THE Yangon branches of OCBC Bank and United Overseas Bank (UOB) have extended a US$44 million green loan to Myanmar’s Shwe Taung Group. Close to US$30 million of the loan came from OCBC, while UOB provided the balance, according to a joint statement by OCBC and Shwe Taung on Wednesday. The Myanmar conglomerate’s subsidiary, City […]
Navigating Myanmar’s New Business Landscape
November 7, 2016 by
SINGAPORE (Nov 1): As Myanmar undergoes a democratic transition, three trends are emerging from its new investment landscape under the new government, says OCBC in a report, This includes the Myanmar Investment Law which could be a game changer for businesses, both foreign and local. The first trend analyst Terence Wu notes is that manufacturing […]
Frontier Markets: Myanmar, Explosive GDP Growth
March 11, 2016 by
The reason I’m revisiting Myanmar is because recently the State Bank of India (SBIN), together with the Vietnam Bank for Investment and Development, Taiwan’s E SUN Commercial Bank (2884:TT), and South Korea’s Shinhan Bank, were all granted permits to operate in that country. Last year, the first round of permits were granted to ANZ Banking […]
Maybank to help Myanmar firms raise regional capital
October 7, 2015 by
Maybank will offer a number of services in Myanmar including project finance and corporate lending, said Pollie Sim, CEO of international business at the Malaysian bank. It will also be willing to help companies raise capital through regional equity or debt markets, she said at the launch of the bank’s Myanmar branch office on October […]
Singapore is Myanmar’s third largest trading partner
July 8, 2015 by
Singapore was Myanmar’s top overseas investor in 2014, accounting for more than half of the over US$8 billion in total inflow, which had doubled from US$4 billion in 2013, according to a report in the China Post on 6 July. The information was given by Singapore’s Deputy Prime Minister Teo Chee Hean who added that […]
OCBC, UOB banks open branches in Myanmar
July 3, 2015 by
YANGON: Singapore banks OCBC and UOB officially opened branches in Myanmar on Thursday (Jul 2), becoming some of the first foreign banks to set up operations in the emerging economy. Singapore’s Deputy Prime Minister Teo Chee Hean, who was present at the banks’ opening ceremonies in Yangon, said the economic partnership between the Republic and […]
For foreign lenders, Myanmar is no zero-sum game
June 1, 2015 by
SINGAPORE – A Foreign bank setting up a branch in Yangon must take its first step together with eight other lenders, all eager to tap a country that has been in isolation for more than 50 years. But international lenders noted that co-operation, not direct competition, will serve the greater good for now. “Competition among […]
Banks on charm offensive in Myanmar
May 26, 2015 by
FOREIGN banks venturing into Myanmar are expected to flex their muscles by investing in, and advising, the fledgling local financial market – and that includes efforts to lift standards of local bank staff. The charm offensive in recent years cannot be underestimated. Besides proving long-term commitment to this frontier market, international lenders need the blessings […]
