Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.
Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.
For more information please visit our website www.mmbiztoday.com.
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Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.
Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.
For more information please visit our website www.mmbiztoday.com.
Facebook: www.facebook.com/MyanmarBusinessToday
Twitter: @mmbiztoday
Linkedin: http://www.linkedin.com/company/myanmar-business-today
Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.
Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.
For more information please visit our website www.mmbiztoday.com.
Facebook: www.facebook.com/MyanmarBusinessToday
Twitter: @mmbiztoday
Linkedin: http://www.linkedin.com/company/myanmar-business-today
MYANMARS FIRST BILINGUAL BUSINESS JOURNAL www.mmbiztoday.
com December 5-11, 2013 | Vol 1, Issue 44
Myanmar Summary Contd. P 19...(IMF) IMF Chief Lagarde Due in Myanmar T he International Monetary Fund (IMF) chief Chris- tine Lagarde will make Ier hrsL vIsIL Lo Myunmur this month adding to a serIes oI IIgI-prohIe vIs- its to the recently-opened Southeast Asian country. ugurde wIII vIsIL Myun- mars capital Nay Pyi Taw and commercial hub Yan- gon during her December 6-; vIsIL, wIIcI wIII come after stops in South Korea Kyaw Min und CumbodIu, LIe PurIs- based lender said in a statement. wIII vIsIL LIree coun- LrIes In dIerenL sLuges oI LrunsILIon - Koreu, LIe worlds 13 th largest econo- my; CumbodIu, u IronLIer economy on the rise; and Myunmur, undergoIng a great awakening to counLIess possIbIIILIes, Lagarde said. Lagarde will meet with LIe uuLIorILIes, IncIudIng ~_.__._.q:.._~.q. .~e. ~_~.~~_e.._ ChristineLagarde ._ _., .: .. ,.- .....q.. ~_e. e..~ .:.q:~ .__e.._~:. .q._. _., .:. - _._. ._.: .. . .:.._~: ~..q ~, .. ~ ~:..:.~.|~~~_.__._ .q:.~~q. ..:. _., .:. . .q:~ q .:. _~._ . Contd. P 19...(IMF) Malaysian Exporters Eye Myanmar for Trade Growth M yunmur oers great potential us u greenheId market with regards to both its products and servIces, uccordIng Lo the chief of Malaysias national trade promotion agency. Speaking with Myan- mar Business Today on the sidelines of Interna- LIonuI Trude (NTRADE) MuIuysIu zo1, wIIcI wus hosted in Kuala Lumpur IusL week, Dr Wong uI Sum, CEO oI MuIuysIu ExLernuI Trude DeveIop- menL Corp (MATRADE), said trade is growing be- tween the two countries and the formerly-isolated nuLIon oers greuL op- portunities to Malaysia for business. In oil and gas for exam- pIe, we Iuve InvesLed |In Myanmar] already and cooperuLIon Iuve begun, allowing us to work with companies from other countries who are also in Myunmur, Wong suId, with particular reference to the work being done Oliver Slow by Malaysian oil giant Petronas. As Myanmar emerges Irom hve decudes oI military rule and works towards a genuine democruLIc sysLem, Wong beIIeves LIuL MuIuysIu`s expertise in the educa- tion sector Malaysia is ranked 11 th in terms of total international sLudenL popuIuLIon, u sign that its education is highly respected can pIuy u roIe In deveIopIng key skills and education in Myanmar. In a country like My- unmur, we ure IookIng uL deveIopIng LIe skIIIs Iev- eIs, sIe suId oI u counLry wIere Iubour producLIvILy is only 30 percent of other Southeast Asian nations. or exumpIe, II you ure InLeresLed In deveIopIng u cerLuIn IndusLry, you need to either import the skills or the know-how. So this is about doing tie-ups wILI vurIous InsLILuLIons Lo ucquIre LIose skIIIs. HosLed Irom November z6 Lo z8, LIIs yeur`s NTRADE MuIuysIu wus Reporting from Kuala Lumpur Contd. P 6...(Malaysian) Myanmar Summary Contd. P 6...(Malaysian) IMF chief Christine Lagarde. R e u t e r s _ ., .:. - ~.:.~.: .~: ..:.._~: ~~,.:. . ~, ..: . .:.~~ ~ ~ . , .~: .. , ..:...~ ~~. . ~_e. q .,._~: . ....q :.. -~. ..:.~ , . e .q._. ~ . .~ . - ~_~.~~~ ._.:_~:..._~:. .q._. . , . ._ ~.~ ~ ~ :.: .. . ~ _. . . ~ . .. ..: International Trade (INTRADE) Malaysia 2013 ~ ....q:._._.~,.e .q.e_e.~ .~~ . .~: . .q.q . (MATRADE) - ..~.~ Dr Wong Lai Sum ~ _.,.:.. ....q:. ... _~:.~ , . e . . : e _e .~ .~~ .:.,._ ~: .. e. ~. . _.:.q. ~_ . q..: _., .:. ._e.~.| ...:..q... , ..:.~ ....q :.. ~~ ~ ~. ~....~:..:.. :~e, ~ .:.. .:. _ . _ e. ._ ~: . ._.:_~:..._. .q,..:~.:~.~_ ~._...~~.,_e q... _...:._.._e... ....|. ..:q~..:.~ ._..~ December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com 2 LOCAL BIZ Myanmar Summary MYANMARS FIRST BILINGUAL BUSINESS JOURNAL Board of Editors Editor-in-Chief - Sherpa Hossainy Deputy Editor - Oliver Slow Reporters & Writers Sherpa Hossainy, Oliver Slow, Kyaw Min, Shein Thu Aung, Phyu Thit Lwin, Htet Aung, Su Su, Aye Myat, Daisuke Lon, Yasumasa Hisada Art & Design Zarni Min Naing (Circle) DTP May Su Hlaing Translators Shein Thu Aung, Phyu Maung Advertising Tay Zar Zaw Win, Seint Seint Aye, Moe Hsann Pann Advertising Hotline - 09 7323 6758 Managing Director Prasert Lekavanichkajorn pkajorn@hotmail.com Email Editor - sherpa.hossainy@gmail.com Special Publications - oslow99@gmail.com Advertising - sales.mbtweekly@gmail.com Designer - zarni.circle@gmail.com Phone Editor - 09 42110 8150 Deputy Editor - 09 3176 9529 Designer - 09 7310 5793 Publisher U Myo Oo (04622) 22A Kaba Aye Pogoda Rd, Bahan Township, Yangon, Myanmar. Tel: 951-2301568, 951-2301569, 951-2301570 Fax: 951-8603288 ext: 007 Penbun Distribution Co., Ltd. Tel: (662) 6158625-33 Fax: (662) 6158634 Distributor (Bangkok) Subscription & Circulation Aung Khin Sint - aksint2008@gmail.com 092043559 Nilar Myint - manilarmyint76@gmail.com 09421085511 Suu Kyi to Australia: Smart Moneys On Us A ung San Suu Kyi has issued a clarion call to Aus- tralias political leaders: take a punt on us. The Myanmar presiden- tial hopeful and National League for Democracy leader has used an ad- dress in Sydney to call on IoreIgn governmenLs Lo Luke u Iong-Lerm vIew oI her country as it works Lo sIed LIe vesLIges oI u brutal military regime. She says she under- stands the impulse for governmenLs Lo Lry Lo bolster relations with enLrencIed power, buL the smart money is on her pro-democracy party. LIInk muny govern- menLs, noL jusL LIe Aus- LruIIun governmenL, gen- erally like to get on with wIoever Iuppens Lo be In power uL LIe momenL, sIe LoId un uudIence, including business giant Frank Lowy and NSW PremIer Burry O`urreII, at the Lowy I nstitute on Thursday last week. But as I said its better to look to the long run and uILer uII, uren`L AusLruI- ians supposed to be rather IncIIned Lo Luke rIsks? There were laughs as Australia came in for a gentle ribbing from the Nobel laureate: Arent you supposed to be a ruLIer durIng, reckIess, young nation? You musL be very dur- Ing und very reckIess buL at the same time it would be very, very sensIbIe oI you to put your bets on us. Suu Kyi urged foreign InvesLors Lo consIder LIe good oI Ier counLry, which has only recently allowed elections. I know that when busi- ness InvesL LIey InvesL because they expect to muke u prohL, sIe suId. (But) you cannot dIvorce economIcs Irom poIILIcs, und wouId IIke AusLruIIuns InvesLIng In Burma to promote the right kind of political poIIcIes, LIuL our counLry as well as their business mIgIL prosper. AAP Myanmar's opposition leader Aung San Suu Kyi speaks during a seminar as Australia's Prime Minister Tony Abbott looks on. A A P ..'.~: ., .. _~_ ~ _., .: .~ q..._...q,~~~ _..._~..- ..q....: . .:.~:. ~ ~ ~ , .. ~ ._~: . . q._ . ~. ..:.. . ~.q. ~e..- ...:._e.._ ..'.~:.,.._~_~ . _.:...,..:.~:. _.,.:. - .qq_~._.~.,~ ..: .~ ._ q .. ._. . . . .:.~ _.. . q, ~~ ~ ~ ~ ~ , .. _. ._e. ._. . _.:.. . , ..:.~.,_e ._. _., .:. -_._. ._.: .. . .:.~ ..: _~_ .~ q _.. q..._...q,~~~ ...:.. .:.~ _....,_~._.~_.:. .- ~..q.:.~.,_e._. _.,.:.. .._~_q.... ~ .~~ .:..q, ~~ ~ _~ .... ..: q ~ .,_. . . _.:.. . , . .:.~~~ q..._....~. ~....~:..:. ..'~.: q,._. .~q ~..q~.,_e _~.....~q._. ..' .~: ., . . _ ~_ ~ _ ..._ ~..~. .q~. . ~_ . .:.e ~ ~_.:.~. .q.:. ~.,_e ._. .~ q _., .:. -~. .q. .~ . .q..~: .. , q, _~ ... ..~ q .,._~: . _.,.:.- .qq_~,:~ ~ ..: .~ ..~ q .. ._.....:. ~ _.. . . :._~q, ~~ ~ ~~ ~,.._.:_~:..._. ..'.~: ., .. _ ~_ ~., _e . _.:.q .. ._. . . . .:. ~:. .,:~ . ~~ .:._ ~..q..~..'~ e_~__ q .. ._ . . . . .:.~ _. . . q, ~~~ q_,.._.:_~:._.. _e.._._. ..'.~:.,. ._~_~ ..,..:.~.,_e ~~.~_.~ qqq,~~~ ..: . , ._ q .. ._. . . _~._ ~ . q ,:.._ ._~: .. . ..: ._. . .. :..q.. : . .q.. .~ .. .,_.. ..q...'...~:. .:.~ ~ .~~ .~: .. , .:.. q,~~~ _..._~....,. .:.~:. _., .:. ~ .:.q:~ q .. ._. . . ... ._~: . ._.:_~:. .._. 3 December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com Leadership in technology. The world is growing. Every day, more people, vehicles, homes and factories are driving an ever-increasing demand for energy. Thats why ExxonMobil is investing $1 billion annually in research and developmentpart of our commitment to developing the breakthrough technologies and solutions required to meet the worlds rapidly growing energy needs. Around the world, we deploy industry-leading technologiesfrom extended-reach drilling to advanced visualization and production techniquesto maximize the value of energy resources. So whether its investing in research and development, delivering innovative petroleum products or investing in communities, ExxonMobil is developing more than oil and gaswe are helping to support global growth and progress. Learn more about our work at exxonmobil.com December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 4 Myanmar Summary Myanmar: Not that Hard to Do Business Andrew Tan T he recent World Banks DoIng BusIness zo1q report says that Myan- mur Is one oI LIe mosL dIm cuIL pIuces Lo do busIness, runkIng it in the bottom ten of the table (182 out of 189) in terms of ease of starting a business. The result is not at all unex- pected as Myanmar grapples with more than 50 years of economIc mIsmunugemenL, un evoIvIng IeguI Irumework, dys- functional banking system and poor infrastructure. There is a correlation between risk and return. Myanmar being an emerging market is a high risk market. Myanmar is not for the faint hearted. I would not recommend my clients to put their retirement money InLo Myunmur. However, us Myanmar is coming in from a very Iow buse - we cun expecL the Myanmars GDP to grow by at least 7 percent for the next 20 years. ookIng uL IL by secLor, II you are starting a business in sectors regulated by the State Owned EconomIc EnLerprIses uw (SOEE) - Ior exumpIe mInIng, oil and gas or telecommunica- LIons LIuL ure reserved Ior LIe sLuLe - yes, IL cun be quILe mInd boggling. SecLors reguIuLed by SOEE muy requIre IoreIgn InvesLors Lo hnd IocuI JV purLner, enLer into a production sharing con- tract with the state or bid for a licence in an open tender. Due Lo LIe myrIud oI governmenL reguIuLIons und opuque decI- sion making process it can be quILe uncerLuIn und IrusLruLIng Ior IoreIgn InvesLors. AILIougI LIe Myunmur governmenL Ius mude eorLs Lo Improve LIIs over LIme IL Is sLIII un Issue Ior muny IoreIgn InvesLors. However, II you jusL wunL Lo sLurL u servIce compuny under the Myanmar Companies AcL - IL Is quILe sImpIe und sLruIgIL Iorwurd. ExumpIe oI u servIce compuny wouId be busI- ness udvIsory, murkeLIng und udverLIsIng or engIneerIng ser- vIces - LIe puperwork und sLeps requIred ure noL LIuL onerous. The company can be 100 percent foreign owned with jusL Lwo sIureIoIders. You cun normally get your temporary business licence within two weeks and the business can be up and running within a month. Of the minimum capital of $o,ooo onIy IuII needs Lo be remitted into your companys bank account upon incorpora- LIon, LIe oLIer IuII oI LIe cupILuI needs to be remitted only when the business licence is due for renewal at the end of the fourth year. So basically you can start u servIce busIness wILI onIy $z,ooo oI InILIuI cupILuI und get the business up and running within a month. The World Banks Doing BusIness ReporL IoIIows u template in order to make it compurubIe ucross dIerenL countries being measured it does not measure by sector or industry nor does it profess to do so. Myanmar is not a hard place to do business if you know what you ure doIng und you Iuve LIe right local partner. Andrew Tan is the managing director of Consult-Myanmar Co Ltd. Consult-Myanmar is a 100 percent Singaporean- owned company that is incor- porated in Myanmar. Consult- Myanmar provides business advisory, business partner search, company incorpora- tion and immigration service to foreign investors that are interested to start a business in Myanmar. ~.:~- ._~:....~ ~_., ...: Doing Business 2014 ..~..~q _.,.:.._ ... :..q. ..~q,~~ ~ ~.~.....:. . .~.._e._.. ..~..~e:. ~ .|~..: ...|. ~ . ~ ~ .._.:~.,q:~ q ., ._~:. .q._. ....|. ~ .~: ... :..q....,. . .~..~.:. ~q:.~~.q.~. .:. ~.,....q:~:.,_..~ .:.. ~._..~..:~~~~_~ . ~. .~ .:.~ _., .:. ~:. ... :. .q...,..:. .:....:q, ~~~ .~ . ..:.,q:~. . ~_ e. e,~..._._.,.:.~.,_e e_e. . ...~ ~ ~. . ~_e. ..' , ..: ..: ._ . . .. :..q.. . , ..:.~~ ~ .,.:.q.q._ ~._.~.,. :._. _..:..,._.._.:.q..._... . .:.~.,_e e.~.,~ ~.~~. .:. _~.~.:.eeq..:._. .: ._ ~,:~~ _.,.:.._ ~.:.~.:.~: ..:..:q .,..: ...~~~..._._e.._. _.,.:.- ....|._._~.~ ~,._ .:._.. ~ ~~. ~,_... q:..,.~ ~.~~ ..._e._. ._:q.:.~ .,.,. :.._......:..q...,..:. ...~q ~_~....~ ...:..q. ..,.~..~:. ~._...~_~_ .|~ ~~:..ee~._.~.,.:.~ .~ _~ q._ _e. _. . ..:~:._e .~ ~ . .q, . .:~.:~ . . .e ~ .~.e.q...,. ~.q._~_ .:.~:. ..~:. ,...:.._ ~ .~_..._. ..... :..q. . . , ..:...._e , .. . .:. ..: ~_.:.~ ._.:.q..._... ..:.~.,_e _._~.~.~.:.. ~~.~....|...:q~q, .~. ._ . If you just want to start a ser- vice company under the Myan- mar Companies Act it is quite simple and straight forward. S o e
Z e y a T u n / R e u t e r s LOCAL BIZ 5 December 5-11, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com Twenty firms drop out of bidding on Myanmar offshore blocks A bout 20 compa- nies dropped out oI LIe hnuI pIuse of bidding for oil and gas bIocks o Myunmur`s cousL, u senIor energy mInIsLry omcIuI suId. While 61 companies were quuIIhed Lo bId, onIy about 40 submitted appli- cuLIons by LIe November 1 deudIIne, uccordIng Lo Myanmar Summary Japan Eyes Boosting Trade, Investment in Myanmar J apanese entrepreneurs are seeking cooperation in boosLIng Lrude und InvesLmenL In Myunmur, sLuLe- run media reported. A meeting on bilateral trade conditions was held re- cenLIy beLween U WIn MyInL, mInIsLer Ior economy, und KuLsumuLu Nobuo, cIuIrmun oI LIe Jupun-Myunmur EconomIc CommILLee oI KEDANREN (Jupun BusIness Federation). The meeting focused on promotion of trade and in- vesLmenL beLween LIe Lwo counLrIes, Lrude convenIence und deveIopmenL oI Iumun resources und InIrusLruc- Lures sucI us roud, brIdges und eIecLrIcILy. AccordIng Lo omcIuI sLuLIsLIcs, Myunmur und Jupun Iud u LoLuI Lrude voIume oI $1. bIIIIon In hscuI yeur zo1z-1, oI wIIcI Myunmur`s ImporL Irom Jupun reucIed $1.oq bIIIIon, wIIIe ILs exporL Lo LIe EusL AsIun nation stood at $406.49 million. Jupun`s InvesLmenL In Myunmur umounLed Lo $z;.qz mIIIIon us oI JuIy, mukIng IL 11 th in Myanmars foreign InvesLmenL IIne-up. Su Su LIe omcIuI wIo decIIned to name the companies. Processing is still going on, Ie suId on condILIon of anonymity as he was not authorised to speak to media. Myunmur Is oerIng 11 shallow and 19 deep-sea blocks. Those chosen to deveIop sIuIIow bIocks wIII be requIred Lo work wILI IocuI purLners, wIIIe foreign companies can deveIop deep-seu bIocks on their own as few local compunIes Iuve experI- ence in the sector. Among the 79 com- panies that bid in the hrsL sLuge In AprII were RoyuI DuLcI SIeII PIc, CIevron Corp, Conoco- PIIIIIps, Exxon MobII Corp, runce`s ToLuI SA, TIuIIund`s PTT ExpIoru- tion and Production Plc (PTTEP), und MuIuysIu`s Petroliam Nasional BHD (Petronas). ToLuI, PTTEP und PeLro- nus Iuve u consIderubIe edge over newcomers, because they already Iuve experIence und In- IrusLrucLure In Myunmur, according to an October z1 unuIysIs by VDB oI, u Iuw hrm LIuL Ius udvIsed LIree super mujors on InvesLmenL In oII und gus exploration in Myanmar. or LIe hrsL LIme In Myunmur, LIe wInners wouId be requIred Lo perIorm EnvIronmenL I mpact Assessments be- Iore hnuI upprovuI Irom LIe counLry`s InvesLmenL commIssIon, LIe energy mInIsLry omcIuI suId. Reuters _.,.:~..,.~,.~ .q,. .:~.:~ . . . , . .:. ..: q ~ q, ~~~ ~ .| ..'.e._.. e.~.| ~.| .,:~..~.~ ~.~ ~ , ..|.., ~ .|..:~ :.. ._. . . .,:~ . ~ . :.. ._~: . ...~~,_~._:,. ~_~.~,. ~. ..: ~. .~ ._.:_~:.. ._. .~:.~q_~....~. ~ ~.~..|. '~ .. ~.| ..:~ :.q, ~q_ ~.. . _._.._.. .~.~q~ .~ :. ~ q~.,~ ~.~ ..|. ,~ ..:~.: ~.| ..:~:.. _....._~:. .q._. ~.|.~:_.._ ~.~ .:.~.,_e q .. ._. . . . .~: .q . . , ...: q ~ q, ..:~ . _..~ .q. .:~.~ ~,. ~ ~~ ..~ .q:~ . .. .: .,....~.:.~ _....:.q ._ _e. ._~: . . . .~ ~, _~ ._:, . ~...:~..~ ._.:_~:. ._. .,.,.~..,.q.:.._ _., .:. ~ ~ , . e . . q . . ._. . . . . ...| ...: q ~ .~ .:.~:. ~ .~~ .:q,~~~~. ~...q:.e.,._~:. .q._. ._~:.... ~_.. . . ..: _., .:. ..,....~,.e .~._.~.,.:.. q:~._ .~.~.~ . .. :..q.~,_~._:,~,_~. .~._..J apan-Myanmar Economic Committee of KEIDANREN (J apan Business Federation) -~_ Katsumata Nobuo ~ .|~ ......._~_.. e.~._.~.~.~ . . . ~_~:.~ , . e. . q .. ._. . . ..:. ..~.~~.:q,~~~ ~:,.~_ ........:. _....._~:. .q._. A view of oiI weIIs in Myanmar's viIIage of Chauk, home to one of the Iongest producing oiI eIds in the worId. R e u t e r s December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 6 Myanmar Summary From page ...(Malaysian) Biman to Start Direct Dhaka-Yangon Flights Flights to resume after six-year hiatus B iman Bangladesh Air- IInes, LIe nuLIonuI ug currIer oI BungIudesI, wIII IuuncI dIrecL IgILs Lo Yangon from the neighbouring countrys capital Dhaka this Kyaw Min *All times mentioned above are local time monLI, compuny omcIuIs suId. Biman will start operating two weekly commercial schedule IgILs usIng ILs BoeIng ;;-8oo from December 9. Myanmar and Bangladesh Iuve been workIng Lo re-esLub- lish direct air link to connect Yangon and Dhaka after Biman sLopped ILs IgIL beLween LIe cities in 2007 citing huge Iosses. Bimans Boeing 737 in this rouLe wIII Iuve u seuLIng cupuc- .:... q . - . . ..._~: . .._e...: Biman Bangladesh Airlines ._ Dhaka . q,~,_. . e. .~ ..._~: .~ ~ , ~ ._.. . . .:.~ _.. . . :..~: ._ _e. ._~: . ~.~. ~...:.:.~ ._.:_~:._~ ._. Biman ~.,_e .~. , ity of 12 business class and 150 economy class passengers. TIe IgILs wIII be operuLed IoIIowIng LIe uIr servIce ugree- ment signed in August between LIe CIvII AvIuLIon AuLIorILIes oI Bangladesh and Myanmar. In Junuury zo1z, Myunmur und Bangladesh agreed to launch new bIIuLeruI uIr servIces In IIne with international air transport deveIopmenLs. ~~ ..e:.:.~ ~.._._ .~ :. q~.,.._ ~..~. .._~.._....:..__e.._~:. .q ._. Biman ._ Dhaka . q, ~ , ..._~:.._... . .:.~ ~~ ...~ ~,...'.._~: q.,:.._.. _.,.:.. .:...q.~._ ..._~:.~~,~.~.e..:.~ _., ._ _.. . q, ~~ ~ . ...| ...: q ~ . _~._ . Biman - .~ . , ._ business class ~ ...|. ~ . .|~.__e._.. economy class ~ ~~ ~ .|~.__e.._~:. ._. .q._. ..._~:.~~,~ ._......:~_.~~:. .:. .. q . _., .:. . _._ ~ ...._~: . ~:~:. .:.~_. ~ .~ .~ . ~ .q..._~._. Dr Wong Lai Sum, CEO of Malaysia External Trade Development Corporation (MATRADE). LIe sevenLI edILIon oI LIe un- nuuI Lrude evenL und wus gIven LIe LIeme 'RevILuIIsIng ExporL Growth in four key clusters buIIdIng muLerIuIs, eIecLrIcILy producLs, IIIesLyIe und munu- facturing support. A key Iocus oI LIe revILuIIs- Ing uspecL oI LIe evenL Is wILI regards to Malaysias small and medIum enLerprIses (SMEs), which make up more than 90 percent of all companies in the country. We need to ensure that these SMEs conLInue Lo Iuve oppor- LunILIes Lo grow, suId Wong. GrowLI Is very ImporLunL, whether its in the domestic murkeL or overseus. Malaysias minister for inter- nuLIonuI Lrude und IndusLry, SrI MusLumu MoIumed, wIo omcIuIIy opened LIe evenL, LoId Myanmar Business Toady of LIe ImporLunL roIe SMEs pIuy In Malaysia. CurrenLIy SMEs conLrIbuLe to about 23 percent of GDP and we would like to see the impact oI SMEs Increuse Lo ubouL qo percenL, Ie suId. He added that many compa- nies had led the way in showing Iow SMEs, In IndusLrIes sucI us IeuILIcure und CT, cun boIsLer a countrys economy. Wong admitted that the inter- national economy had slowed down In zo1, buL wus opLImIs- LIc LIuL LIIngs wIII Improve nexL year. AccordIng Lo omcIuI hgures, Malaysia is expecting to close 2013 with 3.3 percent growth in trade and less than 1 percent growLI In exporLs, Iowever, In zo1q, Lrude Is projecLed Lo grow by 5.2 percent and export 2.6 percenL. Wong suId evenLs IIke NTRADE wIII Iuve u sLrong contribution to the growth of Malaysias export products. The 2012 Intrade generated RMzz mIIIIon ($;z mIIIIon) wILI un uddILIonuI RM8 mII- lion ($181 million) coming from the incoming buying mission (IBM) a precursor to the trade evenL wIere MuIuysIun exporL- ers are matched with foreign buyers who are interested in their products. Wong reveuIed LIuL MA- TRADE wouId be suLIshed wILI u sImIIur hgure LIIs yeur, although admitted that it can be dImcuIL Lo cuIcuIuLe exucL suIes Irom LIe evenL. When people sit down to talk IIke LIey do uL LIese evenLs, LIey may not necessarily seal the deal immediately it takes time. After sitting down together for IuII un Iour you mIgIL hnd one or two good suppliers. You can deveIop LIuL one or Lwo InLo hve, sIx or seven IuLer on, sIe said. Wong said that the years IBM had attracted more than 800 foreign businesspeople from 6o8 compunIes ubroud, u o percent increase from 2012 and that the exhibition too had seen sIgnIhcunLIy more InLeresL LIun the year before. Bilateral trade between Myan- mar and Malaysia reached $880 mIIIIon In zo1z, un Increuse oI almost 12 percent from a year ugo, und u percenL Increuse Irom zo1o. However, In LIe hrsL nIne monLIs oI zo1, Lrude was down 14 percent to $586 million from the same period a year earlier. Malaysias most popular export to Myanmar is Palm OII, wIIcI uccounLed Ior $ mIIIIon In zo1z, wIIIe LIe mosL common product imported by MuIuysIu Is crude rubber, wIIcI collected $62.36 million. NexL yeur`s NTRADE exIIbI- tion will be hosted at MAT- RADE, KuuIu umpur Irom November z Lo z;. F ile s From page ...(Malaysian) W M C If you are interested in developing a certain industry, you need to either import the skills or the know-how. So this is about doing tie-ups with various institutions to acquire those skills. _.. . . _. _e. ._~: . ~_.:.. . ~ . ~ .:..._.~e~_ ..,...: q~.~qqq,._. ...:.._~:. ._. Wong ~ ._.: _~:..._. _., .:. ~.,_e .. ~. .q~ . .. . .~.~:~~ .e...|..,..|. .q:~ q . q_. ..,:~ e. ~.| . . ~.q. .,. . ~.._.: ._.. ~._.:.~...|. .:.. :_e e_e.~.~~ ... ....'. .q:~ q .:.,_. _e. ._.....q:.. ~.,_e ._:.q.~_~ .~: _. .,_.. _.,.:.- ._:.q.~_. . ..q_ e _e.~ .~~ . ~_~ ~ ~. ~ ..:.~~.._e..:._e Wong ~ e_~_:.._._.,.:.~ ...q_e_e.~.~~..:.q.:q, ..: .:.._~:. ,.~ ._.:_~:.._.. _.,.:.~.,_e ~,~...~:. . : e.~ ..e_e.~.~~.:q, .~.._~:.._. .q._. ~....:.. ~.~.:...,..:. ._. e_e.~.~~q, ~.~... .~: ..:.~ ~..~.:. ~. ._~: . Wong ~ ._.:_~:.._.. _._ ~ .... ~ ~ _e. .. _._ ....~ ~ _e. .. e _e . ~ .~~ . . :~.q..|._~: . ,.~ .~.~._.:_~:..._. ....q:..- ~_.__._.q: ~ , . e .q.. .~ . . . , .~, _~ . Sri MustamaMohamed ~ ....q :. . ~ ~....:.. ~.~ .:.. . , . .:. ~.q..|.~ Myanmar Business Toady . ._.:_~:..._. e..~q~ ~....:.. ~.~ .:...,..:.._ ....|._._~. ~~,~ , q:..,.~ .|~ .,._~:. ~....:.. ~.~.:. ..,..:.~:. ,~ q:..,.~ ~ .~~ .:q, ..: . , .:.._ ~: . ._. ,.~ ._.:_~:..._. ~.~~.:..~.,_e ~,..:.q. ..:.q:~. .~.~.~~.~ ,_.._:~_.:.~. ~....:.. ~.~ .:.. . , ..:.~ ..: q ~ .:_~_._e.._~:.._. ._.:_~:.. ._. 7 December 5-11, 2013 Myanmar Summary LOCAL BIZ Myanmar Business Today www.mmbiztoday.com Two More Law Firms Join Myanmar Rush T wo international intellectual prop- erLy (P) Iuw hrms - UK-bused Rouse und Thailand-based Tilleke & GIbbIns - joIned LIe ood oI Iuw hrms InLo LIe recently-opened South- east Asian country. P Iuw hrm Rouse opened ILs new om ce In Yungon on November zz. TIe om ce wIII oer hIIng und prosecuLIon servIces Ior Lrudemurks, puLenLs, designs and geographical indications. IP commer- cialisation and technology LrunsIer servIces wIII uIso be uvuIIubIe. TIe hrm suys LIuL LIe om ce - Rouse`s 16LI - Is LIe hrsL Lo be opened In Myanmar by an interna- LIonuI P Iuw hrm. Rouse purLner ubrIce Mattei and Moe Mynn TIu, u quuIIhed uLLorney from Myanmar who joIns Irom beer muker Myunmur Brewery, ure In cIurge oI LIe om ce. Rouse Ius worked ucLIveIy In LIe counLry`s murkeL Ior severuI yeurs und beIIeves LIe LIme Is now rIgIL Lo esLubIIsI u buse In LIe counLry, suId cIIeI execuLIve uke Minford. We already manage LIe P oI over o cIIenLs In Myunmur, und LIIs step will ensure we can conLInue Lo deIIver LIe IeveI oI servIce we prIde ourseIves on uL Rouse. Rouse Is unIqueIy positioned to operate in Myunmur, us ubrIce MuL- tei and Moe Mynn Thu Iuve been InsLrumenLuI In workIng wILI LIe govern- Shein Thu Aung menL Lo deveIop LIe Lrude- mark law currently before purIIumenL, Ie suId. Myanmar has no spe- cIhc P IegIsIuLIon, buL is drafting separate laws Ior puLenLs, Lrudemurks, designs and copyright. The countrys trademark law is expected to be the hrsL oI LIe P IegIsIuLIon Lo be reudy, probubIy by the end of this year. An IP om ce wIII uIso be seL up. MuLLeI, wIo Is TIuIIund country manager and also Ieud oI puLenLs uL Rouse, suId LIe hrm wIII Iuve u bright future in Myanmar. Myunmur Is u LIrIv- Ing, nuscenL economy, with a strategic position beLween ndIu, CIInu and Thailand. Working in the country brings many opporLunILIes, us weII us cIuIIenges, Lo P owners. The countrys IP regime is currently undergoing Iuge, und posILIve cIunge now is the right time for companies to begin to understand and protect their IP in Myanmar. I am looking forward to working with the rest of Rouse`s gIobuI neLwork at this incredibly exciting LIme, Ie suId. Myunmur joIned LIe WorId Trude OrgunIzu- tion in 1994 and must be IuIIy TRPs compIIunL by 2021. Meanwhile Bangkok- IeudquurLered regIonuI hrm TIIIeke & GIbbIns Ius uIso opened ILs om ce in Yangon and has a par- ticular focus on IP related servIces. ApurL Irom Myunmur, Tilleke has also launched new om ces In ndonesIu and Laos as part of the hrm`s regIonuI expunsIon. nILIuIIy, eucI oI LIese om ces wIII Iocus prImur- IIy on P work, un ureu oI sLrengLI oI LIe hrm. We`ve been servIng cII- ents in IP matters in these jurIsdIcLIons Ior muny yeurs, IuvIng munuged thousands of registration matters in each country. As our cIIenLs Iuve con- tinued to entrust us with more and more matters ucross SouLIeusL AsIu, we felt the time was right to launch a physical pres- ence In ndonesIu, uos, und Myunmur, so LIuL we cun IurLIer Improve LIe servIces we deIIver Lo our cIIenLs, suId Du- runI VucIunuvuLLIvong, co-managing partner of Tilleke & Gibbins. Based In Bungkok, VucIunuvuL- LIvong wIII oversee LIe LIree new om ces. n ndonesIu, LIe hrm expecLs Lo Iocus excIusIveIy on puLenL und trademark registration und reIuLed ucLIvILIes. n uos und Myunmur, ILs InILIuI pusI wIII be drIven by P, buL IL uIreudy Ius sIgnIhcunL InLeresL Irom cIIenLs Lo oer more broadly into other areas. We are constantly revIewIng our sLruLegIc InILIuLIves In order Lo de- termine where we should dIrecL our InvesLmenLs. Many of our clients are InLeresLed In IuvIng u single point of contact for their legal needs across SouLIeusL AsIu, so we ure certainly eyeing further expunsIon possIbIIILIes, suId VucIunuvuLLIvong. Since the beginning of LIIs yeur, u ruIL oI IoreIgn hrms Ius enLered InLo LIe murkeL, eILIer by seLLIng up un om ce or LIrougI u LIe-up wILI u IocuI hrm. SIngupore-bused SeIvum & Partners opened its om ce In SepLember, wIIIe US-bused HerzIeId RubIn Meyer & Rose, und UK-bused SLepIenson Harwood opened their of- hces In OcLober und Muy respecLIveIy. MeunwIIIe, u sLrIng oI oLIer InLernuLIonuI hrms which continue to eye Myanmar but are yet to seL up un om ce IncIude BerwIn eIgILon PuIsner, NorLon Rose uIbrIgIL und Buker & McKenzIe. F ile s . . . . q:.... . , ..:. _e. ._ e .~~._.. ~ Rouse . ..~._..~ Tilleke & Gibbins ~._ ... . . , ..:.~.:.~_.:.~ .q:~ .:._ _., .:. ~ . . , . .:. ..:q~.:..~:.__e. ._~:. .q._. Rouse .....,.._ .~:. q~.,~ q, ~ , _. _ , .-, ... ~ e . . . ._ .~. .|, ... . ~ , ~. ~ ~...q: ....q: .~....q:.:. ~.q._ ~,..:..:.~ _....... :. .__e.._~:. .q._. Rouse ._ _.,.:.~ .. .. .~_ ._ _ ._ . q: .....,....q:... ..,.~.._e.._~:. e. . . , .. ._.:_~:.. ._ . Rouse -~e~.:._e...: Fabrice Mattei . Moe Mynn Thu ~._ ,.~:. _ ~ ._ ~. ..: q~.:..__e. ._~: . . q._ . Rouse ._ _.,.:...~~ ~ ~~ _~. : . . , ...: q~ . _. . e. ~. , ~.|._ _.,.:.~ ~._.. ~ . . ..: q, ~~~ ~. , ~.| .~: ._e. ._ e e _~_ ._~: . ~. ..: .. Luke Minford ~ ._.:_~:..._. December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 8 Myanmar Summary Mitsubishi to Build 7,000MW Power Plant in Myanmar Te joint venture with two Tai frms to cost $9.85 billion Aye Myat J apanese trading house Mitsubishi Corp will build u Iurge IossII-IueI-hred power station in Myanmars southeastern Dawei special eco- nomIc zone LIrougI u joInL ven- ture with two Thai companies. Mitsubishi will team up with EIecLrIcILy GeneruLIng und LuIIun-TIuI DeveIopmenL Lo set up the new entity as early as nexL yeur, LukIng sLukes oI o, o und zo percenL respecLIveIy, Nikkei reported. Outlays could reach 1 trillion yen ($9.85 billion). This marks the latest in a se- ries of Myanmar infrastructure- deveIopmenL projecLs speur- Ieuded by Jupunese busInesses. TIe InILIuLIve Is expecLed Lo IeIp bolster industry in the newly democruLIsIng nuLIon, wIIcI suers Irom cIronIc eIecLrIcILy shortages. The total output capacity of the consortiums facilities will evenLuuIIy reucI ;,ooo megu- wuLLs (MW), or equIvuIenL oI seven nucIeur reucLors. Natural gas will likely to ac- count for 20-30 percent of the IueI, wILI LIe resL comIng Irom couI. TIe hrsL IucIIILy Is sIuLed Lo go into operation in 2015. To IeIp recover InvesLmenL, LIe pIunL wIII suppIy ,oooMW wILIIn LIe economIc zone und sell the rest to Thailand. SooncIuI KumnoonsuLe, governor oI LIe EIecLrIcILy Gen- erating Authority of Thailand (EguL), LoId NIkkeI LIe joInL business in Dawei would be a symbol of collaboration among Myunmur, TIuIIund und Jupun. He said Mitsubishis partici- pation would encourage more Jupunese busInesses Lo InvesL In DuweI. EguL Is LIe purenL oI EIecLrIcILy GeneruLIng. The Thai and Myanmar governmenLs Iuve esLubIIsIed u joInL enLILy Ior overseeIng DuweI`s deveIopmenL und munugIng LIe necessury hnunc- Ing. PorL IucIIILIes, ruII und communications are among LIe seven InIrusLrucLure heIds LIuL wIII be IundIed by umIIuLed companies. Mitsubishis par- ticipation will come under the power-generation sector. ., . - Mitsubishi Corp ._ _.,.:.-~.q .~:.. :.~e ~....:..q.~,~ .~.~ . . ~~.~ ....| ._ , . _~ ...: .: ~. ._.._ .. .. .:~ ~:.....~ , _~.~. . ~:. ~_ ..:~ . :.._ _e. ._~:. .q._. Mitsubishi ._ Electricity Generating,Italian-Thai Development ~. ....|._ .:._..~..:.. ~ .~,~:. ~_.:.:..__e. _.. ..,.qee:.:.~:. ,~ q:. .,. ~ q:..,.. ~ q:..,. ~.......:._~.__e.._~:. .q._. ~,~.q~.: e,.. ~ q.e ~..q~,..'.: . .e, ~ .q:~q.._~:. .q._.e. ..~,.._ .,..,..:.- _.,.: ~._ .. ~..:~ ~~ ~_~ ~ .q:~....:..:..~,.~.._e. .:_.. .....:~~:. _.~.~:~. .:.~ _~.~.,q..: _.,.:. ~~ ~ ._. ~.:~ ~~ _e. ... . .__e.._~:. .q._. ~, . ~ . . . .:.~ ~~ ~ .~....: . :.ee._.q ._. F ile s LOCAL BIZ 9 December 5-11, 2013 Myanmar Summary Myanmar Summary Myanmar Business Today www.mmbiztoday.com Wor l d Ba nk La unc he s Ent e r pr i s e Sur ve y i n Mya nma r Survey a part of investment climate assessment in Myanmar Su Su T he World Bank Group has launched an enterprise sur- vey In Myunmur Lo ussess LIe busIness envIronmenL und burrIers IucIng hrms doing business in My- unmur, LIe WusIIngLon- based lender said. TIe survey Is purL oI LIe WorId Bunk`s nvesLmenL Climate Assessment with IundIng Irom LIe UK De- partment of International DeveIopmenL (UKAD). TIe survey IncIudes InLervIews wILI uImosL 1,qoo munuIucLurIng und servIces compunIes - do- mesLIc und IoreIgn, smuII and large in Myanmar. TIe survey resuILs und analysis will help inform governmenL poIIcy Lo promoLe InvesLmenL, pro- ducLIvILy und economIc growLI, LIe WorId Bunk said. Myanmar is imple- menting a broad range of reforms to stimulate InvesLmenL und growLI. Hearing from businesses in Myanmar on what they see as the main issues and comparing constraints they face with those in other countries can help to focus on policies with LIe mosL ImpucL, suId KunLIun SIunkur, WorId Bank country manager in Myanmar. The World Bank has conducLed sImIIur surveys In over 1zo counLrIes around the world includ- Ing In EusL und SouLI Asia. The result is a set of comparable indicators at counLry IeveI on busIness perIormunce und envI- ronment including access Lo hnunce, uccess Lo eIec- LrIcILy, rouds und wuLer, and business regulations. As u hrsL survey, LIIs will also set a benchmark and help in measuring progress as the Myanmar busInesses envIronmenL Improves, SIunkur suId. The lender said the enLerprIse survey wIII provIde more deLuIIed information to help unswer sucI quesLIons as: What is the main obstacle for growth for small businesses in My- anmar? What are they key obstacles to exporters? How does producLIvILy and the cost of labour in Myanmar compare to other countries? The World Bank has conLrucLed MMRD, u IocuI reseurcI compuny, Lo ImpIemenL LIe survey using the standard World Bank methodology. TIe survey commenced In November und covers Yungon, MunduIuy, Mo- nywu, TuunggyI und Bugo cities. Preliminary results oI LIe survey ure expecLed In June zo1q, LIe bunk said. The lender said to ensure reliability of the collected data and to protect the identity of LIe InLervIewed hrms LIe World Bank guarantees conhdenLIuIILy oI IndIvId- uuI InIormuLIon oI hrms. ~. : ~ ~e . _ ., .:. ~ ..,..:.- ~._.~., . .~ .~ _.. ~. ..~:~e ._.. _.,.:.~ ... :..q. ..: q ~ . .:._ . . , ..:. _~ .~ .,q..: ~.~ ~. ~~:.~. ..:.~ .e: ~ .: . q, ~~ ~ _e. ._~:. . q._. e ... ~. ..~:~ e .._ ~. :~- q..._....~._. ~.,~~_e~.....- ~. .~~..._e._.. e.~~_._ _._ . q: e _e .~ .~~ .q. .. . _:, (UKAID) . .._~. .:~ . . .:. _.. . ...:._. . _e.._. e ... ~..~ ~ , ~ . . . . ~, ..: . ~ . ~ ..|. ~,~~ , ..|.~ .~ . ..._., .:._. . _.,.:.q _._~. _._.. ..,.... ..,._~..:.~ .| ..._.,.. _...:._.._e. ._~:. .q._. .. ~. . q.. .:. . . .. .. .:.~ .:.~ ~. .q~:. q .. ._. . . . .:. ~ . . . ..:.. ...:..q.e_e.~.~~ ..:. q.:q,~~~ _~.... q:~ ~.q..|..: . ~|._._. ._.: .. . .:.~~ ~ ~.:~ ~~_e. ..._ _e. ._~: . ~. : ~. ._.:_~:..._. _., .:. ~.,_e q .. ._. . . .. e_e.~.~~..:.~ .. .~: .. , .:..q, ~~ ~ _._. ._.: . . . .:. . :~ ~.~: ~_.e:..:q~.~q _.. _.,.:.q ..,..:.. ,. ~ _., .:. ~ . .~ _~ .,q ..: ~.~~.~~..:.~:. ~_.:...:.~ _~.~.,q ..:~.~~..:.. ..e .~ .~|..:. _._.._.:... ~ ~.:~ ~~ _e. .:q, ..~..~ ~_......._ _e. ._~: . _., .:. . q: ~.:~. ~_~.~~~.. _e.._ Kanthan Shankar ~ ._.:_~:..._. ~. :~ . e...~..~:. ~. :~. ~,.q ...|. ~~ .~:~ ..~...~:~e.._. .. .. ... ~. ._ e. ._ ~~ ~ e...~..._ .~.~~.. _e..:.__e... _.,.:. - . .. :..q.~, .~ ~ .~~ .: . ~._.~.,.:.~ ._ . . ... .:. q, ~~ ~ ~.:~ ~~ _e......__e.._~:. ,. ~ ._.:_~:..._. Insurance Association to Launch Soon T Ie governmenL Is pIunnIng Lo IuuncI un Insur- ance association comprising the lone state-run Insurunce ugency und prIvuLe Insurunce orgunI- suLIons, u mInIsLer suId. TIe ussocIuLIon wIII IncIude governmenL-owned Myunmu nsurunce EnLerprIse (ME) und prIvuLe Insurunce compunIes, und wIII be seL up us u non- governmenLuI InsLILuLIon, depuLy unIon mInIsLer Ior hnunce Dr Muung Muung TIeIn suId. However, LIe mInIsLer dIdn`L gIve uny exucL duLe oI setting up the association. U Aung Soe Oo, generuI munuger oI IocuI Insurunce compuny KBZ, suId Insurunce IndusLry wIII be boI- stered through the introduction of this association. The association can educate the public and impart knowledge to the industry stakeholders. The market wIII dehnILeIy sLrengLIen LIrougI LIIs coIIuboruLIon. The minister said local insurance company First Na- LIonuI nsurunce Is coIIuboruLIng wILI LIe governmenL to prepare the draft bill for the association. CurrenLIy, LIere ure 1z prIvuLe Insurunce compunIes In Myunmur besIdes ME, und 11 oI LIem Iuve sLurLed their operations. Phyu Thit Lwin ~. .q. . . , .~. . _e. ._ _., .: ~:.. . . , .. . . ~~:. . . . , ..:. .|~._ ~:..~..~..~ e ._ .~_ ..:~ .:..__e._.. ~..|~. .~ NGO~_e. ~_ ..:~ . :.._ e _:.q.~,_~._:,. ~ e~, _~. ..|~ ~:..: ..: ...- ._.:_~:..~~q .q._. ~:.. ~. .. ~: ~_.:.. .~ . :q ~e. ~, .~:~_.,.: _._ ~~:..~.~.~ ...|..|~~~.._~ .~. . . .: .e . .:_...~..~:....,..~e _e .~.~~e ~:.. ._:.~ _., . :.e ...e''e ...:..:...~.~ .~ ._.: _~:.._. December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 10 Myanmar Summary EU Beefs up Humanitarian Assistance Provides $4 million in fresh funding; encourages dialogue and intercommunal understanding to end violence in Rakhine and Kachin states T Ie Europeun CommIssIon wIII provIde IurLIer Iu- munILurIun IundIng oI C million ($4.08 million) to assist vIcLIms oI vIoIence In RukIIne and Kachin states in Myanmar which has left thousands of peo- pIe dIspIuced und IomeIess, LIe EU`s HumunILurIun AId & CIvII ProLecLIon depurLmenL (ECHO) said. This brings the commissions humanitarian funding in 2012- 1 Lo Cq8.6 mIIIIon ($66 mII- IIon), CIuus Sorensen, dIrecLor generuI oI ECHO, suId uL u press conference. The assistance will be used to provIde Iood Lo LIose uecLed, and will be implemented by LIe UnILed NuLIons WorId ood Progrum (WP), wIIcI Is uIreudy ucLIve In LIe uecLed ureus und Ius LIe requIred experLIse und IogIsLIcuI meuns, ECHO suId In u sLuLemenL. AccordIng Lo LIe UnILed NuLIons, more LIun 1qo,ooo peopIe Iuve now been dIspIuced sInce June zo1z In RukIIne sLuLe, mosLIy LIe MusIIm mI- norILIes, wIIIe some 11,ooo dIspIuced IIve In numerous camps in Kachin state. Sorensen said Myanmar has mude posILIve poIILIcuI deveI- opments through the reform process, wIIcI wouId muke Myunmur u mugneL Ior InvesL- menL, und Ioped LIe vIoIence wouId noL jeopurdIse LIe posI- LIve ouLIook. DespILe LIe eorLs uL recon- ciliation and the peace process underwuy Lo end vIoIence, we remain extremely concerned about the protection of thou- Shein Thu Aung sunds oI cIvIIIuns In boLI RukI- Ine und KucIIn sLuLes. HuvIng reLurned Irom u vIsIL Lo LIe RukIIne sLuLe, Ie suId Ie was disturbed by the dramatic deprIvuLIon oI LIe uecLed communities and disrespect of fundamental rights. TIe vIcLIms pIeud hrsL und foremost for security and for a durable solution that allows them to go back to their lost Iomes und reguIn LIeIr dIgnILy. Sorensen hoped that authori- ties would do their outmost to ensure unfettered access for humanitarian aid workers to LIe dIspIuced In RukIIne sLuLe. We are disturbed by threats made by some radical groups against national and interna- LIonuI sLu oI uId orgunIsuLIons wIo ure LryIng Lo provIde Im- partial humanitarian assistance Lo uII LIose uecLed by vIoIence In RukIIne sLuLe, Sorensen said. There are clear opportuni- LIes Lo Improve LIe sILuuLIon oI LIousunds oI peopIe LIuL Iuve been uecLed by vIoIence und deprIved oI LIeIr mosL busIc rIgILs, noLubIy by brIngIng In suppIIes, Iood, sIeILer, IeuILI and protection. But a more lasting solu- LIon wouId benehL Irom uII responsIbIe poIILIcuI Iorces, LIe governmenL us weII us IocuI uuLIorILIes LukIng decIsIve sLeps Lo proLecL cIvIIIuns und resLore LIeIr rIgILs. EveryLIIng sIouId uIso be done Lo ensure deveIop- menL In uII purLs oI LIe RukIIne sLuLe und brIdge LIe dIerences between the communities to creuLe un envIronmenL condu- cIve Lo securILy und prosperILy, he added SInce LIe begInnIng oI LIe vIo- Ience, ECHO Ius conLInuousIy depIoyed experLs Lo boLI RukI- ine and Kachin states to assess the humanitarian situation in the camps and communities. CIuus Sorensen vIsILed My- anmar to make an assessment of the humanitarian situation Highway Holdings to Utilise Myanmar Operations for Manufacturing Yasumasa Hisada H ong Kong-based Highway Holdings Ltd announced last week it Ius receIved upprovuI Irom one oI ILs Europeun cusLomers Ior assembly manufacturing of one series of electric synchronous motors at the companys sub- contracting facility in Myanmar. The company said assembly producLIon, wIIcI wus up- proved IoIIowIng LesLIng und quuIILy conLroI evuIuuLIon, Ius sLurLed und hnIsIed producLs are being shipped directly to the customers factory in Germany. Nusduq-IIsLed HIgIwuy HoId- ings produces products for orig- InuI equIpmenL munuIucLurers from parts and components Lo sub-ussembIIes und hnIsIed products. Its manufacturing fa- cIIILIes ure IocuLed In SIenzIen, China. The assembly of these mo- tors in Myanmar complements our component manufacturing operation in China and enables us to realise meaningful cost- suvIngs und u compeLILIve udvunLuge, wIIIe muInLuInIng LIe IIgIesL quuIILy sLundurds, suId RoIund KoII, cIuIrmun, presIdenL und cIIeI execuLIve om cer oI HIgIwuy HoIdIngs. Kohl said he expects the cus- tomers entire line of synchro- nous motors will be assembled in Myanmar by September zo1q, uL LIe IuLesL. He added that this is High- wuy HoIdIngs` second mujor customer to utilise its capabili- LIes In Myunmur, wILI sLrong expectations that additional businesses will transition as- sembly work to the companys operation in this country to take udvunLuge oI LIe sIgnIhcunL cosL benehLs. We appreciate our cus- Lomer`s conhdence In our cu- pubIIILIes und supporL; und, we ure gruLIhed LIuL LIIs more LIun 10-year relationship continues Lo ourIsI. Myanmar Summary Claus Sorensen, director-General of the Humanitarian Aid and Civil Protection department of the European Commission (ECHO), speaks to media at a press conference in Yangon. U A u n g / X in h u a Irom 1q-z November. ECHO Ius muInLuIned un om ce In Yungon sInce zoo Lo IucIIILuLe LIe deIIvery oI humanitarian aid to the most vuInerubIe peopIe. SInce 1qqq, ECHO Ius provIded over C1;q million in humanitarian aid. ~.e . q. _._ ,e . . ._._ ,e .:.q .~._.:.~~~ .,:~. ..:.. ..:,:. ~~~_.:.~_e. e , , . . e ~..q ~, ..'.: ,.~ ..e, ~:. .:~.....:..__e. ._~:. .q._. q._._,e. ~._._,e~ _e.. :....: ._.~.:.._~: ~.. ~ . . _e. . :.. ..| ..:.. :q .,_. . ~ .e . , .~ ~~ ~ . .:.. ..:,:. ~~ ~_ .:.~_e. ~.:~ ~. .:. .... :. ._ _e. ._~: . ~.e- Humanitarian Aid & Civil Protection department (ECHO) . ._.:_~:..._. ~~~~, . . ~ ~ .e .~: .q . ..:....:,:. ~.:~~. ~~~_.:.~_e. e, ,.' ..e ~..q~,..'.: '' ..e, ~ ~~~_.:. ...:.._~:. ECHO - ,_~:..q.....~ .~..: q....~..~ ._.:_~:..._. e.~.:~~....:.~:. ._ .~.:.._~: .~.q:~q.,..:. ~~~ ~.:.~.:.:. .:~.. :. .__e._.. United Nations World Food Program(WFP) . ~.~: ~_ .e: ..: q ~ . :.._ _e. ._ . WFP . ~..|....:.~ e._ ._ . ~.:~ ~. .:. ....,. ._~: . .q._. ._ .~ .:.._~: . ~ ._ ~ .q:~ _~q..:.~.,_e ,.~- ._..q. ~~~ ~:.......~ ....: .. q_~_. . , .~ . ., .. q._ ~ .~ . .:.~ _., ._ ., . . ~~~ ..:..: ._eq...:.~._. ~.q _~._~:. .q._. .e:.~:~._..~ Highway Holdings Ltd ._ _.,.:.~ ......:~: ~...~,~.. ...,..:.~ ..:q~q,~~~ ,.- .q:.. .e:~._.:.. ..:~ . _..~ ~ qq . _. _e. ._~: . .q._. ~.~. .._.~.~~...:.~ ...~ ............:. ~q_ ~......q: ,...... ~~ _e~_...:._e ~~__..._.. ~ . . . _. .._.:~ ._ ~ ~ , .. _ ..:. ~:. :.,q .~,. ~..,._~:. ._. .q._. Nasdaq ~._..~ Highway Holdings ._ ...._.~qe: ~....:.~~~ .._.~qe: ~. ~ ~. ..:.~ ~ . . ....,._ ..,.~.._e._.. ,.-~... ..,..:.._ Shenzhen ~ ~_q._~:.._. .q._. _.,.:.~ ..:.~:~.... ,..:.~:. ..:q~_.._e ~,~ .q ~ .:. ~:. .~ .:... .. ..,.e_...~._. ~.:~ ~~....._~:. ~q_~..... .q:~._. ~.~:...,.... . :.q.__e. ._~:. Roland Kohl ~ ._.:_~:..._. 11 December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com FEATURE 12 Contd. P 13...(Myanmar Modernises) As Myanmar Modernises, Old Trades Are Outpaced By New Competitors Thomas Fuller F or years they poured out their hearts on the broken puvemenLs oI Myunmur`s cILIes und Lowns, young Iovers desperuLe Ior prIvucy yeL wILI no choice but to use what the Burmese call roadside phone shops. Duw MyInL MyInL TIun, wIo rents out her two phone lines In cenLruI Yungon, Ius Ieurd IL uII: LIe sobbIng, IeurLbroken women; the angry spouses; the duplicitous boyfriends who gush sweet nothings to one gIrIIrIend, Iung up und repeuL the same sweet nothings to another. Iuve IosL uII IuILI In men, suId MyInL MyInL TIun, wIo suL on a plastic stool impatiently wIggIIng Ier sIIver-puInLed Loe- nails as her customers chatted away. RoudsIde pIone sIops - ucLu- ally no more than a tiny table on the sidewalk and a few push- buLLon pIones - ourIsIed in Myanmar when the former mIIILury junLu seL LIe prIce oI obtaining a cellphone at thou- sands of dollars. But as this country opens to LIe worId, LIe pIone renLuI business is losing customers quIckIy, one oI u number oI unLIquuLed Lrudes LIuL ure dIs- appearing from a rapidly mod- ernising country. Who needs a roadside phone shop when you can now buy a cheap cellphone and call from anywhere you want? The list of soon-to-be obsolete professions is growing: The typewriter clerks who sit out- sIde courLIouses und govern- menL omces ure IosIng ground to computers and email. The mimeograph machines and a whole neighbourhood of men wIo munuuIIy curve rubber stamps are being replaced by Iuser prInLers, scunners und photocopiers. n every socIeLy, proIessIons disappear in the name of pro- gress. But the pace of change in Myunmur, wIere urmy generuIs introduced a form of democ- rucy Lwo yeurs ugo, Ius been compressed InLo monLIs, noL decades. The typewriting business Is bud, suId Duw Nwe Sundu, who was at an outdoor shop in Yungon, wIere LIe cIuck-cIuck- clack of manual typewriters hIIs LIe uIr. We sLIII Iuve our regular customers. But some- day computers will replace all oI LIIs. Myanmar today feels caught between centuries. A clerk next to Nwe Sanda paused uL Ier LypewrILer, pIcked up her smartphone and browsed Facebook. Shiny new cars pass her sLuII, wIIcI sILs In IronL oI u moss-covered, hve-sLory BrIL- ish colonial building that is so dilapidated that large plants grow out of cracks in the facade. To tourists who hail from more orderIy, sunILIsed socIe- LIes, Myunmur`s sLreeL IIIe cun be charming. On LIe sIdewuIks oI Yungon, rudIsIes ure sIredded, corn Is sLeumed, coconuLs ure IoIIowed out and stalks of sugar cane are crusIed InLo juIce. Vendors seII knickknacks. On one stretch of sIdewuIk, LIey Iuwk Leucups, used knIves, CIInese-mude pIusLIc Loys, Lwo Lypes oI ruL poison and a large pile of dusLy, secondIund TV remoLe controls. TIe sLreeLs ure cucopIonous, crowded and colorful. But the charm is lost on some here. It Is more IIke desperuLIon, suId U Suy TIu, wIo Ius mude rub- ber stamps on a Yangon street corner for the past decade. No one would choose to work on LIe roudsIde, suId Suy TIu, who tries to support his wife and children on an income of about $200 a month. We wouId preIer Lo be Indoors. It took him almost a year to master the art of hand- curvIng rubber sLumps, wIIcI companies used for decades to gIve LIeIr correspondence un omcIuI ImprImuLur. BuL hndIng cusLomers Is geLLIng Iurder, Suy Thu said. He works with his buck Lo u wuII LIuL Is covered In green fungus across the street Irom SuIe Pugodu, LIe goIden Buddhist shrine in central Yangon. My proIessIon Is In dunger, he said. Its hard to make ends meeL. A few blocks away is another trade that seems bound for obsolescence: the ice water IudIes wIo oer Lo quencI LIe thirst of customers with a block of ice that drips through a sock into a pitcher of water. Two wrinkled women compete for business by clanging metal cups LogeLIer. TIeIr muIn LIreuLs, convenIence sLores LIuL seII boL- LIed wuLer, ure openIng ucross the country. IIe In Yungon Is movIng Indoors. nvesLors puved over u huge cemetery a few years ago und buIIL JuncLIon Squure, u giant shopping mall. Omce buIIdIngs und IoLeIs are under construction across the city. Air-conditioned su- permarkets carry delicacies like RoqueIorL cIeese Irom runce und uppIes Irom LIe UnILed States. Once u reIuLIveIy scurce Iuxury, uIr-condILIonIng Is everywIere now, In LIe Iorm of newly imported cars. After decades when buying a car was beyond the reach of all but the weuILIy, LIe governmenL Ius uIIowed u ood oI ImporLs. A sIgnIhcunL porLIon oI Yun- gons population now spends lots of time shielded from the LropIcuI IeuL - In Lrumc jums. The new cars replaced what populated Myanmars streets before the country opened up: decudes-oId Jupunese-mude cars held together by the inge- nuity of mechanics who welded LIeIr own spure purLs, und used needles and thread to repair torn engine hoses. But those resourceful me- chanics can barely contain their bumemenL us LIey sLure under LIe Ioods oI LIe new curs, In which microprocessors control everyLIIng. L`s u bIg probIem, suId U Zuw Ye WIn, wIo IusL yeur IeIped open EngIne DocLor EngIneerIng, u compuny LIuL trains old mechanics in the ways of modern autos. Four decudes oI udvunces In uuLomo- LIve LecInoIogy Iuve cuscuded InLo LIe counLry over LIe pusL two years. Myanmars mechan- Ics, IIke greuse-monkey RIp Vun WInkIes, ure LryIng Lo grusp LIe hner poInLs oI compuLer diagnostics. Zuw Ye WIn, wIo wus LruIned Lo be u mecIunIcuI engIneer, Is a good example. He spent 12 years as a political prisoner for deIyIng LIe mIIILury junLu und was released during an amnesty in 2011. When he emerged from juII, Ie Iud never senL un emuII, owned a mobile phone or used a web browser, IeL uIone GoogIe. He Ius quIckIy cuugIL up. Many mechanics dont know Iow Lo use u IupLop, Ie suId. We expIuIn IL sIowIy. The New York Times Myanmar Summary The typewriting business is bad. We still have our regular customers. But someday computers will replace all of this. Thandar Tun waits for customers at a pubIic caII ofce (PCU) phone shop in Yangon. J a s o n
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REGIONAL BIZ 13 December 5-11, 2013 Myanmar Summary From page z... (Myanmar Modernises) Myanmar Business Today www.mmbiztoday.com Si nga por e Woos MNCs t o Bui l d Up 3D Pr i nt i ng Se c t or Commercial applications in aerospace, medical technology sectors can take of in Spore Teh Shi Ning T Ie SIngupore EconomIc DeveIopmenL Bourd (EDB) wunLs muILInu- tional companies to pick Singa- pore us LIe IocuLIon Ior deveI- opIng D prInLIng und uddILIve manufacturing applications for their businesses. Were not ready to announce unyLIIng yeL, buL we`re quILe conhdenL oI beIng ubIe Lo un- nounce some good progress In LIuL spuce soon, EDB`s managing director Yeoh Keat CIuun suId In un InLervIew wILI Business Times. TIougI excILemenL over per- sonal 3D printers for hobbyists and the 3D printing of iPhone covers uL Iome muy be neurIng LIe peuk oI LIe Iype curve, LIere Iuve noL been LIuL muny large-scale commercial applica- LIons worIdwIde, Ie suId. BuL EDB beIIeves SIngupore Is one location where commercial uppIIcuLIons muy Luke o und dIsrupL, posILIveIy, key secLors such as aerospace and medical technology. If any country is In u good posILIon, IL Ius Lo be SIngupore, YeoI suId. 3D printing is also known as uddILIve munuIucLurIng becuuse LIe LecInoIogy InvoIves buIId- Ing soIId, LIree-dImensIonuI objecLs by deposILIng und IusIng together layers and layers of pIusLIcs, meLuIs or oLIer muLerI- uIs uccordIng Lo very precIse digital models. TIIs Is udvunLugeous Ior In- dusLrIes wILI compIex purLs, us it eliminates the need to cut or drIII, reducIng wusLuge oI muLe- rIuI. However, sucI IndusLrIes musL be IIgI-vuIue ones us LIe uddILIve munuIucLurIng process remuIns quILe sIow. Two IndusLrIes hL LIIs bIII weII and are strong clusters in Sin- gapore: aerospace and medical devIces. YeoI suId, L Is noL jusL LIuL the aerospace companies are Iere, LIey Iuve been Iere Ior u wIIIe. BuL, we now Iuve un increasing number of them doIng munuIucLurIng, doIng deveIopmenL work. RecenLIy, LIe Agency Ior ScI- ence, TecInoIogy und ReseurcI (A*Star) announced a new progrumme Lo deveIop uddILIve manufacturing technologies for LIe uerospuce, uuLomoLIve, oII und gus, murIne und precIsIon engineering sectors. The $15 million 3D printing technolo- gies fund will be split among sIx projecLs underLuken by Nunyung TecInoIogIcuI UnIver- sILy (NTU) und LIe SIngupore Institute of Manufacturing Technology (SIMTech). n AugusL, NTU und LIe SIngupore UnIversILy oI TecI- noIogy und DesIgn (SUTD) seL up u joInL Iub Ior D prInLIng research. Prime Minister Lee Hsien Loong also spoke during LIe NuLIonuI Duy RuIIy ubouL D prInLIng oI bone LIssue scuoIds deveIoped by ASLur, wIIcI Iuve been commercIuIIsed Ior Siam Commercial Bank Aims for 2014 Loan Growth Of 9-10pc Manunphattr Dhanananphorn S iam Commercial Bank Pcl (SCB), TIuIIund`s LIIrd- IurgesL Iender by usseLs, said last week it is aiming for loan growth of 9-10 percent in zo1q, sIower LIun ILs LurgeL oI 10-12 percent this year. SCB expects loan growth Ior LIe overuII bunkIng secLor Lo IIL 8-q percenL nexL yeur, based on assumption that the countrys economy will grow of q- percenL, PresIdenL KunnIkur Chalitaporn told reporters. TIe Iender, wIIcI Iud Ioun growLI oI 1z percenL In LIe hrsL nIne monLIs oI LIIs yeur, pIuns to sell at least $500 million to $1 bIIIIon bonds beIore LIe US ederuI Reserve sLurLs LuperIng ILs QE progrum, sIe suId. Reuters use by dentists by home-grown hrm BIo-ScuoId nLernuLIonuI. And NTU unnounced In Sep- tember that it would build a $30 mIIIIon uddILIve munuIucLurIng cenLre, Iunded by EDB. A*Star said that the global uddILIve munuIucLurIng murkeL could grow to an estimated $1o.8 bIIIIon by zoz1, cIose Lo hve LImes LIe $z.z bIIIIon In zo1z, Ied by uuLomoLIve, medI- cal and aerospace applications. Business Times Myanmar Summary ~.:,_.._:e_e.~.~~. ~_ .:.. :~,~.~._..~ , ~ . . . .:. ~.,_e ._ ..~.._..:.~... ~ ~....:.~. . . .:.~ ._.. . ..~: ~~,~:. 3D printing . . . q, ~~ ~ ~:, . ~ .:_~._ . . ~:. . .. :..q.e_e.~.~~.~~ e ~._ . (EDB). ~_._ _._ . q: ~ ~._.. ~ . . ~ ..: q ~ ., _~._ ~ . ~ .:.~:.. ~:. . ~ 3Dprinting. . , ..:.~:...: q~ ... ._~:..q._. EDB - .,.,..|,~~: Yeoh Keat Chuan ~ Business Times. .~ . ..._., .. ~ , .~ ~.,_e ~. . ~. q:~ ~ _., ._~ _:q, ~. ._ e. .....: ._ .. _~:.~.,~~.~.~~.~._.~ .,.~:..:.~ ~_.,.:.... ._ e e _~_ ._~: .._.:_~:.. ._ . EDB . e_~_:.._.: .~:..~ ... :..q..., ..:. ..~._.~..:q~ . ._ .,q: ~. . _e. _. . ..e: ~_ ..:~ . . ...~|.,_ .._:~. ~.~..,. .:.~:. ..: q ~ . ._ .,q:~. . _e. ._~:. .q._. . ~:. . ~.,_e 3D. . , ..:. ~:...: q ~ . ._ .,q:.~: . ~. . _e. ._~:., .~~. ~.:._ .: . ._.. _e.._. 3D printing ~:. additive manufacturing e . _~._ . 3Dprinting..: q ~ .:. . ._~: .._..:. ... .~...~:...: . . .. , . . ...:~. ~ ~. . .:..|~ ._ .~ . ~ ~ , .:.~ _e~~_.. ~..|~.e:~ _. .~. q ._ ~ ~ ..: q ~ .q:.. ~ .,~,.~.:.. ._._._e.._. A picture shows gures that were created by means of 3B printing in BerIin. The gures are 3B printed representations of the originaI modeIs that were recorded with 3D scanning technology by Gismo at the Raumfahrtagentur hacker space in Berlin. T h o m a s
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December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com REGIONAL BIZ 14 Myanmar Summary Asian Airlines to Give Flight Plans to China After Airspace Zone Created Airlines forced to acknowledge Chinas authority over new zone; Zone covers area about two-thirds the size of the UK; Beijing in war of words with Tokyo, Washington Ben Blanchard and Tim Kelly A sIun uvIuLIon omcIuIs said airlines would Iuve Lo InIorm CIInu oI IgIL pIuns beIore enLerIng uIrspuce over wuLers dIspuLed wILI Jupun, IorcIng currIers Lo acknowledge Chinas authority over u newIy decIured AIr De- Iense denLIhcuLIon Zone. China published coordinates Ior LIe zone In LIe penuILImuLe week oI November. TIe ureu, ubouL Lwo-LIIrds LIe sIze oI LIe UnILed KIngdom, covers mosL oI LIe EusL CIInu Seu und LIe skIes over u group oI unInIubILed islands at the centre of a bitter row beLween BeIjIng und Tokyo. Jupun und ILs cIose uIIy, LIe UnILed SLuLes, sIurpIy crILIcIsed LIe move, wIIcI experLs suId was aimed at chipping away at Tokyo`s cIuIm Lo udmInIsLruLIve conLroI over LIe ureu IncIudIng the tiny uninhabited islands known us LIe Senkuku In Jupun and the Diaoyu in China. While China said the new ruIes wouId noL uecL normuI operuLIons Ior InLernuLIonuI IgILs, IL udded LIuL IL wouId Luke deIensIve emergency meusures uguInsL uIrcruIL LIuL IuIIed Lo IdenLIIy LIemseIves properly. CIInu`s IuLesL move couId IeIp spreud LIe vIew LIuL Jupun wus IosIng udmInIsLruLIve conLroI oI LIe ureu, suId HIroko Muedu, reseurcI IeIIow uL Jupunese think-tank the PHP Institute. China has already been send- ing its ships (there). It is clear China is trying to undermine Jupun`s udmInIsLruLIve conLroI. Now they are stepping up their eorL In LIe sky us weII, Muedu said. Jupun proLesLed LIe move, warning of an escalation into LIe unexpecLed II BeIjIng en- Iorced LIe ruIes. US SecreLury oI SLuLe JoIn Kerry urged CIInu to exercise restraint. While Washington does not take a position on the sovereIgnLy oI LIe IsIunds, IL recognIses LIuL Jupun Ius ud- mInIsLruLIve conLroI over LIem and is therefore bound by treaty Lo deIend Jupun In LIe evenL oI un urmed conIcL. n u conLInuIng wur oI words, Chinas Defence Ministry said on Monday last week it had Iodged proLesLs wILI LIe US und Jupunese embussIes In BeIjIng over LIe crILIcIsm Irom WusI- IngLon und Tokyo oI LIe zone. A LrunsporL mInIsLry omcIuI In Seoul said South Korean planes yIng In LIe new zone wouId noLIIy CIInu`s cIvII uvIuLIon uuLIorILIes oI LIeIr IgIL pIuns. YI SIIn-Juung, depuLy dIrec- Lor oI LIe uIr-Lrumc servIce dIvIsIon oI LIe TuIwun CIvII AeronuuLIcs AdmInIsLruLIon, said Taiwanese carriers would Issue sImIIur noLIhcuLIons, buL wouId noL be requIred Lo udjusL IgIL puLIs. An omcIuI uL LIe Jupun CIvII AvIuLIon Bureuu suId Jupunese uIrIInes yIng LIrougI LIe re- gion to non-mainland Chinese destinations would likely need to inform China of their plans. AIrIInes Iuve been udvIsed Lo Luke greuLer cure In LIe ureu, suId unoLIer bureuu omcIuI. Korean Air said Chinas proc- IumuLIon meunL IgIL pIuns wouId Iuve Lo be deIIvered Lo Chinese authorities but the routes its pilots took would not be uecLed. A spokeswoman for Qantas Airways Ltd also said Qantas air crew wouId Iuve Lo compIy wILI the new rules when operating in LIe uIr spuce In quesLIon. Jupun AIrIInes und ANA HoIdIngs suId LIe zone Iud noL uecLed LIeIr IgILs LIrougI the area. Asia and Western diplomats suId LIe zone wus u probIem Ior Jupun, LIe UnILed SLuLes und other countries that may be wary of any acknowledgement oI CIInu`s cIuIms over LIe ureu. No one wants to be in a posi- tion where by following Chinese InsLrucLIons you ure gIvIng LucIL ucknowIedgemenL oI LIeIr sov- ereIgnLy over u dIspuLed ureu, one Asian diplomat said. And there is a fear that is precisely the game that is being played it seems no accident that the disputed Senkaku islands are now In LIe IeurL oI overIuppIng zones. Jupun Ius ILs own AIr DeIence denLIhcuLIon Zone buL oI- hcIuIs suId Tokyo onIy requIred aircraft seen to be approaching Jupunese LerrILorIuI uIrspuce Lo IdenLIIy LIemseIves. 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CIInu Seu, wIIcI Is beIIeved to be rich in oil and gas. The PIIIIppInes, VIeLnum, MuIuysIu, Brunei and Taiwan also claim purLs oI LIe SouLI CIInu Seu, making it one of the regions bIggesL usIpoInLs. Reuters A group of disputed islands, Uotsuri island (top), Minamikojima (bottom) and Kitakojima, known as Senkaku in Japan and Diaoyu in China is seen in the East China Sea. Japan and its ally the United States sharply criticised China's move to impose new rules on airspace over islands at the heart of a territorial dispute with Tokyo, warning of an escalation into the "unexpected" if Beijing enforces the rules. K y o d o / R e u t e r s China has already been sending its ships (there). It is clear China is trying to undermine Japans administrative control. Now they are stepping up their effort in the sky as well. REGIONAL BIZ 15 December 5-11, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com China Local Govt Debt at Manageable Levels, Though Some Risks Xiaoyi Shao C IInu`s IocuI governmenL debt is at a controllable IeveI uILIougI rIsks ure increasing in some areas and projecLs due Lo u Iuck oI Lruns- purency, u hnunce mInIsLry oI- hcIuI uL u LIInk Lunk wus quoLed us suyIng by LIe om cIuI PeopIe`s Daily. JIu Kung, Ieud oI LIe ReseurcI nsLILuLe oI IscuI ScIence, suId in comments published last week LIuL LIe overuII debL oI Chinas public sector accounts for about 50 percent of the counLry`s GDP, wILIIn u suIe IeveI. CIInu`s IocuI governmenL debL Ius surged us credIL owed into the building of public in- IrusLrucLure. Poor governmenL dIscIosure on debL IeveIs Ius IurLIer uggruvuLed concerns ubouL LIe Lrue sIze oI LIe debL. We still need to wait for this yeur`s uudIL resuILs. Even II LIe total debt ratio of the public sec- Lor Ius Increused, IL sLIII wouId noL surpuss IeveIs wurnIng oI dunger subsLunLIuIIy, JIu suId. He was referring to interna- tionally accepted ways of meas- urIng ouLsLundIng governmenL debt as a percentage of GDP und hscuI dehcILs us u percenL- age of GDP. CIInu`s AudIL Om ce suId In JuIy IL wouId conducL un uudIL oI uII governmenL debL uL LIe requesL oI LIe cubIneL, buL LIe resuILs Iuve noL yeL been published. JIu uIso wurned LIuL CIInu could not lower its guard on potential risks arising from hnuncIuI sLruIn In some ureus und projecLs. TIere Is sLIII reIuLIveIy IIgI accumulation of risks in some ureus und projecLs. We sIouId Luke prevenLIve meusures uL un eurIy sLuge, JIu suId, wILIouL gIvIng more deLuIIs. BeIjIng Ius repeuLedIy pIuyed down Ieurs ubouL IocuI govern- ment debt and insists systemic probIems ure unIIkeIy. Om cIuI hgures sIowed IocuI govern- ment debt reached 10.7 trillion yuan ($1.76 trillion) by the end of 2010. Reuters ~. .,q:.:.. . . ~ , ..:.~ . .._..:. .q_..._~: .,.:.q . q._ ~._.~.,.:. . . .:._.:..: ..: ._. ~, ~ . -_._ ~ .~. .q ._~._. ..:~. , ... . .,._ ~.~ q .,...._~:. .q._. Research Institute of Fiscal Science . ~_~.~~ _e. . JiaKang ~ ~, ~ . ~.:._._ . ~_ ._~._. ..:~. . . . ..| ._._ ~ . ~ ~ , - ~ q:. . , ., ..|.. q .,._~: . ._.:_~:..._. ~,~.- _._~.~..q._~._. .:. _. ~~ .:. . : ~.:._._ . ~._.. ~..:~ ~~ .:. ..:~ . . . .:. ._~:_e._.. ~..q~.,_e ._~._. ..:~~ . . ._. .:. q . : ..e:_. _..~ ~.,~~e ._~._...:~. .~.~_ ..q...:.~ ....q:..: ...._. ~,~.- .:q...,.. ~.. ~ ._.:_~:..~~q ~..q~,_~. ~e - .~: .. .~ ~q ~. .q._~._. .:.~:...~~~ .:q......_.. ~..~ _....:.eeq._~:. ._.: _~:.. ..: ._ . q.. .:.~:. ~ _., . .q...._~:.._. .q._. A model displays a Samsung Galaxy smartphone. Samsungs Marketing Splurge Doesnt Always Bring Bang-For-Buck R e u te r s Miyoung Kim S umsung EIecLronIcs Co Is expected to spend around $14 billion more than ceIund`s GDP - on udverLIsIng und murkeLIng LIIs yeur, buL IL doesn`L uIwuys geL vuIue Ior money. The outlay buys the South Korean technology giant pub- IIcILy In TV und cInemu uds, on bIIIbourds, und uL sporLs und urLs evenLs Irom LIe Sydney Operu House Lo New York`s Ru- dio City Music Hall. Google Inc spent less on buying Motorolas handset business. Sumsung, wIIcI Ius u murkeL vuIue oI $zz; bIIIIon, Ius mude no secret of keeping up its ag- gressIve murkeLIng und promo- tion splurge as it seeks to make its brand as aspirational as Apple Incs. But the money its spending doesnt always bring the desired result. usL monLI, u Sumsung- sponsored sIorL-hIm conLesL hnuIe uL LIe Sydney Operu House receIved poor revIews Ior blatant product placement in a serIes oI 'beIInd LIe scenes` vId- eos. n BrILuIn, vIewers punned a product placement deal with TV`s popuIur X-ucLor LuIenL show. Is this a singing compe- tition or an extended Samsung udverL? usked TwILLer user Ryun Browne. EurIIer LIIs yeur, Sumsung`s New York launch of its lat- est top-of-the-range Galaxy smurLpIone cume under hre Ior beIng sexIsL, porLruyIng gIggIIng women cIuLLIng ubouL jeweIIery and nail polish while the men dIscussed LIe new pIone, und the companys new fridge and washing machine launch in South Africa drew similar com- plaints as it featured swim-suit dancers. Samsungs marketing is too mucI Iocused on projecLIng an image they aspire to: be- Ing InnovuLIve und uIeud oI LIe puck, suId OI Jung-suk, associate professor at the busi- ness school of Seoul National UnIversILy. TIey ure IuIIIng Lo em cIenLIy brIdge LIe gup between the aspiration and how consumers actually respond to the campaign. Its got to be more uIIgned. Samsung spends a bigger cIunk oI ILs unnuuI revenue on udverLIsIng und promoLIon than any other of the worlds top-20 companies by sales 5.4 percenL, uccordIng Lo TIomson ReuLers duLu. AppIe spends jusL o.6 percenL, und GeneruI Mo- tors 3.5 percent. When your brand doesnt Iuve u cIeur IdenLILy, us Is LIe cuse wILI Sumsung, Lo keep spending is probably the best sLruLegy, suId Moon JI-Iun, head of brand consultant Inter- brands Korean operation. But maintaining marketing spend uL LIuL IeveI In LIe Ionger Lerm wouldnt bring much more ben- ehL. No one cun beuL Sumsung In Lerms oI (ud) presence, und doubL wIeLIer keepIng InvesL- Ing uL LIIs IeveI Is eecLIve. n u sLuLemenL Lo ReuLers, Samsung said it will continue Lo Ieveruge our brund power Lo muInLuIn growLI momenLum, while focusing on optimising LIe em cIency oI our murkeLIng ucLIvILIes, reILeruLIng recenL commenLs by ILs co-CEO. Our producL InnovuLIon und murkeLIng sLruLegy Iuve mude Samsung the worlds most preIerred smurLpIone brund, JK SIIn, wIo uIso Ieuds LIe group`s mobIIe busIness, LoId InvesLors recenLIy. Now we`II move Irom LIe mosL preIerred brand to become one of the worlds leading aspirational brunds. Sumsung`s 'NexL BIg TIIng,` und 'L`s TIme Lo CIunge` mur- keting campaigns stress that ILs producLs ure cuLLIng-edge, und even LrumpeL ILs LecInoI- ogy 'worId hrsLs` beIore LIey`re reudy Ior prIme LIme, sucI us curved smurLpIones, uvuIIubIe onIy In SouLI Koreu, und curved TVs LIuL cosL neurIy $1o,ooo. For a company long seen as a IoIIower, LIIs Is now u bIg seII on IL beIng un InnovuLor. Contd. P z8...(Samsung) December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com REGIONAL BIZ 16 Myanmar Summary Maid in Singapore: Will Cambodian Domestic Workers be Better Protected? Kevin Ponniah T hol Srey Mach is one of 400 women taking part in a pilot scheme that is sending Cambodian domestic workers to Singapore. TIere ure more LIun zoo,ooo foreign domestic workers on LIe IsIund, und II LIe LrIuI goes well it could open the way for a new source of labour to sate the umuenL cILy-sLuLe`s uppeLILe Ior household help. WILI LIuL In mInd, Srey MucI, z6, und dozens oI oLIer young women Iuve been prepurIng by scrubbIng oors, buLIIng plastic babies and brushing up on LIeIr EngIIsI uL u CumbodIun recruitment centre. TIe uILernuLIve Lo goIng over- seas for many of these women would be working in a garment IucLory - u job LIuL puys ubouL $75 per month. Srey MucI, wIo Ius worked In MuIuysIu, cun expecL Lo eurn about $360 a month in Singa- pore, ugenLs suy, LIougI Ier salary will ultimately depend on murkeL Iorces, wILI no guaranteed minimum wage. n zo11, LIe CumbodIun governmenL sLopped sendIng domestic workers to Malaysia uILer u serIes oI rIgILs ubuses, IncIudIng conhnemenL, beuL- ings and sexual exploitation emerged. Two Cambodian agencies participating in the Singapore scheme were alleg- edly implicated in some of those cases. TIe CumbodIun governmenL Ius suId IL beIIeves ILs workers will be better protected in Sin- gapore. But rights groups point to large placement fees and a lack of guaranteed rest days as potential welfare issues. Although Singapore has recenLIy munduLed u weekIy o- duy Ior muIds, empIoyers ure allowed to pay workers extra in lieu of a rest day if they agree. or un exLru $1 u week, Srey Mach says she wont take a day o: don`L know wIuL wouId do on un o-duy. We wunL Lo work more so we can get more money. Cambodian workers rights udvocuLes ure uppeuIIng Lo Singaporeans to pay the place- menL Iees, wIIcI oLIer source counLrIes, sucI us LIe PIIIIp- pInes, InsIsL empIoyers beur. Singaporeans complain that LIey uIreudy Iuve Lo puy $z1 u monLI In Luxes - u muId Ievy - us weII us u $q,oo bond Lo Iuve u IouseIoId worker. The Cambodian women will Iuve uImosL uII oI LIeIr suIurIes deducLed durIng LIeIr hrsL sIx monLIs oI work, Lo repuy u $1,qo Ioun Luken ouL Lo cover agency fees. If the worker re- Lurns Iome premuLureIy, sIe will still be tied to the loan. n SepLember, LIe MunIIu- based Association of Licensed RecruILmenL AgencIes Lo SIn- gapore (Alras) stopped sending domestic workers to Singapore in protest against salary deduc- LIons und pIucemenL Iees, wIIcI are illegal under Filipino law. SInce AprII zo11, SInguporeun law has set a two-month cap on fees that local agencies can de- duct from a workers salary. But despILe LIe Iuws, some SIngu- pore und IIIpIno ugencIes Iuve continued to deduct salaries for up Lo eIgIL monLIs, suId ucy SermonIu, presIdenL oI AIrus, which represents 110 Filipino agencies. It is high time we think about the welfare of the IouseIoId servIce workers, sIe said. Singapores ministry of man- power told the Guardian it had Luken u hrm sLunce uguInsL ex- cessIve recruILmenL Iees, wILI Ieuvy penuILIes Ior oenders. We urge |ugencIes| Lo compIy wILI requIremenLs Imposed by source-counLry governmenLs . However, SIngupore Is noL ubIe to enforce the laws of another counLry, u spokesperson suId. SIngupore`s empIoymenL ucL, which regulates working condi- LIons, does noL cover domesLIc workers. Although workers welfare has Improved over LIe yeurs, pIuce- menL Iees Iuve Increused In LIe pusL decude, suId JoIn Gee from Transient Workers Count Too, u SIngupore NGO. BeIore LIe AsIun hnuncIuI crIsIs IL wus pretty normal for Singapore employers to expect to pay for LIe pIucemenL cosLs, Ie suId. TIen ugencIes begun udverLIs- Ing '$o muIds`, und LIe cosL wus transferred to the worker and LIose cosLs Lended Lo go up. The Philippines is the only AsIun counLry Lo Iuve ruLIhed the landmark International La- bour OrgunIsuLIon convenLIon on domesLIc workers, wIIcI - among other rights protections bans salary deductions to pay placement fees. Manilas tough stance has pushed up demand for domestic workers Irom oLIer counLrIes, Gee suId, wILI SInguporeun em- ployers knowing it will be harder to get Filipino workers to forfeit LIeIr resL duy. TIe |empIoyers| know the Filipinos will stand LIeIr ground, und LIey`ve goL governmenL buckIng, Ie suId. Workers from poorer countries such as Burma are marketed us docIIe, Ie udded. WIen they talk about workers in these Lerms, IL`s u IIcence Lo expIoIL. They wont complain and will do what they are told There is LIe sume Imuge, `m uIruId, wILI workers Irom CumbodIu. Gury CIIn, munugIng dIrec- Lor uL NuLIon EmpIoymenL, un ugency In SIngupore, suId Filipino workers share of the market had plummeted from 90 percent two decades ago to 20-30 percent today because LIey were Loo expensIve. I |empIoyers| wunL Lo puy Iess, they will turn to those countries that still allow their maids to SIngupore und ure |puyIng| LIe pIucemenL Iees, IIke Burmu, ndonesIu und CumbodIu, CIIn said. 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The Cambodian government has said it believes its workers will be better protected in Singapore. But rights groups point to large place- ment fees and a lack of guaranteed rest days as potential welfare issues. Susan, a 36-year-old maid from the Philippines, works at her employer's house in Singapore. About half of Singapore's 170,000 foreign maids do not have a rest day according to the Unitied Nations Development Fund for Women (UNIFEM). V iv e k
P r a k a s h / R e u t e r s REGIONAL BIZ 17 December 5-11, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com Changed Weekend Irks Business Community in Johor Oliver Slow T he decision to change weekends to Fridays and Saturdays in the southern MuIuysIun sLuLe oI JoIor Ius been met with a mixed reac- tion in the regions business community. usL week, IL wus unnounced LIuL sLurLIng Irom Junuury 1, zo1q, In JoIor - wIIcI borders SIngupore Lo LIe souLI - gov- ernment departments would work on Sundays instead of Fri- day in order to allow Muslims to Iuve more LIme Ior LIeIr rIduy prayers and also to encour- age families to include their children in the Friday prayer servIce. However, IL wus reveuIed LIuL prIvuLe secLor compunIes Iuve the choice of either following LIe rIduy-SuLurduy weekend, or conLInuIng Lo observe LIe more traditional Saturday- Sunday weekend. JoIor BuIru CIInese CIum- ber of Commerce and Industry president Loh Liam Hiang said export-oriented and trade compunIes wouId suer, even if they chose to stick with the Saturday-Sunday weekend. n LIe evenL LIuL LIe prIvuLe secLor conLInues Lo observe Saturday and Sunday as the weekend, LIere wIII be unoLIer probIem. TIey wIII onIy Iuve four days per week to go to governmenL depurLmenLs und ugencIes, wIIcI wIII cIose on rIduy sLurLIng nexL yeur, Ie told New Straits Times. ExporL-orIenLed IndusLrIes and trading companies may Iuve Lo muke some udjusLmenLs In order Lo geL mInImuI neguLIve impact from the change in rest duys, Ie suId, uILIougI wILIouL uddIng wIuL LIose udjusLmenLs would be. MeunwIIIe, busInesspeopIe in neighbouring Singapore that Iuve InLeresLs In LIe regIon, Iuve crILIcIsed LIe decIsIon. Ho Meng KIL, CEO oI SIngupore BusIness ederuLIon (SB), wIose members Iuve busIness InLeresLs In ILs neIgIbour, suId LIe move couId muke JoIor Iess uLLrucLIve us un InvesLmenL destination. TIe move wIII muke conducL- Ing busIness more InemcIenL. or exumpIe, II you Iuve u SIn- gupore compuny wILI u JoIor subsIdIury, LIere wIII onIy be four working days. If you are going to transfer goods and ser- vIces beLween LIe IeudquurLers und LIe subsIdIury, you couId onIy do IL on Iour duys, Ie suId. One Singaporean business- mun, rederIck CIong, wIo operates a real estate business in Singapore with businesses in JoIor, ugreed LIuL IL wouId be u problem. This is a waste of three days. TIIngs muy be dIerenL II SIngupore uIso IoIIows JoIor on LIe new resL duys, buL LIIs Is ImpossIbIe. Another Singapore-based enLrepreneur, CY CIIng, u handphone dealer who operates Lwo bruncIes In SIngupore, suId that might need to force some of his workers in Singapore to work overLIme on Sunduy In order to liaise with branches in JoIor wIIcI wouId drIve up IIs costs. However, uuLIorILIes Irom JoIor urgued LIuL LIe move wouId noL Iuve u bIg ImpucL on the economy and that in areas oI LourIsm, couId Ieud Lo posI- LIve eecLs. JoIor Buru Is uIreudy u zqJ; cILy, meunIng LIuL mosL busI- nesses operate almost 24 hours u duy In sIIILs und seven duys u week. The change in rest days is not much of a downside. More ImporLunLIy, IL wIII noL Ieud Lo u Ioss In busIness, suId skunder Malaysia Chamber of Com- merce und ndusLry udvIser Tun Sri Shahrir Samad. TIe buIk oI LourIsLs Lo JoIor are from Singapore and other neIgIbourIng counLrIes, wIo usuuIIy vIsIL durIng LIe week- ends. With the states weekly o duys cIunged Lo rIduy und SuLurduy, LIese IoreIgn LourIsLs need not crowd into our theme parks and shopping malls with LIe IocuIs, suId MuIuysIun Tour Guides Council President JImmy eong. Former Malaysia Prime Min- IsLer Dr MuIuLIIr MoIumed, who ruled the country from 1q81 Lo zoo, Iud LrIed Lo esLub- lish a standard weekend for the counLry, buL wus unsuccessIuI. He wrote about his attempts in his memoirs A Doctor in the House, wIIcI wus pubIIsIed In 2011. I prefer a Sunday weekend because working while nobody eIse Is In LIeIr omce In LIe resL of todays globalised world is InconvenIenL und unproduc- LIve, Ie wroLe. He added that a Sunday week- end is generally practised due to the religious connotations In CIrIsLIunILy und JuduIsm Lo observe LIe SubbuLI on LIuL duy, buL In sIum`s IoIy book, LIe Qurun, LIere Is no uspecL oI IuvIng Lo resL on rIduys. Choosing Friday as a day of rest was a decision made by people who wanted to empha- sIse LIe dIerence beLween sIum und CIrIsLIunILy, Ie suId. JoIor BuIru prevIousIy oper- ated a Friday-Saturday week- end, buL In 1qqq reverLed Lo LIe SuLurduy-Sunduy modeI. Ive other states in the country oper- ate a Friday-Saturday weekend. The city of Johor Bahru, capital of Johor, Malaysia. The move will make conducting busi- ness more inefcient. For exampIe, if you have a Singapore company with a Johor subsidiary, there will only be four working days. If you are going to transfer goods and services between the headquarters and the subsidiary, you could only do it on four days. S a m
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Singapore Business Federation (SBF) - .~.~ Ho Meng Kit ~ e.~.._ J ohor _._,e~ q..._.......q: ~.q..:.~ .~~.:...:. ..:,_..:..... .__e.._~:. ._.:_~:..._. e.~._.:.~.._ ..,..:. ~:. ~~..~.q:~.~ ~:.,_. .....__e._.. ..:~:._e J ohor ~ ..,..q..: .~:.~.~ ~..~.,_e ~..~. ...q~ .: ~....~q~q._~:. ~._. .~,.. ..,...:.~_~:. ~,._ . ~,..:..:.~:. ...:q:~ ...q~.: ....:.,q._~:. ._ . , .~ .~ .~ ._.:_~:.. ._ . Johor ~ . . , ..:.q ..: . ~:. . . . :. .q. . . , . q ~. . _ e. ._ Frederick Chong ~._. ~..| ~:...q~.~.~.. : _..,:~. q._e..:eeq._~ .~.._~:. .q._. December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com INTERNATIONAL BIZ 18 Myanmar Summary Contd. P 19...(\S ]obs) Bitcoin enthusiast Mike CaIdweII poses at his ofce in Sandy, Utah. CaIdweII produces physicaI coins Bitcoins, which have been around since 2008, and have become a form of electronic money that can be exchanged without using traditional banking or money transfer systems. Bitcoins, touted by some experts as the future of money, gained in prominence during Europe's nanciaI crisis as more peopIe questioned the safety of hoIding their cash in the bank. Bitcoin Price Zooms Through $1,000 as Enthusiasm Grows Wanfeng Zhou T he price of the digital currency bit- coIn soured ubove $1,ooo Ior LIe hrsL LIme on Wednesduy IusL week, extending a 400 percent surge in less than a month that some see as a grow- ing bubble in an asset that is still a mystery to many. Bitcoin hit a high of $1,o; on Tokyo-bused excIunge ML Gox, LIe best-known operator of a bitcoin digital market- pIuce, compured wILI jusL beIow $qoo LIe prevIous day. At the beginning of the monLI, bILcoIn, u promI- nent digital currency that Is noL bucked by u govern- menL or cenLruI bunk, traded at around $215. The spike in its price has some beIIevIng LIuL IL Ius become overvuIued In u sIorL perIod oI LIme, ow- ing to its limited supply and increasing demand. A narrow asset class und IoLs oI IIquIdILy Is LIe perIecL envIronmenL Ior u rupId bursL up In vuIue, und LIen correcLIons, suId SebusLIen GuIy, u cur- rency strategist at Societe Generale in New York. Bitcoin trades 24 hours a duy, every duy. TIe suppIy oI LIe currency, wIIcI Is mIned by soIvIng muLI probIems, Is IImILed, und recently stood at 12 mil- IIon bILcoIns, worLI ubouL $12.9 billion at recent prices. Bitcoin is not backed by physical assets and is not run by any person or group. Ls vuIue depends on peopIe`s conhdence In the currency. I t has been gaining acceptance by the generuI pubIIc und InvesL- ment community but has yet to become an accepted form of payment on the websILes oI mujor reLuII- ers sucI us Amuzon.com. EurIIer In LIe monLI, LIe US SenuLe IeId u IeurIng on vIrLuuI currencIes, wILI some om cIuIs expressIng concern that it is notable for its use in criminal ucLIvILy und LIuL LIere is a lack of regulatory oversIgIL. BuL bILcoIn udvocuLes say the Senate hearing guve more IegILImucy Lo LIe currency, In purL IueI- ling the gains. L Isn`L jusL LIe bILcoIn community saying that bitcoin is used for good things and theres a lot of greuL poLenLIuI. We Iuve members of Congress und governmenL ugen- cIes wIo uII ugree, suId JInyoung ee EngIund, spokeswoman for the Bitcoin Foundation in Washington. BILcoIn Is vuIued by many users for its ano- nymILy. BuL governmenL om cIuIs expressed con- cerns LIuL muny vIrLuuI currency servIces do noL Iuve LIe proper conLroIs In pIuce Lo prevenL IIIeguI ucLIvILIes sucI us money laundering. VIrLuuI currencIes, perhaps most notably BILcoIn, Iuve cupLured LIe ImugInuLIon oI some, struck fear among others and confused the heck out oI LIe resL oI us, SenuLor Thomas Carper told the Senate Homeland Secu- rity Committee earlier this month. n OcLober, IederuI authorities shut down an online marketplace cuIIed SIIk Roud LIuL was used for purchasing drugs and hiring hit men. AuLIorILIes seIzed $.6 mIIIIon worLI oI bILcoIn, which was used instead of cash or credit cards to complete transactions on SIIk Roud. More than 200 bitcoin businesses and other merchants participated in a bitcoin Black Friday sIoppIng evenL, wIere users cun buy everyLIIng from airplane tickets to Christmas trees to organic beer. J im U r q u h a r t / R e u t e r s US Jobs Picture Improving, Manufacturing May Be Slowing Lucia Mutikani T he number of AmerIcuns hIIng new claims for unemployment aid un- expecLedIy IeII IusL week, but continued weakness in business spending on capital goods suggested slower economic growth In LIe IourLI quurLer. I nitial claims for state jobIess benehLs IeII 1o,ooo Lo u seusonuIIy udjusLed 16,ooo, LIe u- bor Department said on Wednesday last week. The second straight week oI decIInes dehed econo- mists expectations for a rIse In cIuIms Lo o,ooo and raised hopes for strong payroll growth in November. We ure uL u IeveI LIuL, II susLuIned, wouId poInL Lo soIId job guIns uIeud. There is also a good chance that the October puyroII guIn muy noL Iuve been un uberruLIon, suId JoeI Nuro, cIIeI econo- mIsL uL Nuro EconomIc AdvIsors In HoIIund, PennsyIvunIu. EmpIoyers udded zoq,ooo new jobs Lo LIeIr puyroIIs IusL monLI, Iur more LIun expecLed, fanning speculation that LIe US ederuI Reserve might start to wind down its economic stimulus sooner rather than later. TIe ImprovIng Iubour market tone has helped to boost consumer senti- ment. The Thomson ReuLersJUnIversILy oI MIcIIgun`s hnuI reudIng on LIe overuII Index on consumer sentiment increased to 75.1 for November, up Irom u hnuI reudIng oI ;.z In October. But while the labour murkeL pIcLure Is hrmIng, businesses appear to be cuuLIous ubouL InvesL- ment spending. A separate report from the Commerce Department showed non- defense capital goods or- ders excIudIng uIrcruIL, u closely watched proxy for busIness spendIng pIuns, dropped 1.2 percent last month. I t was the second monthly decrease in these so-called core capital goods. The data surprised Wall Street economists wIo Iud expecLed u guIn, purLIy becuuse prIvuLe .. . ~e . ._ ~._ e. ..: bitcoin -....,..:..: ., . ._ ~.~ ~ ... .~_~ . ~..q ~, ..'.: ~~~~ ~~ . _.~~.:.._~:. .q ._. ~. ..q ._ ~. , ~:. ~~. ,~~ q:..,.~ _. ~~ .:._ ~~ ~ ~. ~ .. . . , . _ . ~~ .:. ~..' ..q...:.q ._~:. .q._. Bitcoin ._ ...~e ...~ ~ - . . ~.:.. . .~: ..q~:_e. ..: ~ ~ ~._.. ~ Mt Gox ~ ....,.. : ~.. q ~, ..'.: ~~,~ _. ~~ .:. _. . . , . ._ ., ~ ~.. q~, ..'.: ~~.:q . ._~: . .q._. .~..:..~ ~..q .. e~ -e~. ..:q~. ._.._ bitcoin ...~e .._~.~:. ~..q~,..'.: ~ ..'.:_e ~,.e._.. _.. e. ~ . .... , ..:. _. ~~ .:. ._ ~: ~. , ~ ~~ . ~,e..:. ~.,~~_.~~ .:._e ~.~ e_~__~ ._..q:..~:.. : ~~, ~.~_e q.,_.. ~e.~:. .: _ . ~~ .:._ ~~ ~ ~,e..:. ~.,~~_.~~ .:e e q ._~: .._. . q._ . Bitcoin ._ .,. ~.., . , ,:q~,.e. _... .,_.. .q:..~:..: ~~, ~.~_e.: q.,_.. ._~: ....~ .q:..~:..: ~ ..e bitcoins q.~: ~.. q~,..'.: ~. .e ~ ~, e .q ._~:. . q._ . INTERNATIONAL BIZ 19 December 5-11, 2013 Myanmar Summary From page 8...(\s ]obs) Myanmar Business Today www.mmbiztoday.com WTO Talks Fail to Agree on Global Trade Deal Text Tom Miles M arathon talks on the World Trade OrgunIzuLIon`s hrsL- ever worIdwIde Lrude reIorm In Genevu IuIIed eurIy IusL week to agree on a text to put to ministers who meet in Bali in December. The fate of the agreement to streamline customs procedures and speed up global trade could now hang on whether the min- IsLers cun overcome remuInIng dIerences wIen LIey guLIer early next month at the WTOs biennial conference in Bali. The I nternational Chamber of Commerce says the deal would add $960 billion to the world economy and create z1 mIIIIon jobs, 18 mIIIIon oI LIem In deveIopIng counLrIes. L wouId uIso revIve conhdence in the WTO as a forum for trade negotiations. The proposed accord includes elements of the Doha round oI Lrude LuIks, wIIcI begun In 2001 but repeatedly failed to produce un ugreemenL over LIe subsequenL decude. WTO DIrecLor-GeneruI Rob- erLo Azevedo Ius Iorced dIp- lomats from the 159 member countries through a punishing 10 weeks of talks to try to agree a text for the ministers to rubber-stamp. Azevedo suId Ie Ioped Lo cIIncI u deuI over LIe weekend. BuL LIe hnuI Genevu negoLIuLIng sessIon hnIsIed uL ; um wILIouL agreement. Tuco SLoppeIs, u counseIIor uL LIe DuLcI mIssIon Lo LIe WTO, LweeLed LIuL Azevedo cIosed meeting by simply thanking everyone. TexL Is noL reudy. PeopIe InvoIved In LIe LuIks suId negoLIuLors Iud come very cIose Lo u deuI, uILIougI pro- gress at times had been glacial. We spent nine hours on one paragraph this morning. Once uguIn, u neur-deuLI experI- ence, one purLIcIpunL suId. UnresoIved Issues IncIude un I ndian crop stockpiling plan that is exempt from WTO sub- sidy rules and a challenge to the US economIc emburgo on Cubu. Turkey also has concerns about new ruIes on LrunsIL, wIIIe LIere is Central American resistance to demands to stop using cus- toms brokers to handle trade. Reuters Myanmar Summary From page ...(IMF) ,-:.~ _......: ~. :~, .e.q.~e~._._~.- ..... ~ , . e . . q: _._. ._.: .. .q. .......~ ..:~_..:. .qq . ~, _~..:.~.,_e .,:~ . _.. . ._ ~._ .~.~.~ ~ , . e . . q: ..:~_.~qqq,~~~ ~.. ~~ . . .. ... .. :._~q._ ~. q .,._ .~. : ~ , . e . ~ ~ , . e ..q: ._...._.~...:.._~: ~.,._~:_.. ~,._.:. ~.e ~~ . .... ._ ~._.~.,~ ~e, ~~:._e...._~.~~ ._eq._.. ~.:..:.~_~:. ~,.e. ~q, ..._.,.:..q,~~~ q_qe_ .. ... ._~_. ._e. _. . e. ~.| ~ , . e ..q: ~.~~. .~ ~ . ..: ~ _ .~ qq q, ~~ ~ .. ... .q:~ . e . ~~ _e. ..:._ ~ ._. . q ._. ~_ ._ _ ._ . q:~ , ._ _ ~ ..:. ~... ._.:_~:..~~q ~~e_ ~,.e..q: ..:~_.~qq . . ~. : ... :..q.~ ~:.~ ~.. q~,..'.: '~ .e., .. ~ .. :..:._ _ e. _ . . ~. . ~~ ..|. ~ ..e~~._. e,~. .:.._e .q._. VIce PresIdenL Nyun Tun, mIn- IsLer Ior hnunce und revenue U WIn SIeIn und CenLruI Bunk oI Myunmur Governor U Kyuw Kyaw Maung. She is also sched- uIed Lo Iuve u meeLIng wILI opposition leader Aung San Suu Kyi. SIe wIII concIude Ier vIsIL Lo Myanmar by participating in the Myanmar Womens Forum to highlight the role of women in the economy and will also speak to students at the Yangon nsLILuLe oI EconomIcs, M said. TIe M Ius InLensIhed ILs engagement with Myanmar recently following a raft of reforms undertaken by the cur- renL governmenL. TIe Iender udvIsed LIe Myunmur govern- menL on unIIyIng LIe vurIous excIunge ruLes, wIIcI exIsLed durIng LIe prevIous mIIILury re- gImes, Lo InLroduce u munuged ouL currency In AprII IusL yeur. TIe M, uIong wILI LIe Jupunese governmenL, Is uIso currenLIy udvIsIng und provId- ing technical assistance to the Central Bank of Myanmar to overIuuI Myunmur`s dIsmuI hnuncIuI und bunkIng sysLem. n Muy, LIe M suId Myanmars economy would expand 6.75 percent in 2013-14 drIven by gus producLIon und InvesLmenL. On December z-, ugurde wIII be In CumbodIu, wIere she is expected to meet King SIIumonI, us weII us PrIme MInIsLer Hun Sen, DepuLy PrIme MInIsLer KeuL CIIon, und oLIer senIor governmenL omcIuIs. SIe wIII uIso speuk Lo sLudenLs oI LIe RoyuI ScIooI oI AdmInIsLruLIon, und excIunge vIews wILI women busIness leaders and policy makers as weII us LIInk Lunk und prIvuLe secLor represenLuLIves. On December q-, ugurde wIII vIsIL Koreu Lo meeL wILI PresIdenL Purk Geun-Iye, Deputy Prime Minister and Fi- nunce MInIsLer Hyun OI-seok, und Bunk oI Koreu Governor Kim Choongsoo. She will also meeL wILI women Ieuders, und address students at a town hall meeting at Seoul National UnIversILy. n uddILIon, sIe wIII participate in the inauguration oI LIe HeudquurLers oI LIe UN Green Climate Fund and attend a signing ceremony with Deputy Prime Minister and Finance Minister Hyun on Koreas con- tribution to the I MFs capacity building program. 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Myanmar Womens Forum ~ ._ . ~~ .q:~ . :.._ _e. _. . q, ~ , . . :..q.~~ . . _ .~: ..:. .:.~ ._. .~:.._.:_~:.. :.._ _e. ._~: . ~_._ _._ . q: . ._~.q, . .~e. ._.:_~:..._. _.,.:.- .~q~..q. _._. ._.: .. . .:.. :~ _.. . . , . ._~_._ _._ . q: . ._~.q, . . ~e ._ _.,.:.. ...~.~.~.e. .:. _....:.._. ~_.__._. q:.._~.q,..~e. managed foat currency .,. ~:. _., .:. . ~ . ..:q, ~~ ~ ._. ~_~ .~: . .:. ...~..._. ...~ ~_._ _._.q: .._~.q,..~e. ._.: _~:..~~q _.,.:.- ... :..q. ._ ~~,~~, _:.q...~ .:~.:~ . ~ . . . . q .. . _.. . . .:. ~ .~~ .:_ . .._ ~: '. q:..,.~ ~.~~.:.. ._ e ._.:_~:.. ._ . . ~ :. q~.,. , q~.,~ Lagarde ._ ~..:..e:... .~:. , q~.,. q~.,~ ~q.e:. .~_ q.__e.._~:. .q._. Lagarde ._ ~..:..e:... . ~, .~. .q~. ..: .:.. .~ . q, ..:.:... ~q.e:.- .. ~ Park Geun-hye ~_. ~_.:. . ~, .~. ..: .:.. ._ . .~ . q, ..:.,.:.._~:. .q._. surveys oI nuLIonuI IucLory ucLIvILy Iud sIown sLrengLI In October. The picture of manufactur- Ing sLrengLI Irom survey duLu is not being captured in the governmenL-coIIecLed duLu on new orders und LIIs dIvergence Is u puzzIe, suId JoIn RydIng, cIIeI economIsL uL RDQ Eco- nomics in New York. NeverLIeIess, LIe IuLesL reporL suggested some ebbing in the IucLory secLor`s momenLum, and hinted that a 16-day partial governmenL sIuLdown IusL monLI IurL busIness conh- dence. Reuters World Trade Organization (WTO) Director General Roberto Azevedo informs the media about the next ministerial meeting on Bali during a press conference, after the General Council at the headquarters of the World Trade Organization in Geneva, Switzerland. F ile s ~..q ~, . - ~. . ~~ ~. ~... .:. ~ . ~~ .:..: ._ . ~,~...~_. : ~.~~. ... .~......_~:. .q._. .,. ._ ~.~ ~ ~. . ~~ .~ . ~.:~~.~~~_.:. .~:... .: ...:. ~...:..._~:. .q._. ~. . ~~ .~ . _e. .,. .:.~~ ~ ~. .q . ~~ ~_ .~: .. e . . : ...:..q.._:q.:. ..:.,.:.._ ~ ..:~.:.._~:. .q._. ... :..q.._:q.:.~.,_e e. ~ ~..q ~, - ~. . . . . . , .:.. : ~. .. .q . e _. _~..: ._. ...:. ~..~~ .~..,. :. ~...:.._~ .~_..q ._. ~. . ~~ .~ . _e. .,_. .~~ ~ ~. .q . ~~ ~_ .~: .. . . : . , .._~.~~ ..q ~~~~~ ~ ~... :.. _.. ~. .q~~ ~_ .~: .. . ~,q._..q.: ,~'~~~ .,q .__e.._~:. ~..~~..._:,. ._.:_~:.. ._. ...:..q.._:q.:.~.,_e ~..q -~~ ~_ .~: .. . ..q. : ,,~~~~ ~ _.~~.:._e .,.,.._~ ._ .e. ~._.~.,~:. .qq _ ~_ ~ . : ,......._.. ... :..q. e_e .~ .~~ . ~~ ~ . .:.:.. .__e.._~:. .q._. ~. . q .:.~.,_e ._ . ~. . . ..:.:q .~ ~. . ~~ ..|. ~,~~~ ~ .._..._.. ..: . , .:.._ ~ .:.. :.~: . , . ._~: . . q._ .~..q ~, -~. . ~~ .~ . . , .:. ~ . ..:. ._~: US Federal Reserve ~., _e ,.- .._~....:.~.~. .:.~ ._~:.~.,~~. ~q, ..: .. ~ e e q ._~: .._ . . q ._. . . .:... .~ ~ ~ .~~ .:. ~ .:.. .. ~._.~.,~ ._ . ~ .~~ .:q,~~~ ~.:~~~_e..,_.. .:.. .. , .~ , ..:.. :._ . . ~ :.~ , .~ , .~. ~ .~ ~ ~ .~~ .:_. . .~:~ ~ :.~ ,.~,.~.~ ,. q.._~:. .q ._. ...:....~~~._.~.,.: ~.~~.:.,..:._. ..,..:. ~.,_e q..._.... ~...q~.:. ~ .~ :...: q ~ . :.q._ _e. ._. December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com INVESTMENT & FINANCE 20 Educating Yourself Financially David Mayes I am often asked by clients what sort of things they can read to increase their hnuncIuI IILerucy und generuIIy jusL muke beLLer decIsIons In LIe ureu. I you Iuve ever gone InLo LIe hnuncIuI secLIon oI u large bookstore you are prob- ubIy uwure Iow overwIeImIng the number of books written by so cuIIed experLs cun be, us weII us LIe wIde vurIeLy oI LopIcs. MosL ure surprIsed Lo hnd LIuL in general I think it is wise to uvoId uImosL uII oI LIese. n generuI, LIe bIggesL IeIp you gIve yourseII und your cIII- dren would be to read a book cuIIed TIe RIcIesL Mun In BubyIon by George CIuson, us weII us u TIInk und Grow RIcI by Napoleon Hill. The second is noL reuIIy ubouL hnunce LecInI- cuIIy buL LIe Iessons, II IoIIowed, wIII sureIy Ieud Lo hnuncIuI Independence. TIe Iormer, is a set of principles to follow wIIcI ure LoId vIu u sLory seL In ancient Babylon. Long before uny oI LIe udvenLs oI modern hnunce, LIe LIrIvIng socIeLy oI Babylon produced an extremely weuILIy cIuss oI cILIzens und LIe basis on which they grew and compounded their wealth is still vuIId Loduy. TIuL suId, LIere ure some more technical bits and pieces LIuL IL Is good Lo Iuve u gen- eruI knowIedge oI, und LIe hrsL thing of utmost importance is Lo sepuruLe und know LIe dIer- ence between speculating and InvesLIng. SpecuIuLIng Is more ukIn Lo gumbIIng, und u Iurge portion of that book section I menLIon ubove wIII be specuIu- LIve sLruLegIes. gnore unLII you ure very secure, und LIen uIwuys remember speculation is only Ior rIsk cupILuI, money you cun uord Lo Iose In ILs enLIreLy. nvesLIng InLeIIIgenLIy und cautiously is how most fortunes are made. I n todays world everyone Is IookIng Ior u geL rIcI quIck scIeme, buL you cun be u Iow puId junILor und II you IoIIow LIe rIgIL InvesLmenL prIncIpuIs you wIII evenLuuIIy retire rich. I f you are interested In LIe sLock murkeL, reud up on Wurren BueL und IoIIow his approach as closely as you can. Otherwise simply dollar cosL uveruge InLo LIe murkeLs by placing a small amount of money uL rIsk every monLI InLo u dIversIhed veIIcIe sucI us un Index ET (excIunge Lruded fund which mirrors the return oI LIe Index, or murkeL). Over 20+years you will surely come out far ahead of the crowd. LIInk knowIng wIuL Lo uvoId reading is as important as knowing what to read. Books on options trading strategies are great if you want to be a full time speculator and are explor- Ing LIe vurIous sLruLegIes und securILIes you cun use. However keep in mind this is either a full time profession where the youngest and sharpest minds of LIe worId ure compeLIng, or eIse LIe modern cusIno oI LIe very rIcI wIo cun uord Lo Luke LIe losses. WIen IL comes Lo hnuncIuIIy educating yourself stick to the classics. Choose a boring but tried and tested strategy that wIII puy o sIowIy over u Iong LIme IorIzon. Once LIere, you can take a small portion of your wealth and try your hand at some oI LIe more excILIng sLu. David Mayes MBA provides wealth management ser- vices to expatriates throughout Southeast Asia, focusing on UK Pension Transfers. He can be reached at david.m@ faramond.com. Faramond UK is regulated by the FCA and provides advice on pensions and taxation. Views expressed here are his own. Myanmar Summary r a n d b s o lu t io n s . c o m q..._.....:.~.,_e ,.~- q .. ._. . . . . . , ..:.~~ ~ ~.:~ ~~_...._ .:~..:.~ e~,_~ ..q._...:~..~.,_e q... _.....:.._ .._~....q:. .~.~_ e~,.._~.| .:~. . .:.. . :..q:~ .. q _~._ . . . :..q:~ ._ ~.| .:~ . ..| . .:.. :~ .~ _. _~q_. . ._ ._ .:~ . ~ e~,q._~. ..q...:~ .~: .:~...|..:..:~ .~_. _~q._. _:.q.. .. q:. .e ~ ,. ._~. ...q:~ ~.~_.~.,~:. ~. . q :.. .:.~~ ~ ~. .|.:~ . .:.. : ~.._....:._. .:., q..._.....:.~~~ ...: .:~..:.~ e~,_.. ,:.._._. .:q, ~~ ~ .~ . ... . ._ . David Mayes ~ ~..|.:~..:.~ .. .,q, ._.:_~:.:._.. e.e.~ .q..:.. ..:.:~ . .:.~ .|~ ..: ~.~.:.~:. e.,..~_:.q. ...,...q:~ ~..~.,... ._ ~.~ ~ . q :.q, . ~. ._ . ..:~:._e George Clason - TheRichest Man in Babylon .:~. . Napoleon Hill - Think and Grow Rich .:~.~~ .|~..: ~._~:.~q:.:.._ e.,~. ~. .~ .,...._ ~ . _. . ._ . ~..|.:~..:.~ e~,...:_.. . ._~.. .. q:~ ._ . . .: .~:~..:q,~~~ ~.~_. .:.~ q:.e....__e.._.e., ~.:- ~.~~._.:....:.._~: ,_.._:...q: ~.q.~.:..:. ~ e~ , q, ~~ ~ .~: .. , ..: ._. q..._.....:.~.,_e._. .e e~:._e ~._.. ~. ~_. .:.~ .........: .:~..:.._ ._. ~.q..|._~ .q .._. q..._....~.._...q:~ .... . ..| .:., _. . _e q .. ._. . . .. ~.,~~e q..._....~- ~:_.:..~~ .qq, .~.._. ._~._e q .. ._. . . . _._. .. : ..: .~.:.~. . _._. .. . _. . ~~.~_.~~.,~~eqq..~ ..,.q._~.q:e. : _~..:.._~:. ._. .~_.~..._. ~~~ .e:_....: .:~.. q .:~..:.~ .:~...|..:..: ._ ~~_..:._e .q..:.:. _. ._e. _. . .. ., . ._~:. David Mayes ~ ~_~ _.:.._ .. ~.:.. ._ q..._....~.. _...q:~ ~.,~~~. ~~ .~_.~_.,._ qqq, ..:._~..q._. .q:~ .~:_...: ... :..q. ..,.q.:.. ...:..q...,..:. ~ ..~._~_q:~ ,.~~.,_e ..:..: ~~.~......:._e ~.,~.~:_~: q..._..._....: ~~.~_.~ _., ._ qq ._ ~ .~ _. .._. Iojilm Istublishes Locul Sobsidiury in Myunmur Kyaw Min J apanese photography and ImugIng compuny ujIhIm Corp has established a IocuI subsIdIury, ujIhIm Myun- mur Ld, In Myunmur wIere LIe company expects growth. Business operations will com- mence on December z, ujIhIm said. n Myunmur, ujIhIm Ius focused on the sales of imaging producLs, sucI us pIoLogrupIIc pupers, LIrougI dIsLrIbuLors since the 1970s. ujIhIm suId LIe esLubIIsImenL of a local subsidiary will enhance sales and technical support to LIese dIsLrIbuLors, IeIp grusp market needs of the local area and expand sales channels. It will increase sales of medi- cal products such as diagnostic ImugIng sysLems und X-ruy hIms, us weII us grupIIc urLs producLs sucI us oseL prInL- Ing pIuLes, producLs Ior wIIcI greuLer demund Is Iocused, LIe company said. ujIhIm Myunmur Is ujI- hIm`s ; th local subsidiary in LIe ASEAN regIon besIdes LIe ones In ndonesIu, MuIuysIu, LIe PIIIIppInes, SIngupore, TIuIIund und VIeLnum. The paid-in capital for the subsidiary is 20 million ($1q,16o), und RyuLuro wukI wIII be LIe represenLuLIve Ior LIe new omce. While aiming for further en- hancement of its business foun- dation in Southeast Asia where LIe economy Is rupIdIy growIng, ujIhIm suId IL wIII promoLe LIe deIIvery oI soIuLIons LIuL meeL dIversIIyIng murkeL needs us IL conLrIbuLes Lo LIe deveIopmenL of industries in each country. Also known as the last fron- LIer In AsIu, Myunmur Ius up- proximately twice the land area oI Jupun und Ius u popuIuLIon of approximately 60 million people. Since the establishment oI u new governmenL In zo11, reguIuLIons Iuve been eused, und economIc ucLIvILIes Iuve been progressing. Due to in- creased labour population and InIrusLrucLure deveIopmenL In LIe IuLure, Myunmur Is guLIer- ing attention as a market where continuous economic growth is projecLed. Myanmar Summary .,.- .:~...,.~.._e. ._ Fujiflm Corp ._ _.,.: . ~ . . , .. ~. . ~ ~_ .: . _. _e. ._~: . . q._ . ~. .| . . , . . . : Fujiflm Myanmar Ltd _e. _. . ~ . ~ ~.,_e _., .: ...~ ~ ~ ..,.e_e.~.~~.:q, ..:.,. :.._~:.._. .q._. . . , ...: q ~ . .:.~ . ~ :. q~ ., ~ .~ ..: q ~ . :.._ _e.._~:. Fujiflm . ._.:_~:.. ._. Fujiflm ._ ~~ ... ~~_ .~ _e, . . .:.. ~. . _., .: . ~ .:~ . . . , .. .. q: ~ ~,.:.~ .q:..q,~~~ ~:, . ~ . . ..: . ._ ._._ ~ .. . , .. ~. . ~:. ~_ .: _. ._e .q: ..q ..:.. _e,. . .:.~~~ ,_.._: .:~......:.~ .._....:.. .__e.._~:. Fujiflm . ._.:_~:. .._. INVESTMENT & FINANCE 21 December 5-11, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com Myanmar Moves to Bring Finances Out of The Shadows W ith wide-ranging re- Iorms seL Lo Improve the transparency of Myunmur`s pubIIc hnunces, LIe governmenL Is expecLed Lo IuuncI u drIve uImed uL brIngIng businesses into the mainstream economy. The states budget remained opuque Ior decudes under mIIILury ruIe, prompLIng mosL nuLIonuIs Lo uvoId puyIng Luxes und sIunnIng pubIIc servIces. The decision to open up My- anmars markets to the outside worId, IoIIowIng LIe cIunge oI governmenL In zo11, brougIL wILI IL u hrsL-LIme opporLunILy for both nationals and global observers, IncIudIng InLernu- LIonuI hnuncIuI InsLILuLIons (s), Lo vIew LIe sLuLe`s uIIocu- tion of resources. Maj or task ahead TIe move Ius gurnered sIg- nIhcunL InLeresL umong Inves- Lors, uILIougI Myunmur Iuces a gargantuan task in putting its pubIIc hnunces In order. Among ILs cIuIIenges, LIe governmenL will be looking to draw more enLerprIses InLo LIe omcIuI economy, uIIocuLe puymenLs eI- hcIenLIy und LrunspurenLIy, und boost tax collection. AccordIng Lo conservuLIve think tank the Heritage Foun- duLIon, Myunmur Ius one oI LIe lowest tax-to-GDP ratios in the worId, uL uround percenL, Iur beIow ILs ASEAN peers, wIere LIIs hgure uveruges 1 percenL. However, ussessIng LIe exLenL of taxation is complicated by the fact that Myanmars GDP is also known Lo be vusLIy undersLuLed. ExperLs ugree LIuL wILI business dealings largely cusI-bused, unbunked und un- Luxed, LIe sIze oI LIe economy cun never be more LIun un educated guess. Local business represenLuLIves puL Myunmur`s shadow economy at between 30 und 1oo percenL oI omcIuI GDP hgures, provIdIng LIe udmInIs- tration with huge potential for boosLIng Lux revenues. TIe governmenL wIII be Iop- ing that as Myanmars com- mercIuI envIronmenL Increuses In Lrunspurency, more IocuI businesses will be encouraged to come out of the shadows and participate in the countrys deveIopmenL, buoyed by rIsIng IoreIgn InvesLmenL und InLernu- tional trade. Tr acki ng spendi ng A recent World Bank study on Myunmur`s pubIIc hnunce management highlighted many buIIdIng bIocks LIuL LIe govern- menL couId use Lo Improve uc- counLubIIILy und boosL ILs hscuI position. Aware of the challenges that Myunmur`s governmenL Iuces, the institution put an emphasis on making expenditures more accountable and allocating re- sources emcIenLIy, ruLIer LIun IncreusIng revenue or sLeppIng up enforcement. WIIIe LIe sLuLe`s revenues are generally in line with the governmenL`s projecLIons, spendIng Is oILen more dImcuIL to track. According to the World Bunk, LIe dIerence beLween actual and budgeted expendi- tures has increased in recent yeurs, rIsIng Irom 8.; percenL oI upproved spendIng In zoo8-oq to 20.2 percent in 2010-11. The World Bank also pointed Lo IeILy revIsIons und udjusL- menLs In budgeLs, uIongsIde a lack of arrears monitoring. Other concerns included exten- sIve use oI LIe oLIer uccounLs secLIon, wIIcI In zo11-1z regIs- tered receipts of K2.54 trillion ($z.q bIIIIon), or qq percenL oI LoLuI budgeLed revenue, und expenditures of 2.26 trillion ($z.z6 bIIIIon), represenLIng 28 percent of total budgeted spending. Wi nni ng over the voter s TIe new regIme Ius moved Lo target problem areas at a rapid ruLe, In LIe spIrIL oI LIe equuIIy fast-paced broader reform process. RecenL LeIevIsIon debuLes on LIe uIIocuLIon oI hnunces, together with the publication oI u budgeL Iuw In IocuI pupers, ure provIng InsLrumenLuI In convIncIng Myunmur`s cILIzens LIuL governmenL expendILure Is being negotiated more openly. Accountability is also a key LopIc oI dIscussIon, purLIcuIurIy in light of the elections that the country is set to hold in 2015. s, rIvuI poIILIcuI purLIes, scIoIurs und cILIzens ure umong the broad range of groups calling for transparency to be gIven u prIorILy by u Myunmur governmenL. However, sInce LIe govern- menL Ius onIy one hscuI yeur under its belt after deciding to open up the country to watch- dogs und voLers, LIe process Is widely expected to be a gradual one. With information and histori- cuI records sLIII comIng Lo IIgIL, mosL InLernuLIonuI InsLILuLIons, IncIudIng LIe WorId Bunk, recognIse LIuL u cooperuLIve approach will yield the best re- sults. When local parties begin cumpuIgnIng Ior LIe eIecLIons, Iowever, LIe upproucI und Lone could change. OBG Employees work at the Myanmar central bank's headquarters in Nay Pyi Taw. As Myanmar opens up after almost 50 years of army rule, and foreign investors descend on the resource-rich country of 60 million, its long-isolated institutions are struggling to keep up, raising the risk of a policy misstep that could wreck stability in this nascent democracy. S o e
Eric Jiang T he recent protests in Yangon against a hike in eIecLrIcILy cIurges Iuve shed some light on Myanmars serious power crisis. In the past three years Myan- mar has witnessed the suspen- sIon oI LIe CIInese-InvesLed MyILsone dum projecL, muss demonstrations against black- outs in big cities like Yangon und MunduIuy, und proLesLs against the rate rise. EIecLrIcILy Is very ImporLunL Ior LIe deveIopmenL oI LIe nuLIon, buL LIe counLry Iuces power sIorLuges, u compIex InvesLmenL envIronmenL, und dIm cuIL IocuI condILIons. My- anmar urgently needs to tackle these problems. EIecLrIcILy Is onIy uvuIIubIe Lo 30 percent of the population. The lack of power for both industrial and household use keeps InvesLors uwuy. There are two main reasons for this power shortage. The counLry doesn`L Iuve udequuLe power suppIy, und ILs eIecLrIcuI power grid is outdated. TIere Is no unIhed, IIgI- voILuge power LrunsmIssIon neL- work In Myunmur. Even II LIere wus enougI power produced, the customers in border areas couldnt be reached because of InudequuLe LrunsmIssIon IInes. Myunmur needs Lo Improve ILs transmission networks based on economIc deveIopmenL und power demunds In dIerenL regions. GIven Myunmur`s Iuck oI couI or udvunced uILernuLIve energy LecInoIogy, ILs ubundunL wuLer resources are undoubtedly natures gift and Myanmars best choice for clean power generation. n LIe pusL decudes, muny counLrIes In LIe worId Iuve prIorILIsed LIe deveIopmenL of their water resources. The uveruge Iydropower uLIIILy ruLe In LIe deveIoped counLrIes Ius reucIed ;o percenL, wIIIe in Myanmar it is less than 3 percent. Thats partly why Myanmar faces this awkward situation. Catering to the publics de- munds over eIecLrIcILy prIces Is unoLIer Issue. CurrenLIy, Myanmars rate is K35 ($0.036) for household subscribers per unIL. Even LIougI more LIun ;o percent of electricity in Myan- mur Is Irom cIeup Iydropower, LIe governmenL sLIII Ius IosL un uveruge oI Kzz per unIL und K185 billion per annum accord- ing to local media reports. The electricity generated from other sources sucI us couI, nuLuruI gus, soIur und wInd wouId cosL much more. AL presenL, LIe Myunmur governmenL cun sLIII munuge to subsidise 10 billion kilowatt Iours per yeur, buL II power consumption increases sharply In LIe IuLure, und IL Is currenLIy estimated to grow at 15 percent eucI yeur, IL wIII be unsusLuIn- ubIe Ior LIe governmenL Lo continue these subsidies and it wIII evenLuuIIy Iuve Lo Increuse eIecLrIcILy prIces. However, LIe recent proposal for a price hike was strongly opposed by the public. An udvIsubIe soIuLIon Is Lo deveIop cIeup und renewubIe power sources. The production cost of hydropower is only 25 to 50 percent of other types oI power generuLIon, sucI us soIur, wInd, gus or couI-hred power. TukIng udvunLuge oI rIcI water resources is undoubtedly a long-term choice. It will be unrealistic if there are no more subsIdIes Lo deveIop Iurge scuIe wind or solar-power in Myan- mur, suId one WesLern InvesLor uLLendIng LIe Myunmur Energy nvesLmenL SummIL In Yungon on September 3. WIen deveIopIng Iydro- power, more uLLenLIon sIouId be Iocused on Iurge projecLs ruLIer LIun smuII ones. RIver hydropower plants will be op- eruLed uL u Iow IeveI In LIe dry seuson wIen Myunmur`s rIvers ure runnIng uL Iow ows. urge reservoIrs ure IeIpIuI In udjusLIng ows, generuLIng more power for the system in the dry season as well as conLroIIIng oods In LIe ruIny seuson. L Is uIso benehcIuI Ior nuvIguLIon und IrrIguLIon. Generally it takes 20 to 30 yeurs, or even Ionger, Lo recover LIe cosL oI power projecLs. So u sLubIe und reIIubIe InvesLmenL envIronmenL Is oI purLIcuIur Im- porLunce In uLLrucLIng InvesLors. TIe deveIopmenL oI megu Iy- dropower projecLs Ius been In stagnation since the suspension Protesters hoId candIes during a demonstration to protest the eIectricity price increase for the rst time in two years in Yangon. U A u n g / X in h u a oI LIe MyILsone dum projecL. r- responsible remarks about the projecL und CIInese InvesLors are common in the local media wIIIe ruLIonuI reecLIon Is un- common. SucI un envIronmenL Is u IoL poLuLo Ior InvesLors. TIe deveIopmenL oI uII pro- jecLs Ius cerLuIn envIronmenLuI und socIuI ImpucLs. An objecLIve assessment from comprehen- sIve unuIysIs sIouId be bused on jusLIIyIng LIe IeusIbIIILy oI LIe projecLs. DemonIsIng Iydro- power deveIopmenL or prejudIce uguInsL InvesLors Irom u cerLuIn counLry Is undesIrubIe, und wIII noL onIy IurL LIe InvesLors buL uIso jeopurdIse LIe InLeresLs oI the public and the nation. Some analysts hold that con- LroversIes over envIronmenLuI proLecLIon, securILy und cuILure concerning the Myitsone dam projecL ure onIy superhcIuI. They say that the essence of the problem is that politics erodes economIc deveIopmenL for the personal gains of some politicians. Some envIronmenLuIIsLs Iuve also pointed out that the eco- envIronmenL oI LIe rruwuddy RIver regIon Ius conLInuuIIy deteriorated in the past decades due Lo oods, drougILs, deIor- estation for farmland reclama- LIon, over-IunLIng, und goId mining. ConsLrucLIng Iurge reservoIrs couId udjusL oods, meeL the demand of electricity for IndusLrIuI deveIopmenL uIong LIe rIver und creuLe more job opportunities to help locals to abandon their outdated and envIronmenLuIIy-unIrIendIy wuy oI IIIe. n LIIs sense, Iy- dropower construction is not conLrudIcLory Lo envIronmenLuI conservuLIon; LIe Lwo cun mu- LuuIIy udvunce. The public desire to escape darkness cannot be ignored during Myanmars democratic transition. Its time for My- anmar to face up to its power shortages. The author is an employee of a Nay Pyi Taw-based com- pany. Views expressed here are his own. _., .:. ~ ._~:.... ~ .. .. .:~ ~:..... , ..:. ~ ._. . . .~ .~ _ .. _.. .:. _e. ..'. _. . .. .. . . .~ ~_~ ~.~ ~. ~~:. ~..~.q.~ .~_..q._..,. ..:. .. . .~: ~ ~, ~ . . q .. . _...._ _...._..~,.~._. ~.:._ ._ . . ..: q ~ . ._. q, .._..~:..._~._. q, ~ , . .. ..._. _ ~ .. :.~ .. .. .:~ ~:. _.~ .~:~ . .:.~ _._..:.~:. ~.~~..:.~._. _~ .~ ...,._ ... .. .:~ ~:.. : .~..- ~.~~e_e..~~~ ...:~.q..|_.. _.,.:.~.,_e . . .~ _.~ .~:~ . _..,:~ _~ .~ .,q._. ~. .|~._ .~.,~ ~..~.: ~ ~ e ._eq .q, ._. . ~. .,._ . ...q- ,~ q:..,..: .... .:~~:.qq.,._ ~.,~:.~q .,_.. .~...,..:.. ~..:. .:. ~.._.q,~~~ .......~ .~..~._.~.,.:.~ q..._... . .:. . .q . ._ ~.~ ~. . _e. .: ._ . . . . ~ _ .~ .~:~ . ~~ ~ ~. ~~._~: .~q:. . . q .,_. . ~. .| ~.~ .:.. : _., .:. ~.,_e _._ . . ..:~ ..: . . .. .:~ ~:. .:~ . . q ..,.. .. .. .:~ ~:. _e,_e..q.~,q~.:..:._. .e:. . . ..,_. _e. ._ . _., .:. ~ - ~:. _. ...~~.. ~,q~.:. .q .. ...~...:~. : ~..... ..._.. .~: .:~~:... .:. .q_..._~: ,e......:.. .:~ ~:..:~ . . .:.~ _.. . . ._ .e ~ ..._., .:. ~.,_e ... ~....~ ...:..q.e_e.~.~~. . . . .~ . ~. .~ .:.~..' . ~_ _ .:~~:.~..~,q~.:.~ ~.~~.:q,~~~ ..:q~q, . ~. .,._ .. . .~ ~_~ ~. _.,_.._:.:. ~..._....._.. ._~: .q~q .~_.. . :. : .:~- .~..:~.._e... _.,.:. - ...~~_~~~._. ~.q..| ..: ~q.~_..~.. _e..:._. .,...: .e....:.~ ~.: ..'q .~.~:.:..:..: .q~q. ~_.. e _e .~ .~~ q, ~~ ~ ..:.... ..: q ~ . _~._ .e _e ._. .. .:. ~ .q~:.....~.._.. .....,. :.. : ~ q:. . , .~ . .q:~ q .:_.. _.,.:.~ , q:..,. .~:~ .:q .,...._ . INVESTMENT & FINANCE 23 December 5-11, 2013 Myanmar Summary Myanmar Summary Myanmar Business Today www.mmbiztoday.com SingPost to oHer Remittunce Services to Myunmur S ingapore Post Ltd (Sing- Post) last week announced that it has launched a new remittance corridor to Myan- mur, mukIng IL LIe hrsL posLuI servIce provIder Lo oer remIL- Lunce servIces Lo Myunmur. SIngPosL wIII oer Iund transfers from Singapore to Myunmur vIu ILs CASHOME remILLunce servIce LIrougI ILs partnerships with four banks in Myanmar Asia Green De- veIopmenL Bunk (AGD Bunk), CooperuLIve Bunk (CB Bunk), Kunbuwzu Bunk (KBZ Bunk) and Tun Foundation Bank (TFB). Our partnerships with AGD Bunk, CB Bunk, KBZ Bunk und TB ure sIgnIhcunL mIIesLones In our ongoIng eorLs Lo Iorge direct bilateral relationships wILI esLubIIsIed hnuncIuI InsLI- LuLIons, sLrengLIenIng our vuIue proposILIon us u IusL, secured und convenIenL cIunneI Ior Aye Myat Iund LrunsIers, MurjorIe OoI, SIngPosL`s senIor vIce presIdenL Ior hnuncIuI servIces, suId. We Iuve been expundIng our CASHOME remILLunce servIces and growing our network of in- stitutional partners to enhance our remILLunce oerIngs, sIe added. The money will be remitted in LIe IocuI currency KyuL, wILI LIe exchange rate determined at the poInL oI remILLunce LrunsucLIon, SingPost said. A transfer fee of S$8 applies for each remittance transaction. Funds remitted before 12 noon (Singapore time) on a busIness duy wIII be uvuIIubIe for cash collection or credited InLo LIe benehcIury`s bunk account on the same day after 1 pm (Myunmur LIme), excepL TB wIIcI provIdes cusI coIIec- tion on the next business day. AGD Bunk, CB Bunk, KBZ Bunk und TB Iuve over zoo bank branches across Myanmar Ior benehcIurIes Lo coIIecL Iunds wILI no servIce cIurge. Ben- ehcIurIes cun uIso uccess Iunds Irom over q;o um IIuLed bunks of AGD Bank and CB Bank at u servIce cIurge oI Koo pIus 0.15 percent of the remittance amount. Myanmar senders can also remit salaries back home for suvIngs purpose und geL un interest rate of 8 percent per unnum, compounded quurLerIy. To access SingPosts remit- Lunce servIces, senders need onIy Lo regIsLer once Ior u CASHOME curd Ior Iree. or subsequenL remILLunces, senders need onIy Lo presenL LIeIr CASHOME curd und sLuLe LIe benehcIurIes` bunk account number and remittance amount. The Myanmar community in Singapore is estimated to be uround 1o,ooo Lo zoo,ooo. Singapore Post Ltd (SingPost) ._ .,.._~.~~ _.,.:. ~ .._.:......q: ~,..:. .:.~ _.... :..~:.__e.._~:. ._~_:. _. . _., .:. ~ .. .. . ,.- ..._.:.......q: ~, ..: . .:.~ _.. . . :.. ._ ~. ~...~.q.._e.._. 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Philips Sets Up Lighting Operations with Local Partners Aims delivering energy ef cient and sustainable lighting solutions in Myanmar Htet Aung D utch multinational engi- neering and electronics conglomerate Philips announced last week that it has set up its lighting operations in Myanmar. Philips appointed three lo- cal distributors to meet the needs oI LIe generuI pubIIc, busInesses und governmenL organisations looking to install energy em cIenL und susLuInubIe IIgILIng soIuLIons In LIeIr Iome, workpIuces und om ces, LIe company said. TIe IocuI dIsLrIbuLors Iuve been uppoInLed Lo provIde servIce Lo eucI dIsLIncL murkeL Pahtama Group will supply Philips Lighting products to LIe consumer murkeL, wIIIe JJ-Pun und Power IgIL wIII servIce und commercIuI secLors respecLIveIy. TIe operuLIons In LIe counLry, und ILs IocuI dIsLrIbuLors, wIII help the citys growing urban population continue the eco- nomIc und socIuI deveIopmenL of Yangon by bringing sustain- ubIe, IIgI-quuIILy IIgILIng Lo uII, Philips said. As Myunmur deveIops und ILs urbun popuIuLIon grows, LIe current energy infrastructure will come under increasing pressure, MIeke De ScIepper, generuI munuger, PIIIIps IgIL- Ing SIngupore und ExporL. Yangon currently consumes 45 percent of Myanmars en- ergy supply and this is likely Lo Increuse us deveIopmenL conLInues, sIe suId. L Is ImperuLIve LIuL peopIe muke use oI energy-em cIenL solutions as they can help ucIIeve sIgnIhcunL suvIngs und meaningfully bring electric- ity demand and supply into buIunce. Mieke said by switching Lo energy-em cIenL IIgILIng technologies such as Light- EmILLIng DIode (ED) buIbs LIese suvIngs wouId umounL Lo an estimated $ 9.7 million in reduced electricity costs and 45 kilotonnes of CO2 annually. HuII oI LIese suvIngs cun be ucIIeved In Yungon uIone. Philips said its re-entry into Myunmur ucross ILs IIgILIng, healthcare and consumer IIIesLyIe busIness unILs reecLs LIe compuny`s conhdence In Myanmars long-term business opportunity. n IeuILIcure, PIIIIps Is working with stakeholders to build Myanmars health infra- structure. It has introduced the hrsL PETJCT ImugIng sysLem Lo Myunmur, Lo be InsLuIIed In Yungon GeneruI HospILuI, and has started a year-long program of clinical education in association with the Myanmar RudIoIogIcuI SocIeLy. Philips said its consumer producLs Iuve uIreudy guIned Iuvour wILI Yungon consumers uILer LIe openIng oI ILs hrsL con- sumer sLore In MurcI, IoIIowed by un uddILIonuI seven sLores In key cities across the country. n June, PIIIIps purLnered with the Yangon Heritage Trust Lo IIgIIIgIL und preserve LIe cultural heritage of Yangon through the use of its sustain- ubIe ED IIgILIng soIuLIons. PIIIIps guve $;,ooo Ior LIe Yungon bIue pIuques InILIuLIve to highlight key cultural herit- age sites throughout Yangon. HeudquurLered In AmsLer- dum, LIe NeLIerIunds, PIIIIps posLed zo1z suIes oI Czq.8 billion and employs approxi- muLeIy 11q,ooo empIoyees wILI suIes und servIces In more LIun 100 countries. ,e.:.,-...|..~.~. . ~ .~ .q:,. . . , ..:.~:. ~._.. ~ . . ..: ..: ~ ~:.. _~ ._e. ._ Philips._.,. ._~ .~ ~ _.,.:.~ lighting ~ ~,.:.~:. .q: ..q, ~~ ~ . . , . ..:q~..:.~ ~._.._._e.._~:. .q._. ~.:._._.- .~..~~ _e_ ._ .q, ... :..q.. . , ..:.. ~. .q ~e~._..:.- ...~~:.~~.q . : ~.._._.. .qq_~_~e_e...: lighting ._eq...:.~:. ....: .... q, ~~ ~ _._ ~ ._e, . . . . . ~ Philips . .,~.:.._~:. ._. .q._. _ ._~._e,.. .:.~.,_e ,.~ - ~ _ .:...:.. .~~ ~. .. .~ ~, ..: . .:.~ .:~ . .... :.q ._ _e. _.. PahtamaGroup . Philips - Lighting ~ ~ , .:.~ .:.. .. ...~~. .:~....q.__e... J J -Pun . Power Light ~. ~, ..: . . .q: .~e .e:~ ~:.. ~_.:.~ ~......:q~ . :.q .__e.._~:. .q._. q, ~ , _. ._e..~q~ _.,.: .-. . .~ .:~ . . -,q:. . , . ~ ~....,q_..e_e.~.~~..:. q .:_. .. ~~ . . .~ . .. . .|_. ~~ .:.__e.._. Philips representatives launch the company's lighting programme in Yangon. P h ilip s December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com 24 INTERNATIONAL AND DOMESTIC FLIGHT SCHEDULE Fliggh htss ffroom Yanggon (RGNN) to Bangkok ((BKK) Fliggh htss ffroom Banggkok (BKKK) to Yaangon (RGN) Flight No. DDayys From To ETD ETA Operated by: Flight No. DDayys From To ETD ETA Operated by: PG 706 1 2 3 4 5 6 7 RGN BKK 7:15 9:30 Bangkok Airways 8M336 1 2 3 4 5 6 7 BKK RGN 6:40 7:25 MAI FD2752 1 2 3 4 5 6 7 RGN DMK 8:30 10:20 Thai AirAsia FD2751 1 2 3 4 5 6 7 DMK RGN 7:15 8:00 Thai AirAsia 8M335 1 2 3 4 5 6 7 RGN BKK 8:40 10:25 MAI TG303 1 2 3 4 5 6 7 BKK RGN 8:00 8:45 Thai Airways TG304 1 2 3 4 5 6 7 RGN BKK 9:50 11:45 Thai Airways PG701 1 2 3 4 5 6 7 BKK RGN 9:05 9:55 Bangkok Airways PG702 1 2 3 4 5 6 7 RGN BKK 10:45 12:40 Bangkok Airways FD2755 1 2 3 4 5 6 7 DMK RGN 11:35 12:20 Thai AirAsia FD2756 1 2 3 4 5 6 7 RGN DMK 12:50 14:40 Thai AirAsia TG301 1 2 3 4 5 6 7 BKK RGN 13:00 13:45 Thai Airways TG302 1 2 3 4 5 6 7 RGN BKK 14:45 16:40 Thai Airways FD2753 1 2 3 4 5 6 7 DMK RGN 16:20 17:05 Thai AirAsia 8M331 1 2 3 4 5 6 7 RGN BKK 16:30 18:15 MAI PG703 1 2 3 4 5 6 7 BKK RGN 17:05 17:55 Bangkok Airways FD2754 1 2 3 4 5 6 7 RGN DMK 17:35 19:25 Thai AirAsia TG305 1 2 3 4 5 6 7 BKK RGN 17:55 18:40 Thai Airways PG704 1 2 3 4 5 6 7 RGN BKK 18:45 20:40 Bangkok Airways 8M332 1 2 3 4 5 6 7 BKK RGN 19:20 20:05 MAI TG306 1 2 3 4 5 6 7 RGN BKK 19:40 21:35 Thai Airways PG705 1 2 3 4 5 6 7 BKK RGN 20:15 21:30 Bangkok Airways FFliggh htss ffroom m Yangoon (RGN)) to Chiaang Maii (CNX) FFliggh htss ffroom m Chiangg Mai (CCNX) to YYangon (RGN) W9-9607 4 7 RGN CNX 14:50 16:20 Air Bagan W9-9608 4 7 CNX RGN 17:20 17:50 Air Bagan Flligghtss ffroom Yanggon (RGNN) to Sinngapore (SIN) Flligghtss ffroom Singaapore (SIN) to Yangon ((RGN) MI509 1 6 RGN SIN 0:25 5:00 SilkAir SQ998 1 2 3 4 5 6 7 SIN RGN 7:55 9:20 Singapore Airline 8M231 1 2 3 4 5 6 7 RGN SIN 8:30 13:00 MAI 8M6231/3K585 1 3 4 5 6 SIN RGN 9:10 10:40 Jetstar Asia SQ997 1 2 3 4 5 6 7 RGN SIN 10:25 14:45 Singapore Airline 8M232 1 2 3 4 5 6 7 SIN RGN 14:10 15:40 MAI 8M6232/3K586 1 3 4 5 6 RGN SIN 11:30 16:05 Jetstar Asia MI518 1 2 3 4 5 6 7 SIN RGN 14:20 15:45 SilkAir 8M233 5 6 7 RGN SIN 13:45 18:15 MAI 8M234 5 6 7 SIN RGN 19:15 20:45 MAI MI517 1 2 3 4 5 6 7 RGN SIN 16:40 21:15 SilkAir MI520 5 7 SIN RGN 22:10 23:35 SilkAir FFliightts frromm Yangonn (RGN) tto Kualaa Lumpu ur (KUL) Fligghtts frro om m Kuala LLumpur (KUL)too Yangonn (RGN) AK859 1 2 3 4 5 6 7 RGN KUL 8:30 12:50 AirAsia AK859 1 2 3 4 5 6 7 KUL RGN 6:55 8:00 AirAsia 8M501 1 2 3 4 5 6 7 RGN KUL 8:55 12:55 MAI MH740 1 2 3 4 5 6 7 KUL RGN 10:05 11:15 Malaysia Airlines MH741 1 2 3 4 5 6 7 RGN KUL 12:15 16:30 Malaysia Airlines 8M502 1 2 3 4 5 6 7 KUL RGN 14:00 15:00 MAI AK1421 1 2 3 4 5 6 7 RGN KUL 17:15 21:30 AirAsia AK1420 1 2 3 4 5 6 7 KUL RGN 15:40 16:45 AirAsia Fligghtts frrom Yanngon (RGGN) to HHanoi (HHAN) Fligghtts frrom Hannoi (HANN) to Yanngon (RRGN) VN956 1 2 3 4 5 6 7 RGN HAN 19:10 21:30 Vietnam Airlines VN957 1 2 3 4 5 6 7 HAN RGN 16:35 18:10 Vietnam Airlines Flliggh htss ffroom m Yangon (RGN) to Ho CChi Minhh (SGN) Flliggh htss ffroom m Ho Chii Minh (SSGN) to Yangonn (RGN) VN942 2 4 6 7 RGN SGN 14:25 17:10 Vietnam Airlines VN943 2 4 6 7 SGN RGN 11:40 13:25 Vietnam Airlines Flligghtss ffrom Yanngon (RGGN) to TTaipei (TTPE) Flligghtss ffrom Taipei (TPEE) to Yanngon (RGN) CI7916 1 2 3 4 5 6 RGN TPE 10:50 16:10 China Airline CI7915 1 2 3 4 5 6 7 TPE RGN 7:15 10:05 China Airline BR288 2 5 6 RGN TPE 11:35 17:20 EVA Air BR287 2 5 6 TPE RGN 7:30 10:35 EVA Air Flliggh htss ffroom Yanggon (RGNN) to Kunming(KMG) Flliggh htss ffroom Kunmming(KMMG) to Yangon ((RGN) CA906 2 3 4 6 7 RGN KMG 14:15 17:35 Air China CA905 2 3 4 6 7 KMG RGN 12:40 13:15 Air China MU2032 1 2 3 4 5 6 7 RGN KMG 14:40 17:55 China Eastern MU2031 1 2 3 4 5 6 7 KMG RGN 13:30 14:00 China Eastern MU2012 3 6 RGN KMG 12:20 18:10 China Eastern (via NNG) MU2011 3 6 KMG RGN 8:25 11:30 China Eastern (via NNG) Flligghtss from Yanngon (RGGN) to BBeijing (BJS) Flligghtss from Beijjing (BJSS) to Yanngon (RRGN) CA906 2 3 4 6 7 RGN BJS 14:15 21:55 Air China (via KMG) CA905 2 3 4 6 7 BJS RGN 8:05 13:15 Air China (via KMG) Fliggh htss ffroom Yanggon (RGNN) to Naanning (NNG) Fliggh htss ffroom Nannning (NNNG) to Yaangon ((RGN) Flight No. DDayys From To ETD ETA Operated by: Flight No. DDayys From To ETD ETA Operated by: MU2012 3 6 RGN NNG 12:20 16:25 China Eastern MU2011 3 6 NNG RGN 10:15 11:30 China Eastern FFliggh htss ffroom m Yangoon (RGN)) to Honng Kong (HKG) HHonng g KKo ong (HKG) Flights from Yaangon ((RGN) KA251 1 2 4 6 RGN HKG 1:00 6:00 Dragon Air KA250 1 3 5 7 HKG RGN 21:20 23:35 Dragon Air Flliggh htss ffroom m Yangon (RGN) to Guanng Zhouu (CAN) Flliggh htss ffroom m Guang Zhou (CCAN) to Yangonn (RGN) 8M711 2 4 7 RGN CAN 8:40 13:15 MAI CZ3055 3 6 CAN RGN 8:40 10:30 China Southern Airlines CZ3056 3 6 RGN CAN 11:20 15:50 China Southern Airline 8M712 2 4 7 CAN RGN 14:15 15:45 MAI CZ3056 1 5 RGN CAN 17:40 22:15 China Southern Airline CZ3055 1 5 CAN RGN 14:45 16:35 China Southern Airlines FFlighhts ffroom Yanggon (RGN) to Koolkata (CCCU) FFlighhts ffroom Kolkkata (CCUU) to Yaangon (RRGN) Flight No. DDayys From To ETD ETA Operated by: Flight No. DDayys From To ETD ETA Operated by: AI228 5 RGN CCU 18:45 19:45 Air India AI227 1 5 CCU RGN 10:35 13:20 Air India AI234 1 5 RGN CCU 13:40 16:55 Air India (via GAY) AI233 5 CCU RGN 13:30 18:00 Air India (via GAY) Fliggh htss ffrom Yanngon (RGGN) to GGaya (GAAY) Fliggh htss ffrom Gayya (GAY) to Yanngon (RGGN) 8M 601 1 3 5 6 RGN GAY 10:30 11:50 MAI 8M 602 1 3 5 6 GAY RGN 12:50 16:00 MAI AI234 1 5 RGN GAY 13:40 15:00 Air India AI233 5 GAY RGN 15:00 18:00 Air India Fligghtts frrom Yanngon (RGGN) to TTokyo (NNRT) FFliightts frrom Tokkyo (NRTT) to Yaangon (RRGN) NH914 1 3 6 RGN NRT 22:00 06:40+1 ALL NIPPON Airways NH913 1 3 6 NRT RGN 11:10 17:05 ALL NIPPON Airways FFliggh htss ffrom Yanngon (RGGN) to SSeoul (ICCN) FFliggh htss ffrom Seooul (ICN)) to Yanngon (RGGN) KE472 1 3 5 7 RGN ICN 0:05 8:00 Korean Air KE471 1 2 3 4 5 6 7 ICN RGN 18:40 22:55 Korean Air OZ7463 4 7 RGN ICN 0:50 8:50 Asiana OZ4753 3 6 ICN RGN 19:30 23:40 Asiana Flligghtss ffrom Yanngon (RGGN) to DDoha (DOOH) Flightts frrom Dohha (DOH) to Yangon (RRGN) QR619 1 2 3 4 5 6 7 RGN DOH 8:00 11:45 Qatar Airways QR618 1 2 3 4 5 6 7 DOH RGN 21:05 06:29+1 Qatar Airways Flligghtss froom Yangon (RGNN) to Fraankfurt (FRA) Flligghtss froom Frankkfurt (FRRA) to YYangon ((RGN) DE2369 3 RGN FRA 5:35 16:40 Condor Air (via HKT) DE2368 2 FRA RGN 12:40 4:25+1 Condor Air Days - (1) Monday (2)) Tuessdaay ((3) Weednesday (4)) Thursday (55) Friday (6)) Saturday (77) Sunday Days - (1) Monday (2)) Tuessdaay ((3) Weednesday (4)) Thursday (55) Friday (6)) Saturday (77) Sunday All the flight scheddulees aaree suubjectt too be changedd without anyy prior noticce by the airlines. All the flight scheddulees aaree suubjectt too be changedd without anyy prior noticce by the airlines. (+1) means next day (+1) means next day Fliggh htss ffroom m Yangon (RGN) to Nay Pyi Taww (NPT) Flliggh htss ffroom m Nay Pyyi Taw (NNYT) to Yangonn (RGN) Flight No. DDayys From To ETD ETA Operated by: Flight No. DDayys From To ETD ETA Operated by: UB-A1 1 2 3 4 5 RGN NYT 7:45 8:45 FMI UB Charter UB-A2 1 2 3 4 5 NYT RGN 9:15 10:15 FMI UB Charter UB-B1 1 2 3 4 5 RGN NYT 11:30 12:30 FMI UB Charter UB-B2 1 2 3 4 5 NYT RGN 13:00 14:00 FMI UB Charter UB-C1 1 2 3 4 5 RGN NYT 16:00 17:00 FMI UB Charter UB-C2 1 2 3 4 5 NYT RGN 17:30 18:30 FMI UB Charter UB-A1 6 RGN NYT 8:00 9:00 FMI UB Charter UB-A2 6 NYT RGN 10:00 11:00 FMI UB Charter UB-A1 7 RGN NYT 15:30 16:30 FMI UB Charter UB-A2 7 NYT RGN 17:00 18:00 FMI UB Charter 6T211 1 7 RGN NYT 15:30 16:25 Air Mandalay 6T212 1 7 NYT RGN 16:45 17:40 Air Mandalay FFliightts frrom Yangoon (RGN) to Manndalay ((MDY) FFliightts frrom Manddalay (MDDY) to YYangon (RGN) YH 909 2 4 6 7 RGN MDY 6:30 8:10 Yangon Airways YH 910 1 3 MDY RGN 7:40 10:30 Yangon Airways YH 917 1 2 3 4 5 6 7 RGN MDY 6:10 8:30 Yangon Airways YH 918 1 2 3 4 6 7 MDY RGN 8:30 10:25 Yangon Airways YH 727 1 5 RGN MDY 11:15 13:25 Yangon Airways YH 728 1 5 MDY RGN 9:10 11:05 Yangon Airways YH 731 1 2 3 4 5 6 7 RGN MDY 15:00 17:10 Yangon Airways YH 732 1 2 3 4 5 6 MDY RGN 17:10 19:15 Yangon Airways W9 501 1 2 3 4 RGN MDY 6:00 7:25 Air Bagan W9 502 1 2 3 4 MDY RGN 16:10 18:15 Air Bagan K7 222 1 2 3 4 5 6 7 RGN MDY 6:30 8:40 Air KBZ K7 223 1 2 3 4 5 6 7 MDY RGN 9:00 11:05 Air KBZ YJ 201 1 2 3 4 5 6 7 RGN MDY 11:30 12:55 Asian Wings YJ 202 1 2 3 4 5 6 7 MDY RGN 16:00 17:25 Asian Wings PROPERTY & REAL ESTATE 25 December 5-11, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com Construction Materials Prices Drop D emand for construction materials in Myanmar has dropped in recent monLIs, due Lo LIe ceIebruLIon oI BuddIIsL IenL, consLrucLIon materials traders say. PebbIes In purLIcuIur Iuve seen u murked IuII In prIces, us Iomeowners Iuve been Iess concerned with building and renovuLIng LIeIr Iomes durIng LIe IenL perIod, wIIcI runs Irom mId-JuIy Lo mId-OcLober. Traditionally in Myanmar cuILure, IoIIowers ure encour- aged to spend the lent period IocusIng on cIurILubIe deeds, und very Iew BuddIIsLs move house during the period. As this is towards the end oI BuddIIsL IenL, muny peopIe Lurn Lo LIeIr donuLIons, suI Kyaw Min Ko Than Aung from Aswe Taw Construction Material. Busi- nesses will be better again in December, buL LIe Iow umounL of purchases compared with the high supply has led to a fall in prIces, Ie udded. n OcLober, u box oI pebbIes, which are measured in boxes LIuL ure 1o squure IeeL by one IeeL, wus prIced uL Ko,ooo ($o), droppIng Irom K;o,ooo ($70). Cement too has seen a small drop. One bag of cement was soId Ior K,;oo ($.;) IusL monLI, buL Ius dropped Lo K,oo ($.), suId U Soe TIu from Toe Kyaw Construction Material shop. However, IocuI seIIers suy LIuL brIck prIces Iuve rIsen sIIgILIy and sandstone is remaining reIuLIveIy sLubIe. Real Estate Market Remains Slow due to Capped Prices Phyu Thit Lwin S Ince LIe Yungon RegIonuI governmenL seL Iund prIces per squure meLre In SepLember, LIe Yungon reuI esLuLe murkeL Ius sIowed down, according to real estate traders in the city. With spiralling land prices na- LIonwIde, LIe governmenL InLro- duced a scheme to try and tackle LIe Issue, by seLLIng u muxImum prIce on Iund, dependIng on LIe township in which the property wus IocuLed, wILI BuIun Lown- ship in Yangon being one of the mosL expensIve. n Yungon, muny seIIIng und buying properties fell silent when the news came that the governmenL wus hxIng muxI- mum prIces Ior Iund, suId U TIun Oo, cIuIrmun oI Mun Tu- Ing ReuI EsLuLe ServIce Co. We Iuve wuLcIed LIe murkeL sInce LIen, und IL remuIns sIow, Ie added. According to Deputy Finance MInIsLer U Muung Muung TIeIn, LIe hxed Iund prIces wus seL noL Lo conLroI LIe IIgI prIce, buL Lo uIIow LIe governmenL better control taxes. MurkeL experLs Iowever Iuve suId LIuL IndIrecLIy, LIe scIeme has ensured that high land prIces, wIIcI Iuve been u bur- rIer Lo muny IoreIgn InvesLors comIng InLo LIe counLry, Iuve been curbed. ~...:~.._..q:.~e.q.... ~ ~ ~ .~:~ .q. ... ., . .:. ~. ..,._~: . ~ . ..:~ .. _ . .q:.~e.q...:.. .q._. ~ . ..:~ .. _....~ ~ ~ .~:~ ~:.~ .~:~.q.~.~.. ~. . ,. ..: .~, .~ .....|~ . ..:._. e..~ ~.|...:. ~ .... , .~. .. :.. ._~: . . q ._. ~ . .. .~: ~ . ..:~ .. _ ..q: . ~e .q.. . ~ ., ..~: ~~.q: . ~~e ~.~: . . , . .~|~~ . , . .~: ~e .~ .~ ~ ~. ~~, .~ . ~:, . ~ .,_ ~~e . . ~ :...:~ ~ ._.. ~.q:.~~e ._e..:.e ~e.~e.~:.,_._.. .~:~.q. ~,.._..~ ~.q:~..:..,.~: ...~. :.~:..|''e ._.:._. ~ . . .:~ .. _ . .. . ~ ~ ~ ~.q: .~~e ~..'. ~_ _. . .... , . ._.:..~~._~:. .~:~....,. ._ ~~.e ~.eq~~_.. .. ._..... , .._ ~~~ ~~ ...~~._~:. .q._. ..._.~.~: ,_.,_.. ... ~~e..~....._.~.~~ ~ ~q.~ ~. ~~ ..|~~: ~. ~. ,~~ ..:~ ...~. :. ~e''e ~..~:~...:~.._. .q:.~e.q... .,.,: .... ~ ._.:._. ~ . ..:~ .. _ . .. . ~ ~ ~ .~:~ .q. . .. ._..... , .. : ~. . .,..: ._ . ~ ~ ... . : ~,_.e~~.,._~:. ..... : ..,~~. ~.q:.~~e_e..~q ._~:. .q._. e. . . .~ ~ :.. .~ _ q, ~ , _.- ~._.._..q:.~e.,._._~. .q.~~~ ,e._.~.~ ~ ...~ ._ q:_e~....,.~ ~..q~ .~ .~.~._.. .~:~~:. ~ q~ ., ~ ~~_ _..~ . ~ . ~ q: . .~.~.~_..._~: q,~,_.- ~ . _. ._....~ ~ ~.q: .~~e .~. . :.._~: . ~ . _. ._.~, ..: . . . , . q.:.. .q._. Myanmar Summary ._ ~ . _ . ._ . ~, ..: . ~ .~ ~ _ ..,..~ q, ~ , ~ .. : ~ . _. ._., .~.~_...~: ~ ...~._ . . , ..~ . ~ .e . ~ .~ . ~ _., ~~.|.: .~:.~:.:..:. ...~~ ~ _..:.~e . e..:. .~.~ ..._.. ..:_~_~~.,, ... ~ ~ _ . .:.q_ . ._ e. ~e . ~~e .~.~.~~~.,~~_.~ ~. ~ ...~~.~..:.~e''e ._.: ._. ...~~~..~..:.- ~.~q .~.~.~._ q:_e~....,..:. ._ ~:...|~...- ,~ q:..,. .:q ._ ~: . . q._ . . .,q: ~.~ ~ ...~._._......,..:. .~.~q_... : ~..~,_~._. ., ._ ~._.._.....,..:.~ ,... q,.e~ ..~:. ..,..,..: ~.,.:.~ ~_._~~ .~:~.. q,~~~ .:_ e. ._ ~: . _:.q. ~,_~._:, .~e~,_~. ...:..: ...~ ._.:_~:..._. A labourer works in a construction site in Yangon. S o e
Z e y a T u n / R e u t e r s December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com 26 Myanmar Summary PROPERTY & REAL ESTATE Income, Property Disparity Interlinked: Economists M yanmar must deal with the concern regarding unequuI Income und property distribution in the counLry, uccordIng Lo IeudIng economists in the region. SpeukIng uL un evenL IosLed In Yungon IusL week, Muung Muung Soe, u reLIred proIes- sor from the Applied Geology department from the Yangon UnIversILy oI EconomIcs, suId, We need Lo consIder IL |Income distribution] with the property distribution here. A handful of peopIe ure exLremeIy weuILIy, while 99 percent of the people are extremely poor and many do noL Iuve u pIuce Lo IIve. He added that part of the issue in income distribution is im- pacted by the property situation in the country. Almost all of the land in the country is in the posses- sion of the extremely wealthy. Myunmur does noL onIy Iuve u probIem wILI Income dIspurILy, buL uIso wILI unequuI properLy dIsLrIbuLIon, Ie suId, speukIng at the economic forum which was organised by May Kha Foundation. Chairman of the MCC Group oI CompunIes, U TIn WIng Aung, suId LIuL LIe unequuI In- come distribution in the country cun conLrIbuLe Lo vIoIence und conIcLs In LIe counLry, wIIcI could in turn lead to political Oliver Slow stability. People say that when a coun- Lry`s economy deveIops, ILs In- come disparity can be eased. In economIc Lerms, LIuL Is u kInd oI 'growLI onIy poIIce`, IocusIng on growLI hrsL, und LIe Income IuLer. n reuIILy, LIIs Lukes u IoL oI LIme, Ie suId. Myunmur`s economy, und wILI IL, GDP, Is expecLed Lo increase monumentally in com- Ing yeurs, purLIcuIurIy due Lo u surge of interest from foreign compunIes In LIe counLry, buL economIsLs Iuve wurned LIuL IL Is ImporLunL Ior LIe governmenL to ensure that its economic policies ensure that this growth occurs Lo LIe IeveI LIuL muny observers expecL IL Lo be. UsIng hscuI poIIcIes, LIe gov- ernment can ensure economic growth and a well-distributed Income. or exumpIe, LIe governmenL cun use ILs Income from selling natural gas to Improve InIrusLrucLure In edu- cation and healthcare to further IeIp LIe Iow-Income peopIe, Tin Win Aung said. Political parties should speak about these things. They should not be waiting in line for the counLry`s economy Lo deveIop Lo soIve LIe unequuI Income dIsLrIbuLIon. TIe governmenL should also show its commit- menL, Ie udded. According to an economic report earlier this year from InLernuLIonuI consuILuncy hrm McKInsey nsLILuLe, Myunmur`s GDP is likely to grow from $45 billion to $200 billion by 2030. Star City A5 Apartments Only for Rent Phyu Thit Lwin P roperties in the A5 section of the Star City Housing DeveIopmenL In TIunIyIn wIII be mude uvuIIubIe Lo renL, buL noL Ior suIe, uccordIng Lo M CIuIrmun U TIeIn WuI. n AprII, LIe hrsL group oI Iome owners moved InLo LIeIr Iomes In LIe S1 secLIon, wIIIe those in the A2 building will soon be ubIe Lo move. TIe A and A4 sections remain under construction and are expected to be ready by the end of 2014 and almost all of the apartments In LIe A secLIon Iuve been soId. 90 percent of apartments in LIe B1 zone Iuve uIreudy been sold and 60 of B2 and B5 apart- ments are up for sale. B3 and B4 apartments were put up for suIe on November zq. The Star City Housing de- veIopmenL begun In zo1o und is aimed at further spreading Yangons growing population as the city expands. R e u te r s A part of the Star City Housing Development project in Thanlyin. M receIved Kz.o bIIIIon ($z.oq mIIIIon) In Income, und K1.46 billion ($1.48 million) in prohL In zo1z-zo1 hscuI yeur. P h y u T h it
L w in Myanmar Summary FMI ~.~~ ~_..:~.~q ._ .,._~e.~.q:- A5 ~..:~~~~ ..q:.. ~ :. .~ .~ .: _.. . . :. ._ _e. _. . ~..:~ ~~ ~. . . - ._._ . ~ ..,~.qqq, ...:..q...,... ~ q, .,q:.:.~ , .. . .. :.._e FMI ~ _ .. . ..~- ._.:_~:..~ ~q .q._. ~. .|. . ~ , .-.... . ~..:~ ~~~ A1 ~..:~~~_ -_.. ~ .q.:. ~~.,.~...._ .q ._.:..,._~_.. A2 ~..:~ ~~. : ~_..:~_.....~:.__e. q: . q .:. . ._.: ....:.._~: . A3 . A4 ~..:~~~.:.~ ._. .~.~..:~...~q_.. ~~, . . . . . ~ , . .~ ~~ .q:~ ., . ._ _e. ._ . _.,.:.~.,_e ~.._... .~. ~._.._.... ~ :e.~ .:.~ ._eq .. :.q._ _e. ._~: . . .. :. .q.._:q .:.- . ... ._ .:_ ~:. .~~q .q._. q,~,_ _...~.....: ~. ~. ~. . _ q, ~ , . .. :..q.~~ . . .~.~~.....-._:,. ~_.. .:...q:.:_e.._ ...:..:.. ~ ~.._..~ ~._.._.... .e.~ ...:.q, .~.._~:. .~ ~. . . .:. ~. . . : ~. , .. ..: _~e~_.. q:..,...:..:.. : ~.,..q_~_.. ~.:...: .,.q: .,q:.q_~._~:. ._.:_~:..._. ,.~ ~.._... ~._.._. ...~.: .~...q.,._~:. ._. ...:. ._.:_~:..._. _ ., .:. q ._ .e:~:.. ., ..|.~ ~.,....:_~e~..:.~ .. :._. . ~ . ._ .. ~. . ~_ ..: _..,:.e ~ ~ . _. ._.. . . ._...:._. _..,:._e.._~:. ....e: ...q .. . . _.. . ..: ...:..q.eq.~ ._.:_~:..._. MCC Group - ~__e...: .~~..~:~ ~.qq.._. _..._~: .~._ ~_~..e~. . ._ .~ .:.~ _e. . :..._.. . ~. . . .q..~_ ._ . _e. . . . .~_ ..._~:. ._.:_~:..._. IT & TELECOM 27 December 5-11, 2013 Myanmar Summary Contd. P z8...(Telenor) Myanmar Business Today www.mmbiztoday.com MRTV to Get Australian Counterparts Help Aye Myat T he Australian Broadcast- ing Corp (ABC) will cooperate with state-run Myunmur RudIo und TeIevIsIon (MRTV) In progrum broudcusL- ing in a bid to increase the tech- nical skills of local broadcast media professionals. A memorandum of under- sLundIng (MoU) Ius been signed between the two parties regurdIng LIe cooperuLIon, state-run daily New Light of Myanmar said. The ABC is Australias na- tional public broadcaster. With a total annual budget of A$1.18 bIIIIon, LIe corporuLIon pro- vIdes LeIevIsIon, rudIo, onIIne und mobIIe servIces LIrougIouL metropolitan and regional AusLruIIu, us weII us overseus through the Australia Network und RudIo AusLruIIu. ABC becomes the second foreign media to cooperate with Myanmar in the nascent sector uILer VoIce oI AmerIcu (VOA) sIgned u sImIIur MoU In June last year. VOA Is provIdIng Myunmur wILI udvunced equIpmenL und training courses for the employ- ees oI MRTV Lo Improve LIeIr technical skills. Myanmars cooperation with foreign media comes as the for- mer pariah country embarked on a road to political and eco- nomIc reIorm sInce u cIvIIIun governmenL wus InsLuIIed In March 2011. As LIe governmenL reIeuses ILs IroncIud conLroI over LIe medIu secLor In Myunmur, u number oI IoreIgn medIu sucI us CNN, BBC und AI Juzeeru Iuve been ucLIveIy seekIng Lo enLer LIe IocuI LeIevIsIon broudcusLIng market. Although funded and owned by LIe governmenL, LIe ABC re- mains editorially independent as ensured through the Austral- ian Broadcasting Corporation Act 1983. MRTV Is operuLed under Myanmars Ministry of Information. Myanmar Summary Apple Acquires Israels Primesense In A $350m Deal A pple Inc agreed to buy Israel-based PrimeSense Ld, u deveIoper oI cIIps that enable three-dimensional mucIIne vIsIon, Ior ubouL $o mIIIIon, BIoomberg reporLed citing a source. PrimeSenses sensing technol- ogy, wIIcI gIves dIgILuI devIces LIe ubIIILy Lo observe u scene In LIree dImensIons, wus used Lo IeIp power MIcrosoIL`s Xbox Kinect. Apples interest in PrimeS- ense wus hrsL reporLed In JuIy by the Israel-based Calacist news website. Apple buys smaller technol- ogy companies from time to LIme, und we generuIIy do noL dIscuss our purpose or pIuns, u company spokeswoman Kristin HugueL LoId ReuLers vIu emuII. The PrimeSense deal makes it Apples second purchase of an srueII compuny. L bougIL usI storage chip maker Anobit in Junuury zo1z. PrImeSense`s InvesLors In- cIude Cunuun PurLners, SIIver Myanmar Summary Austral i an Broadcasti ng Corporation (ABC) ~.,_e _.,.: . -. . Myanmar Radio and Television (MRTV) . ....|._ _._ ~ ., . . ~ . . . . e:~. . ~ . .:. - ,_ . ._:.. . q_ .:. ~.~~.:..q,~~~ ,..~ .....q: ~.~.~.q.~ _....:..__e.._~:. .q._. ~. .|. ...| ...: q ~ . ~. ~. ~~~ ABC . MRTV ~. ,:.._..:.,.:~ .~.~.q.. ._.._e.._~:.._. .q._. ABC ._ _..._~...- ~...:. ~.:._._ . . q:, . . ~ . . _e. _. . ~. . . ~: ~ ~ ..:~. . ..| . . : _..._~....'.: ~.~ .e Apple Inc ._ ~..q.~._..~ 3D ~_. e,~..._ ,_.._:q ._ PrimeSense Ltd ~:. ~.. q ~, ..'.: ,~ . . e _e ~e eq, ..:~_.._.e.~.~-,_. ._:_e ~q:~~.:.~:. ..e~_. . . _e _. ~ .e, ~ .. _. . Microsoft - Xbox Kinect ~~~ ~.:~ ~~_e...q,~~~._. ~.._.. ._. Apple - Prime Sense ~:. ~e e q, . ~ ~ .:.. ~ ~ . .~~_. ~ . q . q_.. ~. .q.~._.. ~ Calacist .~.~~.~~ .~..e:_.. ._~:.._. .q._. Apple . ,_.._:~.~e.:.~ ~ee._.. .ee~:._e q_qe.~. ~. ~. .:.~ .. ... ... .q ._~: . ~.~- ._.:.q...q. Kristin Huguet ~ ,~~:. ~...... ~..._.:_~:..._. Prime Sense ._ Apple - . ~ e._.:~ ~. .q. ~ . ~~. . ~:. ~e e _. ._e. _. . ~~ . . . ~,,~|q.~ Anobit ~:. ~ee.._. uke, GemInI srueI unds und GenesIs PurLners, BIoomberg reported. Reuters ~q._. ABC ~.,_e ,._. ._~:. .q.e ~,... .. ~,..:..:.~ _._~..:.. _.. ._~..- ....:.~~. ..:q~ .,_.. ..eq._.:.~._. ..: q~..:.q._~:. .q._. ABC ._ _.,.:.. e_e. ~.~~.~_~ ....|...:q~ .:._ .~e._.:~ ._.:...e: .. , .~. . _e. _. . Voiceof America (VOA) ._ .,.._.. ~,.~ .~.~.q...._~:. .q._. A passerby photographs an Apple store logo with his phone in central Sydney. T im
W im b o r n e / R e u t e r s Telenor to Hold Career Seminar to Recruit Myanmar Employees Htet Aung T elenor Myanmar said it wIII IosL ILs hrsL cureer semInur In Yungon, bringing together expert speakers to share insights with candidates interested to build a career in the strategic telecom- munications industry. The seminar will be held on December 5 from 9am to 4pm uL LIe Co-OperuLIve BusIness CenLre (Iormer Suyur Sun PIuzu) in Yangon. Interested appli- cunLs wIII Iuve LIe opporLunILy to submit their resume directly to the company and learn more ubouL new cureer opporLunILIes, Telenor said in a statement. Attendance is free-of-charge und no regIsLruLIon Is requIred. AppIIcunLs Iuve Lo brIng copIes of their resume with them when attending this seminar. Since Telenor Myanmar IuuncIed LIe hrsL pIuse oI ILs employee recruitment program In AugusL LIIs yeur, LIe compuny Ius IIred ubouL 8o empIoyees, wILI Myunmur cILIzens LukIng up key positions in departments IncIudIng munugemenL, Iumun resources, und hnunce, umong oLIers, TeIenor suId. The company is on track to hire 160 employees by the end of LIIs yeur und 1,ooo empIoyees by LIe end oI zo1q, In uddILIon Lo creuLIng unoLIer z,ooo jobs through indirect employment with local business partners und vendors. We Iuve receIved un over- wIeImIngIy posILIve response Irom u dIverse runge oI cundI- dates who want to be part of TeIenor`s . work envIronmenL und cuILure, und we ure pIeused to be on track in meeting our short-term and long-term recruILmenL objecLIves, suId TIpuyuruL KuewsrIngurm, cIIeI peopIe omcer, TeIenor Myanmar. TIe compuny wIII uIso InvesL In cureer und skIII deveIopmenL programs for all employees in u bId Lo deveIop Myunmur`s telecommunications industry LIrougI job creuLIon und LIe LrunsIer oI experLIse, IL suId. The Telenor Myanmar Acad- emy, u cenLre Ior proIessIonuI deveIopmenL progrums Ior empIoyees uL uII IeveIs, wIII kIck o u serIes oI IeudersIIp und professional training programs Tipayarat Kaewsringarm, chief peopIe ofcer, TeIenor Myanmar, speaks at a press conference in Yangon. K y a w M in Contd. P z8...(Telenor) Telenor Myanmar ~ q,~,~ .. .. . , .-.~ .. .. . . , .. . .q: ....:e.e.~ _....:. ._ _e. _. . .~ . e .q.. . , .~ ~.~...~...~:._.q, .~~.:. . .:.~:. ~. .~ . .:.. ~_~ _~ .... .:.~ ._ . _.. . . :.._ _e. ._~:. .q._. ~..|....:e.e.~:. q,~,_. Co-Operative Business Centre ~ .~:. q~.,~ .,~ ,:q . _., , ,:q~ _...~...:. .__e.._~:. .q._. ~..|.... :e.e.. ~~.q:~ q, .~.|~.:...:.~.,_e ,.~ - resume .:.~ ~.~. ~~,~ .....:.q.__e.~: ~.~...~.. .~:....q: ~.~....:.~ .. .: . qq . :. ._ _ e. ._ ~: . Telenor . ._.:_~:.. ._ . December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com 28 IT & TELECOM Myanmar Summary From page z;...(Telenor) Ior LIe hrsL group oI ILs empIoy- ees In eurIy December, und wIII oer oLIer ongoIng LruInIng programs for new and current sLu members. The courses run by the academy will be conducted in Bungkok und Yungon, und wIII provIde LruInIng Lo equIp em- ployees with the knowledge and skIIIs requIred Lo perIorm In LIeIr roIes und supporL ucIIeve- menL oI LIeIr cureer gouIs, Telenor said. Kaewsringarm said: We take pride in knowing that our employees can share in our pas- sion and dedication to play an ImporLunL roIe In LIe deveIop- ment of state-of-the-art telecom InIrusLrucLure Ior LIeIr counLry, us weII us provIde InnovuLIve mobIIe communIcuLIon servIces that will empower society and enrIcI LIe IIves oI mIIIIons oI peopIe ucross Myunmur. From page z;...(Telenor) e .. ... :e.e.. ~~.q:~. .:.~.,_e ~.._~.. ...q, .. ~. .. .~.~_..~._. _....:. q, ..._~:. .q._. ~~.q:~ ...:.~.,_e ,.~- resume . ~ .:.~ . ... :e. e . . ~~ .q:~ q:~ e..:.:q,.: .~. ._~:. .q._. e... _.~.~ Telenor . . . .:.q :.e . ..: ..q. ~. ~. ~.q.~ ..~.~.q.~.,_e ..: q ~ . _. . . . .:...| . ~ , ..|. ~ ~...,~..._~:. .q._. e...~,~ ...:...|. ~'~ ~ ., ~. . :.._ ._._e. _. . ~~, ..~,~ ...:...|. ~~~~ ~ .,~..:.q, ~.~.q._~:. .q ._. _. .,:~. ~..~~..|. ~~~ ,..|.~._. _._~....:..q. . ...|.. . ..: . .:.. ~. . e, ~ . . :.e e q ._ . EU Hands Over Statistical Software to Myanmar Eyes improving the availability of reliable trade statistics Aye Myat T Ie Europeun UnIon IusL week Iunded over LIe EuroLruce sLuLIsLIcuI soILwure und reIuLed T equIp- ment to the Myanmars Central Statistical Organisation (CSO) in a bid to help the Southeast Asian nation generate reliable trade statistics. EuroLruce Is u soILwure LIuL Ius been deveIoped und muInLuIned by EurosLuL, LIe sLuLIsLIcuI omce oI LIe EU. TIIs software has been installed in over 6o counLrIes worIdwIde, IncIudIng In ASEAN counLrIes und regIon wILIIn LIe ASEAN Secretariat. TIe EU provIded LIe CSO wILI 1o compuLers, und serv- ers worLI over Co,ooo, uII equIpped wILI EuroLruce soIL- ware to process the trade data transmitted by the Customs Department. This will enable the CSO to dIssemInuLe LImeIy, reIIubIe und accurate trade statistics to all its users, LIe EU suId. EU umbussudor Lo Myun- mur, RoIund KobIu, suId, EU Is pIeused Lo supporL LIe strengthening of the Myanmar sLuLIsLIcuI sysLem, wIIcI sIouId transform into a national system of harmonised and consolidated statistical data at nuLIonuI IeveI. Kobia said this will produce beLLer quuIILy sLuLIsLIcs Lo meeL user`s needs und Improve eI- hcIenL poIIcy mukIng. TIe governmenL Ius been mukIng eorLs Lo prepure u nuLIonuI sLruLegy Ior LIe deveI- opmenL oI sLuLIsLIcs. TIe EU co-chairs the Sector Working Group on Statistical Quality DeveIopmenL, cIuIred by LIe CSO, wIIcI Is responsIbIe Ior LIe duLu cupLure, compIIuLIon and dissemination of statistics in Myanmar. TIe EU Ius been ussIsLIng both the CSO and the Customs Department of Myanmar to produce reliable and compara- bIe Lrude sLuLIsLIcs wILI ASEAN and international standards. TIe EU Ius been provIdIng reIevunL LruInIngs und T equIp- menL, IncIudIng LIe EuroLruce software in this regard. TIe Myunmur governmenL and policy makers need reliable and timely trade statistics that can assist in the formulation of trade policy and monitor Myan- mars economic integration in LIe regIon und InLernuLIonuIIy, LIe EU suId In u sLuLemenL. SInce Junuury, LIe EU Ius been supporting the work of the CSO under u C. mIIIIon pro- gramme aiming to strengthen the capacity of the Myanmar cIvII servIce In supporL oI LIe reform process. TIe EU ussIsLunce IncIudes sharing of technical knowledge und besL prucLIce, us weII us institutional support. The programme is implemented by BuL, wIIIe Sumsung Ius become the worlds biggest udverLIser, spendIng $q. bII- IIon on uds uIone IusL yeur, ILs gIobuI brund vuIue oI $q.6 billion is less than half that of AppIe, wIIcI spenL onIy $1 bII- IIon on udverLIsIng, uccordIng to Interbrand and ad researcher Ad Age. To be sure, Sumsung Ius u more dIverse runge oI mobIIe producLs, wIIcI uIong wILI ILs chips and household appliance businesses need more market- Ing ucross dIerenL LurgeL uudI- ences. BuL LIe Ieuvy murkeLIng spend suggests a need to con- vInce consumers LIuL IL beIongs uL LIe Lop. AppIe cun uord Lo spend less as it already has that brund recognILIon, und cucIeL. TIe sLronger, more dII- IerenLIuLed LIe producL, LIe less it needs to be propped up by udverLIsIng, suId Horuce DedIu, Iounder oI IndependenL reseurcI hrm Asymco und u Iormer NokIu busIness deveI- opmenL munuger, reIerrIng Lo Apples ad spend. Defending its marketing budgeL, Sumsung cun poInL Lo its lead in the global smartphone murkeL - IL seIIs one In every three smartphones and has more than double Apples mar- ket share. The Korean groups suvvy udverLs mockIng AppIe devoLees, und Ieuvy InvesLmenL In dIsLrIbuLIon cIunneIs Iuve strengthened its Galaxy mobile brand. From page ,...(Samsung) The Galaxy brand has estab- IIsIed ILseII, und LIe Sumsung brand is now much stronger than Android or any of the oLIer OEM brunds, excepL Ap- pIe, suId BenedIcL Evuns, un independent technology and media consultant in London. The underlying problem is that Samsung has established itself us u dependubIe quuIILy brund, noL u dIerenLIuLed or premIum quuIILy producL, so IL does besL where its not competing di- recLIy wILI AppIe. Samsung works with a num- ber oI udverLIsIng ugencIes, IncIudIng PubIIcIs Groupe, nLerpubIIc Group, und MDC Partners. Samsungs latest marketing splash has been on its Galaxy Geur smurLwuLcI, wIIcI Ius been uImosL unIversuIIy punned by revIewers. TIe devIce Ius been uggressIveIy murkeLed LIrougI udverLs und coIIuboru- tion with fashion shows yet onIy 8oo,ooo Geurs Iuve been shipped since its launch two months ago. Compare that to the more than 5 mil- lion Note 3 smartphones that Iuve been sIIpped sInce ILs IuLe-SepLember IuuncI, und IL suggesLs Iewer LIun u hILI oI LIe Note buyers are also buying the uccessory devIce. UndeLerred, Sumsung Ius vowed more Geur promoLIons for the crucial year-end holiday season as it seeks to lead the wearable computer market and prove ILs InnovuLIon credenLIuIs. Probably Samsung knows better than anyone that Gear will not become a mainstream producL. SLIII, LIey ure LryIng Lo convey LIe messuge LIuL 'we ure hrsL wILI sucI LecInoIogy,` which they hope will help build LIeIr brund us un udvunced LecInoIogy hrm, suId nLer- brands Moon. A deep-pocketed Samsung it eurned operuLIng prohL oI $q.6 bIIIIon In LIe LIIrd quurLer uIone - Is sLIII pusIIng LIe enveIope Lo wIn over consumers. TIIs monLI, LIe bIg-spendIng omcIuI sponsor oI LIe pusL eIgIL Winter and Summer Olympics launched a fantasy-inspired soccer marketing campaign ahead of the mid-2014 World Cup In BruzII - seIecLIng 11 oI LIe worId`s Lop pIuyers, IncIud- ing Argentine striker Lionel MessI, Ior u vIrLuuI muLcI Lo suve EurLI Irom uIIens - wILI LIe IeIp oI GuIuxy devIces. Reuters Myanmar Summary ~ .e. . , . ._ ~.~ ~ Eurotrace .:q.~....q:..:e~. .~ ..,_.._:~..~~.:~~~_. .. _ ..:.~:. _., .:. - -e .:q . ~ .~e ~._ .~:. ...~. . _. . _., .: .- ~,.e..q: .:q.~. ~.~ ~.~ .:.~ . . e _~_ . q .:.._ . . ~ .~~ .:..q, ~~ ~ e.~. ...~.._.._e.._~:. .q ._. Eurotrace ._ Eurostat . e,~.,....:...: ..:e~~. .._e._.. ~.:~.~,.q ...|. '~ .~: ~~ . e ...: e ~ ~:. _ . . ~. ._._~._~: . . q._ .~. .|. .:.~ ~:.e..:.._. ~.| ~~_e.._~:. .q._. ~ .e . -e .:q .~ .~e ~._ . _~.~:. ~,.~: ~~ ... .:-: .:.~ .:~ . . _. . ~, e .~:._e e , ,~~~~ q._~:. .q_.. ~.~:~ .,..._:,. ......: ~,.e. ~.~ ~.~ .:.~ Eurotrace ..: e ~ _e ..:q~.:..__e.._~:. .q ._.e_~_.~.q_.. .,~,~~ ..: ~ , . e . . q:.:q .~ .~.~ ~.~.:.~ ~.,.~.._.._ qq .:. ._ _e. ._~: . ~ .e . ._.:_~:. .._. _.,.:..q: ~.e.~.~_e. ._ Roland Kobia ~ ~.e~., _e _.,.:.- .:q.~..,.~:. . . . .:.:..q, ~~ ~ ~.:~ ~~...q._~ ~..._.:~._~:. ._.:_~:.._.. .:q.~..,.~.,_e .~. e,.~__.. ..:~~ ._ .:q.~..q: ~.~~.~ .:.~ _._. ._.: .. . _.. . . ._~: . ._. ._.:_~:..._. Samsung Electronics Co ._ e...~ ._~:_ :..,...:q~ . . ...~ ~ ..: q ~ . ~ ~ ~.. q~, ..'.: ~, . e , ..|. ~. ._. q, ..:.,.:._.. ~..|..:~.: Iceland - ....|._._~.~ ~,~,e.~. .~:.,.,._~:. .q._. .~:~q.e:.,_.._:..,._~. ~.,_e ~-. ,.q._~:_:.:. ......_~:_:..~_~..:.. ~:.~.:.. ~. ._:~. ~. .:.~ ._~:_:..,.~:. ~~:..~:. .~:._e ..:q~.,._~:. .q ._. ...~ ~ ~, e .~q ~..q ~, ..'.: .e~,e.q._ Samsung ._ ,.- ...~~..:q~..:. . ~.q:._.~..:.~ . ._~. ~~:.~.:.~_ .:..._ ..:q~ .,_. . Apple Inc ~:. . . e _. .: .q,~~~ _~.....,_.._e.._. e..~..:..~ Samsung - .,:~ . ...' Galaxy ..~ e , ..:.~ ,e..e:.~ .~.q:..._.. ,. ~- ._~:_:. : .~:_.. .q... .~: ~:eq ~~ .q. ..~ :. ~~~ ..:.~ ~ . . .q: ..q:~ ._. ._~:_:_ .q~.~~._e ~_. ..:. .|~ ._ ~~ ~ .~e, . .:.q . ._~:. .q._. Samsung ~.,_e ,.-~.~ ~..~:. .,...~e,~... .,..|~q,~~~ ._~:_:.:.~ ~:,.~....:.,..:._. ..: .,..~. .....:.- ~_.,._ ~:. ~ :e.~ ~ _ e_ ._ . q, ~~ ~ . ~. .,...._~: .._. . q._ . the International Management Group (MG), un InLernuLIonuI organisation operating in My- anmar since 2012. AUTOMOBILE 29 December 5-11, 2013 Myanmar Summary Myanmar Summary Myanmar Business Today www.mmbiztoday.com Suzuki Provides 100 Motorcycles to Myanmar Police J apanese automaker Su- zukI MoLor Corp donuLed 100 police motorcycles Lo LIe Myunmur governmenL last week to help the countrys police force in maintaining law and order. The motorbikes will be used us securILy veIIcIes Ior ASEAN leaders who will attend the ASEAN summIL nexL yeur, und to control law and order during LIe SEA Gumes wIIcI wIII be IeId Irom December 11-zz, oI- hcIuIs suId. TIese bIkes, wIIcI ure bused on V-SLrom 6o ABS, cosL ubouL K1z mIIIIon ($1z,zoo) eucI. Myanmars police chief Zaw WIn suId, TIIs donuLIon wIII help our police force maintain security during the regional summits. We will also procure more moLorbIkes |Ior LIe Iorce| and distribute them in town- sIIps uround LIe counLry. TIese SuzukI bIkes were presented at a ceremony at Myanmar International Con- venLIon CenLre In Nuy PyI Tuw. The ceremony was attended by governmenL om cIuIs wIIIe TosIIIIro SuzukI, execuLIve vIce presIdenL oI SuzukI MoLor Corp, presented the bikes. SuzukI enLered producLIon oI uuLomobIIes vIu ILs subsIdIury SuzukI Myunmur MoLor Co Kyaw Min Ltd in May this year wherein motorcycles ranging from 110 to 125cc are all imported into the country and distributed by its local dealer. Toshihiro said: We are planning to manufacture mo- torbikes and luxurious cars in Myunmur, und uIso IookIng InLo producing accessories for cars and motorbikes. AILer surveyIng LIe moLor- bike and car market in Myan- mur, we wIII decIde wIuL Lype of motorbike to manufacture Iere. q ~. e . . . ~ ~ .. ~e ~. . ~~~ ~ .~~.~.~~ _.,.:.q~.e . .~: q~~ .,_._.~: q _.,.:~~:.,q,e~,-.q.. ~:~ ...~...|,..._~: . .q ._. ~. .|..: .~: . ~e ~. . .~, e . . : ~..,. ~~ .,q~: e. .~e.:.~ e... .~:~ ~ ..._ ~.q .~: ~:q ~:.~.:. _..~._..~:. _.,.:.~ ~ ..._ ~~, . . . ~:. e . .. ~._ .~.~..:.. .~ .. ~._ . ~.~..:.. ~~.q:~._ ~:.e .~..... ~_~.~~.:.- ._. .q.e: ~, ..:.~ ._ . ~. ._. .:..__e.._~:. .q._. e...~.~_ .~~.~.~ . Executive Vice President Mr. Toshihiro ~ ~.e:.~ ..: .~: . ~e .~ ~ ~~, ..: .e .|. .,:~.q _.,.:.. : .~e.. ~ _._ . .~ q ~._.~.,~..'. ~_ _.. .~e.~ ~... :..e. ~....:.~:e:.~._. ~.. .:..e..,:~_.. ~:..~e, .~ .~_.. ~..._..~~._. ~ ...:.e ~.~.q~e. _., .:. q ..: .~: ~:., . ~e ...~ ~ ~ .. .:_... e . . ~e .. ~.....~:~ .._e~.:. .|.e ''e ._.:._ ._., .:. q ~. e . q .. .~: ~ .~ e. ~ . . ~ ~.~ . ~ . _.,.:.q~.e~:. q~.e.. .~e~.. ~~~ ..|,._... .~ .~ _ . . . . q ~. e . .. ~e .~ ..|,.~:e: ~q...~:..| ~e . . . . .. :._. ~. ._. .e . ~:. e . . .~._ .~.~..~ . : ._. ~.._..:..: _e..|~e. ~,.~:~~.,,._. ...,~e :.~ .~e.~q~e. .~.~ ,e._..~~.~ ..~e.~~ ....:..: _e..|~e'' e ._.:._. _., .:. . . ~ ~ .~ . ~ ~ ._ ~ . . . ~~_.~ Suzuki Carry ~:.~ _., .:. ~ ~. . ~ . . ._~._~:. .q._. China Breaks Up Gangs That Smuggled $164m Worth of Cars Ben Blanchard C IInese uuLIorILIes Iuve broken up six rings that smuggled around $164 million worth of cars into the counLry over LIe pusL LIree yeurs, IncIudIng more LIun 8o top-end models such as BMWs und RoIIs-Royces, sLuLe medIu said last week. Police arrested 54 gang mem- bers who had smuggled in the veIIcIes Irom LIe UnILed SLuLes, VIeLnum, Myunmur und Hong Kong, LIe om cIuI XInIuu news agency reported. The gangs had smuggled in more LIun ,ooo veIIcIes, IL added. Smuggling of cars into China has long been a problem for LIe governmenL, us cur-mud CIInese consumers Lry Lo uvoId puyIng sLeep Luxes Ior coveLed foreign models. TurIs on IoreIgn curs brougIL into China are 25 percent for uny Lype oI cur. n uddILIon, LIere Is u vuIue-udded Lux oI 1; percenL und consumpLIon Lux, wIIcI depends on engIne sIze. n JuIy, XInIuu uccused foreign carmakers of reaping exorbILunL prohLs by seIIIng imported luxury cars in China and called for them to face an unLI-LrusL InvesLIguLIon. Policemen are seen with Suzuki motorbikes, which were donated to Myanmar by Suzuki Corp last week, in Nay Pyi Taw. K y a w
M in ~,~~:~:..:.~ .,...: .....~:~~. ~..q~,..'.: ~', ..e ~,e.q~:..:.~ .. :. ~ , ~ .. ._ ~e ._.:~ . ~:. e. .. .. ._~:. .q._. ~..|..:.~, ~..._~:..:.~ BMWs . Rolls-Royces ~ ~ . ~. _. ~:. ..:.e.:.._. .|~._~:. .q ._. q.:.~.,_e ..:.~e~ , . ~ e....._.. ,.~. : ~..q~, -e~,. _.,.:. .e:.~:~. ~:..:.~ .. : . ~ . .. ._~: . qe:.~._:,. .~.~_.,. ._. ~..|..:.~..._~e .:.. : ..: .~: ~:.~. ..q..| . ,~~~ .~:~ ~...._~:.._. .q ._. Auto Sector Adds Spark to Japans Electronic Components Industry Nobuhiro Kubo and Yoshiyuki Osada J apanese electronic compo- nent makers are looking beyond u hckIe smurL- phone market that once lured LIem wILI rockeLIng growLI, Ly- ing their fortunes more closely Lo LIe mosL resIIIenL oI Jupun`s big industries: automobiles. Component makers such as Murata Manufacturing Co Ltd and TDK Corp are capitalising on rising demand for electron- ics like those that make cars safer with automatic braking or less polluting with engine controllers. n conLrusL, MuruLu und oLI- ers ure IuvIng un up-und-down ride shipping components for AppIe nc`s IPIones, wIIIe de- clining smartphone orders were u IucLor In Junuury wIen TDK slashed its full-year operating prohL IorecusL. TIe uuLo IndusLry oers u sLubIe uILernuLIve, especIuIIy because of the enduring promi- nence of compatriot automak- ers such as global leader Toyota MoLor Corp. TIe vuIue oI eIec- tronic components per car will grow z6 percenL over LIe dec- ude Lo zozz, uccordIng Lo ujI CIImeru ReseurcI nsLILuLe. BuL LIe puyo muy noL be us quIck und wIII Iuvour LIose wILI a longer history in the business. TDK and Murata were early to start working in automobiles und ure sLrong LIere, suId Munubu AkIzukI, execuLIve director at Nomura Securities. MovIng InLo uuLomobIIes Is noL so dIm cuIL buL IL Lukes 1o yeurs Lo beur IruIL. MuruLu Ius ucquIred severuI companies to bolster its posi- LIon In uuLos, IncIudIng InnIsI microelectro-mechanical sen- sor muker VT TecInoIogIes, bought in 2012 for 20 billion yen ($200 million). The sen- sors, wIIcI deLecL u cur`s move- menLs, ure used In sLubIIILy con- LroI sysLems Lo prevenL skIddIng that can cause accidents. Reuters Myanmar Summary ., . - ~ .~ .q:,. ~ ~,.:. _...._ ~.~.:.~.,_e ~:...,..:.. ~.~.q:,. ~~,.:. .:~....q, .~. ~.:._~:. .q._. Murata Manufacturing Co Ltd . TDK Corp ~._ .... ~.q:e~.q ._.. ~.~..:~ q~.,. .._._...,_..|.. .:.q._ ~.~.q:,.~:..:.- ~e.~:. _.~~.:._~~~ ~ .~ .q:,. .|~ .. _ .. :.~ .:~.q,~~~._. q..._... :.._. Apple Inc - iPhones . :e . .:. . : ~~~ ~~.:.. .~ _~ .,. q_. . ~_ .:...~ e , .. :.. :e . . :._ . ~ . . .: ._ ~._ .~.,~ _~.~.q._~~~ TDK ~., _e , .-~. . . ~: ~_.~ . ..: . , . .~~ ..:..q._~:. .q._. ..: .~: ~:.. . , ..:.~.,_e ~ .~ .q:,. .| ~ .. _ . . :. .:e. ~.~~..: ~__..:_.. ~:.~...~ ~.~.q:,. .|~ .._..:.-~,e.._ ~ ... ~ ' q:..,.~ ~.~~.: .__e.._~:.._. .q._. December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com CLASSIFIEDS 30 SOCIAL SCENES 31 December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com Toyota Dream Car Art Contest @ Hledan Centre Myo Myint Tein (L), general manager of TTAS (vehicle sales & marketing department), and Shotaro Honda of Toyota Tsusho Corp, attend the press conference. Phyu Tit Lwin Shotaro Honda (L), Toyota Tsusho Corp, U Aye Zaw, managing director of TTAS (2 nd L), artist Nyein Chan Su and actress Chit Tu Wai at the press conference. Phyu Tit Lwin SCG Sharing the Dream Myanmar 2013 in Yangon Pisanu Suvanajata, ambassador of Tailand to Myanmar, addresses the audience at the SCG Sharing the Dream ceremony held at IBC in Yangon. 100 high school students who have shown gratitude towards their families, proactively contributed to their communities and exhibited good academic records were awarded scholarships by SCG as part of the SCG Sharing the Dream program. SCG Myanmar Pisanu Suvanajata, ambassador of Tailand to Myanmar (L) and Chana Poomee, Country director, SCG Myanmar (R), awarding schol- arships to students from various townships in Yangon who were awarded SCG Sharing the Dream scholarships at a ceremony held. SCG Myanmar Chana Poomee, country director, SCG Myanmar, presents school supplies to a student as part of the SCG Sharing the Dream ceremony held at IBC in Yangon. 100 students received funding of up to K200,000 ($206) which will help cover school fees for an academic year as well as school supplies. SCG Myanmar Pisanu Suvanajata, ambassador of Tailand to Myan- mar, awards a SCG Sharing the Dream certifcate to a student. SCG Myanmar Sorasak Keeratichokechaikul, Government and Public Afairs Manager, SCG Myanmar, awards a SCG Sharing the Dream certifcate to a student. SCG Myanmar Pisanu Suvanajata,ambassador of Tailand to Myan- mar (centre, lef) and Chana Poomee, country direc- tor, SCG Myanmar (centre, right), fanked by students from Yangon who received the SCG Sharing the Dream 2013 scholarship. SCG Myanmar (Centre, lef to right) Sorasak Keeratichokechaikul, Government and Public Afairs Manager, SCG Myanmar, Pisanu Suvanajata, ambassador of Tailand to Myan- mar, Chana Poomee, country director, SCG Myanmar, and Dr Tun Myint, Vice-President, MBE, with students from Yangon who were awarded SCG Sharing the Dream 2013 scholarships. SCG Myanmar Suzuki Donation Ceremony of Police Bikes to Myanmar @ MICC (Nay Pyi Taw) U Soe Tane (L), union minister for the President's of ce, Toshihiro Suzuki, executive vice president of Suzuki Motor Corp, talks before the ceremony. Kyaw Min Delegates and government of cials listen to a speech. Kyaw Min Toshihiro Suzuki, executive vice president of Suzuki Motor Corp, gives his speech. Kyaw Min Delegates having lunch. Kyaw Min U Chan Maung recieves the Suzuki bike key. Kyaw Min U Chan Maung gives his speech. Kyaw Min Raul Falon, director of P&G, gives his speech. Kyaw Min Daw Win Win Tint, CEO of City Mart, gives her speech. Kyaw Min Film director Aung Ko Latt gives his speech. Kyaw Min Daw Khin Khin Lay, managing director of Forever Group, gives a speech. Kyaw Min Delegates pose for a photo. Kyaw Min Delegates at their dinner table. Kyaw Min P&G Water Donation Ceremony @ Traders Hotel Delegates inspect a bike. Kyaw Min Delegates pose with a bike. Kyaw Min Toshihiro Suzuki, executive vice president of Suzuki Motor Corp, pose with a bike. Kyaw Min Delegates pose with a bike. Kyaw Min Actress Chit Tu Wai gives her speech. Phyu Tit Lwin Delegates pose for a photo. Phyu Tit Lwin December 5-11, 2013 Myanmar Business Today www.mmbiztoday.com 32 ENTERTAINMENT The Best Dim Sum in Town Uncle Tah Y esLerduy evenIng, Ieurd tunes that reminded me oI LIe sevenLIes. It reminded me of being ten yeurs oId, sILLIng In LIe buck oI my purenL`s sLuLIon wugon, LIe wIndows down, u cooI breeze running through my hair. The radio was playing the exact same song that I had heard all those years ago. It was so sweeL wILI ILs IyrIcs, soIL und so beautiful with both its melody und Iurmony, pIuyed wILI LIuL dIsLIncLIve sound oI ucousLIc instruments. I couldnt imagine how or why the youngsters of Loduy Iuve noL Ieurd LIIs sorL of music before. It was at that time that I went for lunch. TIIs pIuce, Loo, brougIL buck memories from those wonder- fully nostalgic days all those years ago. A friend recently recommended me Lo vIsIL LIe Chinese restaurant in Yangons Truders HoLeI, wIIcI Ius recently employed a new chef from Hong Kong. My curIosILy eecLIveIy pIqued, some friends and I decided to see wIuL IL Iud Lo oer. A greuL vurIeLy oI dIm sum wus quued LIuL duy. We Iud Sew-MuI, Hu- Guo, Spure RIbs, RousLed Duck und CIu-SIew (RousLed Pork). To udd Lo LIe pIeusure, LIey were decoruLed wILI ubsoIuLe quuIILy and the taste was fantastic too. OI uII LIe greuL dIsIes LusLed, I would recommend both the roasted duck and pork. TIe duck wus very soIL wILI u smooLI LusLe, wIIIe LIe pork wus served wILI u sIIce oI KIwI IruIL. TIuL dIdn`L seem rIgIL, buL us soon us bIL InLo IL, LIe mixtures worked perfectly to gIve IL u wonderIuI LusLe. After all those starters (should we call them starters?) we had sweeL und sour soup, some uL noodle rolls and deep-fried soft Events Calendar Friday 6 th December Strand Happy Hour Drinks Friday Night Bike Ride- Contact Jef at milkmast@gmail.com or 09 5134190. Bike hire available. Saturday 7 th December Rehab Party House party at Yangons new- est club, Flamingo Bar, located at Yangon International Hotel. Hash House Harriers a drinking club with a running problem. 2.45pm University Avenue Road (opposite Yangon University) Sunday 8 th December Yangon Dragons Rugby Training 10.30am at Yangon United Football Club, Insein Road. Australian Club Barbecue Cook your own meat. Starts at 5.30pm Sunday Morning Bike Ride - Contact Jef at milkmast@gmail.com or 09 5134190. Bike hire available. Monday 9 th December Monday Night Meditation 7.15 to 9pm at 53A Golden Valley Road. Tuesday 10 th December Pansodan Gallery mingle and drinks sIeII crub. InuIIy, we ended wILI E-Mee noodIes und hn- ished our lunch with desserts. All of us agreed that this Chinese restaurant should be considered one of the best Dim- Sums in town.