Real estate agents need registration certificates to run businesses

The Ministry of Home Affairs released a statement saying that property brokers need to have real estate registration certificates to run their businesses. The Central Committee for Anti-Money Laundering issued Notification 1/2022 for real estate agents on 9 November. The statement said that, aiming to prevent money laundering cases in Nay Pyi Taw, regions and states and self-administered regions, if the agents want to run services of renting and buying properties, they need to register and inform the money laundering cases to the Financial Intelligence Unit (FIU).

Those who run the property agencies are required to register from the township level and they need to get the document as proof of their attendance to the anti-money laundering and terrorist financing training course. They can make registration with the pledge that they will attend the advancing awareness training on bylaws, laws, orders and directives, copies of their bank account and bank statement, it stated. Moreover, they must record the data of their customers and pay tax under the existing tax law and bylaw.

They must be ready to send their service records if the Financial Intelligence Unit and other relevant organizations ask them for criminal cases. Regarding the remittance, they also need to follow the payment methods set by the authorities. If it fails, it must report to the Financial Intelligence Unit, it added. If they are suspected of breaking the Anti-Money Laundering Law, Counter-Terrorism Law and existing laws, their business will be suspended and reported to the FIU. If they fail to follow the directives, they will face legal action under the existing law, it said. 

Source: The Global New Light of Myanmar

FILE PHOTO - Bottles of medications line the shelves at a pharmacy in Portsmouth, Ohio, U.S. on June 21, 2017.        To match Special Report USA-HEALTHCARE/OPIOIDS       REUTERS/Bryan Woolston/File Photo

Over 500 tonnes of pharmaceuticals worth US$10.5 mln imported by sea

Myanmar has imported over 500 tonnes of pharmaceutical products worth US$ 10.5 million via maritime trade, according to the Ministry of Commerce.

The products were reportedly imported from Australia, Bangladesh, Brazil, the People’s Republic of China, Cyprus, Ecuador, Germany, India, Indonesia, the Republic of Ireland, Italy, Japan, South Korea, Malaysia, the Netherlands, Pakistan, Spain, the Philippines, Singapore, Portugal, Thailand, the US and Viet Nam during the period from 19 to 25 November.

About 120 tonnes of pharmaceutical products worth $ 1.371 million were imported from the border trade. More than 100 tonnes were imported from Thailand and over 15 tonnes from the People’s Republic of China, it is learnt.

Source: The Global New Light of Myanmar

21

Reading electricity meters on mobile phone available in 5 townships of Yangon

Electricity meters can be read on mobile phones in five townships of the Yangon Region, according to Yangon Electricity Supply Corporation (YESC). During this FY, the government completes digital meter installation processes using an advanced metering infrastructure (AMI) system in five townships of Yangon and people can read the meter on their phones, YESC stated.

The AMI system will reduce power losses significantly and people can know their used meter units over their mobile phones using the Me Bill application in a timely manner. Officials installed AMI system-based 66,189 digital meters in Lanmadaw, Latha, Kyauktada, Pazundaung and Botahtaung townships and it is now 98.66 per cent completed.

Officials will change the remaining 900 meter boxes. In the past, it allowed only one service wire for each apartment and it caused complex cables on lamp posts. Now, power poles look neat and tidy for using only one larger service wire. 

Source: The Global New Light of Myanmar