Articles
28
Feb
2019
How to Best Split a Myanmar Insurance Company in a Life and a Non-Life Corporate Entity?
Most of the insurance companies which Myanmar has licensed since the liberalization of the sector to the local, private sector in 2013 are actually composite insurance companies. Highlights of this note Life and Non-Life entities may not hold shares in each other Form one, not two new entities How to transfer the Life business to […]
6
Feb
2019
CBM allows foreign investments in Myanmar banks
Since the implementation of the new Myanmar Companies Law (“MCL”) in August, the so-called 35% rule has been subject to interpretation by each government Ministry. Slowly, we have been seeing updates from Ministries on whether they will allow 35% foreign shareholding in various sectors. On 29 January 2019, the Central Bank of Myanmar (“CBM”) issued […]
31
Jan
2019
Bank Fees Now Included in Interest Cap (VDB Loi Insights)
Following the recent directive of the Central Bank of Myanmar (the “CBM”), , interest rate caps of 13% and 16% shall apply for secured loans and unsecured loans,. The Directive provides that “the maximum interest rate … includes all other fees collectible in lump sum or in partial payments such as guarantee fees, management fees…
29
Jan
2019
Bank Fees Now Included in Interest Cap
Following the recent directive of the Central Bank of Myanmar (the “CBM”), , interest rate caps of 13% and 16% shall apply for secured loans and unsecured loans,. The Directive provides that “the maximum interest rate … includes all other fees collectible in lump sum or in partial payments such as guarantee fees, management fees […]
29
Jan
2019
Insurance Update: Request for Proposal and Invitation Letters for Expression of Interest issued by Financial Regulatory Department
RfP for licenses to carry on life insurance business in Myanmar as 100% foreign company As reported earlier by VDB Loi, (read here: http://www.vdb-loi.com/mlw/myanmar-opens-up-insurance-sector-to-foreign-investors/) when a foreign life insurer wishes to obtain an individual license in Myanmar, it is required to submit a proposal in response to a Request for Proposal (the “RfP”), issued on […]
30
Nov
2018
PFI: “Myanmar Reforms Sparks Major Projects Pipeline” (VDB Loi Insights)
Energy and Infrastructure Team PFI: “Myanmar Reforms Sparks Major Projects Pipeline” Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects.
28
Nov
2018
Online registration of mortgages and charges becomes operational on MyCO
As of late last week, online registration of mortgages and charges on the new electronic companies’ registry system, Myanmar Companies Online (“MyCO”) has become operational. This is achieved using the prescribed ‘Form H’ to comply with the statutory requirements under Section 229 of the Myanmar Companies Law 2017 (“MCL”), whereby Myanmar companies are required to […]
30
Sep
2018
How the New Companies Law Affects Group Financing Transactions
Myanmar Companies Law 2017 (“MCL”) has introduced a special corporate approval procedure for “related party transactions” into the Myanmar legal system. While such type of transactions are often subject to particular scrutiny under corporate governance laws in many jurisdictions, there are a number of peculiarities to be followed under the MCL, and they are summarised […]
28
Feb
2018
LNG to Power, Condo Rule Changes and New Compliance Rules (VDB Loi insights this month)
On 30 January 2018 the Ministry of Electricity and Energy (MOEE) held a ceremony in NayPyiTaw to sign four so-called “Notices to Proceed”, each one for a planned LNG or Gas to Power project, in total nearly 3,000 MW.
19
Feb
2018
Myanmar Progress Report (2017-2018)
As in previous years, we like to update our clients at the beginning of each year on the progress we made as a firm in the previous year.
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