Myanmar UMG group invests in Indonesia’s SocialBuzz

JAKARTA — UMG Idealab, the early-stage venture capital arm of Myanmar conglomerate UMG group, has invested in SociaBuzz, an Indonesian online marketplace that connects businesses or individuals with social media influencers, creators and other kinds of talent. The size of the deal could not be ascertained. SocialBuzz will use the capital to expand its line […]

UMG Idealab invests in Myanmar’s Zay Chin, Indonesia’s Moodco

UMG Idealab, the early-stage venture capital arm of Myanmar trade conglomerate UMG Group, has added two new companies to its portfolio after closing investments in Yangon-based online grocery delivery startup Zay Chin and Indonesian chocolate-maker Moodco last month. The VC firm did not disclose the size of the investments but said both were seed-stage deals. […]

Iconic European Car Brands Open Service Centres in Yangon

​​ Myanmar Mini and Volvo own­ers can now rest easy knowing where to next book their high per­formance vehicles in for a service after the two icon­ic European car brands launched official service centres in Yangon. The launch of the offi­cial Mini service centre by Mini’s Myanmar partner, Prestige Automobiles, means owners of the icon­ic […]

Indonesia Wijaya Karya team up with UMG to explore Myanmar

Indonesian publicly listed construction company PT Wijaya Karya will set up a joint venture company with Myanmar’s United Mercury Group (UMG) to help expand its business overseas. Wijaya Karya foreign affairs department manager Destiawan Soewarjono said on Thursday they would construct a precast factory and work on big infrastructure projects in Myanmar through the joint […]