Myanmar Metals (MYL) has executed a binding agreement to acquire a 100 percent interest in two exploration licenses (EL) at the Wuntho Project. To acquire the 100 percent interest, Myanmar Metals will pay $4 million to shareholders of Myanmar Reserves Development Company (MRD). This sum will consist of $400,000 in cash and $3.6 million worth […]
Myanmar Airways International appoints Airline Rep Services
September 22, 2020 by
Myanmar Airways International (MAI), an international airline operating in Myanmar, has appointed Airline Rep Services, a division of CVFR Travel Group as its GSA for Australia & New Zealand and will be effective 1st September 2020. Saravanan Ramasamy, CEO, Myanmar Airways International said that “We welcome the appointment of Airline Rep Services as our GSA […]
Future of Myanmar’s ICT Industry: an interview with Huawei Myanmar’s CEO
July 21, 2020 by
Myanmar as a fast developing nation is seeing rapid advancments in many fields, particular that of the ICT industry. With consecutive skyrocketing internet and digital consumption rates year after year, technological developments in the digital information and communication sector is key to sustaining Myanmar’s growth. Below is the interview session by Eleven Media Group’s Editor-In-Chief […]
Block A-6: Getting the deal done
February 4, 2020 by
The government’s need to secure new supplies of natural gas and a desire to send a positive signal to investors has likely helped a consortium including Total, Woodside and MPRL negotiate favourable fiscal terms to develop the A-6 block. By THOMAS KEAN | FRONTIER A RECENT deal between the government and a private consortium to […]
Myanmar Startups Receive Investor Funding to Expand
November 29, 2019 by
Kone Si, a Yangon-based on-demand trucking start-up, has received a six-digit sum investment for nationwide expansion from Yangon Capital Partners (YCP), a Myanmar-focused venture capital under Trust Venture Partners, a local financial advisory firm, and Nest Tech, Vietnam-based venture capital company. This is the second round of investment for Kone Si after it initially received […]
The Rise and Fall of an Australian Media Mogul in Southeast Asia
November 20, 2019 by
ROSS DUNKLEY was thinking of quitting journalism when he met Rupert Murdoch, a fellow Australian, on a friend’s yacht off the coast of Rhode Island during the America’s Cup boat race in 1983. He had grown tired of working for other people in a newsroom; he wanted to return to his family roots and become […]
Yoma Shares Surge on $238m Capital Tie-Up with Ayala
November 19, 2019 by
The move is designed to strengthen Yoma’s core businesses in Myanmar’s rapidly growing economy. According to a statement released on Thursday morning, Ayala will invest up to $237.5 million in Singapore-listed Yoma as well as Yangon-listed First Myanmar Investment, taking a 20% stake in each company, both of which are controlled by Myanmar tycoon Serge […]
DHL Scales up Operations in Myanmar with new Warehouse
November 18, 2019 by
DHL Supply Chain, one of the global market leaders for contract logistics solutions, announced the opening of its first multi-user warehouse in Myanmar, last week. The company has invested approximately K1.58 billion (€1 million) in the facility located in Dagon Seikkan Industrial Zone in Yangon, and is targeting to add more than 200 full-time employees […]
As remittance market reaches saturation, mobile money keeps growing
November 15, 2019 by
If the mobile money market were a football match, then the second half has just begun. As the undisputed market leader, Wave Money is already a few goals ahead. It reports having almost 50,000 agents and more than 11 million customers, who remitted US$2.8 billion between January and September of this year. By the end […]
