Chevron signs PSC for Rakhine offshore block


American oil giant Chevron Corp announced that its subsidiary, Unocal Myanmar Offshore Co Ltd, has entered into a Production Sharing Contract (PSC) with state-run Myanma Oil & Gas Enterprise (MOGE) to explore for oil and gas in the Rakhine Basin. The new PSC area, Block A5, lies 125 miles (200… Read more »

Thirty-one hydro projects up for grabs in Myanmar

The Ministry of Electric Power announced that it will implement eight hydro power projects from a planned total of 39 and distribute the rest to local and foreign companies through joint venture or build-operate-transfer (BOT) basis. “The ministry will implement eight projects with our own engineers. Currently, there are six… Read more »

Direct seller QNet enters Myanmar market

Hong Kong-based direct selling firm QNet said it has entered the buoyant direct selling sector in Myanmar in a bid to tap entrepreneurs without business background. Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. The size of the global direct… Read more »

Vivo Mobile enters Myanmar market

Chinese smartphone manufacturer Vivo Mobile has launched its brand in Myanmar to tap the Southeast Asian countries recent telecoms boom. “Vivo Mobile’s entrance into the Myanmar market, the last economic frontier in the world, is a significant step to expand our business in the region. It’s exciting to come in… Read more »

Myanmar’s grocery delivery startup seeks investment to expand outside Yangon

A Myanmar based startup that offers online grocery delivery service, the first of its kind in the country, is seeking funds to scale up operations. Table Top Grocers, which is recently started operating  in Yangon is looking to replicate its model across the country. In a recent interaction with DEALSTREETASIA, the team behind Table Top Grocers… Read more »

Despite limited scope, foreign alcohol flux sends shivers through industry

After a quiet campaign against reselling imported foreign alcohol, the government announced an easing of restrictions from the new fiscal year, which starts in April. However, there is still a great deal of uncertainty over the future of the foreign alcohol in Myanmar. Foreign liquor is still unavailable at supermarkets…. Read more »

Chinese property slump may affect real estate in Myanmar

China’s tumbling property market due to its sluggish growth is expected to have an impact on Myanmar’s booming property sector, a real estate portal said in its recent analysis. After decades of double-digit economic growth, China is seeing a decline in growth rates. According to the Chinese government’s economic statistics… Read more »

Yoma gets lease extension on Yangon Hotel project

Singapore-based conglomerate Yoma Strategic Holdings was granted by the Myanmar Investment Commission (MIC) an extension of a lease to develop the former headquarters of the Burma Railways Company into a five-star hotel, the firm said in a stock exchange filing. Meeyahta International Hotel Ltd (MIHL), a company in which Yoma… Read more »

OneWeb, Honeywell tie up in high-speed Internet move

American aviation firm Honeywell Aerospace and OneWeb Ltd have signed a memorandum of understanding under which Honeywell will provide aircraft equipment and airtime services to bring OneWeb’s planned satellite constellation to business, commercial and military aircraft. OneWeb is building a constellation of more than 600 satellites, which will provide approximately… Read more »

MPU, JCB ink licence agreement for EMV debit cards in Myanmar

Myanmar Payment Union (MPU) and JCB International Co, a subsidiary of Japanese credit card company JCB Co Ltd, have signed a licensing deal to issue JCB cards in Myanmar, the firms said. With this agreement, MPU member banks in Myanmar will be able to issue MPU/JCB co-branded cards linking to… Read more »