Thai developer fired from Dawei SEZ

Myanmar has axed a number of high-value contracts with a major foreign developer in the Dawei Special Economic Zone over project delays and a lack of transparency. Early this week, Thailand-listed Italian-Thai Development (ITD) revealed that Myanmar

Siam Commercial Bank launches in Myanmar

Siam Commercial has officially launched its Myanmar subsidiary, Siam Commercial Bank Myanmar. “This development is an important jigsaw piece in SCB accomplishing its strategic expansion of its overseas network,” said Siam Commercial Bank

China signs MOU for Mandalay-Rakhine railway

China and Myanmar signed an MOU this week for a new 650-kilometer railway line connecting Mandalay with Kyaukpyu, Rakhine State. The new railway will join with another planned line from Mandalay to Muse, creating an unbroken line from the Bay of Beng

YSX to add four new companies this year

The Yangon Stock Exchange will soon add a seventh company, Amata Holding, to its bourse, but three more are planned for this year, YSX executive senior manager U Thet Tun Oo told Bloomberg. He added that as many as 30 are in consideration as the exch

Thailand to invest USD 2 billion in gas project

Thailand’s state-owned PTT Exploration and Production (PTTEP) has been granted approval to build a USD 2 billion multi-faceted natural gas project in Myanmar. The project involves gas field development, a new pipeline and a nearly 600 megawatt

Kirin audit inconclusive

Japanese beverage giant Kirin’s investigation of its controversial partnership with a Myanmar military conglomerate has failed to yield significant findings, the company said in a statement. “Unfortunately, the assessment was inconclusive