By Juliet Shwe Gaung
The acquisition of MyPay Myanmar will enable MySQUAR to be a leading directly regulated mobile payments facility for remittances.
Combining with its Fund II, Delta Capital’s total assets under management has reached close to $120 million.
Telecom International Myanmar Company Limited, the company behind Mytel, is a joint venture between Myanmar government-owned Star High Public Co Ltd, a consortium comprising 11 Myanmar companies, and Vietnamese telecom company Viettel.
MSH seeks to expand its businesses in the education, hospitality and security sectors both organically and by way of acquisitions.
Post the deal, SMI will focus on duty-free and retail businesses in Myanmar.
Myanmar Strategic Holdings Ltd has raised $3.07 million through the issue of new ordinary shares to expand its existing operations.
This will be its second acquisition since its listing on the Singapore exchange in January
The financing will help improve access to microfinance for people in Myanmar so they can start new businesses or invest in farming.
Apart from security services, EXERA also seeks to develop cash management capabilities across Myanmar.
The companies engaged are KoreaLand, Myanmar’s Alliance Star and Shwe Taung Company.