The Central Bank of Myanmar announced on 16 March 2020 that it is revoking the banking licence of locally incorporated Asia Yangon Bank Ltd (AYB). The central said in its announcement that the revocation is for “breaching the country’s existing laws” but did not provide any further details on the matter. The central bank has taken over […]

Myanmar Treasure Hotel & Resort Group Co Ltd and Singapore-listed Banyan Tree Holdings signed a joint venture agreement to carry out a hotel management business in Myanmar. The firms will incorporate a new company in Singapore under an S$100,000 initial capital, 50:50 shareholding structure, which, in turn, will set up a subsidiary in Myanmar. By […]