The International Monetary Fund (IMF) on June 26 approved a disbursement to Myanmar equivalent to US$118.8 million under its Rapid Credit Facility (RCF) and a purchase equivalent to $237.7 million under its Rapid Financing Instrument (RFI). This will help meet the country’s balance-of-payments and fiscal needs arising from the COVID-19 pandemic and support the government’s […]
Read MoreMyanmar is expecting a budget deficit of K6.8 trillion in fiscal 2020-21, or 5.4 percent of the GDP, according to the Finance Commission chaired by President U Win Myint. According to the Finance Commission’s estimates revealed at a meeting on June 22 in Nay Pyi Taw, national revenue will total K27.8 trillion in fiscal 2020-21, […]
Read MoreSINGAPORE (THE BUSINESS TIMES) – Yoma Strategic on Wednesday (June 24) proposed to increase its existing shareholding and take a controlling interest in mobile payments firm Digital Money Myanmar (Wave Money) via a US$76.5 million (S$106.2 million) deal. The Myanmar-focused, mainboard-listed company intends to first restructure the holding of its interest in Wave Money, by […]
Read MoreYoma Strategic on Wednesday (June 24) said it would acquire a controlling stake in Wave Money, one of Myanmar’s leading mobile payment companies, for US$76.5 million. Under the deal, Norwegian Telenor Group will sell its existing 51 percent stakes to Yoma MFS Holdings (Wave Holdco), a company established with $25 million capital from Singapore-listed Yoma […]
Read MoreThe Myanmar economy is expected to grow at just 1.8 percent in 2020, according to updated forecasts by the Asian Development Bank (ADB), released June 18. In its initial forecast in April, the ADB had expected GDP growth in Myanmar to be 4.2pc. The country expanded at 6.8pc in 2019. The ADB revised its forecasts […]
Read MoreThe COVID-19 pandemic shows that corporate governance is vital for Myanmar businesses to manage risks and improve their access to capital, as an increasingly unpredictable environment demands access to capital and loans. Companies around the world experience serious disruptions to their operations, liquidity and customer engagement. However, firms with modern corporate governance procedures are likely […]
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