Yoma Strategic Holdings raises US$60.1 pursuant to placement of 155 million primary shares on the SGX

Bagan at Sunset, Myanmar.Singapore-listed Yoma Strategic Holdings Limited (“Yoma”) has raised S$82.2m (“Placing Proceeds”) (or approximately US$60) through the placing of 155 million new ordinary shares (“Placing Shares”) for 53 cents each. The Placing Shares represent approximately 8.2% interest in Yoma. Read more…

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Myanmar to benefit from ASEAN – Hong Kong free trade agreement

myanmar-to-benefit-from-asean-hong-kong-free-trade-agreementFollowing three years of negotiations ASEAN and Hong Kong have entered into a free trade agreement (“FTA”) and a related investment agreement on the sidelines of the 31st ASEAN Summit in Manila.  The agreements will bring about tariff reduction for trade in goods and services, better market access, legal security, a dispute settlement mechanism as well as investment protections for Myanmar and the rest of ASEAN. Read more…

JFE Steel to establish Myanmar high-grade sheet steel production facility

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tropical forest in Myanmar with bamboo piles

Japan’s JFE Steel Corporation (“JFE”) has announced plans to establish a Myanmar manufacturing facility to produce high-grade sheet steel by 2020.  The steel produced will be used in construction. The facility is expected to have an annual capacity of approximately 180,000 tons. Read more…

The Credera Group to establish U$100 million fund to invest in Myanmar green-field ventures

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alone Tree

Singaporean private equity firm, The Credera Group (“Credera”), has announced it intends to establish a U$100 million fund to invest in green-field ventures in the finance, manufacturing and consumer product sectors in Myanmar. According to Credera’s CEO, Mr. Gaurav Manghnani, Credera is currently in advanced negotiations with stakeholders from those sectors and close to completing formal investment agreements.  Read more…

Silver Shine Inter­national Co. Ltd. pharmaceutical company to open manufacturing facility in Shwe Pauk Kan Indus­trial Zone

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gate on the lake

Local pharmaceutical company Silver Shine Inter­national Co. Ltd. (“Silver Shine”) has announced it plans to establish a new manu­facturing facility in the Shwe Pauk Kan Indus­trial Zone. Silver Shine was established in 1995, to produce ‘home remedies’ and over-the-counter (“OTC”) drugs.  Read more…

MySQUAR to provide Wi-Fi and digital content services to Myanmar Railways

MySQUAR-to-provide-Wi-Fi-and-digital-content-services-to-Myanmar-RailwaysMySQUAR Limited (“MySQUAR”), the AIM-listed Myanmar-language social media, entertainment and payment platform has entered into a memorandum of understanding (“MoU”) to provide Wi-Fi and digital content services to state-owned Myanmar Railways. Myanmar Railways intends to offer MySQUAR’s services free to travellers. MySQUAR earn revenue through advertising and direct carrier billing from mobile games and streaming. Read more…

Thai Bev buys Myanmar distilleries Company Group

thai-bev-buys-myanmar-distilleries-company-groupSingapore-listed Thai Beverage Public Company Limited (“ThaiBev”) has acquired 75% of Myanmar Distillery Company Group (“MDC”) and its related supply chain business for US$1 billion. ThaiBev financed the acquisition through internal cash flows and external borrowings. ThaiBev acquired the stake from four third-party vendors, including Texas-based private equity firm TPG Capital (“TPG”) which sold its 50% stake in MDC for US$494.4 million. Read more…

Metro Cash & Carry to build wholesale facility in Thilawa SEZ

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Metro-Cash-Carry-to-build-wholesale-facility-in-Thilawa-SEZ-1The Metro Group (“Metro”), which operates the wholesale and retail chain Metro Cash & Carry internationally, has commenced construction on a wholesale warehouse facility in the Thilawa Special Economic Zone (“Thilawa SEZ”). According to Metro’s deputy CEO Ms. Tiparayat Kaewsringarm, Metro the Thilawa SEZ facility will be operated by Myanmar Wholesale Myanmar Limited (“Metro Myanmar”), the company’s Myanmar subsidiary. Read more…

Ministry of Electricity and Energy state three new natural gas-fired power plants will have the capacity to meet all of Yangon’s energy demands

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Ministry-of-Electricity-and-Energy-state-three-new-natural-gas-fired-power-plants-will-have-the-capacity-to-meet-all-of-Yangon’s-energy-demands-1.jpgThree new natural gas-fired power plants with a combined production capacity of in excess of 450 megawatts are expected to commence operation before the end of May 2018. According to U Khin Maung Lay, deputy managing director of the Ministry of Electricity and Energy (“MOEE”) the additional output will be sufficient to meet Yangon’s energy demands. Read more…