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 for finance, said.

“We are now establishing the standards for selection. We can’t rush this as it is quite new in the history of Myanmar,” he told reporters.

The stock market will be established with priority to those companies who have submitted capital to the Myanmar Credits Supervisory Commission. K15 billion will come from stock distribution companies, K10 billion from direct traders, K7 billion from brokerage companies, and K3 million from advisory and consultancy companies.

Dr Aung Thura, CEO of Thura Swiss, a business research and advisory company, told Myanmar Business Today, “Advisory companies should have in-depth knowledge so that there can be many investors. Careful company selection needs to be done and (partnerships made with) reliable ones.”

He also said that as stock service companies are starting up, many companies will begin to apply for licences as well,  and the market will develop and prosper soon.

Dr Maung Maung Thein added that local companies will be given  permission to join the stock exchange for the time being but cooperation with foreign stock exchange will be considered according to the market needs.

Source: Content sharing agreement with Myanmar Business Today

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.