Myanmar Dealbook: Mizuho, Max in MoU; Ford, Nissan, Lisan set up assembly

Mizuho Bank from Japan has entered into an MoU with a local conglomerate, Max Myanmar Holdings, to help facilitate investors from Japan to enter the frontier market. Global automobile majors Ford, Nissan and Lisan are starting their facility to assemble cars in Myanmar.

Mizuho Bank, Max Myanmar enter MoU

Japan’s Mizuho Bank has entered into an memorandum of understanding with Max Myanmar Holdings Co Ltd to facilitate Japanese investors keen on foraying into the frontier market.

Max Myanmar, which has a nationwide network, is engaged in the businesses of  energy, trading, construction, hotel, manufacturing and agriculture. Max Myanmar Group is also open to potential partnerships with Japanese firms eyeing investments in Myanmar.

Mizuho signed similar MoUs  with AYA BankMyanmar Investment Commission (MIC) and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).

Mizuho became the first foreign bank to be permitted to open a second office in Thilawa Special Economic Zone in Myanmar in December 2015. Mizuho was also among nine foreign banks which were granted approval by the Central Bank of Myanmar in September 2014.

Ford, Nissan, Lisan to set up assembly lines

Global automobile majors Ford, Nissan and Lisan are setting up their assembly units in Myanmar and are gearing up for sales in 2017, according to Dr Soe Tun, chairman of Myanmar Automobile Manufacturers and Distributors Association.

Japan’s Nissan, which established an assembly in Hlaing Tharyar township, will be ready to sell cars in Myanmar by February 2017 while Ford is looking at rolling out its vehicles by June 2017.

Lisan from China is also starting its assembly line and will be ready for sales next year, he said.

Also Read:

MY Dealbook: PetGas gets $500m loan from Mizuho Bank; Top Glove aims M&A by August

Vietnam’s BIDV launches ops with $85m for businesses that have direct link with Myanmar

Malaysia’s Maybank starts Myanmar ops with branch in Yangon

 

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. 
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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.