Myanmar Quarterly Bulletin (Q4 October - December 2019)

14 January 2020

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Banking & Finance

Myanmar microfinance institutions to comply with Directive on Customer Due Diligence for Anti-Money Laundering and Combating the Financing of Terrorism

Central Bank of Myanmar announces new round of foreign bank licensing

Corporate & Commercial

Myanmar mandates disclosure of beneficial ownership from 1 January 2020

Myanmar Stamp Act amended to reduce penalty for late or insufficient payment of stamp duty 

Singapore investors enjoy greater protection in Myanmar under new bilateral investment treaty

Myanmar Union Tax Law 2019 amended to provide conditional tax amnesty 

Intellectual Property

Myanmar’s new Trademark Law 2019 to come into force in 2020

Deals

US$8 million equity investment for a majority stake in Myanmar Golden Eagle Company Limited and Myanmar Golden Glass Company Limited by Osotspa Public Company Limited

Joint venture between Kanbawza Group and PTT Public Company to develop oil terminal and expand retail business in Myanmar

Acquisitions and establishment of joint ventures in Myanmar insurance sector

Awards & Rankings

Allen & Gledhill (Myanmar) ranked top tier in Chambers Asia-Pacific 2020