fbpx

Memories Group makes first acquisition in Myeik as tourist interest rises

Mr Serge Pun, executive chairman of Singapore-listed Memories Group, has bought luxury yachting business Burma Boating in Myeik, Tanintharyi Region, for K1.3 billion from Tint Tint Travel and Tours Company and Freepier. It is the first acquisition for Memories Group since the company listed on the Singapore Exchange in January and marks the first step […]

United International Group to Open Five Amata Hotels in 2018-19

United International Group, owner and operator of Amata Hotels in Myanmar, will open five more hotels in the country, U Win Aung, group CEO of United International Group told The Myanmar Times Monday. The company will open two new Amata hotels at Inle Lake and Pindaya in Shan State, two in the Myeik archipelago at Tanintharyi Region […]

Myanmar Companies Ramping up Tourism Industry

YANGON — Leading companies in Myanmar are building up the tourism industry in a bid to capitalize on the increasing number of foreign visitors to the Southeast Asian country since democratic reforms took place. First Myanmar Investment signed an agreement in October with its Singapore-listed affiliate Yoma Strategic Holdings and other companies, including SHC Capital Asia, […]

IFC Clarifies Bagan Loan to in-Limbo Hotel, While Govt Says Status Remains Up in The Air

The International Finance Corporation’s funding of a local hotel developer whose Bagan tourism project remains in limbo is dependent on government approval, the IFC clarified yesterday. On October 22 the IFC announced a loan of US13.5 million to United International Group, which owns Amata Hotel Group, to expand on its hotel developments at Bagan and Inle lake. […]