57 firms keen on YSX Licence in Myanmar


The Yangon Stock Exchange (YSX) has received 57 applications from businesses seeking involvement in the upcoming bourse, an official has said. There have been 30 applications from share distribution companies, seven from stock trading companies and brokers and 20 from advisory and consultancy firms, Dr Maung Maung Thein, deputy minister… Read more »

FMI, Lippo tie up to foray into Myanmar’s healthcare industry

Local conglomerate First Myanmar Investment Co Ltd has formed a joint venture with Indonesia’s Lippo Group in a bid to provide international standard healthcare services at its Pun Hlaing Hospital. The Lippo Group is the controlling shareholder of Siloam International Hospitals, Indonesia’s largest healthcare operator with currently 21 hospitals in… Read more »

Carlsberg establishes Myanmar brewery in JV with Myanmar corp

Danish brewer Carlsberg has become the first foreign brewer to establish a facility in Myanmar. It has recently launched a $75 million brewery located in Bago, 80 km northeast of the commercial capital Yangon. The brewery is a joint venture with Myanmar Golden Star Group, a holding company involved in food and beverages. Golden… Read more »

KFC to ply fried chicken in Yangon

Myanmar’s first KFC franchise is set to open in Yangon, in a partnership with Yoma Strategic Holdings Ltd, the latter said in a statement. According to the release, Yoma Strategic will open several more KFC locations in Yangon before the end of this year. This partnership underscores Yoma Strategic’s push… Read more »

UOB becomes fourth foreign bank to open doors in Myanmar

Singapore-based United Overseas Bank Group (UOB), opened its branch in Yangon last week, intending to focus on foreign direct investment in Myanmar. In a presentation, UOB’s country manager Harry Loh said that they would focus primarily on energy, hospitality, construction and infrastructure, and manufacturing. UOB cited a report by the… Read more »

Singapore Windsor bags $39-m Ooredoo tower contract for Myanmar

Singapore Windsor Holdings Limited said that its subsidiary has secured a build-and-lease contract of 500 telecommunication towers for Ooredoo Myanmar. Based on the cost of construction, the contract is valued at $39 million over 18 months, the company said in a stock exchange filing. The construction and lease agreement, which… Read more »

UOB finances new power plant in Yangon

United Overseas Bank (UOB) has inked a financing agreement with Singapore-based firm Royal GK Private Limited for a power plant in Yangon, the Singaporean lender said. Royal GK, an engineering procurement and construction company, was commissioned by the Myanmar Central Power Co (MCPC) to procure gas engines for the construction… Read more »

Radixx strikes FMI air deal in Myanmar

Florida-based Radixx International, a cloud-based reservation and distribution system for airlines, has entered into an agreement with local carrier FMI Air to manage its reservation and departure control systems. FMI Air CEO Bruce Nobles said, “As Myanmar opens up to foreign investment and tourism, the need for a world-class air… Read more »

Oxley incorporates subsidiary in Myanmar

Singapore-based property developer Oxley Holdings Ltd announced that it has incorporated a subsidiary in Myanmar in line with the group’s expansion plans. The subsidiary – Oxley Consultancy & Management Company Limited – will have an issued and paid-up capital of $50,000 comprising 50,000 shares of $1 each, the company said… Read more »

Myanmar Investments mulls equity issue to rope in more funds

Myanmar Investments International Ltd (MIIL) is considering raising additional funding over the next few months via equity issue to take advantage of its growing pipeline of investment opportunities, the AIM-listed firm said. Michael Dean, the firm’s finance director, said, “We recently announced the possibility of setting up and investing in… Read more »