Myanmar’s new Companies Act can be ‘game changer’

TOKYO — Little in the way of positive news has come out of Myanmar in recent months. The situation in Rakhine State has seen de facto leader Aung San Suu Kyi come in for severe criticism from the international community as her government struggles to deal with the crisis and the realities of running the […]

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, […]

Yangon Stock Exchange looks for Belt and Road boost

The Yangon Stock Exchange, launched in December 2015, expects to enjoy indirect benefits from China’s Belt and Road Initiative as more Sino-Myanmar joint ventures are set up and demand for capital increases. “China is a major economic and trade partner with Myanmar. Myanmar’s enterprises need to grow together with their Chinese counterparts,” said Thet Htun […]

Myanmar tries to rekindle enthusiasm for tepid stock market

Tax cut unveiled in hopes of attracting new listings on YSX YANGON — Initial fanfare has given way to a sleepy quiet on Myanmar’s Yangon Stock Exchange, which has just four listed names after a year and half of trading, as a lack of seasoned investors dissuades potential listings. The YSX Expo, held at a […]

Regulatory roadmap needed for banking sector reform

Myanmar needs to establish a regulatory roadmap for the banking sector. This will give the local banks more clarity on the progress and timing of upcoming regulations, allowing them to gear up for further reform and growth. “Carrying out regulatory reform at an unmeasured pace can cause trouble,” said Azeem Azimuddin, CFO of Ayeyarwady Bank, […]

More firms to be listed on Yangon stock exchange

PEOPLE’S interest in trading on the Yangon stock exchange does not seem to be growing 18 months after its launch but more companies are nevertheless keen to be listed, say officials. Htay Chun, a member of Securities and Exchange Commission of Myanmar, says that at least two more companies hope to complete the necessary procedures […]

Myanmar Raises the Bar

The country is opening up its economy to foreign investors. To do so, it is introducing the Myanmar Companies Bill, extending credit and lifting bans to raise confidence in its economy. The latest draft of the Myanmar Companies Bill was submitted to the Amyotha Hluttaw by Deputy Minister for Planning and Finance U Maung Maung […]

National Prosperity Company under scrutiny on gold debt to gov’t

Negotiations are currently being carried out for NPC to make the payments. The company owes 5.5 tonnes of gold (over 3,400 viss) priced at a fixed rate to the government. NPC has an 8-year contract with the government to mine for gold in the resource-rich Moehti Moemi area, which spans over 6,000 acres of land. […]

Mechanism for Foreigners to Trade in YSX Under Way

A mechanism for foreign investors and organisations to take part in the Yangon Stock Exchange is under development, according to Myanmar Securities Exchange Centre (MSEC). Daily stock trading in Myanmar has declined significantly and the market is sluggish. In order to revive the trading activities, a system to include non-Myanmar investors from various sectors must […]

SECM Clamps Down on Financial Scams and Illegal Trading

THE Securities Exchange Commission of Myanmar (SECM) is clamping down on financial scams and illegal trading by unlisted companies in the country. On July 3, it appealed to the public for more information on I Smart Co, a company with operations in Mawlamine. I Smart Co is reported to be engaged in suspicious trading activities […]