​​​​​​​HKEX-listed HGC Global Communications acquires majority stake in leading network service provider in Myanmar

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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…

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DICA issues Myanmar Companies Regulations implementing the Myanmar Companies Law and requiring companies to re-register online

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Introduction to 2018 Myanmar Companies Regulations

On 23 July 2018. Myanmar’s Ministry of Planning and  Finance issued Notification No. 66/ 2018 in accordance with Section 462 (1) (a) of the Myanmar Companies Law 2017 (“MCL”). Notification No. 66/ 2018 (“Myanmar Companies Regulations” or “Regulations”) establishes an online companies’ registry (“Myanmar Companies Onlineor “MyCo“) and sets out provisions in respect to the operation  of the MCL, which comes into effect on 1 August 2018 and replaces the Myanmar Companies Act (1914) (“MCA”). Read more…

PTTE in talks with Myanmar Government to develop large gas fired power plant in Yangon region

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ptte-in-talks-with-myanmar-government-to-develop-large-gas-fired-power-plant-in-yangonThe 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. Read more…

Myanmar MEITI reports Myanmar’s oil and gas sector accounts for almost half of the country’s national debt

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myanmar-meiti-reports-myanmars-oil-and-gas-sector-accounts-for-almost-half-of-the-countrys-national-debt.jpgAccording 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. Read more…

The Myanmar Investment Commission approves development of new US$9 million auto manufacturing facility

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the-myanmar-investment-commission-approves-development-of-new-us9-million-auto-manufacturing-facility.jpgThe 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.  Read more…

Myanmar’s Ministry of Mines issues regulations implementing the 2015 Mines Law and commences consultation on draft mining EIA Guidelines

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myanmars-ministry-of-mines-issues-regulationsThe 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. Read more…