Foreign microfinance investors to pour $6.85m into Myanmar firm


American non-profit Accion, together with the Dutch development bank FMO and Triodos Investment Management, is to invest in Dawn Microfinance in a bid to expand the local microfinance firm. The consortium said the $6.85-million investment is intended to establish the newly incorporated microfinance institution (MFI) as a “premier institution that… Read more »

Anthem Asia invests in Myanmar’s mobile data collection startup Xavey

Anthem Asia, an advisory group that largely invests in businesses in Myanmar, said it had put in an undisclosed amount for a significant minority stake in Xavey, a mobile data collection platform. Myanmar-based Xavey is working towards providing decision makers with reliable, timely information about people’s attitudes, habits and spending… Read more »

BTMU to invest $100m in Myanmar’s first foreign bank branch

The Bank of Tokyo-Mitsubishi UFJ (BTMU) will focus on training human resources for its new branch in Myanmar as an initial core step in developing business in this newly penetrated market, DEALSTREETASIA has learnt. The Japanese bank on April 22 became the first overseas bank to open a branch in… Read more »

Spanish hotel chain Melia to manage HAGL’s hotel in Myanmar

Spanish hotel chain Melia has tied up with the Myanmar-based hotel property developer Hoang Anh Gia Lai Group (HAGL) through a hotel management contract signed on April 30, the Vietnamese company announced. While the deal value was not revealed, HAGL-invested hotel in Yangon – Melia Yangon – will join Melia’s network of… Read more »

Keppel Land expands Sedona Yangon, adds $80 million wing

Keppel Land, the property arm of Keppel Group, is expanding its Myanmar hospitality business by adding a $80 million (S$106 million) wing at the Sedona Hotel Yangon. This 29-story expansion effectively doubles its capacity, adding 420 room and projected to be completed in Q42015, amidst a surge in increased tourist and business… Read more »

Suzuki to build second Myanmar car plant

Suzuki Motor Corp will invest “several billion yen” to build a second auto plant in Myanmar in a bid to make quick inroads into the country’s booming auto market, a report said. Japan’s Nikkei business daily reported that the company has secured a 20-hectare plot at the Japanese-backed Thilawa special… Read more »

Ooredoo, StarHub join hands to provide data service in Myanmar

Ooredoo Myanmar has formed a strategic partnership with Singaporean telecommunications firm StarHub to offer data services to companies operating from Myanmar via its international fibre gateway. Both telcos have agreed to collaborate on the provision of international private leased line (IPLC) and managed services (such as IP-VPN) through each telco’s… Read more »

Visa opens Myanmar office, banking on high growth

American payment giant Visa Inc has opened an office in Yangon in a bid to expand its growing footprint in Myanmar’s nascent electronic payments market. Visa said since entering the country in October 2012 it has seen “considerable growth” in the uptake of electronic payments. Last year, transaction volume, payment… Read more »

MIIL eyes all four securities licences for Yangon Exchange

Myanmar Investments International Limited ( MIIL), together with two other partners, has filed an application to the Securities and Exchange Commission of Myanmar (SECM) to acquire all of the four types of securities licences for the upcoming Yangon stock exchange (YSX) later this year, the firm said. The Ministry of… Read more »

Exclusive: Myanmar’s MySQUAR aims to raise $2.5m in May London listing

MySQUAR, Myanmar’s only social media platform in the local language, is looking to raise $2.5 million, at a valuation of $25 million, through an initial public offering on London’s Aim, next month, an executive linked to the company said. Shashi Fernando, Chief Executive Officer at Yonder and Beyond, the Australia… Read more »