The Irrawaddy Magazine | Archive | BUSINESS | 8
Yoma’s Serge Pun Sees Long Road to ASEAN Integration

Serge Pun, owner of conglomerate Yoma Strategic Holdings, says Asean needs to work exceptionally hard to realize a balanced, EU-style integration of its disparate economies.

New Property Tax Expected to Spur Demand for Low-end Real Estate

The government will introduce reduced property tax rates next month, in particular for lower-value property, a move that will spur demand in this market segment.

Burma to Seek Development Assistance for Airport Project

The government is now in negotiations with four different firms who want to build a $1.5 billion airport in Pegu Division to serve Rangoon.

Electricity Rate Hike Could Hurt Competitiveness, Raise Consumer Prices

Business sector representatives warn that the April 1 electricity price hike will undercut competiveness of Burmese industries and drive up consumer prices.

Stock Market on Track, but Hurdles Remain

Much remains to be done before Myanmar launches Asia’s newest stock exchange in late 2015

The Burma-China gas pipeline is running at below 20 percent of capacity, Japanese firms show interest in Thilawa, and Burma’s jade earnings are up.

Malaysian Firms Eye Construction Prospects in Burma

Malaysia, ranked as the seventh-biggest source of foreign investment into Burma, is looking to further boost its corporate presence in the fellow Southeast Asian nation.

Burma’s Log Export Ban to Hurt Businessmen But Help Forests

The country still has some of the largest forests in Asia, despite the former military regime’s reliance on raw timber exports.

Burma Infrastructure Projects ‘At Risk’ From Political Uncertainty

Warning comes after the collapse of talks between the government and South Korea’s Incheon, which was named as the preferred builder for a massive new airport to serve Rangoon.

Burma President’s Order Allowing Small Gifts Met With Derision

Opposition politicians say Thein Sein should demand zero corruption after an order to ministries said gifts worth less than $300 were not considered corrupt.

Health, Loan Insurance Coming to Burma This Year

Burma’s insurance industry will begin providing currently nonexistent health and credit guarantee insurance policies in the 2014-15 fiscal year, according to state-run Myanma Insurance.

After Snubbing Loan, Burma Awaits China’s Response on Road Link

Naypyidaw awaits Chinese reaction after it turned down a loan to develop a highway between Kyaukphyu industrial zone on Burma’s west coast and southwest China.

EU to Start Investment Pact Talks With Burma This Week

The EU will launch negotiations this week for an investment pact with Burma, a deal aimed at giving European firms preferential access to the country.

Yoma in hotel deal with a Hong Kong firm, plans for an Arakan-to-China road and rail link are finalized, and AirAsia gives to Suu Kyi’s foundation.

Burma Tax Department Says 2,500 Tax-Evading Firms Named in Error

The Internal Revenue Department is forced to revise its list of offenders who have not paid their taxes for the 2012-13 fiscal year.

Burma Govt Plans 30,000 New Affordable Homes in Rangoon

The central government and regional authorities plan more low-cost housing as inflated land prices bar many Burmese from owning homes in the former capital.

New Bids Force Further Delay for Burma Airport Work: Official

Work on the US$1.1 billion Hanthawaddy International Airport in Burma faces additional delays because of “a major change in project policy,” a government official says.

Singapore-Listed Yoma Expands Into Coffee in Burma

Yoma Strategic Holdings plans to plant what could become the biggest coffee plantation in Burma, hoping the frontier economy can develop a strong coffee industry.

Burma’s government talks about using “unconventional exploration” for onshore oil and gas, and a report says hydropower is still the government’s best bet for energy.

Over 10,000 Companies Called Out for Evading Tax Collectors

Thousands of local companies in Burma are urged to contact the government after failing to pay taxes for the 2012-13 fiscal year.