The MSEC is the country's second stock exchange after the Rangoon Stock Exchange, which traded shares of a few British and American stocks in the 1930s. The fledgling exchange, operated by seven European firms, was a secondary OTC market with most of the quotes sourced from Calcutta and Bombay exchanges. It closed down at the outbreak of World War II. The RSE was revived in the late 1950s to trade shares of nine public-private joint-venture corporations. But this OTC market too died in the 1960s when all the firms were nationalized by the military government that seized power in 1962.[3]
Another military government came to power in 1988, and it allowed the state-owned Myanma Economic Bank to form a 50-50 joint-venture with Daiwa Securities in April 1996. The Myanmar Securities Exchange Centre was formed with an authorized capital of 17 million USD and paid-up capital of 3.4 million USD in June 1996.[4] It listed two public-private joint-venture firms: Forest Products Joint Venture Corporation and Myanmar Citizens Bank.[2] The exchange began its trading operations in December 1996.[5]
Current statusedit
Currently, the Myanmar exchange is dormant considering that no new companies are listing in the bourse. Instead, the government plans to set up another bourse. No new companies have signed up beyond the first two, and there is little trading. A 2011 Reuters report states that the exchange had no trading floor, and had eight employees who handled over-the-counter transactions and manually updated share prices, using a whiteboard, a marker pen and a stencil whenever a customer dropped by.[2] Indeed, most people do not even know that the market exists at all. State-owned and private enterprises alike have chosen not to list. Their reasons include the firm's fear of tax liability, fear of loss of control and unfamiliarity with the corporate culture.[6][7]
Roughneen, Simon (2013-05-29). "Burma's 'Vital' Stock Exchange Plans Proceeding on Schedule". The Irrawaddy.
Sanda Win (2011-08-29). . The Myanmar Times. Archived from the original on 2012-11-04. Retrieved 2013-08-25.
Song, Sophie (2013-07-17). "Myanmar Stock Exchange To Launch After Security Exchange Law Passed". International Business Times.
Takako Taniguchi and Kyaw Thu (2013-09-03). "Myanmar's 2015 Stock Exchange Deadline at Risk: Southeast Asia". Bloomberg.
Wong, May (2013-07-16). "Myanmar aims to set up its first stock exchange by 2013".
Yin Yin Mya (2000). Myat Thein, Maw Than (ed.). Financial Resources for Development in Myanmar: Lessons from Asia (illustrated ed.). Institute of Southeast Asian Studies. ISBN9789812300706.
April 14, 2024
myanmar, securities, exchange, centre, msec, located, yangon, myanmar, stock, exchanges, country, exchange, joint, venture, between, state, owned, myanma, economic, bank, daiwa, securities, group, currently, lists, only, securities, both, which, rarely, traded. The Myanmar Securities Exchange Centre MSEC located in Yangon Myanmar is one of the two stock exchanges in the country The exchange a 50 50 joint venture between the state owned Myanma Economic Bank and the Daiwa Securities Group currently lists only two securities both of which are rarely traded 2 The over the counter OTC market remains open despite the Yangon Stock Exchange s arrival in 2015 Myanmar Securities Exchange Centre Co Ltd TypeStock exchangeLocation21 25 Sule Pagoda Road Kyauktada Yangon MyanmarFoundedJune 1996OwnerMyanma Economic Bank and Daiwa SecuritiesKey peopleSoe Thane 1 Resigned CurrencyMyanma kyatNo of listings6Websitewww wbr msecmyanmar wbr com Contents 1 History 2 Current status 3 References 4 BibliographyHistory editThe MSEC is the country s second stock exchange after the Rangoon Stock Exchange which traded shares of a few British and American stocks in the 1930s The fledgling exchange operated by seven European firms was a secondary OTC market with most of the quotes sourced from Calcutta and Bombay exchanges It closed down at the outbreak of World War II The RSE was revived in the late 1950s to trade shares of nine public private joint venture corporations But this OTC market too died in the 1960s when all the firms were nationalized by the military government that seized power in 1962 3 Another military government came to power in 1988 and it allowed the state owned Myanma Economic Bank to form a 50 50 joint venture with Daiwa Securities in April 1996 The Myanmar Securities Exchange Centre was formed with an authorized capital of 17 million USD and paid up capital of 3 4 million USD in June 1996 4 It listed two public private joint venture firms Forest Products Joint Venture Corporation and Myanmar Citizens Bank 2 The exchange began its trading operations in December 1996 5 Current status editCurrently the Myanmar exchange is dormant considering that no new companies are listing in the bourse Instead the government plans to set up another bourse No new companies have signed up beyond the first two and there is little trading A 2011 Reuters report states that the exchange had no trading floor and had eight employees who handled over the counter transactions and manually updated share prices using a whiteboard a marker pen and a stencil whenever a customer dropped by 2 Indeed most people do not even know that the market exists at all State owned and private enterprises alike have chosen not to list Their reasons include the firm s fear of tax liability fear of loss of control and unfamiliarity with the corporate culture 6 7 References edit Roughneen 2013 a b c Aung Hla Tun 2011 Yin Yin Mya 2000 54 Yin Yin Mya 2000 57 Yin Yin Mya 2000 59 Sanda Win 2011 Wong 2013Bibliography editAung Hla Tun 2011 09 21 Myanmar s forgotten bourse eyes long awaited expansion Reuters Retrieved 2013 08 24 Roughneen Simon 2013 05 29 Burma s Vital Stock Exchange Plans Proceeding on Schedule The Irrawaddy Sanda Win 2011 08 29 Forgotten securities market eyeing revival The Myanmar Times Archived from the original on 2012 11 04 Retrieved 2013 08 25 Song Sophie 2013 07 17 Myanmar Stock Exchange To Launch After Security Exchange Law Passed International Business Times Takako Taniguchi and Kyaw Thu 2013 09 03 Myanmar s 2015 Stock Exchange Deadline at Risk Southeast Asia Bloomberg Wong May 2013 07 16 Myanmar aims to set up its first stock exchange by 2013 Yin Yin Mya 2000 Myat Thein Maw Than ed Financial Resources for Development in Myanmar Lessons from Asia illustrated ed Institute of Southeast Asian Studies ISBN 9789812300706 Retrieved from https en wikipedia org w index php title Myanmar Securities Exchange Centre amp oldid 1211081431, wikipedia, wiki, book, books, library,
