ASEAN KEY DESTINATIONS
Hope for Myanmar’s economic growth just a few days away
The opening of the Yangon Stock Exchange (YEX), on 9 December, and hope for Myanmar’s economic growth is just a few days away and over 90% of all the preparatory work for it has been completed so far. It will start trading with about ten domestic public companies.
Thura Swift Co. Ltd. CEO Dr. Aung Thura said, “Though there will be 10 listed public companies in the market, not all of these ten companies will be there at the initial stage. Not all of them will sell their shares on the first day of business. They can sell their shares only after six months from the commencement of business. On the first day, there will be only one or two companies, I think. Some of them are well-established companies so they will have goodwill and credibility.”
Among the companies on the very first day of trading are FMI Public Company, Myanmar National Bank, and Thilawa Public Company.
Myanmar National Bank Administrative Director Myint Win said, “We believe our share prices will rise when our shares are traded on the Yangon Stock Exchange”.
Myanmar National Bank has been paying dividends to shareholders for the last 20 years.
“As for the liquidity, our bank is owned 30% by the government and 70% by the public and we fulfil all banking requirements and we have enough reserve money. These are the guarantees for the liquidity of our bank,” he added.
In the first phase of Thilawa special economic zone in Yangon, 70% of all available land and plots are occupied and run by about 50 companies from 13 countries including Japan. Thilawa Public Company has over 16,000 shareholders and as a public company is ready to trade their shares on the Yangon Stock Exchange.
Chairman of Thilawa Public Company Ltd. Win Aung said, “We are doing all the preparatory work for easily trading our shares in the market in accordance with rules and regulations. We will be ready to trade our shares when all of our preparatory work has been completed. “
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