Meliá accelerates growth in Asia Pacific as it enters Myanmar

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Spanish hotel chain Meliá Hotels International is progressing with its expansion strategy in Asia Pacific, a key growth market, where the company’s portfolio now stands at 24 hotels and more than 6,300 rooms. The company has announced its entry into Myanmar with the signing of Meliá Yangon, a project which… Read more »

Colliers named leasing rep for Shangri-La’s commercial complex in Yangon

Hong Kong-based hotelier Shangri-La Group said it has appointed American real estate services firm Colliers International as its sole leasing representative for its commercial complex development in Yangon. The Grade “A”, 15-floor Sule Square Mall and Office is due for completion in 2016 and will provide 36,000 leasable square metres… Read more »


Singapore Windsor secures Europcar’s Myanmar franchise deal

Singapore Windsor Holdings Limited said that its wholly-owned subsidiary, SMI Auto Services Pte Ltd, has been appointed the sole country franchisee in Myanmar by the French car rental farm Europcar. The franchise agreement will be valid for five years, and is renewable for a further five years upon mutual agreement… Read more »


Starwood Hotels to enter Myanmar with Sheraton Yangon

Starwood Hotels & Resorts Worldwide Inc said it has debuted in Myanmar market with the signing of Sheraton Yangon Hotel, a new build property in the country’s commercial hub. Located in the Tamwe township, near Kandawgyi Lake, the Sheraton Yangon Hotel will feature 375 rooms. Other property offerings will include… Read more »


Ooredoo to get new CEO for Myanmar unit

Qatari telecoms firm Ooredoo said that Rene Meza, currently managing director of Vodacom Tanzania, will replace Ross Cormack as CEO of its Myanmar business. The firm said in a statement that Cormack “has taken the decision to leave his position later this year.” Over the past two years, Ross has… Read more »


Trimble sets up SITECH technology dealer for civil construction contractors in Myanmar

California-based Trimble announced that it has established “SITECH Technology Dealer” in Myanmar – a global distribution network offering construction technology systems. SITECH Technology Dealers represent Trimble and Caterpillar machine control systems for the contractor’s entire fleet of heavy equipment, along with Trimble’s site positioning systems, construction asset management services, software… Read more »


GIZ selects SME banks in Myanmar

German development agency GIZ has selected three local banks in a bid to finance the small and medium enterprises in Myanmar, according to officials from the organisation. The selected banks – Small and Medium Industrial Development Bank (SMIDB), Kanbawza Bank (KBZ) and Yoma Bank – will be assisted in providing… Read more »


ADB signs $1b loan deal with the Myanmar government for private infrastructure development

The Asian Development Bank (ADB) concluded a deal with the Myanmar government to allow the lender to provide $1 billion in loans, equity investments, guarantees and trade financing directly to private companies and projects in the country. The Manila-based bank said the money will be channeled into investment projects until… Read more »


Hong Kong firm increases Myanmar manufacturing entity ownership to 75%

Hong Kong-based Highway Holdings Limited announced that it has purchased an additional 50 per cent ownership interest in a Myanmar entity that operates a manufacturing and assembly factory. Previously, the company utilised the 15,000-square-feet factory for more than two years under a subcontracting arrangement. Highway Holdings held a 25 per… Read more »


The Polish solution to Myanmar’s banking sector

Most emerging post-socialist economies face the same particular dilemma; How to reform and develop the banking sector. The centrally-planned, state-command economies were usually characterised by a mono-bank system with a quasi-central bank being also a quasi-commercial entity. Thus, in the process of market institutionalisation one would have to create a… Read more »