Business

Share prices fall

Share prices fell to Ks28,000 on May 5, down another Ks500.

Around 2,000 shares were sold in the morning and 7,106 shares in the afternoon.

The price was Ks31,000 when the market launched, reaching Ks 41,000 in March.

 

40% of Yangon industrial sites idle: planner

Urban planner Dr Kyaw Lat has told a seminar in Yangon that about 40 per cent of the city’s industrial space lies idle and is controlled by single companies or an individual without being developed.

He told a seminar at City Hall that industrial land prices were a huge obstacle at Ks400 to Ks600 million per plot, up from Ks3 to Ks5 million in 2005.

“Many factories and workshops emerged in Yangon. The industrial land prices are an obstacle. In 2005 an industrial land plot cost Ks3 million or Ks5 million,” he said.

Stock exchange stifled by US sanctions

According to discussions at the Yangon Stock Exchange (YSX), many shareholders are saying that change is necessary.

Worries concerning extremely unstable share prices within weeks of its opening as well as being automatically put on the US sanctions list were raised at the "Impact of the establishment of the YSX on the financial services industry” discussion organised by the Oxford Business Group.

Myanmar rice shipment still barred from Indonesia

Myanmar rice exported to Indonesian’s Sarabaya Port has still not been unloaded from its cargo chip, according to the vice chairman of the Myanmar Rice Federation.

“We will find out in a day or two whether it will be allowed to be unloaded or not. It has been sitting at the port for quite long already, which could have been damaged our rice quality. We will get complaints from the [Indonesian buyers] when they unload the rice and see its condition. Then, we will find out a solution,” said MRF vice chairman Dr Soe Tun.

Workers Union Network calls for daily minimum wage of Ks 5,600

The Myanmar Workers Union Network yesterday called on the new government to enact a minimum wage of Ks 5,600 at a ceremony marking International Workers’ Day in Hlaingthaya Township, Yangon. The ceremony was attended by MPs from the National League for Democracy, members of labour unions and farmers unions, officials from political organisations and around 500 workers.

The Myanmar Workers Union Network released a nine-point statement yesterday, urging the new government to deal with address the issues related to labour rights.

Real estate investment reaches US$3.7bn

Investment in real estate during the 2015-16 fiscal year exceeded US$3.7 billion, according to the Directorate of Investments and Company Administration.

Foreign investment made up more than US$3 billion of the total.

The manufacturing sector topped the list for domestic investment with more than US$2.3 billion, followed by real estate with US$694 million, according to the DICA.

Rice bosses bemoan lack of investment

Myanmar's agriculture sector faces development challenges and it received no significant inflows of foreign investment in the past five years, according to the Myanmar Rice Federation. 

The Directorate of Investments and Company Administration said agricultural foreign direct investment (FDI) was US$7.2 million during the 2015-16 fiscal year. The sector received US$138.8 million in 2010-11 and nothing was recorded the following year.  

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