HGC Global Communications Limited (“HGC”), (formerly Hutchison Global Communications Limited) a fixed-line operator and internet service provider with extensive local and international network coverage and infrastructure, has announced details of its conditional share purchase agreement between a separate subsidiary of HGC and the shareholders of Golden TMH Telecom Company Limited (“GTMH”), whereby the HGC Group will effectively become the majority shareholder of GTMH on the closing of the transaction. Read more…
Advertisements
The Stock Exchange of Thailand-listed PTT Exploration and Production Plc (“PTTEP”) has announced plans to develop and operate a large gas-fired power plant to be situated south west of Yangon, through its wholly-owned Myanmar subsidiary PTTEP International Company Limited. 
According to the annual progress report of The Extractive Industries Transparency Initiative in Myanmar (“Myanmar MEITI”), Myanmar’s oil and gas sector, while being the largest source of revenue for the Government, is also responsible for almost half of Government debt. 
The Myanmar Investment Commission (“MIC”) has approved an investment proposal received from the Singapore-based Shwe Daehan Motors Company Limited (“Shwe Daehan Motors”) in respect to the development of an auto manufacturing facility in the Thardukan Industrial Zone in Shwepyithar Township, Mandalay. According to the MIC Shwe Daehan Motors will invest US$9 million to develop the facility which will manufacture cars and motor bikes on behalf of an undisclosed Korean motor brand. 
The Myanmar Government has belatedly issued rules implementing the 2015 Myanmar Mines Law (“2015 Mines Law”). The 2015 Mines Law introduced a number of progressive legislative amendments intended to encourage international participation in Myanmar’s mining sector. 
