The Yangon Public Company sells share quickly: Kyat 760 million worth shares have been sold so far

A total of K760 million ($609,100) worth of shares of the Yangon Public Bus Company have been sold so far, according to the company.

The company will operate a Bus Rapid Transit (BRT) system in Yangon, and any interested person can buy company shares.

Share sales started on November 3 and will go on until January 31, 2016.

“We sold K760 million worth of our shares so far. People ask me when they will get profit from it. It is a long-term investment, but I am sure that every share owner will gain profit from this business,” Dr Maung Aung, chair of the Yangon Public Bus Company, told Myanmar Business Today.

“Bus drivers will be appointed by the company and given a fixed salary. They will have to have at least a high school education to get a job in the company,” Dr Maung Aung, who is also an adviser to the Ministry of Commerce, added.

“We are discussing the salary of bus drivers. We don’t know how much salary we can pay for the drivers yet, but we will give a respectable amount for sure. Also, we plan to pay overtime fees for the drivers,” said U Hla Aung, chairman of vehicle supervisory committee Ma Hta Tha and a member of the company’s executive committee.

The company will train the drivers and it is negotiating with insurance companies to provide life insurance and vehicle insurance, he added.

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