According to StanChart, Myanmar’s economy is expected to grow by 6.4 per cent in 2013
SINGAPORE: Myanmar’s recent political and economic reforms have made it a popular destination for Singapore businesses looking to venture overseas. More…
Mitsuibishi Corporation, Marubeni Corporation and Sumitomo Corporation will take a 49 percent share in Thilawa SEZ
Myanmar is planning to set up seven more local industrial zones in addition to the existing 18 of its kind in the country, official media reported Wednesday.
The seven planned new industrial zones will be Tatkon in Nay Phi Taw, Yadanarbon in Mandalay, Hpa-an, Myawaddy and Phayathonzu in Kayin state, Ponnagyun in Rakhine state and Namoum in Shan state, the Ministry of Industry was quoted by the New Light of Myanmar as saying. More…
Zaw Zaw – One of the largest business tycoons in Myanmar and managing director of Max Myanmar
(Reuters) – As Myanmar implements reforms and foreign investors jet in, most find precious few ways to make money. There is no stock market. A new foreign investment law is delayed. And the biggest local companies are entangled in U.S. and European sanctions. More…
Equal ownership creates “gridlock”
As we were charging down the road to Nay Pyi Taw, Myanmar’s administrative capital in our imported luxury coach, wrapped curiously with Manchester United’s logo and team colors (odd…as foot ball is not a major sport in Myanmar), our very engaging host got on the crackly microphone to tell us a bit about Myanmar. More…
Textile factory outside of Phnom Penh, Cambodia
Cambodia had issued operating licenses to 51 new garment and footwear factories with the total investment of $327 million in the first half of this year, according to a report of the Council for the Development of Cambodia on Monday. More…
Reposted from Reuters
(Reuters) – Singapore bed linen maker Aussino Group has appointed a financial adviser to facilitate a proposed S$60 million ($47.38 million) reverse takeover by a Myanmar group linked to a businessman on a U.S. blacklist, according to three sources familiar with the firm.
Prime Partners, a boutique advisory and asset management firm, will help Aussino get regulatory approval needed for a proposed injection of Myanmar assets into the Singapore firm, said the sources, who declined to be identified because the information has not been made public. More…
Myanmar’s vice president Tin Aung Myint Oo (C) has resigned as of July 1
Hong Kong (CNN) — The resignation of Myanmar’s first vice president could pave the way for the introduction of more reformers into President Thein Sein’s government, experts say.
The departure of Tin Aung Myint Oo was announced by the government on Wednesday. An official statement said he was in Singapore receiving treatment for a medical condition. More…
Reposted from the International Venture Capital and Private Equity News
Via Reuters
Singapore-listed oil and gas firm Interra Resources Ltd aims to aggressively develop its two onshore oil fields in Myanmar and is eyeing new oil and gas blocks slated to come up for tender this year.
Starting out in Myanmar in 1996, the company is among the few listed Myanmar-focussed plays and its shares have quadrupled so far this year, valuing it at S$112 million ($87 million).
In the year to December, nearly two thirds of Interra’s total revenue of $24.8 million came from Myanmar, seen as one of Asia’s last frontier markets. Indonesia accounted for the remaining revenue. More…
Dr Kan Zaw is interviewed by journalists at the New Myanmar Investment summit last week.
HUNDREDS of delegates attended an investment conference at Yangon’s Parkroyal Hotel last week but many said they left with key questions unanswered.
Around 300 delegates from more than 250 companies from the United States, Canada, the United Kingdom, Japan, India, China, Vietnam, Singapore, Thailand, Cambodia, Malaysia, Sri Lanka, Indonesia, and Bangladesh attended the 2012 New Myanmar Investment Summit on June 20 and 21. More…
Reposted from Focus Taiwan News Channel
By Tien Yu-pin and Frances Huang
Taipei, June 14 (CNA) Cathay United Bank, the banking arm of Cathay Financial Holding Co., has agreed to acquire a 70 percent stake in a Cambodia bank, the financial holding company said Thursday.
With the acquisition, Cathay United Bank will become the largest shareholder in Singapore Banking Corp. Ltd. (SBC Bank), while the original Singaporean investors will retain the remaining 30 percent stake, Cathay Financial said. More…
