Business

3 Japanese factories open in Thilawa

Three Japanese factories in Thilawa Special Economic Zone Part A have opened, according to Myanmar-Japan Thilawa Development Limited.

Car radiator, industrial waste management and electronic factories have started operating.

“Thirteen countries will invest in Part A of Thilawa SEZ. Out of them, three factories from Japan have already started operating,” said a source at the consortium.

Most of the site is under construction by the Panter-Suntac Company, a joint venture from Myanmar and Japan.

Fuel prices remain high

 

Construction begins on Mahabandoola rental housing project

Yangon—Construction on the Mahabandoola rental housing project has begun in South Dagon Township this month, sources say.

The regional government granted contracts to 26 local construction companies, including the Myanmar Land and Development Company, Advanced Global Technologies Construction, Manaw Ayeyar Construction, Khine Yati Company and Kyae Myint Mo Company, to implement the project in early January.

Thilawa SEZ share prices rise

The price of Thilawa Special Economic Zone shares has increased from Ks 10,000 (US$7.6) to Ks 80,000 per share, according to figures calculated on January 26.

The shares became available for subscription in March 2014 at Ks 10,000 per unit on the pro rata system. The prices rose to Ks 40,000 after the SEZ opened and have now reached Ks 80,000 per unit.

The Thilawa SEZ is also registered in the Yangon Stock Exchange. Share subscription for the SEZ stocks will be available only at the stock exchange once it opens in March 2016.

Singapore tops hotel industry investor list

Singapore topped the list of foreign countries with investments in Myanmar’s hotel sector with a total investment of US$1.514 billion, according to the planning department of the Ministry of Hotels and Tourism.

Singapore invested in 21 hotel projects in the country. The next top investors include Vietnam with $440 million and Thailand with more than $340 million.

Asian countries contributed the largest share of investments with $2.6 billion, followed by the UK, Luxembourg and the UAE with $17 million.

Low-quality electrical wiring threatens Yangon markets

Yangon—Markets in Yangon under the management of the Yangon City Development Committee (YCDC) function poorly because they rely on low-quality electrical appliances, said Khin Hlaing, a member of YCDC.

“The electric wiring is connected unprofessionally. If you don’t believe me, go and check yourself. They don’t use high-quality products at the markets. The wiring in the markets is tangled. We cannot say whether there will be more fire outbreaks at the markets,” he said.

Telenor struggle to renew SIM cards

Telenor users have reported experiencing difficulties swapping their SIM cards with newer SIM cards that use more advanced technology.

Telenor Myanmar is allowing users to swap their SIM cards until March 31 at Telenor shops, which are open from 9am to 5pm daily.

Many Telenor users have queued to swap their SIM cards though many of them have not succeeded in obtaining new SIM cards.

Telenor struggle to renew SIM cards

Telenor users have reported experiencing difficulties swapping their SIM cards with newer SIM cards that use more advanced technology.

Telenor Myanmar is allowing users to swap their SIM cards until March 31 at Telenor shops, which are open from 9am to 5pm daily.

Many Telenor users have queued to swap their SIM cards though many of them have not succeeded in obtaining new SIM cards.

Telenor struggle to renew SIM cards

Telenor users have reported experiencing difficulties swapping their SIM cards with newer SIM cards that use more advanced technology.

Telenor Myanmar is allowing users to swap their SIM cards until March 31 at Telenor shops, which are open from 9am to 5pm daily.

Many Telenor users have queued to swap their SIM cards though many of them have not succeeded in obtaining new SIM cards.

Singapore tops foreign investor lists

The country’s foreign direct investment (FDI) reached nearly