On July 14, Kanbawza Bank Limited (KBZ) announced its signing a memorandum of understanding with Cathay United Bank (CUB) to boost the cooperation of the two banks in certain areas.

Since the economic liberalization of Myanmar, KBZ’s international sales have been expanding rapidly. The memorandum will lay the foundation for the future success of CUB.

The bank has started its first US$ 80 million worth of bilateral foreign loans, which is directed towards small and medium-sized enterprises in Myanmar. The alliance will take care of CUB clients who wish to develop opportunities in the southeast Asian country.

Bloomberg Business reported on July 6, beer companies Heineken and Carlsberg have urgent needs to boost sales and have grabbed market shares in Myanmar. Both companies are trying to open up the market potential in the country because over 80 percent of the local adult population drink beer produced by companies affiliated with the former military government.

Carlsberg has already opened up a brewery worth US$ 75 million dollars ( NT$ 2.4 billion) in May, and Heineken will initiate US$ 60 million (NT$ 1.9 billion) worth of equipment in August. When sales decrease in Europe, the continent’s largest wineries turn to seek opportunities elsewhere in the world.

According to Euromonitor International, from 2008 to 2013, beer sales have grown by 14 percent, reaching US$ 2.65 hundred million (NT$ 8.48 billion), and is estimated to hit US$ 6.75 hundred million (NT $ 21.6 billion) in 2018.

Translated by Sarah Grasdijk
Edited by Olivia Yang

The Global New Light of Myanmar