By Juliet Shwe Gaung
Bluescope Lysaght, one of Asia’s largest steel building products manufacturers, is looking at investing $6.4 million in a manufacturing facility in Myanmar while hospitality major Hilton Group has lined up plans to set up three hotels in the frontier market.
Singapore’s main board listed Singapore Myanmar Investco (SMI) is divesting its telecommunications tower business to Hong Kong’s Shining Star International Holdings Limited for about $12.7 million.
Wave Money is working on launching its mobile financial service after getting the certificate of approval from the Central Bank of Myanmar. Meanwhile, Myanmar Shipyard Dong A Ltd and Great Sea Transport and Logistics Company are planning to make 30 ships.
Group Lease Public Company Limited (GL) has partnered with Aung Moe Kyaw for financial service.
TrueMoney launched its inbound money transfer solution in Myanmar.
The group backed by Vietnam’s telecom major Viettel – the fourth operator in frontier market Myanmar – is expected to invest up to $2 billion over a five-year period as it gears to kickstart operations in early 2017, a board member of the local consortium said.
ICM is planning to sell two of their projects under the agriculture and agri-support sector by the end of 2016.
KBZ has interests in banking, insurance, aviation and tourism.
Myanmar’s KBZ Bank has opened its representative office in Singapore while South Korea’s Shinhan Bank is beginning operations in the frontier market.
Yangon Stock Exchange-listed Myanmar Thilawa SEZ Holdings Public Limited (MTSH) has proposed to a share split in the ratio of 1:10 in a bid to increase the stock’s liquidity and affordability.