TODAY

Jovago makes contact with hotels in central Myanmar

THE Jovago network, a hotel booking website, has linked with 30 hotels in central Myanmar to help facilitate the accommodations for pilgrims and travelers in Magwe, it is learnt from Jovago.net.

Jovago made contact with the hotels in central Myanmar in order to offer cheaper prices to travelers. The price per night ranges from Ks3,000 to Ks500,000. Javogo jas linked with budget guest houses as well as five star hotels to offer a wide range of accommodations for its clients so that they can choose the accommodations as they wish.

Magwe, situated in central Myanmar, has become one of the more popular destinations for tourists. Travellers can explore the traditional culture and custom of Myanmar in Magwe and then proceed to other popular sites in Pakkoku, Bagan and Mount Popa.

Jovago aims at providing facilities that make it easier to find accommodation for tourists as well as local travellers, said Mr. Matthieu Bauduin, the Business Development Manager of Jovago.

Jovago is making an effort to expand its network nationwide. The company regularly negotiates with hotels to be able to offer the cheapest rates.

Ref: GNLM, 9 September 2016

Profit and loss statements of YSX listed companies to be released at end of fiscal year

The companies approved to trade shares at the Yangon Stock Exchange (YSX) will have to release statements of profit and loss so that those who want to purchase their stocks can make intellectual investments, according to an announcement released by the Securities and Exchange Commission of Myanmar.

Currently, the three approved companies – First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holding and Myanmar Citizens Bank (MCB) are trading their stocks at YSX. Seven companies are listed to trade at YSX.

The rise in stock trading is expected to reduce the country’s inflation rate. Private companies are also making a concerted effort to enter YSX, said a business man.

The prices of shares were Ks20,000 per unit of FMI and Ks43,000 per unit of MTSH at the end of August. The price of FMI shares was Ks19,000 per unit whereas MTSH is Ks43,000 per unit on 8^th September. On the same day MCB shares fetched Ks9,400 per unit. MTSH shares are stable but the shares of FMI and MCB have change of Ks500-600, according to Yangon Stock Exchange Website.

Ref: GNLM, 9 September 2016

Money Order Service of Myanmar Post office to use electronic technology

MONEY Order Service of Myanmar Post office under the Ministry of transport and communications wil turns to electronic technology.

The Myanmar postal service aims to offer its Money Order Service Electronic system to 18 townships in 74 divisions and states. There are 1,385 post offices in Myanmar and among them, 780 post offices have money transferring services, it is learnt from U Thaung Naing Soe, the manager of the Myanmar post office. There are three types of money transferals – manual, by fax (phone) and now electronically (online). In 390 post offices, fax and mobiles phones are available to the public for the Express Money Order Service (EMOS) system, add U Thaung Naing Soe.

Ref: GNLM, 9 September 2016

IFC to invest US$10billion in Myanma Awba Group

INTERNATIONAL Finance Corporation (IFC), a member of world band Group, entered into an agreement to make an investment to make an investment of US$10billion in Myanma Awba Group, it is learnt from a signing ceremony held on 6^th September at Hotel Novotel, Yangon.

The Investment provided by IFC will be spent on the Hmawbi Agricultural Input Complex, which will manufacture crop protection chemicals. The investment will ensure that the manufacturing processes will be eco-friendly with good practices observed and in accordance with the environmental criteria set by the World Bank Group.

Among the crop protection products manufactured by the plant will be Suspension Concentrate-SC, a formulation that will be effective in protection form pests and insects, it is learnt.

This plant will create 500 jobs and the production by the plant is expected to be able to provide crop protection products for 3 million farming families.

Ref: GNLM, 9 September 2016