Bank flags commerce ministry relationship risk ahead of YSX listing

Myanmar Citizens Bank – soon to be the first lender listed on the Yangon Stock Exchange – named its reliance on the Ministry of Commerce as a major risk to its business model in disclosure documents published last week. The ministry, which founded MCB in 1992, has reduced its holdings in the lender to around […]

Real estate market slowdown helps dent FMI annual profits

First Myanmar Investments (FMI) published its annual financial results yesterday, showing a severe drop in net profits. The great bulk of the fall was down to a group restructuring the previous year, although a “stagnant” property market also hurt the firm’s bottom line. The latest annual report was FMI’s first as a listed company, having launched its shares on […]

FMI increases capital to Yoma Bank

First Myanmar Investment (FMI) has increased its capital contribution to its subsidiary Yoma Bank by almost K9.6 billion, after accepting a loan facility from Bangkok Bank, said a company announcement yesterday. FMI, owned by businessperson Serge Pun, is the first and only company to list on the Yangon Stock Exchange and owns a 51 percent […]

FMI discloses risks ahead of Yangon Stock Exchange listing

A reliance on chair Serge Pun’s business relationships and the potential illegality of its existing share trading centre are among the risk factors First Myanmar Investment laid out in a disclosure document yesterday, ahead of the firm’s listing scheduled for later this month. FMI will be the first company to list on Myanmar’s first modern […]

Korean handsets differ in pricing

Two South Korean handset makers will be debuting models in the next few days aimed at different pricing points. Samsung will bring in its Samsung Galaxy S6 and Samsung Galaxy S6 Edge on April 10, while LG will begin distributing its LG Aka phone on April 9. Huawei is the handset maker with the largest […]

Busy signal for handset market

Rapid growth in the number of domestic mobile users is creating opportunity for mobile handset makers to expand their sales. While the local handset market has traditionally been dominated by a handful of brands, several new entrants are pushing their products in the hope of growing market sharing in a rapidly expanding business. A June […]

Two state hotels tendered, again

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. The Ministry of Hotel and Tourism has conducted a new tender for Thiri Myaing Hotel in Pyin Oo Lwin and Chaungtha New Beach Hotel. The tender was announced in state-run media on October 17. Two bids were received […]