On 16 November 2020, the Stock Exchange of Hong Kong (HKEx) published a concept paper outlining a proposal to modernise Hong Kong’s IPO settlement process[1] (the Concept Paper) through the introduction of a new IPO settlement platform (Fast Interface for New Issuance (FINI)), which will be a mandatory platform for the handling of future Hong Kong IPOs should […]
Hong Kong’s Financial Services and Treasury Bureau (the FSTB) published a consultation paper[1] proposing a new licensing regime for virtual asset exchanges under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) on 3 November 2020. The new regime would require the licensing of virtual asset exchanges that are not required to be licensed under the […]
On 22 June 2020, the SFC announced that it has reprimanded and fined Guotai Junan Securities (Hong Kong) Limited (Guotai Junan) HK$25.2 million for internal control failures and regulatory breaches in failing to mitigate risks of money laundering and terrorist financing in relation to third party fund transfers and a listed company’s placing activities and […]
Foreward by Andrew Chilvers As companies continue to look for opportunities in global markets, directors from diverse jurisdictions are hired to serve on the boards of foreign businesses as well as domestic ones that have operations and assets in other countries. Enterprises across the world look for directors from other jurisdictions for any number of […]
Corona virus or COVID-19 is now known to the world over and has been the headline of most news cycles for the last two months. It has been a prevailing topic of conversation and now has become the debate focus of the corporate and commercial world. COVID-19 has impacted industries across the spectrum. The quick […]
On 4 February 2020, in light of travel restrictions that have arisen in response to the outbreak of the coronavirus, the Securities and Futures Commission (the SFC) and The Stock Exchange of Hong Kong Limited (the HKEx) issued a joint statement[1] (the Statement on Financial Results Announcements) providing guidance to listed companies and their auditors […]
According to MOC data, Myanmar’s sea trade with foreign countries amounted to over US$21.6 billion from 1 October 2018 to 16 August 2019. Exports amounted to over US$8.4 billion, and imports amounted to approximately US$13.2 billion. This represents a slight decrease from over US$23 billion in the corresponding period in the 2017-2018 fiscal year. (Source: http://mizzima.com/article/myanmars-sea-trade-reaches-over-usd-216-billion, […]
IR Global is delighted to announce that Clinton Morrow of Charltons has acquired the Corporate Law practice area in Myanmar(Burma). Charltons is a boutique Hong Kong corporate finance law firm with branch offices in Beijing, Shanghai and Yangon, Myanmar. The firm’s practice covers capital markets, M&A, regulatory and securities work, natural resources law, corporate and commercial, private equity and funds, corporate restructuring […]
International Finance Corporation to provide US$13.5 million loan to United International Group Ltd The International Finance Corporation has announced that it will provide the United International Group Ltd (United Group) with a loan of US$13.5 million. The United Group – which trades as Amata Hotel Group – will use the funds to expand its existing […]
Yoma Strategic Holdings to restructure and consolidate its tourism assets Yoma Strategic Holdings Ltd (Yoma) has announced its plans to restructure and consolidate its tourism assets in a new Myanmar tourism-focused company with a view to a potential listing on the Singapore Stock Exchange. Read more… Myanmar Highlights | Charltons Myanmar
Golden Rock Capital raises US$20 million of its US$100 million target for Myanmar-focused fund Golden Rock Capital Pte Ltd (Golden Rock) has raised approximately US$20 million of its US$100 million target for a Myanmar focused fund. The fund will make individual investments of between US$7 million and US$10 million in the services and consumer sectors. […]
Siamgas to acquire 30% share in Mon State gas-fired power plant On 18 July 2016 Siamgas and Petrochemicals Public Company Ltd (Siamgas) announced to the Stock Exchange of Thailand that it will acquire a stake in a 230 MW gas-fired power plant in Moulmein, the capital of Mon State, through its Singaporean subsidiary Siam Gas […]