Shareholders ask bus company to buy back shares

Some 200 shareholders of bus service operator Yangon Urban Public Transportation Company (YUPT) are calling on the Yangon Region government to buy over their shares in the company. This comes after a shareholder uprising over the company’s lack of profit and leadership selection disrupted YUPT’s annual general meeting in late October. Last weekend, YUPT began […]

Public-Transport Company’s AGM Disrupted by Shareholders

The Yangon Urban Public Transportation Company’s (YUPT) annual general meeting on Wednesday was disrupted by a shareholder uprising over a lack of profit and leadership selection. YUPT, in which the Yangon Region government invested K35 billion, operates 19 bus lines under the Yangon Bus Service (YBS) and has 1349 buses. The company’s second annual general […]

Yangon gov’t makes losses in bus services: Auditor General

Yangon Region government took a loan of Ks-eight billion from Ayeyarwady Bank as it had no sufficient money to buy 1,000 new buses, according to an audit report submitted by Khin Than Hla, Yangon Region Auditor General for 2016-2017 fiscal year, at the session of Yangon region parliament on September 14. On behalf of Yangon […]

Despite High Operating Costs, CEO of Yangon’s New Bus System Remains Optimistic

YANGON— Dubbed one of the first big reforms made by the National League for Democracy government in Myanmar’s financial hub Yangon, a new public transport system known as the Yangon Bus System (YBS) will turn one next month. The new system was aimed at replacing the former capital’s old bus service—the Rangoon Motor Vehicles Supervisory […]

Yangon bus committee plans PPP transformation to operate new lines

The Yangon Region Bus Control Committee is forming a public-private partnership (PPP) company and has applied to be one of several such firms that will run bus lines as part of an overhaul of the city’s public transportation system, committee chair U Min Zaw told The Myanmar Times. He said the new company will be called […]