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Intl shipments in Yangon highest in decade

The number of international shipments at Yangon port has doubled within one year, the highest volume in a decade, according to Myanmar Port Authority.

In the fiscal year 2012-13, a total of 2,196 shipments were called at business hub of Yangon. This amount has doubled up if compared with 951 shipments during 2002-2003, their reports said.

If we compare now with ten years ago, the number of shipment to the port has been doubling annually. It is 100 per cent growth every year, an official from Myanmar Port Authority said.

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Aussino Plunges after Singapore Bourse Rejects Deal with Burma-Linked Firm

SINGAPORE Shares of Aussino Group plunged by more than half after the Singapore Exchange rejected its application for a S$70 million (US $57 million) reverse takeover deal with a company linked to a Burma tycoon who is on the US sanction list.

Aussino shares fell as much as 58 percent to S$0.071, the lowest since June last year, after a trading halt was lifted. Nearly 114 million shares were traded, 19 times the average full-day volume over the past 30 days.

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Burma Business Roundup (Saturday, April 27)

Burma Plans New Oil Refinery, Thailand Frontrunner for the Job

Thailands state-owned oil company PTT Group has reportedly been invited by Burmas Ministry of Energy to refurbish and operate for profit one of the countrys three ageing refineries.

Neither side has identified which refinery is involved but the report, in Bangkoks The Nation newspaper, coincides with a separate report inside Burma that the ministry is seeking foreign and local investors to build a small new refinery of about 50,000 barrels per day capacity alongside the old refining plant at Manntanpayarkan in Mandalay Division.

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British and Chinese joint venture to build a hotel in Yangon

Myanmar Investment Commission (MIC) approved on Wednesday a new hotel construction project in Mingaladon township which will be funded by UK and Chinese companies, according to a report of the Directorate of Investment and Company Administration.

Tristate Myanmar Co Ltd, a joint venture of British Virgin Island RS Broad Ease Limited from UK and Winner Wealth Limited from China, will set up a hotel and a serviced residence in Pyinmabin Industrial Zone in Mingaladon township of suburban Yangon, the report said.

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CNPC denies firing workers on Maday Island

Speaking to Mizzima on behalf of state-run China National Petroleum Corporation (CNPC), the Secretary to the Chinese Ambassador in Yangon, Xiong Guofeng, said that the company did not force workers at its pipeline plant on Maday Island to sign a pledge saying they would not participate in Thursday’s demonstration, and furthermore that they did not dismiss more than 50 workers who refused to do so.

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