YSX targets $20bn market capitalisation by 2022

 During the Asean- Myanmar forum held on March 23, he also said that annual transactions should also hit $10 billion by that year.
 “If we were to take Vietnam as an example, Myanmar is looking towards achieving $20 billion worth of market cap. Trade volume also can reach up to $10 billion annually,” said Aung Thura.
 YSX is scheduled to open in October this year.
 Ho Chi Minh City Stock Exchange (HOSE), opened in 2000, now saw its market cap exceed $50 billion as of February. During 2005 and 2010, the market cap stayed above $20 billion despite some hiccups influenced by a banking fiasco.
 Aung Thura believed that YSX’s prospect is brighter than HOSE. Due to slow development in the banking sector, YSX has more chances to boost its market cap.
 At present, Myanmar’s bank loans to the private sector accounted for only 31 per cent of gross domestic product (credit to GDP ratio), compared to 130-135 per cent in Vietnam. The low base indicated a huge growth possibility, he said.
 However, Aung Thura cautioned that illegal businesses are still flourishing in Myanmar, the YSX may become a place to transform black money into white money.
 “A lot of business sectors in Myanmar are still overwhelmed by black money; I hope that when YSX opens, it would not become a place to turn black money into white money. That could pose a great risk to the market and it may collapse in the long run. We need laws and regulations as well as proper knowledge of methods of changing the illegal money to legal money,” warned Aung Thura.