A labor dispute between the contractor and construction workers of the US$600 million Yoma Central mixed development project in downtown Yangon has been resolved, with all workers paid in full and issues regarding social security clarified with the authorities, Serge Pun, chair of Yoma Group, told the Myanmar Times. Around 2000 construction workers took to […]
Corporate dynasties join forces to defy Myanmar market gloom
December 4, 2019 by
The Pun corporate empire has secured the support of a fellow Southeast Asian business dynasty, signalling their confidence in the future of Myanmar despite the ineffectual economic reforms and uncertain fallout from the Rakhine crisis. Serge Pun says Asian companies still see value in Myanmar and are “smarter” than their Western competitors. Ayala Corp, a […]
Myanmar’s Path to Trade War Gains Blocked by $120 Billion Hole
November 25, 2019 by
Myanmar faces major infrastructure obstacles as it tries to attract manufacturers seeking alternative locations to China, according a leader of its business community. Aung San Suu Kyi’s government should prioritize reliable electricity and shorter transport times to woo factories as the U.S.-China trade war shifts global supply chains, said Zaw Min Win, president of the […]
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 […]
YCDC blog: New Yangon City Phase 1 Resettlement Process Updates
October 29, 2019 by
NYDC’s Role in the Resettlement Process Dear Friends, The land resettlement of the New Yangon City is the first major milestone task for NYDC. New Yangon City Phase I project employs a pioneering resettlement model and process in Myanmar; first of its kind in the country. Creating a fair and transparent process and balancing it […]
Myanmar stocks surge on hope of foreign funding
September 18, 2019 by
Expectations are growing for an influx of foreign investment into Myanmar two months after local authorities said they would lift restrictions to allow overseas investors to trade shares of locally listed companies. The Myanmar Stock Price Index or Myanpix surged 10% in August, despite the turmoil in global markets, on such expectations. Indeed, local investors […]
NYDC Blog: The Completion of New Yangon City Master Planning
July 24, 2019 by
CEO’s Weekly Blog – 23 July 2019 The Completion of New Yangon City Master Planning Dear Friends, The master planning for New Yangon City was recently completed by AECOM, which identified the most efficient land use planning and built environment. This included infrastructure, economic development, environmental planning, transportation planning, social and cultural planning. AECOM was […]
Why is Serge Pun betting on tourism?
April 25, 2019 by
Tourism has borne the brunt of an economic slowdown and the international outcry over Rakhine, but one tycoon is feeling bullish about the industry. By BEN DUNANT | FRONTIER “TOURISM is low-hanging fruit in any country looking to develop,” says Mr Serge Pun, puffing on a cigar in the headquarters of Memories Group, a company […]
How NYDC Develops New Yangon City Sustainably
April 11, 2019 by
NYDC CEO’s Blog: How NYDC Develops New Yangon City Sustainably Dear Friends, For the scoping of the environmental study perimeter for New Yangon City project, the NYDC team has conducted several discussions with relevant specialists and officers from the Ministry of Natural Resources and Environmental Conservation (MONREC) – Environmental Conservation Department (ECD) since mid-2018. During […]
