Quarterly Business Magazine

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Operation of Crude Oil Pipeline to China Hampered by Slow Progress in the Seaport

Nay Pyi Taw – Although the construction of Shwe crude oil pipeline is 80 percent finished, the unfinished building of a small deep sea port in Kyaukphyu to accommodate oil from the Middle East—and thus the connection between the port and the pipeline to China—is hampering the operation of the...

Natural Gas Price for Export Declined

Yangon – According to the Ministry of Energy, the price for exported natural gas declines due to the low gas price in the global market. Currently, the wellhead price for 1 million cubic feet of natural gas is only US$ 5 million. The pipeline and distribution price is also declining. “We could sell...

Aviation Sector Brings Revenue of US$ 31 Million in First Quarter

Yangon – According to the Ministry of Transport, the aviation sector earned US$ 31 Million abroad in first quarter of FY 2014-2015. Flyover rights payment accounts for 80 percent of that revenue, which totaled US$ 31.036 million till the beginning of July. Domestic revenue from the aviation sector...

Facing Competition, Private Banks Reduce Service Fees

Yangon – In an environment becoming increasingly competitive, local private banks have reduced their banking service fees to order to gain more market share. Starting on October 2 nd , Kanbawza Bank, which has the most branch offices in Myanmar, reduced its fund transfer charges by 50 percent...

Yangon Will Need Extra 300 MW in Two Years for New Condo and Residences

Yangon – To accommodate Dagon City and other incoming condos and residence apartments, Yangon will need additional 200 MW within two years, according to Yangon City Electricity Supply Board. Currently, the country distributes 1,688 MW of electricity nationwide and half of it (800 MW) is consumed by...

Nine Foreign Banks Authorized to Open Branch Office in Myanmar

Yangon – The Myanmar Government has allowed nine foreign banks to open branch office in Myanmar including two Singaporean banks that provided financial services between Myanmar businesses and foreign countries during the decade under the U.S. sanction. “We chose these banks based on how much they...

Bahan and Kamaryut Townships Preferred Residential Areas in Yangon for Foreigners

Yangon - According to surveys by House.com, more and more foreigners residing in Yangon are choosing to stay in Bahan and Kamaryut townships. These two townships are the favorites for foreigners while some others want to stay in Mayangone Township and downtown areas, the surveys show. “Foreigners...

Yangon New Town Plan Halted

Yangon – Yangon regional government has stopped Yangon New Town project located in the western part of Yangon region, according to U Hla Myint, Mayor of Yangon. Although the mayor stated in the regional assembly that the project had been postponed, when meeting with the media after the assembly, he...

Telenor to Start Selling SIM Cards on September 27th

Yangon – Telenor Myanmar, one of the foreign telecoms operators, will begin selling its SIM cards starting in Mandalay on September 27 th . One week after the launch in Mandalay, the company will sell the SIM cards in Nay Pyi Taw, followed by Yangon another week later. “Why aren’t we launching our...

Major Companies Planning to Get Listed on Stock Exchange Once It Begins

Yangon – Major local companies owned by tycoons such as Max Myanmar, Shwe Taung, Kanbawza, and City Mart Holding Co., Ltd are planning to get listed on the Stock Exchange expected to break ground in October 2015, according to U Tin Myint, Executive Director at Myanmar Securities Exchange Centre Co...

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