Thai developer to build USD 1 billion complex in Yangon

Thai developer Amata Corp. has announced plans to invest USD 1 billion in an industrial complex in Yangon. Amata recently signed a land lease agreement and joint venture agreement with the Myanmar Ministry of Construction in the country’s capit

New protest marks ongoing garment industry unrest

Garment workers marched to Yangon City Hall on Tuesday in the latest episode of the labor rights saga within Myanmar’s garment industry. The workers from three foreign-owned factories took to the streets after the sacking of workers union leade

KBZ Bank sues Yangon port for USD 220 million

KBZ Bank has filed suit against the owner of Myanmar Industrial Port over what could be the largest loan default in Myanmar history. KBZ is suing tycoon U Ko Ko Htoo and his company for unpaid debt totaling more than USD 220 million, reported Frontie

Emporium shows jade and gems still hot

The Myanma Gems Enterprise raked in nearly MMK 60 billion, or USD 40.1 million, at its week-long jade and gems emporium in Nay Pyi Taw. The annual week-long event allows jade and gem dealers to examine and bid for nearly 4000 lots. This year, more th

Garment tycoons optimistic despite strike

Myanmar’s garment industry is on track to meet its goal of USD 10 billion in exports by 2024, according to the Myanmar Garment Entrepreneurs Association (MGEA). The statement comes despite ongoing strikes and protests from garment workers. The

Tycoon will continue paying dividends to investors despite slump

A company owned by one of Myanmar’s richest men will continue to pay high dividends to investors despite sinking profits. U Khin Shwe, chairman of the National Development Company Group, made the announcement at the company’s annual share