Myanmar’s stock exchange far from reality
Myanmar is facing delays in establishing a stock exchange which was planned to launch by 2015, according to Koichiro Miyahara, senior executive officer of Japan Exchange Group Inc. which is assisting on the project.
“We’re pressed for time,” Bloomberg quoted Miyahara as saying. He added that the late approval of a capital markets bill by the Myanmar government has delayed the project, and it was up to the government as to how fast it can set up related organisations such as a securities regulator.
Japan Exchange and Daiwa Securities Group have been chosen in 2012 to help Myanmar set up a stock exchange. Myanmar’s President Thein Sein signed the Securities Exchange Law on July 31, 2013, half a year later than planned. This will shorten the time for developing the bourse by about a year, Miyahara said.
The government said it will begin working on infrastructure such as buildings and software for the bourse in 2014.
The Securities Exchange Law doesn’t say whether foreigners will be allowed to trade on the bourse. Jim Rogers, chairman of Rogers Holdings in Singapore, and Mark Mobius, executive chairman of Templeton Emerging Markets Group, are among investors who see opportunities in the country over time.
About 8 companies may be listed when the exchange opens, according to Shigeto Inami, managing director of Myanmar Securities Exchange Center, a joint venture between state-owned Myanmar Economic Bank and Daiwa Institute of Research Ltd., a unit of Japan’s second-largest brokerage. Two stocks, Myanmar Citizens Bank Ltd. and Forest Products Joint Venture Corp., are currently traded over the counter at the center, making them candidates to list on the new bourse.
Myanmar is facing delays in establishing a stock exchange which was planned to launch by 2015, according to Koichiro Miyahara, senior executive officer of Japan Exchange Group Inc. which is assisting on the project. “We’re pressed for time,” Bloomberg quoted Miyahara as saying. He added that the late approval of a capital markets bill by the Myanmar government has delayed the project, and it was up to the government as to how fast it can set up related organisations such as a securities regulator. Japan Exchange and Daiwa Securities Group have been chosen in 2012 to help Myanmar set up a stock...
Myanmar is facing delays in establishing a stock exchange which was planned to launch by 2015, according to Koichiro Miyahara, senior executive officer of Japan Exchange Group Inc. which is assisting on the project.
“We’re pressed for time,” Bloomberg quoted Miyahara as saying. He added that the late approval of a capital markets bill by the Myanmar government has delayed the project, and it was up to the government as to how fast it can set up related organisations such as a securities regulator.
Japan Exchange and Daiwa Securities Group have been chosen in 2012 to help Myanmar set up a stock exchange. Myanmar’s President Thein Sein signed the Securities Exchange Law on July 31, 2013, half a year later than planned. This will shorten the time for developing the bourse by about a year, Miyahara said.
The government said it will begin working on infrastructure such as buildings and software for the bourse in 2014.
The Securities Exchange Law doesn’t say whether foreigners will be allowed to trade on the bourse. Jim Rogers, chairman of Rogers Holdings in Singapore, and Mark Mobius, executive chairman of Templeton Emerging Markets Group, are among investors who see opportunities in the country over time.
About 8 companies may be listed when the exchange opens, according to Shigeto Inami, managing director of Myanmar Securities Exchange Center, a joint venture between state-owned Myanmar Economic Bank and Daiwa Institute of Research Ltd., a unit of Japan’s second-largest brokerage. Two stocks, Myanmar Citizens Bank Ltd. and Forest Products Joint Venture Corp., are currently traded over the counter at the center, making them candidates to list on the new bourse.
