seasoning and food maker Ajinomoto Co has restarted sales of its namesake seasoning in Myanmar through a local subsidiary, aiming to cater to growing demand after suspending business in the country in 2000. The completion ceremony for a packaging plant of Myanmar Ajinomoto Foods Co was held on Tuesday in the Thilawa Special […]

China in Talks to Sell Electricity to Myanmar Amid Warming Ties

YANGON (Reuters) – Energy-hungry Myanmar is in initial talks to buy electricity from China, according to officials and documents reviewed by Reuters, in the latest sign of warming ties with Beijing under leader Aung San Suu Kyi. Since taking office in April last year, Suu Kyi has sought to repair relations that were strained when […]

Lotte Hotel to open chain in Myanmar next month

Lotte Hotel & Resorts, the hotel arm of South Korean retail giant Lotte Group, said Tuesday it will open its eighth foreign hotel chain in Myanmar next month, as it attempts to tap deeper into overseas market. Lotte Hotel & Resorts said the new hotel in Yangon, the former capital city of the Southeast Asian […]

New Toyota Sales Pioneer Dives Into Myanmar

TOKYO — NEZAS Holdings has become the first Toyota Motor-related sales company in Japan to make a foray into Myanmar, with plans to market the brand’s new cars in the country’s biggest city of Yangon. NEZAS, which is based in Utsunomiya just north of Tokyo, in May established a joint venture with Myanmar logistics company Hinthar Group Holdings. […]

Japan’s Daiwa to Buy Into Myanmar Internet Provider

TOKYO — Daiwa Securities Group will invest nearly 700 million yen ($6.26 million) in Myanmar internet service provider Frontiir with the hope of cashing in on abundant growth potential. Daiwa PI Partners will purchase newly issued shares, obtaining a stake of nearly 10%. Founded in 2013, the private-sector ISP serves mainly Yangon and Mandalay. It seeks to […]

Oil and Gas Sector Needs Efficient Pipelines

The Myanmar government urged EU companies to invest in the country’s energy sector as industry insiders noted that gas exploration is one of the biggest opportunities in the power-hungry Southeast Asian country. Xavier Preel, general manager of Total E&P Myanmar, said energy and infrastructure are the two main priorities of the current government. “Our counterpart […]

Myanmar Readies Reforms to Liberalize Insurance Market

NAYPYITAW — Myanmar intends to release within three months a blueprint for insurance market reforms that include allowing foreign insurers to underwrite and sell policies, the head of state-run Myanma Insurance said here Wednesday. Managing Director Sandar Oo outlined the reforms from the Ministry of Planning and Finance, which oversees Myanma Insurance, in a presentation at Myanmar Investment […]

Scotland’s Energy Expertise, Whisky and Tech Embrace Myanmar Amid Brexit

Scotland and Myanmar boast historic links which dates back to 1886, when a Scottish firm arrived in then-Burma to drill oil. That connection is still relevant to this day, as Scotland’s expertise on oil and gas has a lot to offer for the Southeast Asian country. But the relationship has transformed – Scotland’s traditional products, […]