Economy and commerce

Thai-listed firm Group Lease has brought a majority stake in BG Microfinance Myanmar, with plans to invest almost US$7 million into the business and ramp up the number of branches. Korean credit card firm Shinhan Card, meanwhile, is preparing to start its own microfinance services ...

B Grimm Power will postpone to next year its plan to list on the stock market because of a change in accounting standards, said company president Preeyanart Soontornwata. She said the new standards affected B Grimm Power’s plan for an initial public offering as it ...

Leaders meeting at the 28th ASEAN Summit in Vientiane on September 6 adopted the Master Plan on ASEAN Connectivity 2025. Lao Minister of Foreign Affairs Mr Saleumxay Kommasith, who is Chair of the ASEAN Coordinating Council that oversees connectivity matters for the regional body, said the Master ...

BCPG Pcl, the solar power unit of Thai oil refiner Bangchak Petroleum Pcl, could raise up to $170 million from an initial public offering this month, the company said on September 6. BCPG is planning to sell 590 million shares, or a 29.6 percent stake, ...

Myanmar’s beverage manufacturer, Loi Hein – in a joint venture with Japan’s Toyo Seikan Co Ltd – has set up steel cans production unit in the country. Meanwhile, the concession agreement for the Hanthawaddy International Airport project is expected to be signed in December 2016. Loi Hein ...

Bank of China, one of the five biggest state-owned commercial banks in China, will expand its operations in Cambodia by opening new branches in Siem Reap and Sihanoukville, a local bank executive said on September 6. Chen Chang Jiang, CEO of Bank of China Phnom Penh ...

Business leaders have expressed concerns that the rapidly appreciating baht could dampen exports and suggest business operators hedge foreign exchange risks. The monthly meeting of the Joint Standing Committee on Commerce, Industry and Banking on September 5 heard the disquiet over the increasing volatility of foreign exchange. ...

Banks have financed companies responsible for rainforest destruction in Southeast Asia to the tune of billions of dollars, a study showed on September 6, and called on lenders to stop “fuelling forest crime”. Southeast Asia is home to some of the world’s most diverse rainforests, but ...

Foreign banks are increasing their presence in Vietnam through various forms by establishing 100% foreign-owned banks or opening branches. With advantages of capital and services, once the Trans-Pacific Partnership takes effect, foreign banks will have more advantages in Vietnam. Meanwhile, domestic banks that are still undergoing ...

Prime Minister Prayut Chan-o-cha has asked Jack Ma to support Thai small and medium-sized enterprises as the Alibaba Group’s founder wants the country to export farm products to China and ASEAN through the group. Referring to their meeting in Hangzhou in the night of September ...