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Newswire: Myanmar Securities Exchan
- Subject: Newswire: Myanmar Securities Exchan
- From: ider@xxxxxxxxxxxxxxx
- Date: Tue, 26 Mar 1996 04:30:00
Subject: Newswire: Myanmar Securities Exchange
Japan's Daiwa Research To Set Up Venture With Burma
TOKYO (AP-Dow Jones)--Daiwa Institute Of Research Ltd.,
a research arm of Daiwa Securities Co. of Japan, announced
Tuesday that it will set up an equally-owned joint venture
in Rangoon with Burma's state-run bank, Myanmar Economic
Bank, to launch and bring up the securities market in the
Asian country.
Daiwa said the creation of a securities market is an urgent
task for the Burmese government, which aims to transform the
economy into a market-oriented one and privatize state-run
companies.
The new venture, which is slated to kick off operations in
May as the country's first securities company, is named Myanmar
Securities Exchange Centre Co. and is capitalized at $3.4 million.
The joint venture will engage itself in securities businesses.
It will create an over-the-counter market in Burma, and future
stock trading will be concentrated at the venture.
But the venture's operation will be taken over by the country's
stock exchange once it is launched in the future.
(END) AP-DOW JONES NEWS 26-03-96
1027GMT