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Thailand’s Siam Makro has opened its first Makro store in Myanmar bringing in a new retail experience to Yangon

“Makro was big, huge. We had to book one day in advance to actually go there.” With pre-bookings and queues, Makro opened in Myanmar just before Thingyan. Primarily a wholesaler targeting Food retailers, Hotels, Restaurants and Catering Service companies, Makro became immediately popular among Yangon’s residents longing for an alternative. Owned by Siam Makro from […]

Thailand’s Kasikornbank to expand digital presence in Myanmar

Thailand’s Kasikornbank is planning to expand into Myanmar’s retail market with a focus on digital services. The Central Bank of Myanmar on April 9 approved the Thai bank’s acquisition of a 35 percent stake in Ayeyarwaddy Farmers Development Bank (A Bank), making it the first foreign commercial bank to take a stake in a local […]

Govt to accept more returning Myanmar citizens through border checkpoints after April 15

There is high potential for COVID-19 to spread via the mass returns of Myanmar citizens at the border checkpoints. Myanmar will start accepting returning citizens after April 15, according to an announcement by the Ministry of Foreign Affairs today (March 30). The government is still preparing additional quarantine facilities and procedures to handle high-volume arrivals, […]

Thailand’s Kasikornbank gets approval for $40 mln stake in Myanmar lender

BANGKOK, April 11 (Reuters) – Thailand’s Kasikornbank said on Saturday it plans to invest up to $40 million in a 35% stake in Myanmar’s Ayeyarwaddy Farmers Development Bank after receiving approval from Myanmar’s central bank. Kasikornbank, the country’s No. 2 bank by market capitalisation, said in a statement the investment will be done through its […]

Thailand to Shut One of Two Border Crossings With Myanmar Amid COVID-19 Concerns

The governor of Thailand’s Tak province has decided to close one of the two Thailand-Myanmar border checkpoints at Mae Sot, across from Myawaddy, Karen State, from Saturday, March 21 until further notice, in an effort to curb the spread of the coronavirus. U Thant Zin Aung, a state parliamentarian from Myawaddy Township, told The Irrawaddy, […]

Trading resumes in Muse, but demand from Thailand yet to pick up

Trade in Muse, the Myanmar town bordering China, has picked up again after grinding to a halt in the wake of the Covid-19 outbreak, U Min Thein, vice chair of Muse rice merchants association told The Myanmar Times. He said trade activities are now running at 80 percent of their usual capacity, and should return […]

SCB waits on new Myanmar licence

Siam Commercial Bank plans to open its first branch in Myanmar this year if the Central Bank of Myanmar (CBM) grants a bank subsidiary licence, says a SCB senior official. If approved, SCB will upgrade the existing representative office to a branch, said first executive vice-president Kamalkant Agarwal. The bank needs time to develop infrastructure […]

Authorities perform health screenings in Lashio airport

Health authorities are carrying out health screenings in Lashio airport in northern Shan State since February 1 and most of the travellers are wearing facemasks, sources said. The authorities said they haven’t found the 2019 novel coronavirus suspected patients yet in Lashio. Similarly, vinyl about coronavirus protection are pasted in maternal and child health clinic, […]

Thailand’s KBank to acquire 35% stake in Myanmar’s A Bank

Thailand’s Kasikorn Bank (KBank) is preparing to invest in Ayeyarwaddy Farmers Development Bank (A Bank) in Myanmar, according to government data. The Myanmar Times understands that the Thai bank is looking to buy a 35 percent stake in the A Bank and has sought approval from the Central Bank of Myanmar (CBM) to do so. […]

Myanmar seeks migrant-worker protections in Malaysia and Thailand

The government is negotiating with Malaysia and Thailand to ensure that hundreds of thousands of Myanmar nationals working in their countries will have access to social welfare benefits, a senior minister said. U Thein Swe, minister of Labour, Immigration and Population, said the Myanmar Social Security Board is leading the negotiations with their counterparts in […]