Professional Documents
Culture Documents
&
Finance
SPECIAL SUPPLEMENT - OCTOBER 2016
Numerous conditions laid out for loan applications are affecting SMEs.
Photo: Staff
Advantages of modern
mobile banking
AGD Bank managing director U Htoo Htet Tayza at his office in Yangon. Photo: Supplied
c.santiago@mmtimes.com
Confusion still
Htoo Thant
Shwe Bank is planning to adopt ICT in all its services. Photo: Aung Myin Ye Zaw
reigns in taxation
A receipt with a tax stamp _ or many _ simply means customers have paid tax for
what they have consumed. Photo: Thiri Lu
domestic consumption.
Money collected will be channelled
for prudent usage, such as funding
healthcare and protecting the environment and natural resources.
We would collect the tax that
should be collected and then there
would be transparency in reporting
back to the public, so that they would
want to pay their taxes. Look at, for
instance, the telephone commercial
tax. We already announced the K7 billion tax revenue would be used for the
education sector, Myo Zaw Aung said.
10
he pawnshop, a traditional
micro-financing model,
continues to thrive as
Myanmar strives to modernise itself.
In a country where mobile banking
and other banking instruments are
making an appearance, the lowprofile neighbourhood pawnbroker
remains a valuable financer,
especially to low-income earners.
Every morning in Yangon suburbs
like Hlaing Tharyar, not only stores
and markets are crowded with
people but even pawnshops draw
customers who queue to obtain
small loans. People hock their
valuables, from precious jewellery
to watches to expensive clothing,
for a short span of time in exchange
for fast cash to bridge financial
shortfalls.
State-owned pawnshops were first
introduced in 1952 in Myanmar and
later licensed private pawnbrokers
continued to provide express loans,
with little paperwork and low
interest rates, filling the needs of
families desperate for cash.
To Hla Htay, a Hlaing Tharyarbased welding workshop owner, the
pawnshop is his financial lifeline,
as the informal banking system
11
in hours or days.
At the moment, share prices of
two companies listed on the YSX are
in the red. For instance, FMIs share
price was K36,000 when first listed
and rose to about K50,000 in May.
But in September its price slumped
to K17,000. Similarly, MTSHs shares
traded at K55,000 when listed,
subsequently touching nearly
K70,000 in May. Last month its share
price dived to K41,000. However, MCB
shares prices have risen from the
initial K6800 per share to K8200.
There have been glitches on the
way too. For instance, YSX manager
Thet Tun Oo said that immediately
after the establishment of the stock
market, stock traders were badly
hit due to the incorrect input of the
shares list.
A stock exchange has a market
price and a limit price. Investors
can place their shares in either way.
Depending on demand and supply,
the trading could stall resulting in
plummeting share prices. Therefore,
investors need to make the right
decision when placing their shares,
he said.
Placing shares on market price
means trading at whatever price
comes on the market. If you place
shares on limit price, it means a
transaction would be made only
when the price matches your
expectation. The stock market price
depends on demand and supply,
the kind of order and the number of
shares placed. So, it is important to
decide what order and what price to
place, he told The Myanmar Times.
Companies listed on the stock
exchange need to release a
disclosure document to the public
including how their companies
are managed and details on
their financial status, spending
and expenditure. These facts are
published on the YSX and the
respective companys website.
The document also outlines the
companys management board,
capital assets, capital investments,
and current and future projects.
MCB chair U Toe Aung Myint
previously said, Share buyers can
learn details about our company
in the disclosure document. In this
way, they can decide about their own
investments.
Maung Maung Thein, who
was involved in the setting up of
YSX, advised the public to clearly
understand the background of the
company, especially their financial
Three companies have listed so far on the Yangon Stock Exchange since it officially opened in March. Photo: AFP