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Business

TCM in Myanmar car deal

PETALING JAYA: Tan Chong Motor Holdings Bhd (TCM) is going to invest US$50mil in Myanmar to set up an assembly plant and showroom for Nissan cars, confirming earlier reports.

Business

APM Automotive gets Myanmar nod to set up plant

KUALA LUMPUR: APM Automotive Holdings Bhd has received the nod from Myanmar Investment Commission (MIC) to set up a plant to manufacture and market car parts and modules in the 12ha industrial area of Bago Region under the name of APM Auto Components Myanmar Co Ltd.

Business

Four Thai banks vi for licences in Myanmar

Thai banks with representative offices in Myanmar have a strong interest in applying for restricted-services licences, after that country recently opened up for such applications from foreign banks for the first time.

Corporate News

Grab to invest US$100m in Myanmar as smartphone use surges

SINGAPORE: Grab, Southeast Asia’s biggest ride-hailing app, plans to invest $100 million in Myanmar as it extends its battle with Uber Technologies Inc. to capture exploding use of smartphones.

Business

Daibochi to invest RM29m to expand into Myanmar

KUALA LUMPUR: Daibochi Plastic and Packaging Industry Bhd will invest USD6.8mil (RM29mil) to set up a joint venture company in Myanmar to tap into the growing consumer packaging market there.

Business

Box-Pak leases Myanmar land to set up plant

PETALING JAYA: Box-Pak (M) Bhd has entered into a long-term lease agreement with Myanmar Japan Thilawa Development Ltd (MJTD) for a plot of land in Yangon as the company seeks to set up its first plant in Myanmar.

Corporate News

Kian Joo’s subsidiary Box-Pak to set up plant in Myanmar

KUALA LUMPUR: Corrugated carton box maker Box-Pak (M) Bhd, encouraged by the opening of Myanmar’s economy, plans to set up a manufacturing plant in the republic.

Business

Open but not trading: Myanmar launches fledgling bourse

YANGON: Myanmar officially launched its first modern stock exchange on Wednesday, but without a single stock to trade, as the nation’s latest drive for economic revitalisation struggles to take flight.

Business

Myanmar salt prices soar amid China panic buying

YANGON, Myanmar: Prices of iodized salt in Myanmar's biggest cities have tripled amid a wave of panic buying in neighboring China, where worried shoppers are buying up stocks due to fears of fallout from Japan's nuclear crisis, media reported Sunday.

Business

Parkson unit in Myanmar joint deal

PETALING JAYA: A unit of Parkson Retail Asia Ltd, a 67.61% subsidiary of Parkson Holdings Bhd, has entered into an agreement with two companies to form a joint-venture company for the purpose of establishing and operating department stores in Myanmar.