Japan’s Mitshi acquires 44% in Myanmar Power


Mitsui & Co has acquired 44 per cent equity interest in Myanmar Power, a subsidiary of Singapore-based MAXpower Asia Group Pte Ltd (MAGPL)  for around $17 million. This investment makes Mitsui, the first Japanese company to invest in the Hermit Kingdom’s power sector. Myanmar Power operates a  a gas-fired generation… Read more »

MIIL raises $3.79m for Myanmar investments

Myanmar Investments International Ltd (MIIL), an AIM-quoted Myanmar focused investment company, said it has raised $3.79 million through a share subscription by existing shareholders. The company plans to use these funds for general working capital and further investments in Myanmar. The firm raised $3,797,850 via a subscription of 3,617,000 new ordinary… Read more »

SuleTech is Yangon’s new community tech hub

A new technology hub called SuleTech was opened recently in downtown Yangon. It aims to become a centre for the local tech community. SuleTech will be used to foster the “technology ecosystem” in Myanmar, and will have offices, co-working facilities, trainings rooms, a UI/UX lab, and a program of workshops, trainings… Read more »

Startups in Myanmar: hurdles and way forward

Can Myanmar, that is opening up to the world after 50 years of isolation, emerge as a startup destination?  Harald Friedl, an observer of the Southeast Asian startup world, an angel investor as well as a MD of a renewable energy company, who has been living in Myanmar for more… Read more »

Frontier Digital Ventures enters Myanmar with two deals

Frontier Digital Ventures (FDV) has made two landmark investments in Myanmar’s leading online automobile and property websites, marking its foray into the premier frontier market. The websites are MyanmarCarsDB.com and iMyanmarHouse.com. FDV offers participating entrepreneurs a singularly unique proposition, providing not only necessary capital, but also invaluable expertise in developing,… Read more »

Blink Features ‘True Tales from Myanmar Startups’ Panel discussion

Myanmar is opening to business and creating a new generation of entrepreneurs. Challenges remain: the lack of a strong entrepreneurial culture and insufficient capital are hurdles especially for entrepreneurs leading startups. The opening discussion of this year’s Global Entrepreneurship week Myanmar unlocked the behind-the-scenes stories of young Myanmar entrepreneurs and… Read more »

Myanmar SMEs to get $50m loans from Singapore, Vietnam

Myanmar will receive $50 million in loans from Vietnam and Singapore, to be distributed to small and medium enterprises (SMEs) by the Small and Medium Industrial Development Bank, authorities said. Starting in April 2015, the Small and Medium Industrial Development Bank will dish out $30 million from Vietnam and $20… Read more »

Globe Telecom eyes Myanmar

Philippines-based Globe Telecom Inc is considering Myanmar as a potential expansion area and is looking into the possibility of expanding operations within ASEAN, the company said in a statement. Myanmar is a potential expansion area for Globe Telecom, president and CEO Ernest Cu told participants during the recent Asia Pacific… Read more »

Golden City partners Reebonz for Myanmar play

Golden City, a Singapore-led luxury real estate development project, said it has signed an official partnership agreement with Southeast Asia-focused online luxury sales company Reebonz. This partnership marks the start of luxury shopping to the growing middle class in Myanmar by launching the country’s first multi-label luxury boutique. In the… Read more »

Mitsubishi seals deal to operate Mandalay airport

Two Japanese companies, along with local firm Yoma Development Group Ltd, will renovate, operate and maintain Mandalay International Airport for 30 years in a deal announced last week. Mitsubishi Corp, JALUX and Yoma signed the deal with the Department of Civil Aviation (DCA). The concession agreement is set to go… Read more »