March 6-12, 2014

Myanmar Business Today

mmbiztoday.com
mmbiztoday.com March 6-12, 2014 | Vol 2, Issue 10 MYANMARS FIRST BILINGUAL BUSINESS JOURNAL
Contd. P 22...(Singapore) Contd. P 22...(Singapore)
Contd. P 21...(PTTLP) Contd. P 21...(PTTLP)
Singapore Firm Secures 230MW
Myanmar Power Plant Financing
United Overseas Bank (UOB) to fnance power plant in Mon state
Zayar Phyo
S
ingapore-based Asi-
atech Energy last
week signed an agree-
menL Lo secure hnuncIng Lo
build a combined cycle gas-
hred power pIunL In Myun-
mars southeastern Mon
state, the company said.
Asiatech Energy was
commissioned to con-
struct the 230-mega-
watt (MW) power plant
in Mawlamyaing in Mon
state by Myanmar Light-
ing IPP Co Ltd (MLC).
Singapores United
Overseas Bank (UOB)
suId IL wIII hnunce LIe
project, without disclos-
ing the loan amount to
Asiatech Energy. How-
ever, several Singaporean
press reports indicated
that the project is worth
$170 million.
MLC will own and oper-
ate the power plant and
the electricity generated
will be distributed by My-
anmar Electrical Power
Enterprise (MEPE). Once
completed, the power
plant will produce enough
electricity to provide pow-
er to approximately 5 mil-
lion people in Myanmar,
the company said.
Tang Weng Fei, chair-
man, Asiatech Energy
Pvt Ltd, said, Asiatech
Is deIIgILed Lo be LIe hrsL
Singapore company to
build a combined cycle
gus-hred power pIunL In
Mon state to help serve
the electrical needs of
Myanmar, where only a
quarter of the population
of about 60 million cur-
rently has access to elec-
tricity, according to the
Asian Development Bank
(ADB). Outside the main
cities of Yangon, Nay Pyi
Taw and Mandalay, only
one In every hve Iouse-
holds is connected to the
electricity grid.
TIIs Is u sIgnIhcunL
milestone for us and UOB
has been instrumental to
this project by supporting
us with funding from Sin-
gapore, Tang said.
Frederick Chin, man-
aging director and head,
Group Wholesale Bank-
Ing, UOB, suId LIe hnunc-
ing of Asiatech Energys
project is in line with the
Myanmar Summary
Myanmar Summary
.~:.~._..~ Asiatech
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Tevin Vongvanich, chief executive ofcer of PTT ExpIoration and Production PcI, ThaiIand's top oiI and
gas expIorer, taIks during an interview.
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PTTEP to Invest $3.3b in
Myanmar in Five Years
Kyaw Min
T
hailands oil and
gas giant PTT Ex-
ploration and Pro-
duction (PTTEP) will
invest $3.3 billion in
Myunmur In LIe nexL hve
years, a top PTTEP execu-
tive said.
The company will set
aside 20 percent of its
$16 billion in capital ex-
penditure from now until
2018 for its drilling and
exploration operations in
Myanmar, PTTEP chief
execuLIve om cer TevIn
Vongvanich said at a
press conference in Yan-
gon last week.
At present PTTEP is
carrying out oil and gas
exploration and produc-
tion at seven blocks in
Myanmar M9 (Zaw-
tika), M3, M11, PSC G &
EP 2, MD7 and MD8. It
also holds a 25 percent
stake in the Yadana and
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Production (PTTEP) ._
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
2
LOCAL BIZ
MYANMARS FIRST BILINGUAL BUSINESS JOURNAL
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Business News in Brief
Myanmar to Gr ant SME Collater al-Fr ee Loans
State-owned Myanmar Insurance Enterprise (MIE)
will introduce an insurance policy that will grant small
and medium enterprises collateral-free loans in the
nexL hscuI yeur sLurLIng AprII zo1q, DepuLy Inunce
Minister Maung Maung Thein said. If the new system
works well for MIE, the 12 private insurance companies
will later be allowed to do it, he added.
GDP Falls Shor t of Expectati on i n H1 of 2013-14
FY
Myunmur`s GDP IeII sIorL oI LurgeL In LIe hrsL sIx
monLIs oI zo1-1q (AprIIJMurcI) hscuI yeur, u reporL
presented to parliament revealed. The actual GDP
reached only 5.9 percent against the target of 8.9 per-
cent, according to the report.
Govt Repor t Hi ghli ghts Gap Between Ri ch And
Poor
A report by the Ministry of National Planning and
Business Development said the gap between rich and
poor in Myanmar is widening. According to the report,
the government has only implemented only 32 percent
oI overuII projecLs In LIe hrsL sIx monLIs oI LIIs hscuI
year.
Myanmar to Launch Labour For ce Sur vey
Myanmar will conduct its second national labour
force survey, including the number of jobless, child la-
bourers, self-employed and those working abroad, the
Labour Ministry said. The International Labour Organ-
ization (ILO) and the Ministry of Labour and Employ-
ment will jointly carry out the survey.
Myanmar to For m ASEAN Ri ce Feder ati on
Myanmar will work for emergence of Federation of
ASEAN Rice Industry Association during its term of the
groups chair, Secretary General Soe Tun of Myanmar
Rice Industry Association was quoted in local media as
saying. Soe Tun said the proposal to form the federation
will be made at an upcoming ASEAN Economic Minis-
ters Meeting in August.
Yangon to Develop Mor e I ndustr i al Estates
Some new industrial estates will be developed around
commercial city Yangon to help reduce land prices at
existing estates, Kyaw Soe, regional minister for For-
esLry und Energy, suId. und prIces uL zq exIsLIng In-
dustrial estates around Yangon range between K60
mIIIIon und K8oo mIIIIon per ucre ($61,ooo-$81,qoo)
depending on the locations.
Over 100 Bi g Restaur ants to Under go I nspec-
ti on for Tax Evasi on
A total of 112 big restaurants in commercial city Yan-
gon will be inspected for tax evasion in a special cam-
paign to expose tax evaders, the 7Day Daily reported,
quoting Kyaw Kyaw, a member of the Tax Supervision
Board. He said over 70 big restaurants will be inspected
In LIe hrsL pIuse und LIe resL, In LIe second pIuse.
Sur vey to Be Conducted for I ntr oduci ng Health
I nsur ance
A survey will be conducted on the health require-
ments of people from the lower and middle classes in
Myanmar to introduce a suitable insurance system by
2015, the Voice Daily reported, quoting Deputy Finance
Minister Maung Maung Thein as saying. None of the
1 Insurunce compunIes operuLIng In LIe counLry oers
health insurance at present.
Myanmar -Si ngapor e J oi nt Ventur es Get Li st-
ed on SGX
Three Myanmar-Singapore joint ventures have joined
the Singaporean Exchange as they wait for Myanmar
to open its own stock market, according to local me-
dia reports. The companies are Yoma Strategic Hold-
Ings, AussIno und Super CoeemIx. Myunmur pIuns Lo
launch its own stock exchange in 2015.
Myanmar Summary
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
3
LOCAL BIZ
Myanmar Summary
Myanmar President U Thein Sein deIivers a speech during the president and IocaI
private businessmen meeting in Yangon.
U
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M
yanmar is in discus-
sions with many coun-
LrIes Lo Iower LurIs on
its goods or gain duty free access
in a bid to help local exporters
survIve sLI compeLILIons In LIe
international market, President
U Thein Sein said.
We have already been grant-
ed Generalised System of Pref-
erences (GSP) facilities by the
EU. Talks are underway with
Myunmur Porsoes Lower TuriHs, oty Iree Access: President
Zayar Phyo other countries to gain fur-
LIer Iower LurIs und duLy Iree
privileges, U Then Sein said
at a meeting with private en-
trepreneurs and representa-
tives of business organisations
at Yangon regional parliament
recently.
He said the government has
been successful in its endeav-
our to remove economic sanc-
tions that were imposed by
the international community
because of the previous military
regime. Since it came to power
in 2011, the quasi-civilian gov-
ernment under U Thein Seins
leadership embarked on swift
political and economic reforms,
which were rewarded by West-
ern governments through lift-
ing of sanctions, debt cancella-
tions and development aids.
If we can liberalise trade and
carry out more reforms, it will
allow us greater linkages with
international markets, which in
Lurn wIII benehL our exporL-orI-
ented industries, the president
said.
The government has already
carried out wide trade liberali-
sation measures, by facilitating
and promoting trade and pro-
viding trade education. It has
also undertaken steps to allow
citizens to have equal opportu-
nities in the trade sector, sus-
pended 10 percent export duty
and 8 percent commercial tax,
instituted measures that allow
businesses to obtain business
licences in Yangon and permit-
ted certain business activities to
run without requiring a licence.
Trade volume shot up from
$1.z; bIIIIon In zo11-1z hnuncIuI
yeur Lo $z1.; bIIIIon In zo1-1q
FY up to the second week of Feb-
ruary, the president said to em-
phasise the countrys economic
development in trade sector.
He said the Myanmar Invest-
ment Commission was estab-
lished to facilitate foreign and
domestic enterprises that want
to invest in Myanmar. Between
2011 and December 2013, a to-
tal of 188 foreign investments
poured in $8.2 billion in invest-
menL, wIIIe 1q IocuI hrms Iud
put in K2.2 trillion ($2.23 bil-
lion), he added.
Our country lacks invest-
ment, technology and human
resources, U Thein Sein said,
adding that the country is invit-
ing more foreign investment.
Myanmars ASEAN chair-
manship coincides with an im-
portant time when AFTA (ASE-
AN Free Trade Area) and AEC (
ASEAN Economic Community)
are going to be materialised.
While businesses based in My-
anmar will have an advantage,
it will be critical for medium
and large businesses that rely
on manufacturing and services
to strike the balance between
supply and value chain, U
Thein Sein said, calling for co-
operation from the members of
the business community.
He also stressed the needs to
establish a mechanism enabling
further cooperation between
the government and private
organisations, adding that the
government will set up Myan-
mar Business Forum which will
perform as a bridge between
government and private busi-
ness organisations.
Development of our private
sector is vital for the sake of
our economic development,
he said, adding that the private
sector accounts for 90 percent
of Myanmars economy.
The meeting gathered more
LIun qoo purLIcIpunLs IncIudIng
private entrepreneurs from dif-
ferent sectors, representatives
from business groups and par-
liamentarians.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
4
Myanmar Summary
Myanmar Summary
Japanese Retail Giant Aeon to
Branch Out in Myanmar
Shein Thu Aung
A
sias largest retailer
Aeon Co Ltd is planning
to expand its retail busi-
ness in Myanmar, a move that
wIII muke IL LIe hrsL Jupunese
retailer in the Southeast Asian
country.
According to reports in the
Jupunese press, LIe group Is
looking to set up a representa-
LIve omce In Yungon LIIs yeur.
The reports said Aeon eventu-
ally plans to open a shopping
mall in the city by 2016. No in-
vestment details were available
for the move.
I conhrmed, LIe move wIII be
in line with Aeons expansion
plans for Asia, which has seen
it move into China, Malaysia,
Thailand, and Vietnam. The
group also has announced plans
to enter the markets of Indone-
sia and Cambodia.
Aeon Is uIso buIIdIng ILs hrsL
shopping mall in Cambodia,
which is scheduled to open in
June.
HeudquurLered In CIIbu, Ju-
pan, Aeon is a retail network
comprising more than 250 con-
solidated subsidiaries and 26
equILy-meLIod umIIuLed com-
panies ranging from conveni-
ence stores Ministop and su-
permarkets to shopping malls
and specialty stores, including
Talbots.
Aeon, formerly known as
JUSCO supermurkeLs, gurnered
revenues worth $55.56 billion
in 2012, and has about 360,000
employees worldwide.
A shopper chooses goods at an Aeon chain store in Tokyo.
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Venus Bags Myanmar
Marketing Approval
for Elores
Kyaw Min
I
ndias Venus Remedies Ltd,
a research-based global
pharmaceutical company, is
set to expand into Myanmar as
it received marketing authori-
suLIon Ior ILs ugsIIp reseurcI
product Elores, the company
said.
Venus Remedies said it would
launch the drug in Myanmar by
April.
Chairman and Managing Di-
rector Pawan Chaudhary said,
This marketing authorisation
will help us make big strides in
Southeast Asia.
The size of Myanmars phar-
muceuLIcuI murkeL Is $qoo mII-
lion and the country imports
85-90 percent of its pharma
products. We are looking to
capture a sizeable chunk of the
antibiotics market in Myanmar
with Elores.
A few months ago, the compa-
ny got marketing approval for
Elores from Guatemala.
The company already re-
ceived patents for Elores from
q6 counLrIes. TIe regIsLruLIon
procedure of this product is in
advanced stages in 13 EU coun-
tries and 15 other countries,
including South Korea, South
Africa and Saudi Arabia. The
company has signed deals with
South Korean pharmaceuti-
cal company Goodwill Pharma
und SouLI AIrIcun hrm AusLeII
Laboratories for the exclusive
marketing of Elores.
EIores Is eecLIve uguInsL serI-
ous multidrug-resistant hospi-
tal-acquired infections involv-
ing metallo-beta-lactamase and
carbapenem-resistant strains of
bacteria.
The company said it has spent
$10 million on the products
R&D (research and develop-
ment).
Headquartered in Haryana,
India, the company has three
manufacturing units and 11
overseus murkeLIng omces, In-
cluding the US and Germany.
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Remedies Ltd ._ _.,.:.~
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.,.,. .| , ~ ~:_e. . Pawan
Chaudhary ~ e.~. ...~~
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Remedies ~.~._ Elores
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
5
Myanmar Summary
Contd. P 6...(Lconomic Crowth) Contd. P 6...(Lconomic Crowth)
Improving Myanmars Business Environment
for Sustainable Economic Growth
Kim NB Ninh and
Matthew Arnold
I
n a meeting with the
business community
recently, Myanmar
President U Thein Sein
declared that economic
development for the coun-
try is possible only when
the private enterprises
that constitute 90 percent
of the countrys economy
develop, and that the
government and the pri-
vate sector must work
hand in hand. He also
urged the business com-
munity to work with the
government in showcas-
ing Myanmars private
sector prowess during its
ASEAN Chairmanship.
Indeed, economic
growth in Myanmar has
been strong over the past
several years, with the
International Monetary
Fund predicting a 7.5
percent growth rate for
zo1q. CreuLIng u busIness
environment that is con-
ducive for increased for-
eign direct investment as
well as a vibrant domestic
private sector is a key ele-
ment in generating strong
and sustainable economic
growth.
At the local level, the im-
portant role of small- and
medium-sized businesses
(SMEs) to provide em-
ployment and services to
communities, to generate
much-needed revenues
for local governments to
hnunce socIuI servIces
and development initia-
tives, and to participate
eecLIveIy In LIe emerg-
ing production chains as
part of Myanmars region-
al and global integration
must be encouraged.
However, despite com-
prIsIng qq.q percenL oI
businesses in the coun-
try, not enough atten-
tion has been paid to the
business environment en-
countered by Myanmars
SMEs. Though they ac-
count for a much smaller
share of GDP than larger
hrms, LIeIr success wIII
be inseparable from the
growth and develop-
ment of Myanmars over-
all economy, especially
in terms of job creation.
Strengthening these local
agents of growth is de-
pendent not only on fur-
thering national reforms
but also on strengthening
the support of local gov-
ernments at the state and
regional levels.
For SMEs, the majority
of business-government
engagement happens
with subnational govern-
ments, including various
IocuI und sLuLeJregIon
authorities. A new discus-
sion paper jointly pro-
duced by The Asia Foun-
dation and the Myanmar
Development Resource
Institutes Centre for Eco-
nomic and Social Devel-
opment analysed the role
that local government
institutions in Myanmar
play in economic govern-
unce und Iow LIIs uecLs
SMEs. Intending to pro-
vide a more nuanced view
of the reality for business-
es operating in Myanmar,
the research team carried
out 30 in-depth inter-
views and focus groups
with businesses, business
associations, and govern-
menL omcIuIs In Lwo cIL-
ies, Mawlamyine in Mon
State and Monywa in Sa-
gaing Region.
TIe reporL hnds LIuL,
despite changes in gov-
erning structures over the
last few years at both the
national and subnational
IeveIs, omces under LIe
control of both the Un-
Ion und LIe sLuLeJregIon
governments continue to
work together on a wide
runge oI Issues uecLIng
busIness. TIese omces
form a web of interlinked,
overlapping, and often
ambiguous authority. In-
sLeud oI dIerenL purLs oI
government having dif-
ferent responsibilities, in
Myanmar, every part of
government plays a role
in everything, particularly
at the local level. This dy-
namic is at the root of the
excessive red tape and bu-
reaucracy that currently
constrain businesses, es-
pecially SMEs.
Businesses engage with
government for a wide
range of services and
permissions. Among the
most important are oper-
ating licences, construc-
tion permits, inspections,
LuxuLIon, hnunce, und LIe
provision of infrastruc-
ture and basic utilities.
DIerenL hrms experI-
ence these interactions
dIerenLIy, dependIng
on the size of the busi-
ness, sector of operation,
or networks of the busi-
ness owner, with fewer
dIerences evIdenL be-
Creating a business environment that is conducive for increased foreign direct investment as weII as a
vibrant domestic private sector is a key eIement in generating strong and sustainabIe economic growth
in Myanmar.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
6
Myanmar Summary
From page ,...(Lconomic Crowth)
From page ,...(Lconomic Crowth)
tween geographic loca-
tions. The report found
that businesses almost
universally view the two
most lucrative taxes, the
commercial and the in-
come tax, as problematic
as they do not generally
follow prescribed sched-
ules but instead depend
on relationships, nego-
tiation and bribery. Other
important interactions,
such as inspections and
obtaining construction
permits, were generally
viewed as less of an obsta-
cle to doing business. By
example, most businesses
noted that they had been
inspected at some point,
LIougI LIe LIme und h-
nancial burdens were
minimal.
While the business en-
vironment remains chal-
lenging in Myanmar, one
area that has seen nota-
ble improvement is the
governments willingness
to engage and commu-
nicate with the business
community, as echoed
in President Thein Seins
address. An increas-
ingly common sentiment
among business owners,
especially those of SMEs,
is that government is now
more open, and that it is
easier to meet with gov-
ernmenL sLu. Muny new
"Though they account for a much
smaller share of GDP than larger
firms, their success will be
inseparable from the growth and
development of Myanmars overall
economy, especially in terms of job
creation."
committees have been
formed through which
businesses can advocate
for improvements in gov-
ernment services or in-
frastructure. Often, the
sLuLeJregIon cubIneL cun
approve these requests
without higher authoriza-
tion from Nay Pyi Taw.
Bused on LIese hndIngs,
the report authors sug-
gest several policy recom-
mendations that need to
be prioritised. First, the
government needs to re-
duce red tape and bureau-
cracy and work to create
un emcIenL und predIcL-
able business environ-
ment. It is this not the
promotion of business,
or specIhcuIIy oI SMEs -
that will be fundamental
to the countrys develop-
ment. Complementary to
this, Myanmars civil ser-
vice must re-orient from
seeking rents to providing
services. Rent-seeking is
especially pronounced in
licensing and taxation,
and gradually addressing
this through increasing
civil service salaries and
penalties for corruption
will help lower the cost
of doing business and
improve the allocation of
labour and capital in the
economy.
Additionally, within the
parameters of Myanmars
wIder eorLs Lo decenLruI-
ise, it is imperative that
the government push to
clarify the roles of each
level of government and
their authority over busi-
ness to improve the pre-
dictability of government
in both policy and imple-
mentation and to move
from relationship-based
interactions to more for-
malised, transparent,
rules-based processes.
Kim NB Ninh is The
Asia Foundations coun-
try representative in
Myanmar and Matthew
B Arnold is the Founda-
tions assistant director
for Program Strategy,
Innovation, and Learn-
ing based in Bangkok.
They can be reached at
kninh@asiafound. org
and marnold@asia-
found.org, respectively.
Passengers check-in at an Air France counter in Nice InternationaI airport in Nice, France.
Air Irunce Luonches Codeshure Ilights to Yungon
Wai Linn Kyaw
F
rencI ug currIer AIr
runce Ius sLurLed yIng
between Yangon Inter-
national Airport and Charles
de Gaulle Airport in Paris via
Bangkok through a codeshare
agreement with Bangkok Air-
ways, the airline said.
Travellers from Myanmar will
now be able to travel to more
than 90 business and leisure
destinations across Europe,
Africa and Americas through
Bangkok and Air Frances hub
in Paris, Air France said in a
statement.
AIr runce currenLIy oers sIx
IgILs per week Lo PurIs CIurIes
de GuuIIe wILI u q68-seuL Boe-
Ing ;;;-oo uIrcruIL, wIere 1q
seats are Business Class, 32
PremIum Economy und qzz ure
Economy.
The airline said the connect-
ing time between the two car-
riers has been reduced to a
minimum at Bangkoks Su-
varnabhumi Airport to make
Europes hubs more accessi-
ble.
Air France said passengers
wILI IgIL connecLIons cun
obtain their boarding passes
E
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The article was origi-
nally published on The
Asia Foundations blog,
In Asia, and has been re-
published with The Asia
Foundations permission.
Ior LIeIr onwurd IgILs upon
check-in at Yangon, and also
check through the baggage to
hnuI desLInuLIon.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
7
LOCAL BIZ
Myanmar Summary
Contd. P 8...(China and India) Contd. P 8...(China and India)
Cun Chinu And Indiu Coexist in Myunmur?
Daniel Wagner and
cioncio c=sno
A
s in the past, so
in the future,
the people of
India will stand shoulder
to shoulder with the peo-
ple of Burma, and wheth-
er we have to share good
fortune or ill fortune, we
shall share it together.
Those were Indian
PrIme MInIsLer Juwu-
harlal Nehrus words in
1qq8, on LIe duy oI Bur-
mas independence from
Britain. Since then rela-
tions between the two
counLrIes Iuve ucLuuLed
between friendship, ne-
glect and outright hostil-
ity, yet Indias rise on the
international stage and
Myanmars democratic
transition are forcing
both governments to re-
assess the nature of bi-
lateral relations based on
regional geopolitical de-
velopments.
India views Myanmars
emerging political trans-
formation as a strategic
and ideological opening
LIuL oers New DeIII un
opportunity to dilute Chi-
nese Inuence wIIIe ex-
panding Indias strategic
depth. While India can-
not expect to rival Chinas
Inuence In Myunmur In
the near or even medium
term, it can have an im-
pact on that relationship.
In turn, Myanmar stands
to gain from a stronger re-
lationship with India on a
variety of levels, whereas
China views the strength-
ening relationship be-
tween India and Myan-
mar as a strategic threat.
India has long prided
itself as the worlds larg-
est democracy, as well
as being a leader of the
Non-Aligned Movement.
At previous junctures in
their modern history, both
of these factors contrib-
uted to the dynamics that
shaped the India-Myan-
murJBurmu reIuLIonsIIp.
Throughout the 1950s,
ties were cordial, however
the 1962 coup dtat in
Myanmar led to a deterio-
ration of relations. During
the two decades of Gener-
al Ne Wins junta, ethnic
Indians were targeted, be-
ing viewed as privileged
during British colonial
rule. The nationalist wave
that followed led to the
expulsion of many ethnic
Indians from the country.
India pursued a rather
disinterested and neutral
policy vis--vis Myanmar
throughout the majority
of the Cold War. By the
late 1980s, New Delhi be-
gan to play an activist role
by sponsoring the demo-
cratic opposition seek-
ing to establish itself as a
beacon of democracy in
Asia.
New Delhi soon learned
that such an idealistic ap-
proach to foreign policy
did not advance its stra-
tegic interests, nor did
it help the democratic
struggle in Myanmar, as
the repressive nature of
the regime only wors-
ened. As the military jun-
ta in Yangon grew hostile
toward India, China be-
came the regimes closest
ally. Indias approach to
Myanmars government
subsequently shifted to-
ward realism by 1995, as
New Delhi accepted that
the ruling junta was there
for the long term. There-
after, India became one of
only eight governments in
the world to sell arms to
Yangon, underscoring the
degree to which the bilat-
eruI reIuLIonsIIp ucLu-
ated since independence.
Following the com-
mencement of Myanmars
democratic transition in
2012, which led to the lift-
ing of international eco-
nomic sanctions, Indias
government and some of
its private companies saw
a strategic opportunity to
Inuence LIe subconLI-
nents periphery.
ndIun hrms sucI us
ONGC VIdesI, JubIIunL
Oil and Gas and the Cen-
tury Ply-Star Cement
group commenced opera-
tions in Myanmar. Total
Indian investment in the
country now approaches
$300 million. Yet this is
a small fraction of the to-
LuI $q bIIIIon In IoreIgn
direct investment (FDI)
that has reached Myan-
mar and the majority of
its FDI continues to origi-
nate from China.
While a decrease in Chi-
nese FDI in Myanmar has
ensued since 2012 the
government in Nay Pyi
Taw remains dependent
on China (and Russia) for
its military armaments.
Here, India is simply not
in a position to compete,
and probably will not be
for many years to come
if at all.
Indias lack of capac-
ILy Lo become un Inuen-
tial trade and investment
partner is driven by sever-
al factors, which include
Indias underdeveloped
energy infrastructure,
which limits New Delhis
capacity to transfer and
distribute Myanmars oil
and natural gas in India,
the reality that the two
countries mutual border
is undeveloped, which
contrasts with Myanmars
border with China, and
bureaucratic hurdles and
.:._ ~,:~ _ ~~ ~
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. :.._ e ~ . e. - ~, _~ .
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~, ... _.,.:. _-~,
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. ~ .. .q.qq . ._ ., ~ .
. ._ . ~. , . ._ _., .:.
. ~.e.~-.~..q.
._ ~~~ ~~~._.: .~.
.:..:q.._.
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~.:..: q ~ q, _e. .:. ._ .
_.,.:.- ..q.~._.:.
Chinese Premier Ii Keqiang (R) and India's Prime Minister Manmohan Singh wave towards the media
during Ii's ceremoniaI reception at the forecourt of India's presidentiaI paIace Rashtrapati Bhavan in
New BeIhi.
A
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
8
From page ;...(China and India)
From page ;...(China and India)
red tape that impede the
cross-border trade and
investment process.
India has every reason
to want to embrace My-
anmar at this time, and
to make as much progress
as is possible on the trade
and investment front.
New Delhis interest in in-
tegrating Indias isolated
northeast with the rest of
the country will continue
Lo provIde ndIun om-
cials with an incentive to
deepen economic, politi-
cal and military ties with
Myanmar. Yet security
dilemmas on both sides
of the border constitute
major concerns for Indian
authorities. For example,
the Buddhist-orchestrat-
ed pogroms against My-
anmars Muslims have led
to a radicalisation of some
Muslims in the region,
which threatens to re-
sult in retaliatory attacks
against Buddhist institu-
tions in India and other
corners of South and
Southeast Asia. The Naga
community, situated on
both sides of the border,
will also remain a concern
for both governments as
the concept of Nagaland
potentially threatens both
states territorial integ-
rity.
From Nay Pyi Taws
perspective, deeper ties
with India can alleviate
some of its own concerns
about destabilising de-
velopments on its side
of the border, while also
demonstrating that the
country can balance its
partnership with China
along with other regional
actors. Given Myanmars
economic and political
dependence on Beijing, it
should be expected that
the government in Nay
Pyi Taw will only do so
much, and with caution.
Even if Myanmars rela-
tionship with China does
not fundamentally shift
(and we do not expect
that it will), India and
other countries such as
LIe UnILed SLuLes und Ju-
pun - oer Nuy PyI Tuw
greater leverage against
Beijing by emphasising
that Myanmar has other
opLIons. CIInese omcIuIs
view the gradual devel-
opment of economic, po-
litical and military rela-
tionships with India as a
threat to Beijings unique
relationship with the
country.
Myanmars government
understands the value it
provides to both India
and China. Indias securi-
ty dilemmas and its inter-
est in new sources of oil
and natural gas will con-
tinue to drive its ambi-
tions vis--vis Myanmar
for the foreseeable future.
At the same time, Chinas
access to the Bay of Ben-
gal via Myanmar, and the
security of energy acces-
sibility via its landlocked
southern provinces, make
Myanmar an important
strategic partner for Bei-
jing. Within this context,
deepening ties between
India and Myanmar will
remain an issue for China.
Regardless of whether
Myanmar completes it
democratic transition or
retreats to resume its pre-
vious pariah status, its
geosLruLegIc sIgnIhcunce
and natural resources will
continue to shape the bal-
ance of power in a region
where Chinese and In-
dian interests intersect.
China and India can in-
deed coexist in Myanmar,
but China will maintain a
distinct advantage by vir-
"Even if Myanmars relationship with
China does not fundamentally shift,
India and other countries such as
the United States and Japan
offer Nay Pyi Taw greater leverage
against Beijing by emphasising that
Myanmar has other options."
~.~:. .e:-e:. ~~.
.e: ..: ~e ~q ~ .|.. .:
._ e ~ . e. ,_. :._. .
~.~~ ~.e-.e:-e:
tue of its recent history,
the nature of its military
assistance, and its align-
ment of long term inter-
ests with Nay Pyi Taw.
Daniel Wagner is CEO
of Country Risk Solu-
tions, Senior Advisor with
Gnarus Advisors, and au-
thor of the book Manag-
ing Country Risk. Gior-
io Ccjero is c resecrch
analyst with CRS based
in Washington. Mr. Wag-
ner can be contacted via
email at daniel.wagner@
countryrisksolutions.com
cnd Mr. Ccjero ct ior-
gio.cafiero@gmail.com.
This article was originally
published in the East-West
Center.
.q:~ ~.q..|. ~ ~ .~~ ..
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..~.q.qqq,~~~ _~....
. .:.~ ~~ ~_ ..... . ..
~.e~~._. ~,~.
._ ..~..q- ~,.~...
~..| .~.e: _ e. .:. ._ .
~~ . . . ~ _., .:. -. .
~q~ ~. ~._.: .~. .:.~
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.. .:.~ ._ e..: ... ..
~ . e~. .q. ~. . . ~
~.~.:.~~~._. .e:-
e:._.:~ ~. ~.. .~. q.
~_e. , _. .:... ._ . ONGC
Videsh, Jubilant Oil and Gas,
Century Ply-Star Cement group
~~. ~.e..,..:.._
_., .:. ~ . . , ..:. ..:
q ~ .:. _. . _., .:. ~ ~ . e
- q .. ._. . . . . . ..| .. : e.
~.| ~..q~,..'.: .,.
,~~ ~ q .:. _. _e. ._ ._., .:
.~ ._.:...,..:..
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. : ....|. ~..q~,..'.:
,, . e ~ q .,._.
Myanmar Summary
Myanmar Forms Anti-bribery
Commission to Iight Corroption
M
yanmar has formed an
Anti-Bribery Commis-
sIon Lo hgIL corrup-
Su Su tion and bribery in government
organisations, according to an
announcement from the Presi-
denL`s Omce.
The 15-member Anti-Bribery
Commission is headed by U
Mya Win, a retired military ser-
viceman.
Former ambassador U Tin
Oo was assigned as secretary to
the commission, the announce-
ment said.
The formation of the commit-
tee is aimed at helping build
good governance and a clean
government, it added. Myan-
mars current government took
omce In MurcI zo11.
The government last year en-
acted an Anti-Corruption Law,
which aims to eradicate graft
through a transparent govern-
ment to protect the public from
losses related to corruption, to
Luke eecLIve ucLIon uguInsL
corrupL pubIIc omcIuIs, Improve
the countrys economic devel-
opment and attract foreign in-
vestment.
An anti-corruption working
committee chaired by Vice
President Sai Mauk Kham was
puL InLo pIuce on Junuury 8 IusL
year, but the Anti-Corruption
Law called for a new commission
to enforce the legislation. Ac-
cordIng Lo LIe Iuw, pussed In JuIy
last year, Myanmar nationals
uged beLween q und ;o cun be
elected as members of the com-
mission, whose period of service
is to coincide with the presidents
and may only last two terms.
The commission is comprised
largely of former government
sLu wIose prevIous work Is
less known to the public.
Lawmakers expressed hope
last week that the new commis-
sIon wouId eecLIveIy rooL ouL
corruption in Myanmar, which
ranked 157 out of 177 countries
on Transparency Internation-
als annual survey of corruption
perceptions last year.
~..q~e~._..:.~~. ~~
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.:.~ ~ ~ e~ q, ~~ ~ ~~ .~
_..:...,~~~e~.q..~:.q
~ e ._ .. ._~: . .. ~, .. ~ _.,
._~_:.~~..~q .q._.
~..| ~~.~_..:...,~
~~e~.q..~:.q~ ~_...:.
......e:. ._.~....:..:
~e~ ~ . .|~._~:. .q._.
e. . ~.~ .e: . .~ .~:.
.~: .q -~~ ..q.. .~_e. ., ~.
. ._~: .._ . ~. .| ~ _., ._~_:
.~~q .q._.
e.~. .~:.~~:. e._.~_
.: _. .._ .~: .. , ..:~ . ..
. . ., q ...:~. .q~. q. _e. ~_
.:q, ~~ ~ ~.:~ ~~ _.q, q_
q e _ e ._ .~_ .: . _. ._e. ._ .
ParIiament representatives sign on registration forms at the union parIiament
buiIding in Nay Pyi Taw.
U
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US President Barack Ubama (R) shakes hands with Myanmar President U Thein Sein in the US. High
proIe visits from Western Ieaders to Myanmar emphasised on the fact that Myanmar has other options
than to reIy on China.
R
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
9
Myanmar Summary
Myanmar Summary
Allen & Gledhill Launches
Myanmar Associate Firm
Sherpa Hossainy
O
ne of Singapores largest
Iuw hrms AIIen & GIe-
dhill has launched an
ussocIuLe hrm In Myunmur, LIe
hrm unnounced.
Located in the countrys com-
mercial hub Yangon, the as-
socIuLe hrm, AIIen & GIedIIII
(Myanmar) Co Ltd, came into
operation last month.
The Yangon branch will be
headed by Allen & Gledhill
partner Minn Naing Oo, who
was previously the chief execu-
LIve omcer und regIsLrur oI LIe
Singapore International Arbi-
tration Centre, and before that,
a director at the Ministry of
Trade and Industry Singapore.
Allen & Gledhill (Myanmar)
currently has four lawyers, in-
cluding Minn, while two of
LIem ure Myunmur-quuIIhed
Iuwyers, LIe hrm suId.
Allen & Gledhill (Myanmar)
wIII oer u IuII runge oI IeguI
services including banking and
hnunce, corporuLe und com-
mercial, corporate mergers and
acquisitions and international
arbitration, a spokesperson of
LIe hrm LoId Myanmar Busi-
ness Today in an email.
TIe IuuncI oI LIe hrm Is purL
of Allen & Gledhills strategy of
developing a strong Southeast
Asia platform to meet the needs
of our clients, she added.
The launch of Allen & Gledhill
(Myanmar) follows the estab-
lishment of another associate
hrm, AIIen & GIedIIII (uos) Co
Ltd in Vientiane.
Myanmar is the most excit-
ing emerging market in Asia
right now with tremendous op-
portunities for investment and
huge growth potential, Minn
told Myanmar Business Today.
Allen & Gledhill has over 300
lawyers, and serves clients in
Southeast Asia, China, India,
the Middle East, the UK and the
United States.
E
lo
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Business Today-~ ..... . ~. .
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Chonghwu Telecom to Set Lp Myunmur Omce
T
aiwanese telecoms ser-
vices provider Chunghwa
Telecom (CHT) will set
up busIness omces In Myunmur
this year, a top executive said.
CHT will also establish an of-
hce In LIe PIIIIppInes In zo1q,
and plans to expand in India,
the UK, and Latin America in
2015-2016, CHTs International
Business Group president Leng
Tai-feng said.
Aye Myat
TIe overseus omces wIII oer
Chunghwa services to Taiwan-
ese companies and promote
cooperation between Chung-
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.:~ . ...._ . . , ._ e. ..:
Chunghwa Telecom (CHT) ._
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~. ..: ~. .~ ._.:_~:.. ._ .
Chunghwa Telecom ._ ~~,
...~~e....~._. ,.
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.q._.
hwa and local operators, Leng
added.
In terms of both revenue and
customers, Chunghwa is Tai-
wun`s IurgesL provIder oI hxed
line services, mobile services,
broadband access service and
internet service.
Headquartered in Taipei,
Chunghwa has over 28,700 em-
ployees and its revenues stood
at $7.17 billion in 2012.
W
M
C
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
10
Myanmar Summary
Myanmar Summary
Myanmar Summary
Ooredoo Set to Launch
mWomen Initiatives
Ross Cormack, CEU of Uoredoo Myanmar, and Cherie BIair at WorId MobiIe Con-
gress 2U14, BarceIona, Spain.
O
o
r
e
d
o
o

M
y
a
n
m
a
r
Phyu Thit Lwin
O
oredoo, one of the tel-
ecoms licence winners
in Myanmar, last week
extended its mWomen pro-
gramme, which aim to use mo-
bile technology to empower
women, in the Southeast Asian
nation.
The service will provide access
to maternal healthcare infor-
mation via mobile devices free-
of-charge, Ooredoo Myanmar
said.
The telecom company said it
received an Innovation Fund
grant from the GSMA Founda-
tion, to support the launch of a
multi-tier maternal health ser-
vice in partnership with a range
of local and international part-
ners.
Myanmar currently faces a
number issues related to ma-
ternal health, including a high
infant mortality rate and chal-
lenging levels of baby malnutri-
tion, and more than 70 percent
of births occur outside a profes-
sional medical service.
Ooredoo suId LIIs hrsL-oI-ILs-
kInd servIce wIII oer medI-
cally-proven content to women,
as well as direct channels for
users to contact medical pro-
IessIonuIs ubouL specIhc IeuILI
issues and seek treatment as re-
quired.
Dr Nusser MuruhI, Group
CEO, Ooredoo, suId: We be-
lieve every woman should have
an equal opportunity to use a
mobile phone. We work with
content experts, NGOs and
leading developers to ensure
that the information is acces-
sible, relevant and tailored for
womens needs.
We are now able to develop a
cutting-edge service that tack-
les a vital social issue in Myan-
mar.
The announcement was made
at the GSMA Mobile World
Congress in Barcelona, Spain.
The programme which has
seen success in Iraq, Indone-
sia, Qatar and Algeria has re-
ceived international attention
in recent years.
In September 2013, at the
Clinton Global Initiative (CGI)
Annual Meeting in New York,
Ooredoo and the Cherie Blair
Foundation for Women an-
nounced a tie-up to work on
womens entrepreneurship in
Myanmar.
The two organisations are de-
veloping a franchisee model to
enable 30,000 women by 2016
in Myanmar to become entre-
preneurs by selling prepaid
Ooredoo airtime to their com-
munities.
MAI Luonches Churter
Flights to South Korea
M
yanmar Airways In-
ternational (MAI), the
counLry`s ug currIer,
Ius sLurLed cIurLer IgIL servIc-
es to South Korea, making it the
muIden cIurLer IgIL servIce oI-
fered by the state-run airline, it
announced.
TIe cIurLer IgIL, wIIcI wIII
y beLween SouLI Koreu`s Bu-
san (Gimhae International Air-
port) and Yangon International
Airport, was launched on Feb-
ruary 21, Daw Aye Mra Tha, in-
IormuLIon omcer oI MA, suId.
MAI already provides sched-
uIed IgIL servIces Lo SouLI
Korea through code-sharing
arrangements struck last year
with Korean Air and Asiana
Airlines.
MA Ies Lo InLernuLIonuI
routes including Bangkok, Sin-
Su Su gapore, Kuala Lumpur, Gaung-
zhou, Seim Reap, Phnom Penh
and Gaya by Airbus A320 (180
passengers) and Airbus A319
(120 passengers).
TIe uIrIIne uIso oers domes-
LIc cIurLered IgIL servIces.
_.,.:.~ .~.e.q...
~ qq . ..: . . , ._~ .~. . _e. ._
~:~:. - Ooredoo ._ . , .
._ q~ .~ .~ ~ , .- mWomen
~. ~. ~:. .~ .~ ..: q ~ . _. .
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...:.~ ~,..:.q...:.q:~.
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~..~..:.:..~.. ~.._~.
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.:~ . .... :.._ _e. ._~: . Ooredoo
Myanmar . ._.:_~:.. ._ .e ..~
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~q _._~.. ~_.__._.q:.
. ...|..|~ ..: q ~ . .:.. ~~
. . ~, ..:.q...: .q :~ . ~, ..:.
.:.~:. .:~ . . . ..: . q, ~~ ~
. ~. ._ ~.:~ ~. ~:. GSMA
.e: ...q .. qq . ._~: . . q._ .
_., .:_._ -~. . ~_ ...: (IOSA)
.~.~q .q.._.:.~~~ .~.
q. ...._~: .. ._e. ..:~_._ _._
. q:_., .: ..._~: . (MAI) ._
~~, .....~_ ~q.e:..q..
.:.~ Korean Air, Asiana Airlines
~ . Code Share ~~ .~ . ...| ._
q, ~ , ... q, ~, .q . . .:. ~
. ., ..~ q ._ .,.~_. ~ q .e:.
q,~, .,..., (schedule) .q..
.:.~ ._. . ., .._... .... :.q,
....:q~.~q.|._.
LAB Opens New Brunch in Yungon
U
nited Amara Bank
(UAB) has launched a
new branch in line with
its expansion plans to tap My-
unmur`s boomIng hnuncIuI sec-
tor, an announcement said.
The branch, 25th of UAB, is
located on Kabar Aye Pagoda
road, Shwe Gone Daing in Yan-
gon.
The banks chief executive U
Than Win Swe said the banks
branch opening is a sign of the
countrys economic growth and
banking sectors development.
We want to make banking
services easily accessible for
customers. This branch open-
Kyaw Min ing will help strengthen our
operuLIon In zo1q, und we Iope
Lo exLend up Lo qo bruncIes
throughout Myanmar by this
year.
He said the bank also plans to
seL up q8 more ATM mucIInes
in Myanmars major cities, Yan-
gon, Nay Pyi Taw and Manda-
lay.
UAB currently has 22 ATM
machines within Yangon which
accept MasterCard, Myan-
mar Payment Union (MPU),
VSA und Jupun CredIL Bureuu
(JCB) curds. BesIdes IocuI mon-
ey transfer services the bank
uIso oers remILLunce servIces
through Western Union.
The bank has also invested in
setting up Core Banking Soft-
ware to provide hi-tech services
through a common network of
its branches, U Than Win Swe
said.
We are investing a lot to
improve our services and in-
frastructure. To facilitate cus-
tomers, UAB is soon going to
launch modern and innovative
products.
UAB sLurLed oerIng bunkIng
service after grabbing a banking
licence in August 2010.
e . ~ ~~ ~.q:~ (UAB) ._
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q ~ q, ~~ ~ ~ . .. ~.. ~
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~:. . . . .:~:..~: ..:..._ _e.
._~:.. e...~~. _.,.:.
~.~,.~ ~. ,~ ~ ~..e
. . . :.. q, ..: . , .:.._~: .._ .
,.~ ._.:_~:..._.
UAB executives inaugurate the bank's new branch at Shwe Con Baing in Yangon.
U
A
B
F
ile
s
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
11
Myanmar Summary
21
st
Centory Il orudo: Myunmur's Lntooched
Natural Gas Reserves
I
f I could put all of my
money into Myanmar,
I would. Myanmar is
in the same place China was in
early 1979, when Deng Xiaop-
ing said we have to do some-
thing new. Myanmar is now
opening up and its the next
economic frontier in Asia, said
JIm Rogers, commodILIes guru
and co-founder Quantum Fund.
In 1962 Myanmar (or Burma
as it was then called) was the
single richest country in Asia.
It was fast on its way to be-
coming the second developed
nuLIon In AsIu uILer Jupun.
The country was abundant in
rubies, oil, and valuable timber.
It also had the largest quali-
hed und educuLed workIorce In
Southeast Asia.
The main temple in Myan-
mars Royal City of Yangon
even has a diamond the size of a
hsL sILLIng on Lop oI LIe cenLruI
spire.
In a way, due to its natural
resources Myanmar was the El
Dorado of Asia. El Dorado was
the mythical South American
city nicknamed the Lost City of
Gold.
According to legend, El Dora-
do was abundant with gold. The
tribal chiefs and tribe members
all wore gold. Gold earrings,
gold pendants, gold plaques
and gold crowns.
Attracted by the tales of rich-
es, Spanish fortune hunters
(conquistadores) risked their
lives trekking through unchart-
ed territory. But it was a futile
search.
While local tribes used gold
for ceremonial purposes, the
amount of gold discovered by
the Spanish conquistadores
was nowhere near the amount
Jason Stevenson promised by the legends.
It turned out El Dorado was
a myth it didnt exist. But
Myanmar isnt a myth. It ex-
ists, and more than that, it po-
LenLIuIIy IosLs LIe worId`s hILI
largest conventional natural gas
heId.
Under-explored Energy Oasis
Thats what makes Myanmar
and the opportunity to invest in
this Real El Dorado an exciting
story.
Already, Myanmar has 20
trillion cubic feet (tcf) of natu-
ral gas reserves. Thats worth
around $106 billion at todays
natural gas prices. The great
news is most of these reserves
are still in place as Myanmar
has only exported its gas for the
past 15 years.
But that could be just the be-
ginning.
Since the 1970s explorers
have only drilled a total of 19
osIore expIoruLIon weIIs. TIIs
is an almost completely unex-
plored zone.
Experts suggest that in addi-
tion to the current 20 tcf of re-
serves, there could be another
80 tcf of undiscovered natural
gus worLI uround $qzq bIIIIon.
Add this to Myanmars other
potential reserves and the slow
freeing up of the economy, and
its no wonder that commodi-
LIes guru JIm Rogers wouId IIke
to put all of [his] money into
Myanmar.
You shouldnt take Rogers
view lightly. He co-founded the
Quantum Fund in 1973 with
another legendary investor,
George Soros.
He helped steer the fund to a
q,zoo percenL LoLuI reLurn be-
fore he retired at the age of 37.
So when Rogers says Myan-
mar is a great opportunity, I
listen. But before we go any fur-
ther lets turn back the clock.
At the Epicentre of Growth
Myanmar has been ruled by
a military dominated govern-
ment since 1962.
The military rule has had a
devastating impact on Myan-
mars economy. Due to its isola-
tion from international trade, it
has bypassed globalisation and
missed out on many of the ben-
ehLs oI Improved LecInoIogy.
To illustrate this, only 10 per-
cent of the population has ac-
cess to mobile communications.
Compare that to Australia
where almost all the population
has access to mobile communi-
cations, and most of them use
it.
In fact, a common saying
about Myanmar is that once
you land at the airport, you
have to wind your watch back
by decades.
But things are changing.
Recent once-in-a-lifetime
changes to the military con-
stitution means that ground
breaking reforms could be on
the way.
This would allow explorers
to exploit these undiscovered
oII und gus heIds und Ieud Lo u
boom for Myanmars repressed
economy.
The possibility is so big that
the growth potential for My-
anmar today could be on a par
with Chinas economic growth
from 1979 through to today. Its
that big.
And with todays technology,
Myanmars growth should hap-
pen much quicker than Chinas
amazing growth.
Marc Holtzman, chairman of
Meridian Capital, a leading bil-
IIon-doIIur prIvuLe equILy hrm,
has been to Myanmar eight
times over the last few years. He
says the reforms taking place
are real this time, the genie is
out of the bottle.
And the McKinsey Global In-
stitute, a top-tier global man-
ugemenL consuILIng hrm, esLI-
mates that Myanmars economy
could grow from $50 billion to-
day to $200 billion by 2030.
Thats a compound annual
growth rate of 9.68 percent
greater than Chinas current
growth rate of 7.5 percent. That
would do wonders to help lift
many of Myanmars 65 million
people out of poverty.
But thats not all. Its also im-
portant to consider geography.
Myanmar borders both China
and India. Those two countrys
populations combined repre-
senL qo percenL oI LIe worId
population.
In fact, as the following map
shows, more people live in the
circled area than live outside it.
It just so happens that Myan-
mar is almost at the epicentre
oI LIIs cIrcIe:
TIIs uIone oers u greuL op-
portunity in terms of providing
export markets for its natural
resources.
So, I hope you can see the scale
of the opportunity at play. An
economy thats set to quadruple
in size over the next 16 years,
one in which commodities guru
JIm Rogers wouId InvesL uII IIs
money if he could.
While I dont advise you to
take Rogers advice literally (as
in dont put all your money into
Myunmur) you sIouId dehnILe-
ly take a look at the opportuni-
LIes on oer us Myunmur opens
up to the world.
Juson SLevenson Is conLrIbuL-
ing editor at Money Morning.
_., .:. ._ _._. ._.: .. . .:.. :
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e ..: q ~ .:._ ~~ ~ . _.:.
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. q .,..:...~ ~ ~. . _e. .:. ._ .
. . ~ ~.,_e . . ~.. ~. . . ~ . .
..: q._ _e. ._~: . Deng Xiaoping
~ ._.:_~:.... _.,.:.._
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- .,:~ . . . . :..q. ~.:. ~.:
.~:.~.._e.._~:. J imRogers
~ ._.:_~:..._.
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.~e._.:~e_e._...~.._e..:
q, ~~ ~ ~.~:.. .~.,~:.~
q . ._ ._., .:. ._ .~ _.:. .q,
. ~e.~,~,....:...|.:._~e~
.. ~.q .~: ~:q ~ ~q_ ~. .
q ..: ._: ~~ . . .:. ~ ~:.
~.:.. .q ._ . ~. . ._._e. ._ .
.:~.e ~:~.:...|.:._~e ~.
._~: _., .:. ~ ~:q - El Dorado
e ..'.._~_.. El Dorado ._
.~: ~..q ~- _. ~. _. _e. _. .
Lost City of Gold e._. ..'~
..:_.~._._e.._. ._:q~
El Dorado ._ .q.:...|.:.
_~e~._.. ....~_~.~~.:..
. ..~ .:.~:.. .._ .q ~ ~~ .
_~_. . .q ,:.. .:. .q . . ..:. .q.
-,..:.. .q.qe.:.~ ~.._.._~
._e .._. El Dorado ._
._:q~...:_e._.. ~.,~~e
~_q._...q..:._. _.,.:.
._ ._:q ~. . .e ~ ~. , ~~e
~_ q .,.. ~. : . .._.:~ .:~
.:~.~.:......:..._.,
q:~..._. _e..,_.,._.
_.,.:.._ .:~.:~.
~-.. ~ q.e~q.,_.. e.,
..~ .:~.:~ . .... , .. . .
~..q~,..'.: ~~' .e~,.
~ ~, e .q .,._ . _., .:. ._
.,.._ ~ ..~~...: .:~
.:~..:.~:. _._..~..._
~~ ~ _., .:. ~ .:~.:~ .
~.:...: ~,q.,...._. ~~
. . . . ._ .q, . .:~.:~ . q :.e
.q.. . , ..:.. . . ..| .~. .. , .q,
~ . ~ . . .: ~ . . . .:.~ _.. .
. ._ .~. .~ . .:.- ., . , ..~ ~q
_.,.:.- e..~q~ .:~
.:~....:...: ~-.. ~ q
. e ~ q .,._ e ., . , .q..: ._ .
q :.e .~ q . .q ... ._ .:~
.:~...:~.: .,:~. ~-..
~ q.e~q.~: ~,e.~:.
_e ~..q~,..'.: ,, .e
~q._~:. .q._.
Myanmar has 2U triIIion cubic feet (tcf) of naturaI gas reserves. That`s worth around $1U biIIion at today`s naturaI gas prices.
The great news is most of these reserves are stiII in pIace as Myanmar has onIy exported its gas for the past 15 years.
F
r
a
n
c
o
is

L
e
n
o
ir
/
R
e
u
t
e
r
s
"Since the 1970s explorers have only
drilled a total of 19 offshore exploration
wells. This is an almost completely
unexplored zone."
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
12
Myanmar Summary
Index Creutive Villuge Luonches
New Myanmar Subsidiary
Aye Myat
T
hai event organiser Index
Creative Village (ICV) has
formed a new subsidiary
for exhibition and fair manage-
ment in a bid to strengthen its
foothold in neighbouring My-
anmar.
The new unit, ICVeX, will
work with other units of ICV
to set up trade fairs and exhi-
bitions in the Southeast Asian
counLry, LIe hrm suId. CV`s ex-
isting marketing arm in Myan-
mur oers evenL murkeLIng und
market research services.
Kreingkrai Kanjanapokin,
founder and co-CEO of Index
Creative Village Public Co Ltd,
said the opening up Myanmar
has resulted in a steady rise of
foreign investment and that
there is a need to hold trade
fairs and exhibitions to provide
more information to the busi-
nesses which are looking to en-
ter the market.
Nucharin Paradeevisut, managing director of ICVeX Co Itd, pose for a photo dur-
ing ICVeX`s Iaunch.
I
C
V
Myanmar is a country where
there are plenty of business op-
portunities. Index plans to pro-
vide the chance for investors to
know about the business situa-
tion in Myanmar by organising
events, Kreingkrai said.
Index is not only going or-
ganise events for clients, but
also will create a network of
business partners, public and
private investors, and agencies
in both Thailand and Myan-
mar. He said ICV previously
had chances to work with both
Thai and Myanmar govern-
ments including global brands
such as Coca-Cola and Schnei-
der.
Nucharin Paradeevisut, man-
aging director of ICVeX Co Ltd,
said with Myanmars economic
expansion entrepreneurs, both
large and small scale, are look-
ing for marketing channels.
However, they dont know
where to start in Myanmar mar-
ket. Trade shows or fairs are
French Embassy in Myanmar to
Issue Short-term Swiss Visas
Kyaw Min
T
he Embassy of France in Yangon will represent Swit-
zerland in terms of issuing short-stay visas to Switzer-
land, the Embassy of Switzerland in Myanmar said.
TIe ederuI DepurLmenL oI oreIgn AuIrs oI SwILzerIund
und LIe MInIsLry oI oreIgn AuIrs oI runce recenLIy
concluded an agreement where the French embassy in Yan-
gon will represent Switzerland in issuing short term visas for
Myanmar citizens travelling to Switzerland.
The measure was undertaken due to the introduction of
LIe bIomeLrIc ScIengen VIsu und In order Lo deIIver emcIenL
services for people travelling to Switzerland, the Swiss em-
bassy said in a statement.
The move authorises the French embassy in Yangon to de-
liver Schengen Visa C (short-stay visas) for a period not ex-
ceeding 90 days for a journey to Switzerland.
The Embassy of France will, however, not be able to issue
visas for applications for short-stay visa connected to gain-
ful employment (including drivers and journalists); applica-
tions for short stay visa connected to studies; applications
for short stay visa connected to medical reason; applications
of diplomatic and service passports holders that are not citi-
zens of Myanmar; applications of non-Myanmar passport
IoIders LruveIIIng Lo SwILzerIund Ior omcIuI reusons IncIud-
ing participation at international conferences, the Swiss em-
bassy said.
Myanmar Summary
LS, Myunmur Kick oH Herituge Conservution Project
Shein Thu Aung
T
he US Embassy in Yan-
gon and the Ministry of
Culture have agreed to
cooperate in cultural heritage
conservation in Mandalay, ac-
cording to an embassy state-
ment.
US Ambassador Derek Mitchell
and Deputy Minister of Culture
U Than Swe formally started the
preservation partnership at the
Shwe Nan Daw Monastery (Shwe
Kyaung) last month.
Over the next two years, US-
funded specialists will train local
craftsmen and government ex-
perts in preservation techniques
to preserve the culturally sig-
nIhcunL Leuk wood monusLery In
Mandalay, the release said.
Mitchell said the initiative
represents an important chap-
ter in the relationship between
our two countries, works to
preserve a key piece of this
countrys cultural legacy and
highlights the rich traditions of
Myanmar.
The project is supported
through the Ambassadors
Fund for Cultural Preservation
(AFCP), a US Department of
State Bureau of Education and
CuILuruI AuIrs (ECA) progrum
that supports the preservation
of cultural sites, cultural objects
and forms of traditional cultur-
al expression in more than 100
countries around the world.
Shwe Nan Daw Monastery is
one of the most visited monas-
teries in Myanmar erected by
Myanmar craftsmen during the
era of King Mingdon, founder
of the ancient Myanmar city of
Mandalay and its environs.
Myanmar Summary
Shwe Nan Baw monastery in MandaIay.
S
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regarded as a channel to reach
target audiences, and help all
industries grow.
She said ICVeX is preparing
to hold the Myanmar Interna-
tional Education Fair; Myan-
mar HoReCa (Hotel-Restau-
rant-Catering) and Myanmar
International Food & Beverage
IuIr In JuIy; Myunmur MedI-
Health & Wellness in August;
Myanmar Architect & Decor in
September; and Myanmar Auto
Plus, Automobile & Auto Salon
in October, Nucharin said.
The company forecast to bag
THB100 million ($3.12 million)
this year with its Thai opera-
tion contributing 80 percent
and the rest coming from its
overseas operations.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ
13
Myanmar Summary
evelopment Gups Muy Hold Buck AIC: Secreturiut
Shein Thu Aung
E
xisting gaps in develop-
ment in CLMV countries
(Cambodia, Laos, Myan-
mar and Viet Nam) may hinder
the plans for the creation of an
ASEAN Economic Community
(AEC) despite having experi-
enced robust growth for the
past 20 years, the ASEAN Sec-
retariat said.
The development gaps may
also hold back progress in re-
gIonuI cooperuLIon eorLs In LIe
ASEAN Socio-Cultural and Po-
litical-Security communities, it
said.
TIe hndIngs were reveuIed
at the Mid-Term Review on
the Implementation of the Ini-
tiative for ASEAN Integration
(A) Work PIun IeId In Ju-
karta recently.
Ambassador Kan Pharidh,
permanent representative of
Cambodia to ASEAN and cur-
rent chair of the IAI Task Force,
said ASEAN continues to at-
tach great importance and at-
tention to narrowing develop-
ment gap, promoting equitable
economic growth and reduc-
ing economic disparity among
member states of ASEAN.
ASEAN Ieaders at the Mid-Term Review on the ImpIementation of the Initiative for ASEAN Integration (IAI) Work PIan II in
]akarta.
While we recognise our sig-
nIhcunL ucIIevemenLs, we sIuII
acknowledge that our task and
objective in narrowing the de-
velopment gaps are huge and
challenging. More still need to
be done.
With the support of Australia
through the ASEAN-Australia
Development Cooperation Pro-
gram (AADCP II), a team from
the Mekong Institute was com-
missioned to review the IAI
Work Plan and assess its cur-
rent implementation approach-
es and modalities.
The IAI was launched by the
ASEAN Ieuders uL LIe qLI ASE-
AN Informal Summit in 2000
to narrow the development
divide within ASEAN and to
enhance ASEANs competitive-
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ness as a region. The leaders
during the 22
nd
ASEAN Summit
in 2013 called for a mid-term
review (MTR) of the Initiative
for ASEAN Integration Work
Plan for 2009-2015.
The MTR is expected to be
compIeLed In AprII zo1q und re-
porLed Lo LIe Ieuders uL LIe zqLI
ASEAN Summit in Yangon in
Muy zo1q.
For more information or to apply for a free place, please contact us at rsvp@euromoneyasia.com or visit our website
http://www.euromoneyconferences.com/ASEAN.html
Corporate ASEAN and the advent of the ASEAN Economic Community
The ASEAN Economic Congress
2 Apri| 2014 Pete| Mu|ia Senayan, Iakarta
In anticipation of the 2015 ASEAN Economic Community (AEC), the region is transforming itself into a single regional common market with free movement
of goods and services. The longer term implications to trade, labour and capital flows will be great for this convergence story.
Find out how business leaders are positioning their companies to adapt to an open ASEAN market which will comprise of over 600 million people and 10
countries.
Join the regions top policymakers, C-level business executives, bankers and thought leaders in Jakarta, home of the ASEAN Secretariat, on 2 April to find
out what the AEC will mean for the future of your company.
Euromoney will examine key themes of the AEC for both the public and private ectors including:
The ASEAN Economic Community. integration amidst g|oba| economic cha||enges
Corporate ASEAN and the advent of the AEC
C-|eve| conversation. from regiona| free trade to a regiona| economic community
China, Japan and Korea and the AEC
Bui|ding a competitive edge in ASEAN
Future of ASEAN trade finance
ASEAN capita| markets
Treasury so|utions for corporate ASEAN
RMB's ro|e in ASEAN
Future of AEC banking
Lead Sponsors Supporting Organisations
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ
14
Myanmar Summary
HTC Coonts on Cheuper Smurtphones
to Retorn to Prot in o1q
Jan sales down 38 pct y/y, Q1 revenue seen falling y/y
Paul Carsten &
Michael Gold
T
aiwanese smartphone
maker HTC Corp said
new lines of mid-tier
handsets will help it return to
neL prohL In zo1q, predIcLIng
cheaper products can help it re-
claim market share and put an
end to over two years of sliding
sales.
HTCs optimism comes de-
spite 27 consecutive months
of falling year-on-year rev-
enue umId sLI compeLILIon
from heavyweights like Apple
Inc and Samsung Electronics
Co. RecenLIy, HTC suId Junu-
ary sales slid 38 percent from
a year earlier to T$9.67 billion
($319.23 million).
CIIeI InuncIuI Omcer CIIuIIn
Chang told an analyst and in-
vesLor brIehng LIuL zo1q sIouId
see u rIse In gross prohL murgIns
due to an improved product
mix. What were shipping in
there, we want to make sure is
competitive, Chang said.
HTCs decline has been swift,
squeezed by cheaper rivals in
China as well as Apple and Sam-
sung. JusL over Lwo yeurs ugo IL
supplied one in every 10 smart-
pIones soId uround LIe worId:
in 2013 its global market share
had fallen to just 2 percent, ac-
cording to Strategy Analytics
analyst Neil Mawston.
That decline has left its mark
on investors. HTCs share price
has shown no signs of recover-
ing from a three-year slide in
value to one-tenth of its record
high.
HTC has acknowledged the
need for action. The problem
with us last year was we only
concenLruLed on our ugsIIp.
We missed a huge chunk of
the mid-tier market, said co-
founder and Chairwoman Cher
Wang, speaking to Reuters.
Amid the decline in its for-
tunes, HTCs brand image has
suered, und InvesLors Iuve
been desperate for signs of a
clear strategy though the an-
nounced push into mid-tier
smurLpIones muy oer u gIIm-
mer of hope for the company.
The CFO said that new mid-
tier and low-end handsets
should provide the majority of
revenue, bur suIes Irom ILs ug-
ship HTC One phone, after the
hrsL quurLer. or Junuury Lo
March, it expects revenue to fall
Lo T$q bIIIIon Lo T$6 bIIIIon
Irom T$qz.8 bIIIIon u yeur eur-
lier.
TIe compuny In Junuury re-
ported its second consecutive
quarter of operating losses, with
u sIIm neL prohL oI T$oo mII-
lion ($10 million) for the fourth
quarter helped by an asset sale.
Chang was optimistic about
prospecLs Ior ILs ugsIIp, Ieu-
ture-loaded HTC One smart-
phone, which won rave reviews
last year that have yet to trans-
late into matching sales. Reu-
ters
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Muluysiu's Petronus to Sell Vietnum Oilelds Ior $oom
Niluksi Koswanage &
Saeed Azhar
P
etroliam Nasional (Petro-
nas) wants to sell its stakes
In hve osIore oIIheIds In
Vietnam for a combined $300
million, two company sources
said, as the Malaysian state oil
hrm sLreumIInes ILs usseLs und
raises funds for expansion.
Petronas, like many other oil
companies, is look-
ing to sell aging and
less productive oil and
gus heIds Lo InvesL In
more prohLubIe us-
sets. The planned as-
set sale comes as Pet-
ronas taps into North
Americas shale boom
and further develops
Malaysian oil and gas
heIds.
The two sources did
not give further de-
LuIIs oI LIe heIds. TIey
declined to be identi-
hed us LIey ure noL
authorised to speak to
the media.
Another source fa-
miliar with the deal
said Bank of America Merrill
Lynch had been appointed to
hnd buyers Ior LIe sLukes LIe
company holds in the Vietnam
oIIheIds.
Petronas, which reports
fourth quarter earnings this
week, could not be immediately
reached, for comment while a
Bank of America Merrill Lynch
spokesman declined to com-
ment.
Earlier in February, Petronas
pIcked up u IuII sIure oI un o-
sIore oIIheId In SurInume Ior
an undisclosed sum and signed
a deal with Argentinas YPF to
jointly develop the Vaca Muerta
shale formation one of the
worlds biggest known reserves
of unconventional energy.
Reuters
Myanmar Summary
Petroliam Nasional (Petronas)
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A Petronas worker inspects a tanker in KuaIa Iumpur.
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Customers hoId bags containing their HTC Une mobiIe phone purchases.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ
15
Myanmar Summary
Myanmar Summary
GE and Navigat Sign Southeast Asia
Gus Ingine Sopply eul
Comapnies highlight 50MW gas engine power project in Myanmar
Wai Linn Kyaw
A
merican energy giant
General Electric (GE)
last week announced
that it has signed a framework
agreement with Indonesia-
based Navigat Energy Pte Ltd
to supply the latter with 100 gas
engines for its on-site power
projects throughout Southeast
Asia.
The 100 natural gas and eco-
mugInuLIon quuIIhed bIogus
gas engines will be installed at
various sites in Indonesia and
Thailand and produce a total
of 330 megawatts (MW) of, the
companies said in a statement.
Navigat, a developer of dis-
tributed power projects in
Southeast Asia, is GEs author-
Ised dIsLrIbuLor oI JenbucIer
gas engines in Indonesia, Thai-
land and Singapore.
Under the deal, GE supplied
70 natural-gas fuelled engines
for Navigat-owned independent
power plant (IPP) projects in
Indonesia and another 30 en-
gines for palm oil biogas power
projects in Thailand. The bulk
order is one of two major gas
engine supply and service con-
tracts GE signed with Navigat
Energy.
The agreements were an-
nounced during the launch of
GEs Distributed Power busi-
ness, which was established
in a bid to tap the demand for
smaller on-site power solutions
worldwide.
In addition to the three Nav-
igat Energy pacts, GE also
highlighted a blueprint pro-
ject in Myanmar that is being
developed by another Navigat
Group subsidiary, MAXpower
(Thaketa) Co Ltd. On Febru-
ary 7, Myanmar Electric Power
Enterprise (MEPE), Myanmars
state-owned electricity compa-
ny, executed a power purchase
agreement for the construction
and operation of a 50-MW, gas-
hred power pIunL In LIe TIukeLu
district of Myanmars largest
populated city of Yangon. The
50-MW plant will be powered
by 16 oI GE`s IIgI-em cIency gus
engines.
We are excited to support the
launch of GEs new Distributed
Power business, building on
years of collaboration on im-
portant gas engine projects to
support Southeast Asias grow-
ing demand for ... natural gas,
biogas and other alternative
energy solutions, Willi Gold-
schmidt, CEO of Navigat Group.
Together we have delivered
about 1,000 MW of distributed
power capacity to the region.
The second contract is a 10-
year material stream agreement
(MSA) that calls for Navigat
Group to provide comprehen-
sive maintenance support for
GE`s InsLuIIed eeL oI 1oo Jen-
bucIer J6zo gus engInes In
Singapore, Indonesia and
Thailand. GE and Navigat also
signed a memorandum of un-
derstanding (MOU) for GE to
suppIy NuvIguL wILI Lwo Jen-
bucIer Jqzo IeXLru nuLuruI
gas-fueled engines.
As demonstrated by our ma-
jor gas engine agreements with
Navigat Group, we intend to be
the distributed power technol-
ogy supplier of choice through-
out Southeast Asia and around
the world as economic and en-
vironmental priorities drive the
demand for on-site energy solu-
tions, said Lorraine Bolsinger,
president and CEO of GE Power
& Waters Distributed Power
business.
In October 2013, the Interna-
tional Energy Agency issued a
report, Southeast Asia Energy
Outlook, urging countries in the
region to improve their energy
em cIency Lo counLer u rupId In-
crease in energy consumption.
The report projects Southeast
Asias energy demand will in-
crease by more than 80 percent
by 2035. Currently the regions
per-capita energy use is still
very Iow, In purL becuuse 1q
million people, or more than
one-hILI oI LIe popuIuLIon, sLIII
lack access to electricity accord-
ing to the report.
A worker repairs a part of a turbine at a power pIant in Muara Karang, west ]akarta.
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Chinu's Youn islodges Swiss Irunc us ,
th
Most-Lsed Corrency: SWIIT
Michelle Chen
C
hinas yuan surpassed the
Swiss franc to become the
seventh most-used world
puymenLs currency In Junu-
ary, global transaction services
organization SWIFT said on
Thursday last week.
With a market share of 1.39
percent, the yuan remained one
of the top 10 most-used curren-
cies for payments worldwide for
the third consecutive month. It
ranked eighth in December.
Yuan payments increased by
30.6 percent while the growth for
uII puymenL currencIes wus q.8
percenL In Junuury, SWT suId.
However, yuan payments
were still heavily concentrated
in Hong Kong, which had a
market share of 73 percent, fol-
lowed by the UK, Singapore,
Taiwan, the United States,
France and Australia.
ookIng uL LIe hrsL monLI
oI zo1q, wIIcI wus LIe IIgIesL
payments value recorded for
RMB so far, it is clear that the
RMB is on its way to remain-
ing a top 10 currency for glob-
al payments, Michael Moon,
SWT`s AsIu PucIhc dIrecLor
of payments markets, said in a
statement.
BeIjIng Is sLeppIng up eorLs
to make its currency an inter-
national one by accelerating
reforms in domestic markets
as well as introducing pilot
programs to allow freer yuan
movements cross borders.
Over the last three years, the
yuan or renminbi has overtaken
22 currencies, most recently the
Singapore dollar, Hong Kong
dollar, and now the Swiss Franc.
The redback is now only
ranked behind the US dollar,
euro, sterling, yen, Canadian
dollar and Australian dollar, ac-
cording to SWIFT.
As a relatively low-risk, high-
yield currency that has gained
over 35 percent against the dol-
lar since it was revaluated in
2005, the yuan also has become
a growing favourite among in-
ternational investors. Reuters
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
16
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
17
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
18
OBG Report Churts Myunmur's evelopment us II Rockets
Launches frst-time report on the Southeast Asian nation
U
K-based publishing, re-
search and consultancy
hrm OxIord BusIness
Group (OBG) pubIIsIed ILs hrsL
country report on Myanmar
which sheds light on the coun-
trys new investment law, wide-
ranging reforms and emerging
economIc secLors, LIe hrm un-
nounced.
With most Western sanctions
now lifted and a new mining
law in the pipeline, The Re-
porL: Myunmur zo1q cIurLs
the considerable interest that
the countrys ore and gem re-
serves are generating among
foreign companies, OBG said in
a statement.
The publication also looks
in detail at the oil and gas
exploration earmarked for the
country, providing details of
the tenders already launched
Ior boLI onsIore und osIore
blocks, it said.
Regional Editor, Paulius
Kuncinas, said that incentives
contained in Myanmars new
investment law, supported by
legal reforms and low costs, had
combined to produce unprec-
edented opportunities for inter-
Kyaw Min national businesses.
While the rapid pace of de-
velopment in Myanmar has
inevitably brought major chal-
lenges, investors have shown
themselves keen to participate
in the countrys transforma-
tion, he said.
FDI has already risen expo-
nentially in the last two years,
and several sectors of the econ-
omy, such as telecoms, bank-
ing and energy, are evolving
beyond recognILIon, conhrmIng
just how extensively Myanmars
economic landscape is being re-
dehned.
Andrew Jereys, OBG`s CEO,
added that Myanmars move
to increase its participation on
the regional stage, which was
reecLed In ILs hrsL-LIme roIe us
ASEAN Chair this year, had not
gone unnoticed by investors.
Myanmars political and eco-
nomic development has been
well supported globally, while
the ASEAN Economic Commu-
nitys current focus on region-
al integration will facilitate
the countrys transformation,
he said.
The report features a range of
interviews with political, eco-
nomic and business representa-
tives, including President U
Thein Sein, along with a sector-
by-sector guide for investors,
LIe hrm suId. MInIsLer Ior LIe
PresIdenL`s Om ce und Iormer
chairman of the Myanmar In-
vestment Commission (MIC) U
Soe Thane, and the Minister for
Finance and chairman of MIC
U Win Shein were also inter-
viewed, it added.
The report also contains con-
tributions from international
hgures, IncIudIng US PresIdenL
Barack Obama, the President
oI CIInu XI JInpIng und LIe
Secretary-General of ASEAN Le
Luong Minh, OBG said.
With a new building code
in place and demand for both
om ces und IousIng on LIe
rise, OBGs publication high-
lights the raft of new develop-
ments coming on-line, which
are providing opportunities for
foreign investors to collaborate
with local players.
OBG suId LIe reporL oers
analysis of the major overhaul
planned for Myanmars trans-
port infrastructure, which will
include extending and upgrad-
ing the nations roads and rail
networks, alongside new air-
port projects.
The report analysed the gov-
ernments plans to attract new
FDI to the sector, which re-
mains dominated by extrac-
tive segments. It also discusses
Myanmars agriculture sector,
which remains a key contribu-
tor to the economy and should
expund sIgnIhcunLIy on LIe buck
of anticipated technical devel-
opment, backed up by reforms.
The report has been produced
with the Myanmar Investment
Commission (MIC). Contribu-
tions have also been made by
PricewaterhouseCoopers (PwC)
und Iuw hrm, KeIvIn CIIu Ld.
Myanmar Summary
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
19
Myanmar Summary
David Mayes
F
ollowing on from my last
weeks article on mining
stocks, this week I am not
goIng Lo LuIk ubouL u specIhc
sector but a country. The main
index tracking the Russian mar-
kets is the RTS Index, which is
a cap-weighted index of the 50
most liquid stocks on the Mos-
cow Exchange. This means that
as a companys stock goes up in
vuIue IL Ius u IIgIer eecL on
the overall index and less of an
eecL us IL goes down. TIus LIe
aggregate market cap of these
companies, or total value of
them taken all together, is very
accurately represented by this
index.
The Russian stock market as
represented by this RTS Index
could be one of the biggest val-
ues buys around at the moment.
In case you missed my article
last week, I do still believe we
are overdue for a market cor-
rection or crash, so we may see
Russia trading at even better
valuations than it currently is
before the market trades back
up to a more normal range.
I should point out for start-
ers that the Russian market is
not for wimps. This is a high
risk emerging market. You only
have to look back a few dec-
ades to remember the painful
crisis that was triggered from
the country defaulting on its
debL, wIIcI uIso Iud LIe eecL
of sending its currency into the
gutters. So this is by no means a
guaranteed trade since market
gains can easily be lost in cur-
rency losses, but from a pure
valuation standpoint it is hard
to argue that a mere 5.33 years
worth of earnings on the entire
market is an expensive price
to pay. I would gladly buy just
Is There a Russian Super Sale
Going on ut the Moment?
about any business on the plan-
eL wILI u puybuck perIod oI hve
yeurs, buL u dIversIhed porLIoIIo
of the top companies of an enor-
mous economy like Russia is a
great bargain trading at a price
to earnings ratio of about 5.
So why is the Russian index
at such lows while the S&P
500 and others remain at such
highs? In my opinion it mainly
boIIs down Lo beIuvIouruI h-
nance, and the divergence of
previous market leaders that
usually comes before any crash.
If you look at history, you often
see the sector, or story as it
often is, that leads the markets
up become LIe hrsL Lo IuILer. We
were taught in trading to look
for divergence in any short term
move among the leaders as the
hrsL wurnIng sIgn oI u poLenLIuI
turn. After the crash of 2008
the emerging markets led the
recovery, and now they have
been LIe hrsL Lo geL Iummered
back to the ground.
If history is any guide the
emerging markets will not lead
the next bull, but being as vola-
tile as they are even if they lag
the next leader to trade back up
to normal valuation levels the
investors in the Russian market
at these levels stand to make a
very nice return. I would be hes-
itant to pick individual stocks
in Russia. Rather, I would try
to either buy an index fund or
a broad based fund that comes
pretty close to replicating the
RTS. Remember what I men-
tioned above about currency
losses and keep it as a very
small part of an overall portfo-
lio or put a currency hedge in
place (not recommended for
your uveruge Joe). Over u Iong
time frame such as 15 years I
have a hard time seeing that
there is any way to not do very
well investing in this index.
David Mayes MBA provides
wealth management servic-
es to expatriates throughout
Southeast Asia, focusing on
UK Pension Transfers. He can
be reached at david.m@fara-
mond.com. Faramond UK is
regulated by the FCA and pro-
vides advice on pensions and
taxation.
.,.._~.~~ David Mayes
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A generaI view shows the reception of the RTS Micex exchange in Moscow.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
20
AB, Myunmur Sign $m Jupunese Grunt Agreement
Grants aimed at poverty alleviation and HIV/AIDS services
Kyaw Min
M
yanmar and the Asian
Development Bank
(ADB) have signed
Lwo grunL ugreemenLs hnunced
by Jupun LIrougI Jupun und
Ior PoverLy ReducLIon (JPR)
grants in a bid to alleviate rural
poverLy und expund HVJADS
services into remote areas, the
Manila-based lender said.
The livelihoods grant will
help communities develop vi-
able new income opportunities
needed to end the vicious cy-
cle of rural poverty, said Putu
Kamayana, ADBs Myanmar
Country Head.
TIe HVJADS ussIsLunce
will strengthen treatment and
prevention of the disease, in
collaboration with non-govern-
mental organizations (NGOs).
The lender said the $12-mil-
lion livelihoods grant will ben-
ehL uL IeusL ;oo,ooo peopIe In
villages in Ayeyarwady delta,
central dry zone, Tanintharyi
region and Shan state, where
some rural communities face
poverty rates more than double
the urban level.
Grants under the project
will help to identify and priori-
LIse communILy specIhc needs,
wIIcI cun LIen be hnunced
through community block funds
Lo enubIe ruruI peopIe Lo benehL
from political and economic re-
forms, said U Tin Ngwe, depu-
Ly mInIsLer Ior IIvesLock, hsIer-
ies and rural development.
TIe $1o mIIIIon HVJADS
JPR grunL wIII Increuse uc-
cess and quality to health and
HVJADS servIces, uIong IusL
developing economic corridors
in Mon, Kayin, and Shan states,
where new opportunities at-
tract migrant workers and mo-
bile populations, ADB said. An
estimated 200,000 people in
Myanmar are thought to be liv-
ing with HIV.
TIIs JPR IundIng wIII buIId
q; ruruI IeuILI cenLres und sub-
health centres, refurbish three
townships hospitals, supply
medical equipment and train-
ing, and lead to better access to
basic health services to some of
the countrys most vulnerable
people, said Kazuhiko Kogu-
chi, ADBs Executive Director
Ior Jupun.
Myanmar Summary
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Australian Firms Join Myanmar Investor Gold Rush
Ron Corben
A
ustralian businesses face
challenges in investing in
Myanmar, with analysts
afraid that political and econom-
ic reforms are slowing ahead of a
2015 general election.
Australian businesses, nota-
bly in mining and energy, have
joined in the rush to Myanmar
as it opened to the world since
reforms in 2011.
Sean Turnell, an economist at
Sydney-based Macquarie Uni-
versity, says the resource sector
leads strong foreign investor in-
terest.
If one was to look at wheres
the hard cash going, its that
one, Turnell said.
(It) just dominates beyond
measure and the big player in
that context is Woodside.
Woodside Petroleum, which
recently reported a 17 percent
IuII In unnuuI prohLs, suys My-
anmar is part of its long-term
growth strategy.
AnuIysLs suy sIgnIhcunL num-
bers of companies are bidding
for new oil concessions, with
Australian interest in mining
and exploration.
There is really big, serious
money there. So thats where
the real money is on the table,
Turnell said.
But in a warning to inves-
tors, Australias Department of
oreIgn AuIrs und Trude suys
Myanmars long entrenched
mIIILury remuIns InuenLIuI, es-
pecially in oil, gas and timber.
Australian companies taking a
stake in Myanmar include ANZ
Bank, with a representative of-
hce In Yungon und Iopes oI u
full banking licence once re-
forms take hold.
Foreign banks are still pre-
vented from conducting bank-
ing business in Myanmar, leav-
ing many waiting on the 2015
vote.
Myanmars booming tourism
sector, with visitors increasing
by 30 percent a year, has drawn
attention from Australian advi-
sory services and joint ventures.
Bungkok-bused Iuwyer JoIn
Hancock lists education, min-
ing, natural resources, land ti-
tling, mapping and supporting
legal reforms as opportunities
for his fellow Australians.
Youve got the whole legal
system, which needs a total
overhaul, and the land struc-
ture ... needs major reforms,
Hancock said.
All land is nominally owned
by the state.
Other concerns lie in imple-
menting the broad range of
laws that have been passed by
parliament, said Hancock.
Theres a lot of new laws com-
ing through but the actual detail,
the quality of the drafting, the
clarity of those laws and the in-
frastructure within the govern-
ment to implement them is just
really, really strained, he said.
Observers fear the reform
process may have stalled.
Turnell says, on land reform,
weve actually seen regression
rather than any progress.
Aung Zaw, editor of The Ir-
rawaddy newspaper, said many
in Myanmar fear reforms hon-
eymoon period is over.
It has been more than three
years, he said.
People in Burma said they
have seen a regression on every
front, particularly with the gold
rush.
(Investors) were fooled by
this reform process. Investors
are going in and the govern-
ment is good at manipulating
everyone. AAP
Myanmar Summary
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Staff at work in the dispensary of one of the MSF cIinics providing medicaI care
and treatment for patients with HIV/AIBS, tubercuIosis or sexuaIIy transmitted
diseases in Yangon.
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Myanmar's opposition Ieader Aung San Suu Kyi (I) reacts as she hoIds a media conference with AustraIia's Prime Minister
Tony Abbott at Canberra's parIiament house. NormaIised reIations between Myanmar and AustraIia has drawn attention from
AustraIian advisory services and joint ventures.
A
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Myanmar Business Today
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INVESTMENT & FINANCE
21
Myanmar Summary
Myanmar Summary
Myanmar Summary
From page ...(PTTLP)
From page ...(PTTLP)
TTW Eyes Myanmar in Its
First Overseas Project
Daisuke Lon
T
hai Tap Water Supply
(TTW) expects to con-
clude its plans to invest in
Myanmar this year, a top TTW
executive said.
TTW, which is a producer
and distributor of tap water in
Thailands Nakhon Pathom and
Samut Sakhon province, plans
to invest in a project to produce
qo,ooo cubIc meLres u duy oI
tap water in Myanmar, depend-
ing on the fate of the companys
talks with Myanmar authori-
ties, Sompodh Sripoom, direc-
tor and managing director of
TTW, said, according to Thai
media reports.
The total investment for the
project, which would be TTWs
hrsL overseus venLure, muy
amount to something between
$7.8 and $9.3 million.
However, the company does
noL expecL sIgnIhcunL prohL
from this small-scale Myanmar
project in the initial phase, the
managing director said.
TTW also plans to invest be-
tween $68.75 and $78.12 mil-
lion to expand its production
capacity by 100,000 cubic me-
tres per day, and hopes to gen-
eruLe $18q mIIIIon In revenue
this year, Sompodh said.
TTW will postpone its plan for
another foreign project, in Vi-
etnam, after two or three years
of negotiations have not shown
much progress. However, this
project could resume if the situ-
ation becomes more conducive
in the future.
Thai Tap Water Supply (TTW)
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YeLugun osIore gus projecLs,
which are being developed by
Frances Total and Malaysias
Petronas.
We consider Myanmar as
our second home. PTTEP plans
to drill more appraisal wells in
Zawtika and carry out explora-
tion activities in M3 to provide
natural gas for the domestic
market. The company will also
continue its exploration activi-
ties in M11, PSC G & EP 2 and
MD7 and MD8 for possible fu-
ture development, Tevin said.
PTTEP aims to produce
600,000 barrels of oil equiva-
lent per day in Myanmar, he
added.
Tevin said the Zawtika project
in the Gulf of Martaban, PT-
TEP`s hrsL gus projecL In My-
anmar, will start supplying gas
to Myanmar and Thailand with
an initial output of 300 mil-
lion cubic feet per day. When
the project starts to supply gas
to Thailand via a new pipeline,
Myanmar will become the big-
gest gas supplier to Thailand.
Myanmar invited bids for ex-
ploration contracts for 11 shal-
low-water and 19 deep-water
osIore bIocks In November,
and the winners are expected
to be announced at the end of
March. Tevin said PTTEP was
bidding for one new block, but
didn't disclose any details.
Foreign investment in Myan-
mars oil and gas sectors stood
uL $1q bIIIIon us oI December
2013, according to Myanmar
Investment Commission (MIC)
statistics.
Jupun's IIA
Gets MIC Nod
Htet Aung
J
apanese electronics maker
IIDA Electronics Ltd re-
ceived permission from
the Myanmar Investment Com-
mission (MIC) to manufacture
and sell electronic equipment
in Myanmar.
The factory will be set up in
Yangons Mingalardon Indus-
trial zone.
Established in 1965, IIDA has
a working capital of about $3
million and over 200 employ-
ees.
With $320 million in invest-
menLs In Myunmur, Jupun cur-
rently stands 10
th
in the foreign
investor lineup in the Southeast
Asian country.
Yangon Insitute of Economics Launches
Entrepreneurship Program
Kyaw Min
T
he Yangon Institute of
Economics (YECO) last
week IuuncIed LIe hrsL oI
several new entrepreneurship
centres, a statement said.
The HP Learning Initiative
for Entrepreneurship Centre
(HP LIFE) is part of a program
aimed at helping Myanmar cul-
tivate small businesses and sup-
port the countrys future busi-
ness leaders, the US Embassy
in Yangon said.
The centres opening repre-
senLs LIe hrsL pIuse oI ImpIe-
mentation of the program that
was initiated by the United
States Agency for Interna-
tional Development (USAID),
Ministry of Education, Indiana
University, Hewlett-Packard,
LIe gIobuI nonprohL busIness
network Business for Social
Responsibility (BSR), and Viet-
nam-based VinaCapital Foun-
dations Lotus Impact fund
called ADEPT (Advancement
and Development through En-
trepreneurship Programs and
Training).
The three-year program pairs
$1.3 million in partner contri-
butions with a $1-million US
Government grant to support
sIured eorLs Lo creuLe eco-
nomic opportunities for micro,
small and medium enterprises
through information and com-
munication technology (ICT)-
led programs.
We are very
pleased to be en-
gaged with a range
of partners, and ex-
cited to be engaged
with this country,
as it emerges and
becomes further
integrated into the
rest of the global
community, said
Indiana University
President Michael
A McRobbie.
Hewlett-Packard
will establish up
to twelve centres
in four regions.
The centres, which
will be established
through local part-
ners such as the
Myanmar Business Executives
Association, will be equipped
with computers and internet
connections and will provide
business training and other re-
sources to boost entrepreneur-
ship in rural and less-served
populations.
Entrepreneurs need a strong
foundation and a team behind
them to turn their inspiration
into reality. This is what ADEPT
is designed to do. ADEPT (in
English) means skilled-beyond
skilled, a master, said US
Deputy Chief of Mission Vir-
ginia Murray.
VinaCapital Foundations
Lotus Impact fund will enable
small and medium enterprise
(SME) to access credit and
prepare to engage with larger
buyers and investors. BSR
will similarly support SMEs
by launching an educational
working group series to bring
businesses up to international
standards.
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HP Learning Initiative for
Entrepreneurship Centre(HP LIFE)
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~~_e.._ Michael A McRobbie
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The Iaunch of ABEPT program in Yangon.
U
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
22
From page ... (Singapore)
From page ... (Singapore)
Contd. P 23...(Paying)
banks approach of sup-
porting the businesses
building the infrastruc-
ture that is necessary to
drive the regions eco-
nomic growth.
As power is essential in
the creation of new indus-
tries and jobs for Myan-
mar, the company is glad
to partner with AsiaTech
Energy to help deliver on
the countrys increasing
demand for electricity,
Chin said.
The Mawlamyaing plant
will be built over two
phases and is expected
to start producing an ini-
LIuI qMW oI eIecLrIcILy
by the second quarter of
zo1q. TIe projecL Is ex-
pected to be completed at
the end of 2015.
Pour i ng i nvestments
i n power sector
As Myanmar under-
goes rapid development,
the government has pri-
oritised investment in the
power sector to cope with
the rising demand for re-
liable energy for house-
holds and businesses, and
overhaul the countrys
woeful power infrastruc-
ture.
Last month saw two
major investments in
Myanmars power sector
with US-based APR En-
ergy snapping a bid to de-
veIop u 1ooMW gus-hred
plant in Mandalay, and
Singapore-based Navigat
Groups subsidiary MAX-
power (Thaketa) Co Ltd
starting to supply power
through a 50-megawatt
(MW) gus-hred power
plant.
TIe sIgnIng oI LIe h-
nancing agreement with
Asiatech Energy came
only a week after UOB an-
nounced that it had part-
nered with APR Energy
in their Myanmar power
plant.
n Junuury, LIe WorId
Bank (WB) pledged
$1-bIIIIon hnuncIuI sup-
port to Myanmar to ex-
pand electricity genera-
tion, transmission and
distribution, and the ADB
agreed to provide $60
million to overhaul coun-
trywide power infrastruc-
ture. The WB in Septem-
ber said it will provide a
$1qo mIIIIon InLeresL-Iree
credit to install a 106MW
power plant in Mon state
by replacing existing gas
turbines with advanced
technology and provide
250 percent more elec-
tricity with the same
amount of gas.
TIe Jupun nLernuLIon-
al Cooperation Agency
(JCA) In June IusL yeur
granted Myanmar an Of-
hcIuI DeveIopmenL As-
sistance (ODA) loan of
51.052 billion ($500
million), part of which
will go to rehabilitating
and upgrading main pow-
er plant and substations
in greater Yangon area
to promote stable power
supply.
Jupunese LrudIng Iouse
Mitsubishi Corp in No-
vember last year said
it will build a massive
1 trillion ($9.7 billion)
IossII-IueI-hred power
station in Dawei special
economic zone via a joint
venture with Electricity
Generating Authority of
Thailand and Italian-Thai
Development. The facil-
ity, which is slated to go
into operation in 2015,
will have a total output
capacity of 7 million kilo-
watts.
Thailand-based Gunkul
EngIneerIng suId In Junu-
ary that it plans to invest
more than $100 million
Lo deveIop gus-hred und
wind power plants in
Myanmar, while a multi-
national joint venture in-
volving those from Myan-
mar, India and Singapore
in October last year said
they will build a 500MW
couI-hred power pIunL In
Kyauktan, Yangon region.
In September last year,
Myanmar signed a mem-
orandum of understand-
ing with South Korea to
build a 500MW plant
which will use natural
gas and waste to generate
power, in a joint venture
between Myanmars Hexa
International Co and Ko-
rea Western Powerwill in
Thaketa, Yangon region.
TIe hrsL pIuse oI LIe pro-
ject is expected to be com-
pIeLed In zo1q.
The Ministry of Elec-
tric Power last year said
it plans to carry out 17
power plant projects by
2016 where 10 will be
gus-hred und seven wIII
be hydropower plants.
In 2012, the ministry
IuuncIed Lwo gus-hred
power projects of 500MW
and 120MW in Yangons
Ahlone and Thaketa
townships under respec-
tive MoUs with multi-
national companies in-
volving those from South
Korea, Thailand and Sin-
gapore.
Foreign direct invest-
ment (FDI) in Myanmars
power sector had reached
$1q.z8 bIIIIon, q.6 per-
cent of the total FDI, in
seven projects as of the
end of December 2013,
making it the top foreign
investment receiving sec-
tor in the coutnry.
. ..q. .. ~. . ., .: .. ..
.:~~:. ~.._......_.
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._ ~~ ~ ~. .._.:~ . ._~: .
Asiatech ...~~.~~_
Tang Weng Fei ~ ._.:.
._.
~. .|.:~ ~:.....~ , ~:.
~......._ ~_..:~
.:..__e._.. ~~, ... ..
.e..~ .....:~~:.
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APR . . .~ ~ . ~ ~ q .. .
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q..._....._.
Paying The Price of Myanmars Investment Fever
Te new freedom of the Southeast Asian nation has drawn global investors in a race to proft from new development. But Myanmar workers and farmers sufer the
side-efects.
Ric Wasserman
B
o Bo Aung travelled to
Sweden Ior one reuson:
to warn about how huge
investments may soon change
the landscape, the environment
and the economy of Burma, the
Southeast Asian country also
known as Myanmar.
The main problem is that the
companies and the business-
men register a large piece of
land, and it can lead the local
farmers to lose their land for-
ever, says the former teacher
who became a land rights activ-
ist after he saw the way things
were heading.
In 2010, a special economic
project came to Dawei and I
thought, I need to do some-
thing because this is huge. Its
the biggest project in Southeast
Asia, an $86 billion project, so
we need to do something, which
Is wIy sLurLed Lo hnd u wuy Lo
protect the local people.
The Dawei project will be the
biggest industrial commercial
zone in Southeast Asia. When
built, villagers will lose their
homes and farms, and the pro-
posed q,ooo-meguwuLL couI-
hred pIunL wIII uIso be u bIg
polluter. The farmers, despite
A farmer hoIds what he says is Iead dust he puIIed straight from a creek in the countryside near the town of Bawei in southern
Myanmar. Activists and many IocaIs are concerned that the deveIopment of a huge speciaI economic zone and deep sea port in
the area wiII damage a pristine environment abundant in naturaI resources.
R
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Myanmar government ofciaIs, representatives from Myanmar Iighting (IPP) Co Itd and UUB Bank pose
for a photo at the power pIant nancing signing ceremony.
U
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
PROPERTY & REAL ESTATE
23
Myanmar Summary
Myanmar Summary
THMA to Hold Bosiness Mutching Ior Thui Hotel Intrepreneors
T
he Thai Hotel and Hospi-
tality Management Asso-
ciation (THMA) is going
to organise a business matching
event for Thai hotel industry
entrepreneurs in a bid to tap
Myanmars booming hotel in-
dustry, the association said in a
statement.
The business matching event,
Yangon HORECA (Hotel, Res-
taurant, Catering) Bizmatch,
will be held on March 22 at Park
Royal Hotel, Yangon.
The event, which falls on
THMAs 10
th
anniversary, will
bring together Thai manufac-
tures and suppliers of hotel
equipment, electrical appli-
ances, IT, software for hotel
and restaurant management,
and all hotel related products
to meet with existing and new
hotel entrepreneurs and hotel
related business partners in
Myanmar, THMA said.
Since the Myanmar govern-
ment had adopted a new policy
to welcome foreign investors
and tourists in 2012, the num-
Zayar Phyo ber of foreign visitors had been
increasing tremendously, re-
sulting in massive investments
in new hotel and serviced apart-
ments in the country.
It has been estimated that a
mInImum oI q,ooo-,ooo new
hotel rooms will be opened by
2015.
We see a great opportunity
for hotel suppliers to promote
business with the new hotel
entrepreneurs in Myanmar,
THMA said.
The event is supported by
Thailands Department of In-
ternational Trade Promotion
and the Ministry of Commerce,
Thailand, and managed by TTF
Yangon Co Ltd.
The event will consist of a half
day investment seminar for po-
tential Thai hotel investors and
a full day business matching be-
tween Thai hotel products and
equipment suppliers and My-
anmar hotel, restaurant owners
and same business dealers.
THMA said it only limit the
number of suppliers from Thai-
land to 25 companies to meet
with Myanmar entrepreneurs
and business partners, while
30 minutes will be allotted per
discussion for 11 sessions from
9am-5pm.
Hoosing ept Seeks
Privute evelopers
T
he Department of Human
Settlement and Housing
Development (DHSHD)
under Yangon City Develop-
ment Committee (YCDC) will
lease government lands to pri-
vate entrepreneurs to develop
reuI esLuLe projecLs, un omcIuI
said.
We will rent the lands for
projects on a build-operate-
transfer (BOT) basis, U Than
Myint, Planning and Commerce
minister for Yangon Region
government, said.
The leasing project will be
managed by the YCDC, he add-
ed.
The move is a sign that the
government is softening its
stance on state-owned lands
and is willing to carry out trans-
parent use of government lands,
real estate industry insiders say.
This public private coopera-
tion will boost the industry in
the long term, U Thein Hla
Kyaw Min Nyo, a real estate agent, said.
The government last year put
a cap on land prices and intro-
duced tax on land transactions
in a bid to curb the ballooning
property market in Yangon.
Thai Hotel and Hospitality
Management Association (THMA)
._ _.,.:.- e_e.~.~~.:
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.:. q:.e.~q.q,~~~ .~.
.. ... .. ~. . ~ . . _.. . . :.._ _e.
._~:. .q._.
~. .|~. ~. ~ Yangon HORECA
(Hotel, Restaurant, Catering)
Bizmatch q,~,_. Park Royal
e ~e ~ .~ . q~ ., _ _.. .
~...:..__e.._.
~. .|.~ . .. ... .. ._ THMA
- ~~ ..._.:~~.~.~..~_e.
.. . e ~e ~. .~..: .. _ .
~ . . . . :.. .:~ . . .:.
.. .. . .. q: .~ .~.~ ~.~
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e~e..,....,.~..,.
q .:. .|~ . . ._ _e. ._.
~.~..._..:.~ q,~,_..~:
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BOT .,._e ..,.q.:.. :.q..
.:..__e.._~:. q,~,~....
_~ .~. .q~e ~. ..:.. . ~ , .. . .. :.
.q.~,_~...,._.~ ._.:._.
e.~. BOT .,._e ..,.q
.:.. :.q..:.q:~ q,~,~.
..._~. -e~..q~e- ..._e
..: q ~ . :.._ _ e. ._ ~: .._ .
. q._ . .., ._. ~ ._~:. ~. ,
~~..: q,~,~...._~.~..q
~e q . . .. . , . , ~ .~ . . ._..~
~ ._.~._.. ..,.q.~~
BOT .,. , :.q. .. . ~ . :.e ~.
~..~..:q~eq.|~e''e ._.:
._.
A buiIding under construction in Yangon.
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An under-construction hoteI in MawIamyine, Mon state, Myanmar.
K
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
24
PROPERTY & REAL ESTATE
Myanmar Summary
Myanmar Summary
Myanmar Summary
From page zz...(Paying)
having land deeds, will be reset-
tled and will likely receive little
compensation.
Asked about compensation
for those who are being moved
o LIeIr Iund, LIe counLry`s
Deputy Minister for Resettle-
ment Phone Swe said, We still
have no idea.
But not all see investments as
so troublesome, says tour op-
erator Pju Wee Ta, who sounds
like an economic development
booster.
The government has opened
everything, so you should come
and invest in Myanmar. Every-
LIIng Is hne, everyLIIng Is open
and ready for all.
But its not the investments
LIemseIves LIuL ure under hre -
rather the conditions attached,
especially for the workers.
In 2012, it was made legal to
form a trade union, says Frida
Perjus, a trade union special-
ist at the Olof Palme Centre in
Stockholm.
Around 700 labour unions
have been formed since then,
but many of these so-called yel-
low unions are initiated and
owned by the employers.
The transition from military
to civil law in Myanmar is slow.
The rampant exploitation of la-
bour, minerals and forests has
also worsened the long-stand-
Ing eLInIc conIcLs, suys Bo Bo
Aung.
In Shan state, there is still
hgILIng. SomeLImes hgILIng
with the government and the
military, sometimes between
armed groups.
At a forum held recently, a
number of Myanmar organisa-
tions were critical of the foot-
print of the new large develop-
ment aid projects.
One thing is its not trans-
parent, second is the govern-
ment doesnt have a clear policy
to help the ethnic minority of
Burma, says Sai Khoong Pong,
who works as a human rights
adviser with the local Burmese
group Kawdai.
So it will still ignore the mi-
nority of Burma and create
more conIcL, ruLIer LIun IeIp.
Others argue that the country
is being divided up, with the
spoils going to the highest bid-
der.
And where is opposition lead-
er Aung San Suu Kyi in all of
this? It appears shes being cau-
tious but one shouldnt put
all of Myanmars hopes in her
alone, says Bo Bo Aung.
Her priority is to become
president, and after that she can
sLurL doIng LIIngs. BuL hnd IL
Iurd Lo beIIeve. JusL one person
cannot change everything.
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Singaporean Real Estate Firm Eyes Yangon Project
S
ingapore-based real es-
LuLe hrm GoIden und
Real Estate Development
Co plans to build an advanced
housing project in Yangon, the
company said.
The Golden City advanced
housing project, which includes
nine buildings of 33-storey
apartment blocks, will be con-
structed over the next four years
at the site of the old Central
Military Account building in
Yankin township, Yangon, ac-
cording to local media reports.
We invested $85 million in
the advanced housing project,
said Alex Zhu, chairperson of
Golden Land.
Five hundred of the 1,200
Htet Aung apartments are now being sold
to the public at a price of $250-
300 per square foot.
The project includes a tower
Lo open busIness omces und u
servIce cenLre, u hve sLur IoLeI
and a shopping mall where cus-
tomers can buy international
brands. The business centre will
be separated from the housing
apartments, added Zhu.
The area of the Golden City
advanced housing project is
33,977 square metres. A car
park, which is expected to ac-
commodate nearly 2,000 vehi-
cles, will be part of the project.
The Golden City advanced
housing project is being run as
a joint venture between UGP
Company from Singapore and
IocuI JeweIIery uck Group.
Hotel Indostry Bugs $b in Ioreign Investment
T
he Myanmar Investment
Commission (MIC) has
so far granted permission
to foreign-invested hotel and
tourism projects worth $2 bil-
lion, according to the Ministry
of Hotels and Tourism.
Myanmars hotel and tourism
industry has seen phenomenal
growth as the formerly-isolated
nation eyes 3 million tourist ar-
rivals this year.
A total of 39 hotels and related
businesses have been allowed
by LIe MC, un omcIuI suId.
The number of licensed rooms
rose 22 percent since 2012 with
another 10,000 expected to
open this year.
Singapore is leading the for-
Aye Myat eign investment in the hotels
and tourism industry with
about $700 million going to-
wards new projects.
.~:.~._..~ ~._.._...,.
_e.._ Golden Land Real Estate
Development Co ._ q,~,~
~._.~.q:..~,.~..~ .e:
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._.
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.~:~~. q,~,_. q,~._.,e
~ .e:..:.:.._e _._~.
.~...e:.:.- .e:_..~.:.~q
.q._.
Tourists at a hoteI in NgapIai, Rakhine state. Investments in the hoteI and tourism sector has surged since economic reforms
in Myanmar.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
AUTOMOBILE
25
Tuongoo Motorbike Murket Sorges us Gov't OHers Licences
Phyu Thit Lwin
M
otorbike market in
Taungoo in Bago re-
gion has seen a surge
in sales amid the authorities
announcement that unlicensed
motorbikes will be granted li-
cence within 90 days, local mar-
ket sources say.
The Department of Road
Transport Authorities (RTA)
under the Ministry of Trans-
porL In LIe IusL week oI Junu-
ary announced that it will par-
don unlicensed motorbikes by
granting them licences to run
legally across the country. In
June zo1z, RTA oered u sImI-
lar deal to unlicensed motor-
bike owners.
The authorities started issuing
motorbike licences on February
17 in Htantapin, Phyu, Kyauk
Gyi, Yaytharshay and Oaktwin
cities of Bago region.
People are rushing to get a
new motorbike as they know
they can get a licence easily.
About 50 to 100 bikes are get-
ting sold every day, a motor-
bike dealer in Taungoo city,
said.
There are four big motorbike
showrooms in Taungoo city
while another 10 small shops
deal with mostly Chinese- and
Thai-made motorbikes. The
sales of motorbikes are usually
better during the rice and bean
harvest season as the produce
get transported via bikes to dif-
ferent parts of the region, deal-
ers say.
Chinese motorbikes with
110cc capacity usually get
sold for between K350,000
and K550,000 ($350-550)
while those with 125cc capac-
ILy geL beLween Kqo,ooo und
K6oo,ooo ($qo-6oo). MoLor-
bikes imported from Thailand
fetch between K800,000 and
K1.q mIIIIon ($8oo-1,qoo),
dealers say.
Prices of motorbikes vary de-
pending on the quality and for-
eign currency exchange rates,
motorbike dealer U Ohn Myint
said.
Myanmar Summary
Myanmar Summary
_.,.:.~.~,...q.....:
According to RTA, the num-
ber of motor vehicles operating
in Myanmar stood at 3.9 million
as of September 2013, includ-
Ing .q; mIIIIon moLorcycIes,
382,816 passenger cars, 102,537
Lrucks und zo,oq buses.
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Hondu Numes Iirst Ioreigner, Iemule to
Top Management
H
onda Motor Co named
LIe hrsL IoreIgner und
hrsL IemuIe Lo ILs uII-
Jupunese, uII-muIe rosLer oI
board members and operat-
Ing omcers IusL week, IeIpIng
IL cuLcI up wILI rIvuI Jupunese
carmakers in diversifying its ex-
ecutive ranks.
Jupun`s LIIrd-bIggesL cur
maker named Issao Mizoguchi,
u BruzIIIun oI Jupunese descenL
and senior vice president at
Honda South America, as one
oI ILs z operuLIng omcers.
Honda also appointed Hideko
Kunii, a professor at Shibaura
Institute of Technology, to its
13-member board of directors.
She will be one of two directors
on the board who do not hold an
executive post in the company.
BIg Jupunese compunIes ure
under pressure to diversify their
top management to bolster gov-
ernance, risk management and
Maki Shiraki and
Yoko Kubota
global perspective, having tra-
ditionally chosen board mem-
bers und senIor omcers Irom
male managers who spent their
careers at the company.
Hondu, LIe hrsL Jupunese cur
maker to start assembling cars
in the United States in 1982,
sells about 80 percent of its ve-
hicles overseas.
But it has trailed rivals Toyota
Motor Corp and Nissan Motor
Co in bringing both foreigners
and women into the upper ech-
eIons oI ILs Jupun IeudquurLers.
n Jupun, ubouL ; percenL oI
Hondas employees and 0.7
percent of its managers are
female, according to the gen-
der equuIILy bureuu oI Jupun`s
CubIneL Omce. Jupunese PrIme
Minister Shinzo Abe last year
called on all listed companies to
have at least one woman among
their senior executives.
The appointments of oper-
uLIng omcers wIII be eecLIve
April 1, while new board mem-
bers will take their posts follow-
ing shareholder approval at an
unnuuI meeLIng In June.
Reuters
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Motorbikes for saIe in Taungoo, Bago region.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
26
INTIRNATIONAL AN OMISTIC ILIGHT SCHILLI
Fliggh htss ffroom Yanggon (RGNN) to Bangkok ((BKK) Fliggh htss ffroom Banggkok (BKKK) to Yaangon (RGN)
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
PG 706 1 2 3 4 5 6 7 RGN BKK 7:15 9:30 Bangkok Airways DD4230 1 2 3 4 5 6 7 DMK RGN 06:30 07:55 NOK Airlines
DD4231 1 2 3 4 5 6 7 RGN DMK 8:00 9:45 NOK Airlines 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 10:15 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 8:50 9:40 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
Y5-237 1 2 3 4 5 6 7 RGN BKK 18:05 19:50 Golden Myanmar Airlines PG707 1 2 3 4 5 6 7 BKK RGN 13:40 14:30 Bangkok Airways
TG302 1 2 3 4 5 6 7 RGN BKK 14:45 16:40 Thai Airways Y5-238 1 2 3 4 5 6 7 BKK RGN 21:10 21:55 Golden Myanmar Airlines
PG703 1 2 3 4 5 6 7 RGN BKK 15:20 17:15 Bangkok Airways FD2753 1 2 3 4 5 6 7 DMK RGN 16:35 17:20 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 16:45 17:35 Bangkok Airways
FD2754 1 2 3 4 5 6 7 RGN DMK 17:50 19:35 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 18:25 20:20 Bangkok Airways DD4238 1 2 3 4 5 6 7 BKK RGN 19:30 20:15 NOK Airlines
TG306 1 2 3 4 5 6 7 RGN BKK 19:40 21:35 Thai Airways 8M332 1 2 3 4 5 6 7 BKK RGN 19:20 20:05 MAI
DD4239 1 2 3 4 5 6 7 RGN DMK 21:00 22:45 NOK Airlines PG705 1 2 3 4 5 6 7 BKK RGN 20:00 21:15 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)
Y5-233 1 2 3 4 5 6 7 RGN SIN 10:10 14:40 Golden Myanmar Airlines Y5-234 1 2 3 4 5 6 7 SIN RGN 15:35 17:05 Golden Myanmar Airlines
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 8M235 5 6 7 SIN RGN 19:15 20:45 MAI
TR2827 1 6 7 RGN SIN 15:10 19:35 TigerAir TR2826 1 6 7 SIN RGN 13:00 14:30 TigerAir
TR2827 2 3 4 5 RGN SIN 17:10 21:35 TigerAir TR2826 2 3 4 5 SIN RGN 15:00 16:30 TigerAir
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 Lumpuur (KUL) Fligghtts frro om m Kuala LLumpur (KUL)too Yangonn (RGN)
AK1427 1 2 3 4 5 6 7 RGN KUL 8:30 12:50 AirAsia AK1426 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
Fligghtts frrom Yanngon (RGGN) to HHanoi (HHAN) Fligghtts frrom Hannoi (HANN) to Yanngon (RRGN)
VN956 1 3 5 6 7 RGN HAN 19:10 21:30 Vietnam Airlines VN957 1 3 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 7 RGN SGN 14:25 17:10 Vietnam Airlines VN943 2 4 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. DDayss From To ETD ETA Operated by: Flight No. DDayss 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 1:10 5:35 Dragon Air KA250 1 3 5 7 HKG RGN 21:50 23:45 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. DDayss From To ETD ETA Operated by: Flight No. DDayss 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
Flliggh htss ffroom m Yangon (RGN) to Nay Pyi Taww (NYT) Flliggh htss ffroom m Nay Pyyi Taw (NNYT) to Yangonn (RGN)
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
FMI-A1 1 2 3 4 5 RGN NYT 7:30 8:30 FMI Air Charter FMI-A2 1 2 3 4 5 NYT RGN 8:50 9:50 FMI Air Charter
FMI-B1 1 2 3 4 5 RGN NYT 11:30 12:30 FMI Air Charter FMI-B2 1 2 3 4 5 NYT RGN 13:00 14:00 FMI Air Charter
FMI-C1 1 2 3 4 5 RGN NYT 16:30 17:30 FMI Air Charter FMI-C2 1 2 3 4 5 NYT RGN 18:00 19:00 FMI Air Charter
FMI-A1 6 RGN NYT 8:00 9:00 FMI Air Charter FMI-A2 6 NYT RGN 10:00 11:00 FMI Air Charter
FMI-A1 7 RGN NYT 15:30 16:30 FMI Air Charter FMI-A2 7 NYT RGN 17:00 18:00 FMI Air Charter
FFliightts frrom Yangoon (RGN) to Manndalay ((MDY) FFliightts frrom Manddalay (MDDY) to YYangon (RGN)
Y5-234 1 2 3 4 5 6 7 RGN MDY 6:15 7:30 Golden Myanmar Airlines Y5-233 1 2 3 4 5 6 7 MDY RGN 8:10 9:25 Golden Myanmar Airlines
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
Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
AUTOMOBILE
27
Toyotu to Open Myunmur eulership
Tony Pugliese
T
oyota Motor is expected
Lo open ILs hrsL sIow-
room in Myanmar, in the
capital city Yangon, in March,
according to local sources.
So far, the company has only
established service facilities in
the country to support the rap-
idly growing population of Toy-
ota-branded used cars import-
ed InLo LIe counLry Irom Jupun.
Last year, around 90 percent
oI LIe 1oo,ooo-pIus hrsL-LIme
registrations were used vehicles
ImporLed Irom Jupun und mosL
of these were Toyotas.
The countrys new vehicle
market is expected to grow rap-
idly from here, as incomes rise
und us veIIcIe hnunce becomes
more widely available. Almost
all global automotive brands
now have sales outlets in the
country and local assembly is
set to increase sharply.
Toyota will sell a broad range
of models in the country, includ-
ing small and mid-sized passen-
ger cars, the Hilux pickup truck
and sport utility vehicles.
Myanmar Summary
Myanmar Summary
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Govt Gets K738 Billion from
Imported Aotomobile TuriHs
Kyaw Min
M
yanmar government
has scooped up over
K738 billion ($750
million) in import tax since it
relaxed car import regulations
in 2011, recent data from the
Ministry of Finance shows.
The vehicle import regula-
tion was relaxed after the elec-
tion during 2010-11 by making
easier the import of commer-
cial vehicles; trucks over three
tonnes and buses over 15 seats.
However, major lifts started
from September 2011 when the
breakthrough rule implement-
ed the Old car substitution
program allowing the appli-
cation for car import permits to
substitute older cars (initially
LIose zo-qo yeurs oId) Ior new-
er models (those manufactured
after 1995).
SInce OcLober zo11 unLII Jun-
uury zo1q, LIe sLuLe receIved
K738.12 billion as automobile
import tax, the ministry said.
A total of 82,625 cars were
imported under the old car
substitution program, 58,532
for auto showrooms, 2,818
through sailor permits, 286 for
LIe MInIsLry oI oreIgn AuIrs,
728 through company permits,
q LIrougI overseus worker
permit, 1,997 for the Minsitry of
Hotels and Tourism, 108 under
military attach permits, mak-
Ing LIe LoLuI hgure oI curs Im-
ported under various purchase
permits to 111,311, according to
the ministry announcement.
From May 2011, any Myan-
mar citizen aged 18 years and
up could import one unit of pas-
senger cur under IIsJIer own
name, only for personal usage.
The imports of passenger car
for commercial purpose were
still limited. Currently, in My-
anmar there is no more import
limits on any kind of vehicle for
commercial purpose.
The changes in import regula-
tion resulted in the number of
total vehicle registration from
around 2 million units (before
2010) to 3.8 million units up
Lo JuIy zo1, uccordIng Lo LIe
Road Transportation Adminis-
tration Department (RTAD).
Myanmar has imported a to-
LuI oI 1;1,q1 veIIcIes IncIud-
ing those under overage vehicle
substitution scheme over 19
months from October 2011 to
May 2013.
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..:.~~~ ~ .. ._.:..q.
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A seIIer waits for customers at a saIoon for newIy imported cars in centraI Yangon. SaIoons with newIy imported vehicIes
recentIy mushroomed across the country offering everything from Indian micro cars to super expensive RoIIs Royce modeIs. It
is much easier and cheaper to import cars nowadays. The incredibIy compIicated and expensive procedure has been repIaced
with something more affordabIe.
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Myanmar Business Today
mmbiztoday.com
28
IT & TELECOM
Myanmar Summary
Myanmar Summary
Ooredoo Extends Incubation Programme to Myanmar
Phyu Thit Lwin
Q
atars Ooredoo last week
extended its incubation
programme to Myanmar
with the launch of a new ICT in-
novation programme in a bid to
foster grassroots innovation
through local entrepreneur-
ship, the telecom company
said.
Ooredoo has already devel-
oped business incubation initi-
atives across its other markets,
including Ooredoo Algerias
tStart and iStart; Indosats Ide-
abox in Indonesia; and Ooredoo
Tunisianas Start-up Factory in
Tunisia.
TIe hrm suId ILs IncubuLIon
programmes were launched to
enable skills development and
enhance youth employability,
and to stimulate local mobile
innovation, by supporting apps
and new business ideas in the
national languages of those
countries.
Ooredoo joined hands with
Singapore-based online start-
up platform Silicon Straits, and
The Uoredoo PaviIion at MobiIe WorId Congress 2U14 in BarceIona.
O
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Australian-based accelerator
Pollenizer to launch the ICT
innovation programme, Ide-
aBox, in Myanmar.
IdeaBox program includes
four-to-six-month incubation
and acceleration initiative, which
provIdes seed IundIng, omce
space, resources and mentoring
up to the value up of $100,000
for start-up companies to invest
In connecLed omces, dIgILuI spe-
cialists, and mobile advertising,
Ooredoo said.
IdeaBox also aims to sup-
port developer and design skill
courses, entrepreneur training,
hackathons, developer boot-
camps and mentorship net-
working.
Dr Nusser MuruhI, group
CEO, Ooredoo, suId: Across
our markets, local entrepre-
neurs are developing innovative
ICT programmes and mobile
apps, but often do not have the
resources to bring these to mar-
ket or scale their solutions.
He said Ooredoos pro-
grammes provide expertise,
funding, and exposure to de-
velop entrepreneurialism at the
grassroots level.
We aim to support local busi-
nesses vIu LIese ugsIIp deveI-
opments ... to encourage human
growth through innovation.
In Myanmar, fewer than 10
percent of the population has a
mobile phone. Ooredoo said it
will roll out a world-class 3G
mobIIe neLwork wILI uordubIe
and life-enhancing value-added
services, within six months.
Ooredoo said by adding a
start-up support programme to
its existing network investment,
it can tap into a wealth of young
talent that is eager to deploy
mobile technology to develop
new businesses and kick-start
social development.
Ross Cormack, CEO, Ooredoo
Myunmur, suId: We Iuve u IuI-
ly-integrated strategy for sup-
porting innovation, develop-
ment and sustainable economic
growth across our operations
in Myanmar, with a particular
focus on young people, women
and rural communities.
Myanmar Summary
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Thui JV Iyes Myunmur, CLMV
Htet Aung
T
hree Thailand-based in-
formation and communi-
cations technology (ICT)
companies have tied up to es-
tablish almost a million dollar
joInL venLure (JV) Lo provIde
ICT solutions in the growing
market of Cambodia, Laos, My-
anmar and Vietnam (CLMV).
Samart Communication Ser-
vices, Loxley Wireless and Ad-
vanced Information Technol-
ogy (AIT) recently partnered to
seL up u $qzo,ooo JV, SA AsIu
Co, according to Thai media re-
ports.
The joint entity aims to build
basic ICT infrastructure in
Myanmar as demand for ICT
equipment installation and
maintenance grows in the most
potential market in Southeast
Asia.
Executives of the companies
said the partnership would en-
able them to compete against
foreign rivals as the ASEAN
Economic Community (AEC)
Lukes eecL nexL yeur, wIIcI
uIms uL Iree ow oI goods und
labour within the region. How-
ever, LIe hrms wIII remuIn com-
petitors in the Thai market,
they said.
TIe JV uIms Lo gurner reve-
nues of over $30 million within
three years, according to Loxley
executive Surakij Kiatthana-
korn, who was appointed as
SA`s cIIeI execuLIve omcer.
Each of the three partners
holds equal shares in SLA.
LG Launches InnoFest 2014
Regional roadshows to showcase range of solutions for consumers
Shein Thu Aung
L
G Electronics (LG) kicked
o ILs unnuuI nnovu-
tion Festival (InnoFest)
Roadshow, a showcase aimed
at bringing LGs consumer elec-
tronics and home appliance
products to LGs business part-
ners, distributors and retailers
in regions around the world.
The roadshow, which kicked
o In LIe MIddIe EusL und AI-
rica (MEA) in February, will
travel to Europe in March and
Asia in April, the South Korean
electronics giant said.
LG InnoFest is an opportu-
nity for us to focus on the many
relationships ... around the
world with the retailers and dis-
tributors, said Kevin Cha, Re-
gional Head of Middle East and
Africa for LG Electronics.
LGs success was built on the
companys ability to deliver lo-
calised solutions to a diverse
global audience and events such
as InnoFest are critical to our
success.
LG InnoFest, an annual event
now in its second year, was
launched in Istanbul, Turkey
this year, where the company
showcased a lineup of TVs, re-
frigerators, washing machines,
air conditioners and smart-
phones. Flagship products
which took the spotlight at In-
noFest were LGs 77-inch Ultra
HD Curved OLED TV, 105-inch
Curved Ultra HD TV and G Flex
curved smartphone.
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A modeI hoIds a curved IC C FIex smartphone during the MobiIe WorId Congress in BarceIona February 24, 2U14. IC EIectron-
ics Inc aims to broaden its range of smartphones so saIes this year grow at doubIe the rate of the market, as the South Korean
company seeks to retake the position of worId's third-biggest maker.
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March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
IT & TELECOM
29
Thailands True in Talks to Operate Mobile
Service in Myanmar
Manuphattr Dhananan-
phorn and Aung Hla Tun
T
hailands True Corp Pcl is
in talks with Myanmars
Yatanarpon Teleport
(YTP) on jointly starting mobile
phone operations in Myanmar,
a senior True executive said.
We are in the process of ne-
gotiating with YTP. If success-
ful, we need to seek approval
from True Corps board and
then we will inform the Stock
Exchange of Thailand, Chief
InuncIuI Omcer NoppudoI Dej-
Udom told Reuters.
Myanmar has one of the low-
est mobile penetration rates
in the world but the country is
developing fast under a quasi-
civilian government that took
omce In zo11 uILer decudes oI
military rule.
Norways Telenor and Qatars
Ooredoo were selected in the
middle of last year to build new
mobile networks, bringing for-
eign companies into a country
where less than a tenth of the
60 million population has a mo-
bile phone. The licences were
IormuIIy uwurded In Junuury.
True Corp, controlled by the
Charoen Pokphand Group and
owned by Thailands richest
man, Dhanin Chearavanont,
operates a wide range of tele-
coms services in Thailand from
hxed-IIne Lo mobIIe und broud-
band Internet to cable televi-
sion.
YTP, a joint venture between
local private companies and
state-owned Myanmar Post and
Telecommunications (MPT), is
an internet service provider at
present.
We are talking about the de-
tails for a 15-year project and we
expect to sign the agreement to
apply for an operators licence
by early March, Yan Win, vice-
chairman of YTP, told Reuters.
L wIII be u 1-qq joInL ven-
ture between YTP and True and
total investment for the whole
project is estimated at $1.6 bil-
lion, he added.
MPT long operated the only
existing telecoms network in
Myanmar and it remains the
sector regulator, although that
ucLIvILy Is Lo be spIIL o.
At present MPT owns 51 per-
cent of Yatanarpon Teleports
shares but MPT is also talking
with some foreign partners to
work as an operator, Yan Win
said.
The Telecommunication Law
does not allow an operator to
own more than 10 percent of
shares in another company
working as an operator. So the
MPT will have to plan to cut
down its shares.
Jupun`s KDD Corp und Su-
mitomo Corp have been in talks
with MPT about helping it ex-
pand its services, a Sumitomo
omcIuI LoId ReuLers In Junuury.
Reuters
Myanmar Summary
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qq.__e.._.
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Pacnet Expands IP VPN Services into Myanmar
Aye Myat
H
ong Kong-based tech-
nology solutions pro-
vider Pacnet said it has
expanded its MPLS-based IP
VPN services into Myanmar.
TIe hrm Ius uIso expunded
similar services in the Greater
Mekong Subregion, including
Cambodia and Laos, it said.
MPLS VPN is a family of meth-
ods to create virtual private net-
works (VPNs). Multiprotocol
Label Switching (MPLS) is a
standards-approved technology
for speeding up network traf-
hc ow und mukIng IL eusIer Lo
manage.
The company said the move
comes as active government
promotion encouraging for-
eign investment have resulted
in increasing demand for net-
working services in the region.
The region is expected to have
an average economic annual
growth of 7.9 percent through
to 2030, according to Asian De-
velopment Bank Institute.
Pacnet said its service expan-
sion will assure organisation of
a secure, extensive private net-
work that can reduce network
management complexity, while
enIuncIng operuLIonuI emcIen-
cy and performance.
One of the most critical ser-
vices for any business today is
a reliable and secure commu-
nications network, said Sanjay
Nayak, vice president, product
strategy, Pacnet.
The Greater Mekong Subre-
gion is an exciting area of eco-
nomIc growLI Ior AsIu-PucIhc.
A growing number of compa-
nies are seeking to establish
a footprint within this region.
But ... they need to know that
the appropriate infrastructure
and services are there to assist
them, he said.
Nayak said integrating these
additional locations with the
companys subsea cable infra-
structure, Pacnet can address
the growing network demand of
its customers.
Pacnets MPLS-based IP VPN
service is available in 55 cities
across Australia, China, France,
Hong Kong, India, Indonesia,
Jupun, Koreu, MuIuysIu, New
Zealand, Philippines, Singa-
pore, Taiwan, Thailand, Viet-
nam, the UK and the US.
Myanmar Summary
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(MPLS) ._ ~,q~......,.~
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._~:. Pacnet . ._.:_~:..._.
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
SOCIAL SCENES
30
Ma Khine Tit Lwin, executive director of TMW. Wai Linn
Dong Gun Lee, director of RAC Asia & China Team (RAC market, division, LG).
Wai Linn
Hsing Ho, Managing director of
Dupont group (ASEAN).
Zayar Phyo
U Tant Lwin Oo, director of
ministry of agreculture and ir-
rigation. Zayar Phyo
Sittideth Sriprateth, managing
director of Dupont Myanmar.
Zayar Phyo
Wut Hmone Shwe Yi, Huawei's brand ambassador,
pose for a photo. Htet Aung
DuPont Myanmar Opening Ceremony @ Chatrium Hotel, Yangon
Te MC announces the program.
Zayar Phyo
Delegates pose for a photo. Zayar Phyo
DuPont executives pose for a photo. Zayar Phyo
Ribbon cutting to launch DuPont Myan-
mar of ce. Zayar Phyo
Huawei New Year New Dream Grand Award Ceremony @ Traders Hotel
Models display Huawei products at the show. Htet Aung
Prize giving ceremony. Htet Aung A performance at the ceremony. Htet Aung
LG Auto Voltage Switcher
& Mosquito Away Air
Conditioner Launching
A representative explains a product to visitors. Wai Linn Delegates celebrate the products' launch. Wai Linn
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
CLASSIFIEDS
31
March 6-12, 2014
Myanmar Business Today
mmbiztoday.com
32
ENTERTAINMENT
Tachileik-Mae Sai Border to Stay
Open Late for
Thai-Myanmar Boxing Event
Daisuke Lon
T
he border checkpoint
at Chiang Rai's Mae Sai
district will be kept open
until after midnight on March
15 to accommodate people trav-
elling to watch the Thai-Myan-
mar boxing tournament on that
day.
The event, which will run from
3pm to midnight, will include
six matches featuring famous
Thai boxers, eight professional
muLcIes und hve LrudILIonuI
boxing matches between Thai
and Myanmar athletes, Mae Sai
district chief Somchai Rungsak-
hon told a press conference last
week.
The event will be held at the
Yuwan Training Facility in Mae
Sai Police Station.
Tickets are priced at THB500
($16) and some of the proceeds
will be used to fund related
agencies activities, said Pakai-
mas Vierra, president of the
Thai-Myanmar Cultural and
Economic Cooperation Asso-
ciation.
Myanmars First Walkathon in March
Shein Thu Aung
T
he Ministry of Sports and
India-based pharma-
ceuticals company Mega
Lifesciences Ltd are going to
joInLIy orgunIse Myumur`s hrsL
walkathon in a bid to spread
awareness on anemia and erad-
icate a nutritional problem that
is highly prevalent among My-
anmar women.
The 5-kilometre walkathon
will start at 6 am from Inya Kan-
baug, Pyay road, on March 16 to
the sounds of drums, cheerlead-
ers and the Bugle Corps. Partic-
IpunLs wIo cross LIe hnIsI IIne
at Peoples Park will enter into
the Anemia-free Zone where
theyll receive a medal, goodie
bags, free anemia testing and
breakfast accompanied by en-
tertainment and games, the or-
ganizers said.
Ferrovit, the largest iron sup-
plement brand in the country
from Mega Lifesciences Ltd,
wIII oer purLIcIpunLs Iree LesL-
Ing uL LIe hnIsI IIne Ior LIe
bIood dIsorder LIuL uecLs q
percent among non-pregnant
women, 71 percent among preg-
nant women and 75 percent
umong under-hve cIIIdren In
Myanmar.
The company called on wom-
en to unite at the event, for a
healthy cause and anemia-free
future.
Celebrity Dr Chit Thu Wai and
nutritionist Dr U Hla Kyi is ex-
pected to give health talks on
the common blood condition at
the end of the walkathon.
Myunmur`s Iron dehcIen-
cies lead to a remarkably high
prevalence rate of anemia. Its
a public health problem that
needs to be addressed and ad-
dressed urgently.
We see this walkathon as a
big step in educating people
and creating awareness on ane-
mia. We request all women to
participate in this walkathon
and show your support to make
the country free from anemia,
said Brajesh Hurkat, Megas
Myanmar Brands Director.
Interested participants can
register on Facebook, through
SMS or turn in registration
forms found in journals and
on yers Lo IocuI drug sLores.
To register, SMS can be sent to
18877 with name, NRC number,
age and email. More informa-
tion can be found on Ferrovit
Myanmars facebook page.
Myanmar Short Films to Feature at
Asian Womens Film Festival
Phyu Thit Lwin
T
wo Myunmur sIorL hIms
will be premiered in In-
dia at the Asian Wom-
ens Film Festival this year, the
events organiser said.
The International Associa-
tion of Women and Radio and
Television (IAWRT), a global
organisation formed by profes-
sional women working in elec-
tronic and allied media, said
this years edition of the festival
will feature Bamboo Grove
and My Grandfathers House
by two female directors from
Myanmar.
Bamboo Grove will be
screened at the Kamldadevi
Complex in IIC Auditorium
Theatre in New Delhi on March
6, while My Grandfathers
House will be premiered on
March 7 at the same venue.
Bamboo Grove, directed by
Khin Khin Hsu, follows a native
young cILy docLor`s hrsL job ouL
of medical school is a posting
to a rural Kayin community in
the Delta. Visiting his patients
by boat, the doctor comes into
LIe conIcL wILI LrudILIonuI
Kayin ideas about medicine in
the form of U Kee Yo, an old
man determined to remain in
his beloved bamboo grove. The
sLory Is InspIred by LIe hIm`s
screenwriter Aung Mins own
experience as a doctor amongst
the Kayin people in the Ayeyar-
waddy Delta.
TIe 1q-mInuLe sIorL hcLIon
was featured in the Lifescapes
Film Festival in Chang Mai,
Thailand, in 2012 and won the
hrsL prIze In LIe SIngupore-
Myanmar Film Festival in Sin-
gapore last year. Khin Khin Su
wus uIso IeuLured In nLerhIm:
International Short Film Festi-
val, Weitblick Sd Ostasien sec-
tion, Berlin, Germany in 2011.
Khin Khin Hsu trained as cin-
ematographer during the 2009
Yangon Film School (YFS) Be-
ginners Workshop and proved
herself to be a talented and
sensitive editor on various YFS
projects in 2010 including the
warmly observational Thurs-
days Child. Her father is the
well-known Burmese editor U
Ohn Maung. She was also the
cinematographer for 2010 My-
unmur sIorL hIm Hey, GIrI!
My Grandfathers House,
directed by Shunn Lei Swe
Yee, Is u 1q-mInuLe documen-
tary where Thakin Htein Wins
granddaughter reminisces
about the old wooden house
where she grew up a house
which was once a meeting place
for some of the architects of
Burmas independence move-
ment, in which her grandfather
played a pivotal role.
Last year, Shunn Lei Swe Yee
was featured in Singapore My-
anmar Film Festival in Seoul,
South Korea; Myanmar Film
Festival in Los Angeles, USA;
Singapore Indie DOC Festival
in Singapore; and Wathann
Film Fest#3 in Yangon.
Born of a Burmese publish-
er father and a Shan mother,
young English graduate Shunn
Lei Swe Yee has been active in
a number of youth and devel-
opment networks. A passion-
ate feminist and co-founder
of the Rainfall Gender Study
Group, she claims that one of
the reasons she joined Yangon
Film School was to learn how
Lo muke hIms LIuL wIII gIve u
stronger voice to women in My-
anmar.