A man looks at the trading board at the Yangon Stock Exchange in Yangon, Myanmar on September 3, 2018.

Photograph: Taylor Weidman/Bloomberg

Equities market records highest trading value in Aug

The equities market sees the highest trading in August 2022 with 109,809 shares worth K370 million, the Yangon Stock Exchange’s monthly price data indicated. The stock trading value of seven listed companies on the Yangon Stock Exchange (YSX) amounted to K246.9 million with 72,843 shares in July, the Yangon Stock Exchange’s monthly price data indicated.

Trading of 61,435 shares valued at K282 million was recorded on the exchange in January 2022 and the trading volume rose to 80,291 shares in February, with an estimated value of K414.9 million. A total of 52,408 shares with an estimated value of K233.634 million were traded on the exchange in March. The trading value slightly rose to K276 million with 53,059 shares traded on the exchange in April. The equities market saw K314 million worth 55,024 shares traded in May and K200.63 million worth 40,062 shares in June, according to the monthly report of the YSX.

At present, shares of seven listed companies — First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB), TMH Telecom Public Co. Ltd (TMH), the Ever Flow River Group Public Co., Ltd (EFR) and Amata Holding Public Co., Ltd. (AMATA) were traded in the equity market. The share prices per unit were closed at K7,300 for FMI, K2,450 for MTSH, K6,800 for MCB, K18,000 for FPB, K2,300 for TMH, K2,450 for EFR and K4,900 for AMATA respectively in August. Regardless of the collapse of the stock markets worldwide, the local equity market has been able to continue operating without stopping trading.

Additionally, YSX launched a pre-listing board (PLB) on 28 September 2020 in order to provide unlisted public companies with fund-raising opportunities and build a bridge toward listing on YSX. Next, the Securities and Exchange Commission of Myanmar (SECM) has allowed foreigners to invest in the local equities market since 20 March 2020. The YSX was launched four years ago to improve the private business sector. It disseminates rules and regulations regarding the stock exchange and knowledge of share trading through stock investment webinars and training courses.

Source: The Global New Light of Myanmar 

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Fuel oil prices stable on high trend

Fuel prices remained constant on the high side, according to the fuel oil market. The prices slipped at the end of August. Then, the price stayed stable on the high side between 3 and 5 September. The prevailing fuel prices stood at K2,395 per litre for Octane 92, K2,495 for Octane 95, K3,125 for premium diesel and K3,040 for diesel. Kyat depreciation against the US dollar is a contributing factor to the price rise. The Central Bank of Myanmar set the reference exchange rate for a dollar at K2,100, whereas the exchange rate against the US dollar hit around K3,500 in the grey market.

The Supervisory Committee on Oil Import, Storage and Distribution of Fuel Oil stated that domestic fuel prices are following the price index set by Mean of Platts Singapore (MOPS), the pricing basis for many refined products in southeast Asia. The committee is governing the fuel oil storage and distribution sector effectively not to have a shortage of oil in the domestic market and ensuring price stability for energy consumers. The Petroleum Products Regulatory Department, under the guidance of the committee, is issuing the daily reference rate for oil to offer a reasonable price to energy consumers.

The reference rate in Yangon Region is set on the MOPS’ price assessment, shipping cost, premium insurance, tax, other general cost and reasonable profit per cent. The rates for regions and states other than Yangon are evaluated after adding the transport costs and the retail reference rates daily cover on the state-run newspapers and are posted on the media and official website and Facebook page of the department daily starting from 4 May. As per the statement, 90 per cent of fuel oil in Myanmar is imported, while the remaining 10 per cent is produced locally.

The domestic fuel price is highly correlated with international prices. The State is steering the market to mitigate the loss between importers, sellers and energy consumers. Consequently, the government is trying to distribute the oil at a reasonable price compared to those of regional countries. Some countries levied higher tax rates and hiked oil prices than Myanmar. However, Malaysia’s oil sector receives government subsidies and the prices are about 60 per cent cheaper than that of Myanmar. Every country lays down different patterns of policy to fix the oil prices. Myanmar also poses only a lower tax rate on fuel oil and strives for energy consumers to buy the oil at a cheaper rate. 

Source: The Global New Light of Myanmar

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Domestic gold prices fall over gold coin sales news

According to market reports, domestic gold prices are falling due to the announcement that gold coins will be sold.

The reference price statement of the Yangon Region Gold Entrepreneurs Association mentioned that for the first time this year, the reference price dropped below K2 million per tical.

The Ministry of Natural Resources and Environmental Conservation issued a press release on 1 September 2022, saying that it plans to sell gold coins weighing one tical, 0.5 tical, and 0.25 tical respectively.

Following the announcement, the Yangon gold market index reached K1,996,000 per tical on 2 September 2022. The price of one tical was over K3 million in the market. 

Source: The Global New Light of Myanmar