Business

KBank broadens SME support in Myanmar

KASIKORNBANK is stepping up its support of small and medium-sized enterprises in Myanmar where they make up more than 90 per cent of all businesses in the country.

KBank, which styles itself as a champion of small business, has been helping entrepreneurs in Myanmar over the past three years, with short training sessions focused on issues including knowledge transfer and raising awareness of business opportunities.

Oxley, Mottama to develop $250m high-end property

Despite growing skepticism over the capabilities and credential of real estate developers in Myanmar, Singapore’s Oxley Holdings Ltd has joined hands with its local partner, Mottama Development Group Co, to develop a luxury condominium in the nation’s commercial hub.



Ching Chiat Kwong, executive chairman and CEO of Oxley Holdings, said at a media briefing on Tuesday their property, entitled “Min Residences”, would be the first property in Myanmar to be introduced with more than 60 fitness, wellness and recreational facilities.



More air ambulance flights head to Thai hospitals

More air ambulance services are being offered to Myanmar citizens who prefer to undergo medical treatment at hospitals in Thailand or other nearby countries, sources have revealed.
 
Myanmar MJETS Business Aviation Centre provides services for international charter flights at Yangon International Airport. Last year, 42 charter flights carried patients abroad for medical treatment. The firm also does charter flights and air ambulance service. 

Myanmar faces export problems despite lack of tariffs: minister

Although the country can export goods to the EU, the US, the UK, Japan and South Korea tariff-free, the export sector still faces issues, according to the Minister for Commerce.

Dr Than Myint said on May 15: “We can export agricultural products to the EU, the US, the UK, Japan and South Korea. But we cannot compete with other countries both in terms of price and quality. Moreover, we cannot export to deadlines, and therefore sometimes cannot fulfill the orders we are given.”

Power plant and rice mills open in Ayeyawady

A 2.2-megawatt power plant and two rice mills opened in Kyaiklatt Township, Ayeyawady Region, on May 15.

The Myanmar Agribusiness Public Corporation (Mapco) and six shareholders under the Golden Lace Company jointly operate the firms with a 55:45 ownership ratio.

The Mapco Golden Lace has gained licences from the Myanmar Investment Commission. Phase 1 of the plans include a steam-powered power plant and two rice mils.

Yangon to get 8,000 more flats by 2018

The Ministry of Construction expects to finalise plans to build 8,000 new flats in Yangon Region by March 2018.

The ministry has already built 2,200 low-cost flats in the first 100 days since the government took office, with the Yangon Regional government currently managing 1,500 of them.

The Urban and Housing Development Department plans to sell over 600 flats, according to the ministry.

Success Property launches sales event in Yangon

Success Property Consultant (SPC) held Yangon’s first Private MEGA Housing Sales 2017 event on May 13-14 at the Yangon International Hotel.

SPC and the companies behind luxury real estate developments such as Golden City, Kanbae Tower, River Front Garden, May Inya and Secret Diamond Project came together to promote their high-end condominium units, beachside villas, furniture and other home accessories, and construction materials as well as medical tourism services.

Govt must build capacity to attract responsible businesses: MCRB

Myanmar Eleven

Asia News Network

Yangon

Myanmar’s aim to become Asia’s last frontier may not be realised if the government fails to urgently address the challenges it faces in promoting responsible businesses, according to Vicky Bowman, director of Myanmar Centre for Responsible Business.

Aust firms urged to invest in Myanmar

MYANMAR ELEVEN

ASIA NEWS NETWORK

YANGON

THOUGH Australian businesses are still cautious about doing business in Myanmar, they should not hesitate to enter the country, as both governments are committed to supporting bilateral economic ties, according to an Australian diplomat.

CHD bank lends Ks80bn to developers

Construction and Housing Development (CHD) Bank has lent Ks80 billion to developers who need financial aid, said managing director Myint Myint Mu of banking and finance department at the CHD on May 13.