Local carrier Air Mandalay halt services

Defunct airlines face lawsuit despite industry upturn

The government may sue two defunct airlines if they fail to pay their debts by May. Air Mandalay and Asian Wings Airways owe the government a combined MMK 93.72 million, or USD 64,400, deputy minister of Transport and Communications U Kyaw Myo told p
YSH to increase stake in Digital Money Myanmar (Wave Money)

YSH to increase stake in Digital Money Myanmar (Wave Money)

Singapore Stock Exchange-listed Yoma Strategic Holdings (YSH) has agreed to buy an additional 10% in Digital Money Myanmar (Wave Money) from Yangon-listed First Myanmar Investment (FMI) for USD 6 million. Wave Money is the largest mobile payment serv

Filipino giant to partner with Myanmar tycoon

A major Filipino corporation will invest USD 238 million into two companies owned by Serge Pun, one of Myanmar’s tycoons. The investment will bring the combined value of those companies to more than USD 1 billion, according to the Financial Tim
YSX-listed FMI sells aviation unit stake to SPA for $5.2m in intra-group deal

FMI to sell stake in airline to SPA Aviation

First Myanmar Investment (FMI) has sold its 10 percent stake in FMI Air Limited to SPA Aviation Holdings for MMK 7.9 billion. According to an article in Dealstreet Asia, the move comes about 10 months after the airline halted its domestic operations.

First solar-powered yacht launched in Myeik

Luxury cruise company Burma Boating has announced that the first solar-operated yacht in Asia will begin sailing later this month in the Myeik Archipelago. Burma Boating, which is part of the Singapore-listed Memories Group, said that the new boat is
Taunggyi Hospital Acquisition of majority stake by FMI

FMI subsidiary buys majority stake in Taunggyi hospital

Yoma Siloam Hospitals Pun Hlaing, a subsidiary of the conglomerate First Myanmar Investment (FMI), has paid USD 4.9 million for a majority stake at a hospital in Taunggyi, the capital of Shan State, according to a report in the Myanmar Times. The rep