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Telenor Group has announced today that it has entered into an agreement to sell 100 percent of its mobile operations in Myanmar to M1 Group for a total consideration of 105 million USD (approximately 900 million NOK), of which 55 million USD (approximately 470 million NOK) is a deferred payment over five years. The...
အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် Securities and Exchange Commission of Myanmar (SECM) is planning to convince state-owned enterprises (SOEs) to become listed companies at the five-year-old Yangon Stock Exchange, which only has six listed companies so far. “For the SOEs, which need government funding, they can remain as state-owned ones. For the rest,...
The State Administration Council has imposed K20,000 per SIM card on the sales and activation of the SIM Cards and 15% commercial tax on internet services after amending Union Tax Law 2021. "No matter what provisions the Commercial Tax Law comprises, only once commercial tax shall be levied K20,000 per the...
Last Saturday, Myanmar’s Union Election Committee announced a victory for Daw Aung San Suu Kyi’s National League for Democracy (NLD) in the 2020 Myanmar General Election. The party won 83 percent of the seats in the Union Parliament, which exceeds even the number of seats gained in the previous...
Germany-based international wholesale company METRO has announced that it will cease its foodservice distribution business in Myanmar due to the volatile investment and business environment in the Southeast Asian country, which is expected to continue for some time. "We made this decision with regret because we started 2019 with positive...
"Fix the money, fix Myanmar" This is the slogan of Myanmar Dollar-MYD, the newly emerged cryptocurrency, which is intended to counter the junta’s grip on Myanmar Kyat. This is one of the facets of the revolution against the coup. Unlike A-May Suu Token, a crypto token that emerged after the...
The International Labour Organization (ILO) estimated that some 1.6 million jobs were lost in Myanmar in 2021 with the military takeover compounding the impact of the COVID-19 pandemic. Among the population impacted by the weakened labour market, women workers were hit most. Working hours are estimated to have decreased 18 per...
Major Japanese retailer Aeon has decided to postpone its $180 million shopping mall project in Myanmar due to the political turmoil in the country, according to NHK reports. Aeon planned to start the construction process this year and expected to open the mall by 2023. The project is a joint venture...
Local gold price, which has skyrocketed reaching over K1.7 million following the coup by the military, now has dropped as much as K200,000 as the price decreased to around K1.5 million per tical (tical= 16.3 g). On May 26, the domestic gold market closed with K1.5 million per tical while...
အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် “If a problem arises, protect your valuable assets first,” says Mr. Christoph Vavrik, Managing Director of Myanmar Carlsberg, during an interview with Myanmar Business Today. “The most important asset in a company is not necessarily a brand or exploration rights for an oil company or real estate....