BUSINESS – Stock exchange will launch with just 5 firms

The Ministry of Finance has announced that it will nominate five of the strongest Burmese companies to float on the stock market when it opens later this year. It did not name the public limited companies (PLCs) nor say whether they had already been selected. Deputy Finance Minister Maung Maung Thein said it would be ideal to launch the stock exchange with many PLCs but the decision was made to start with just five as most firms in Burma are not yet strong enough.