MGS Group deepens push into property and hospitality

MYANMAR Golden Star Group of Companies (MGS Group), which is engaged in beverages, banking and microfinance, has expanded its business portfolio by prioritising hospitality and real estate. Thein Tun, founder of MGS Group and chairman of Tun Commercial Bank, said in a recent interview that real estate is the company’s most profitable line of business, […]

Cronies Disappointed As US Sanctions Extended

RANGOON — In wake of the extension of most of the US sanctions on Burma on Tuesday, several cronies have remained on the Specially Designated Nationals (SDN) list, despite the expectation that they would be removed. Sanctioned businessman Khin Shwe, chairman of the Zay Kabar Group of companies, told The Irrawaddy, “Some people have suggested […]

Business leaders see brighter future in NLD win

Industry insiders say they expect the NLD’s victory will lead to the easing of remaining sanctions, along with a spike in foreign investment and economic aid. RANGOON — Business leaders have welcomed the National League for Democracy’s (NLD) thumping victory in the Sunday election, saying the opposition is well poised to drive economic growth when […]