Myanmar’s Mahar Bawga Finance gets $916k loan from AGD Bank

Photo: Juliet Shwe Gaung. Sule Pagoda in Yangon.

Mahar Bawga Finance Company Limited (MBF), a Yangon-based non-banking financial institution, has announced a K1.4 billion (about $916,000) loan financing from Asia Green Development Bank.

MBF will use the proceeds for its business expansion plans including opening new branches, renovation and introducing new financial products.

“AGD plans to continuously support other MFIs and NBFIs as part of the Bank’s initiatives to promote financial inclusion in Myanmar,” as announced by AGD Bank.

Established in 2013, MBF was founded by CEO Myo San and the company has since provided credit facilities and services to over 30,000 customers in the informal and micro, small and medium enterprises.

MBF has got a head office in Sanchaung township, a branch in Thingangyun  and recently opened a new branch in South Oakalapa township.

Loans offered by MBF includes consumer loan which comprises a majority part of the loan offered, mortgage and collateral loan, lease finance for businesses and hire purchases.

“MBF had tested the market for new financial products in past years and are now about to launch them widely, according to MBF.

The latest financing comes four months after MBF received K2.2 billion ($1.46 million) in a semi collateralized loan from Yoma Bank.

Previously, MBF was also indirectly funded by IFC through Yoma Bank to support the non-banking sector in Myanmar.

Singapore Reporter/s

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

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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.