Myanmar’s central bank relaxes norms on foreign bank lending

By
Posted

Banking executives broadly welcomed Thursday’s announcement, though foreign banks will still be prevented from offering retail banking services.

Yoma to bring pretzel chain Auntie Anne’s to Myanmar; New Day wins Seedstars Yangon 2018

With the first Auntie Anne’s outlet slated to open in Yangon, the brand is eyeing a wider presence in the country over the next five years.


EME Myanmar takes significant minority stakes in CarsDB, Joosk

EME Myanmar, with an initial corpus of nearly $3 million, is looking for investments with a ticket size of $50,000 to $200,000.


Myanmar’s Rent 2 Own bags $6m funding from DEG, agRIF, Daiwa PI

Launched in January 2016, Rent 2 Own charges users a monthly fee, which covers maintenance and insurance, to rent a motorcycle.


Memories Group buys out Samena Capital-backed Myanmar firms for $41m

Private equity firm Samena Capital had invested $19 million in SM Asset Holdings in 2017 through its Samena Special Situations Fund III L.P.


Fintech startup AND Global raises $2.8m in funding

The latest investment brings the total funding raised by AND Global and its subsidiaries to $15.3 million, including equity investment and debt financing. 


South Korea’s Lotte to buy 80% stake in Myanmar’s bakery company

L&M Mayson operates three factories in Myanmar and produces bread, biscuits and cakes. The Yangon-headquartered firm had sales of about 35 billion won ($30.6 million) last year. 


Impact investor Insitor eyes two more deals, follow-ons in Myanmar

Insitor is looking at investing around 25 to 30 per cent of the capital in social sector startups/enterprises in Myanmar.


Yoma Bank extends second tranche of $2.5m debt to Myanmar’s Easy Microfinance

Easy Microfinance is the tenth MFI in Myanmar that Yoma Bank has extended financing to in the last year.


Nest Tech joins Myanmar fitness platform Flexible Pass funding round

Nest Tech joins other investors Seed Myanmar and Yangon Capital Partners as part of the round.