vol 2, issue 11

March 13-19, 2014Myanmar Business Today

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mmbiztoday.com March 13-19, 2014 | Vol 2, Issue 11MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL

How to overcome emerging market volatility in Myanmar’s future

Dan Steinbock

After half a century of iso-lation, Myanmar’s im-mediate challenge is to

sustain reforms, boost foreign investment and diversify its industrial base. Unlike other Asian tigers, it must cope with a far more challenging interna-tional environment.

Recent headlines from My-anmar have caused unease in the United States, Europe and Japan. While the controversies are social by nature, they have indirect economic implications.

First, the aid agency Medecins Sans Frontiers (Doctors With-out Borders) was ordered to cease operations as the Presi-

MSF was biased in favour of Rakhine’s Muslim Rohingya minority. Then, President him-self asked parliament to consid-er an intermarriage law, which appears to call for the kind of restrictions that opposition leader Aung San Suu Kyi has condemned.

Meanwhile, the global agri-culture giant DuPont launched its business operations in the country. Indeed, as foreign companies have been rushing to Myanmar, the commercial capital Yangon is struggling with Southeast Asia’s highest

In 2012/13, Myanmar’s economy grew at 6.5 percent. Fuelled by increased gas production, services, construction, foreign investment and strong commodity exports, it is on track to grow 6.9 percent in the medium-term.

Soe Z

eya Tun/Reuters

But could the recent emerging market volatility sweep across the country?

Catch-up in the post-globalisation era

In the next 5-10 years, Myan-mar has potential to evolve into a “mini-BRIC”; that is, a rapidly growing large emerging econo-my – but only if it relies on the right growth conditions and can sustain the momentum.

Thein Sein has introduced a

ly improved Myanmar’s ties with Washington and European countries, which has unleashed

and investment. The advanced economies are fascinated with Myanmar, its population of 60 million people and the last re-maining emerging economy.

Economically, Myanmar lost half a century of progress, due to its geopolitical insulation. With underdeveloped institutional capabilities, poor revenue per-formance has led to persistent

aged 23 percent between 2001 and 2010, which hit the poor hard, undermining domestic

Myanmar is larger than France in size, but has a young labour force, abundant natural resources, including natural gas, copper, timber and gem-stones. In 2012/13, Myanmar’s economy grew at 6.5 percent. Fuelled by increased gas pro-duction, services, construction,

Contd. P 12... Contd. P 12...

Myanmar Summary

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Over 10,000 local companies yet to pay taxesA total of 10,670 local private companies have not

nouncement by the Internal Revenue Department said.

Myanmar has so far exported about 1 million tonnes

over 1.4 million tonnes in 2012-2013, local media quoted Commerce Minister Win Myint as saying. The unstable political situation in Thailand and the fall in demand from China had some impacts on Myanmar’s rice exports this year.

Authorities permit 166 hotel projects in 2 months

Myanmar authorities have permitted 166 new hotel projects with over 7,800 rooms at major tourist spots in the past two months to cater to growing tourist arrivals, local media reported quoting Aung Zaw Win, director general at the Hotels and Tourism Ministry.

US may grant GSP on 5,000 Myanmar prod-ucts soon

US may grant Generalised System of Preferences (GSP) trading privileges on about 5,000 Myanmar products in April or May, local media reported, citing Maung Maung Lay, Vice Chairman of the Federation of the Chambers of Commerce and Industry. Myanmar is entitled to GSP for 5,000 items of goods as it is one of the least developed countries, and marine products, pulses, beans, gems and handicrafts will be on the top of these items, Lay said.

Myanmar to allow import of alcoholic drinksLiquor, beer and wine will soon be allowed to be im-

ported into Myanmar after ongoing talks among respec-tive government departments and chambers of com-

citing Commerce Minister Win Myint. Overtaxing can lead to smuggling, while under-taxing can encourage

Myanmar banks to launch int’l co-branded cards

Myanmar Payment Union (MPU), an association of local banks, is planning to introduce international co-branded cards that can be used in over 100 countries in cooperation with JCB (Japan Credit Bureau) and CUP (China Union Pay), local media quoted Zaw Kin Htut, MPU CEO, as saying.

Myanmar earns over $1.1b from garment ex-port

Myanmar earned more than $1.1 billion in 2013 from garment exports due to EU’s restoration of GSP (Gen-

eralised System of Preferences) trading privileges, local media reported, quoting Myint Soe, chairman of My-anmar Garment Manufacturers Association. Garment exports in Myanmar are expected to reach $1.5 billion in 2014, the report said.

Myanmar ends cotton export banAt the request of dealers, the Ministry of Commerce

time in over 20 years, local media reported, citing in-dustry sources. The ban on the export of cotton has made cotton growers incur losses, the daily added.

Myanmar adds emergency medicalShwe Zanaka Company will provide emergency

healthcare services for tourists visiting Kyaiktyo, Mon

mately to other popular tourist sites in Myanmar. En-dorsed by the Ministry of Tourism, the company will cooperate with ambulance services, the Ministry of

foreign visitors.

DICA says no to full foreign investment in tour-ism

The government has no plans to permit full foreign investment in Myanmar’s tourism sector, according to the Directorate of Investment and Companies Adminis-tration (DICA). Joint ventures in tourism sector will be allowed only with Myanmar citizens and DICA is soon going to release an announcement stating which in-dustries will or will not be permitted for joint ventures, Aung Naing Oo, director general of DICA, said.

Myanmar Summary

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“Current planned and future hydropower projects across trans-boundary river systems also have the potential to spark diplomatic incidents with neigh-bouring countries, as the majority of the electric-ity generated from these projects is planned to

be exported outside of Myanmar’s borders.”

Elliot Brennan & Stefan Döring

Myanmar urgently needs to increase its electricity generat-

ing capacity to meet ambitious economic development targets and accommodate rising pow-er demands from new foreign and local investment projects. Yet harnessing Myanmar’s hy-dropower potential will be a perilous process, as seen in the controversies surrounding cur-rent planned dams along the Than lwin river (also known as Salween river) as well as the geopolitically fraught and sus-pended Myitsone dam.

Many of Myanmar’s rivers are suitable for hydroelectric dams, which currently contribute the base load to the country’s en-ergy supply. At the same time, dam construction alters the natural environment and usu-ally requires the controversial

Moreover, with the country in the midst of a tentative na-

sites have the potential to stir latent or resurrect suspended

Current planned and future hydropower projects across trans-boundary river systems also have the potential to spark diplomatic incidents with neighbouring countries, as the majority of the electricity gen-erated from these projects is planned to be exported outside of Myanmar’s borders. The Chi-na-led Myitsone dam project, for instance, was scheduled to export 90 percent of its gener-ated power for consumption in China. President U Thein Sein said at the time the suspension was in respect of the “people’s will”.

Access to water has long been

Multiple stakeholders, from farmers to factories, are often

stretched across national bor-ders, making equitable water management a nettlesome pro-cess. For Myanmar’s nascent le-gal environment, still governed largely by old structures of nepotism and patronage, regu-lating water-use is particularly

so as the economy adds new in-dustry on riparian lands.

According to local media re-ports, Myanmar is now plan-ning to build around 45 new hydropower dams. The need for infrastructure development in Myanmar’s energy sector is woefully apparent: the country has frequent power shortages; the commercial capital of Yan-gon is notorious for brownouts and blackouts. Remarkably, electricity output only reaches approximately a quarter of the country’s population, according to the World Bank.

As a result, power shortages

mar’s economic development as businesses necessitate consist-ent supply and a reliable power infrastructure. For the next 20 years, a business-as-usual es-timate made by the Asian De-velopment Bank forecasts a 3.1 percent annual growth of na-tional energy demand. Within the same timeframe, about 20 percent of the generated elec-tricity will come from hydro-power, which is anticipated to have the fastest annual growth rate of all energy sectors.

Much of the newly generated energy is nonetheless set for export to neighbouring China and Thailand. The regulations for planned dam projects on the Thanlwin river reserve only 25 percent of the produced energy to Myanmar, while the Kunlong hydropower project, also known as the Upper Salween dam, will reportedly only transmit 15 per-cent of its produced energy into the domestic grid system.

Many of these planned pro-jects, such as the Kunlong, have been tabled for the Salween river, a largely under-utilised, 2,800-kilometre waterway originating in the Tibetan Pla-teau that runs along Myanmar’s

eastern border and epitomises the country’s huge untapped hydropower potential. Depend-ing on the source, there are cur-rently between six and 12 dam projects planned for hydropow-er production on the Thanlwin.

In September last year, U Maw Tha Htwe, the director-general of the Hydropower Implemen-tation Department, disclosed that feasibility studies are ongo-ing for six hydropower projects

are targeted to generate 1,000 megawatts (MW) or more.

Feasibility studies have been concluded for the dams near Kunlong, NaungPha as well as a smaller project near Mann-taung, according to local media reports. The most ambitious project is the Tasang hydropow-er dam, which is projected to generate more than 7,000MW.

Standing 228 metres high, the Tasang will be South Asia’s highest dam, exceeding the size of the massive Three Gorges Dam in China.

As the Thanlwin runs through Shan, Kayah, Karen and Mon states, all planned dam sites are situated in ethnic minority ar-eas with resident armed groups

autonomy. As such, construc-tion sites are often within or

Some of the construction plans have been indirectly or directly

and peace agreement process.This applies especially to

those armed ethnic groups who demand economic concessions as part of anticipated upcoming peace agreements. This emerg-

Myanmar Summary

Contd. P 22... Contd. P 22...

Thanlwin (Salween) river and planned dams.

Stefan D

öring

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Malaysia-based UMW Oil & Gas Corp Bhd’s unit, UMW Petrodrill

(Malaysia) Sdn Bhd, has won a $10-million contract from PT-TEP International Ltd Yangon Branch to provide hydraulic workover unit and related ser-vices for its M9 drilling cam-paign in Myanmar.

wells with options for addition-al wells, and operations are ex-pected to start at Zawtika Field in Martaban Gulf by June.

“With this new market pen-etration, we hope for more op-portunities to secure contracts in Myanmar, not only for work-over services, but also for our

said president Rohaizad Darus.“Our company will aggres-

sively continue to pursue op-portunities to expand our geographical coverage in the

our growth plan and revenue di-

Pann nuPTTEP International is a sub-

sidiary of PTT Exploration and Production Public Company Ltd, a subsidiary of the national oil company of Thailand.

Myanmar Summary

Myanmar Summary

The pace of log export shipments has increased recently, not because of

improved demand but rather the urgency with which buyers want to ship the logs that they have in yards in Myanmar be-fore the log export ban comes

tional Tropical Timber Organi-zation (ITTO) said.

Despite the pick-up in ship-ments analysts still anticipate a substantial quantity of logs will remain at log yards in Myanmar when the log export ban comes

Export shipments from April to the end of January 2014 are estimated to have been over 398,000 cubic metre for teak logs and about 1.3 million cu.m for other hardwood logs.

While there is doubt in some quarters that the log ban will really be implemented, up to now the government seems de-

Kyaw Min termined to go through with its decision to ban log exports after April 1.

After the ban only processed wood will be allowed but what constitutes “processed” is now being discussed. Some observers say continued exports of baulk squares – roughly hewn logs but not further manufactured – would be an option to sustain the Indian market, the biggest im-porter of Myanmar teak logs.

Another debate is centred on whether domestic companies will be able to compete with mills set up by foreign investors

days for a certain period. This, say local millers, will

give foreign companies a huge advantage. Most analysts are of the view that it is unlikely that export of baulk squares will be allowed but an announcement from the Ministry of Environ-mental Conservation and For-estry (MOECAF) is expected to clarify this. rav;&Sm;EdkifiHtajcpdkuf UMW

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Labourers work on a cargo ship loaded with logs at the Thilawa Port in Yangon.

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Myanmar Summary

Zayar Phyo

American science and chemical giant DuPont has start-

ed its business operations in Myanmar eyeing to tap the Southeast Asian na-tion’s agriculture, food, energy and construction sectors.

The company said it aims to address the coun-try’s challenges in feeding the growing population and reducing dependence on fossil fuels.

DuPont Myanmar will focus on strengthening its local presence through collaboration with local

powered solutions in ag-riculture, food, energy and construction, the

Myanmar became the 8th

ASEAN country and the 19th Asia territory for Du-Pont.

“Myanmar has one of the fastest growing economies and a promis-ing potential to advance ASEAN’s growth. [The of-

long-term commitment in helping meet the coun-try’s needs in agriculture and food, energy and en-vironmental protection,” said DuPont ASEAN Group Managing Director Hsing Ho.

The government has signalled its intention to become one of the world’s

leading rice exporters again, making rice crop and agriculture a key growth sector for Myan-mar. The country also faces pressing challenge on developing sustainable and clean energy sources.

“DuPont is applying its

knowledge and innova-tion to address these ur-gent needs. We believe that no company alone can solve them. We in-tend to work collabora-tively with government, NGOs, academic, custom-ers and business partners

-tions,” Hsing said.

“Integrated science can play a critical role in sup-porting Myanmar’s sus-tainable growth priorities especially in agriculture, food, and energy,” said DuPont Myanmar Man-aging Director Sittideth Sriprateth.

DuPont said it aims to enable local farmers through advanced agri-culture technologies and practices such as max-imising the yield from hybrid seeds, protecting

disease, enhancing food’s nutritional value and re-ducing waste by packag-ing food to protect it from contaminants and decay.

DuPont claims to put in over 60 percent of DuPont’s total global re-search and development

budget towards agricul-ture and food.

Sittideth said the com-pany is also poised to ad-dress the rising demand for secure, environmen-tally sustainable and af-fordable energy sources such as solar energy. “Over 70 percent of all photovoltaic solar panels ever made globally use DuPont materials,” he said.

“We are committed to the collaboration among all public and private or-ganisations and experts across all key industries with an aim to build sus-tainable growth for My-anmar. We also are ex-ploring opportunities to support community ini-tiatives and local people development,” Sittideth said.

DuPont, established in 1802, has more than 10,000 scientists and en-gineers working across 150 R&D centres globally. The company racked up $35.7 billion in revenues 2013, and has 63,000

A DuPont logo is pictured on the EMEA (Europe, Middle East & Africa) and Du Pont de Nemours Interna-tional SA building in Grand-Saconnex near Geneva.

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Michael Nesbitt

Wide-ranging reforms, backed up by planned legislative changes

and a drive to improve practic-es, look set to steer Myanmar’s mining sector into the 21st cen-tury.

Myanmar has a vast and di-verse mix of mineral resources, including jade, copper, gold, coal, tin, tungsten and nickel. However, the early stage of de-velopment means it still lacks the modern surveying tech-niques needed to move the min-ing industry forward.

The country’s leadership will be hoping that a new law gov-erning the sector, which is ex-pected to be introduced within weeks, will generate newfound

many of whom have held back due to a lack of reliable data and concerns about past practices.

Data discrepanciesJade likely tops the list of

Myanmar’s mineral exports in terms of value, but accessing

has long been dominated by the military regime’s private busi-ness fronts, the Myanmar Eco-nomic Corporation and Union of Myanmar Economic Hold-

Foreign investors and observ-ers have had to make do with

mineral resource production and exports, alongside estima-tions for neighbouring imports.

-ple, show jade exports reaching $34 million in 2011/12, while

sales of the mineral at the an-nual gems emporium in Nay Pyi Taw amounted to $2.66 billion in 2011. According to a report by an economist at Harvard’s Kennedy School, exports of the stone likely ranged between $6 billion and $9 billion in 2011.

Spring cleanThe government’s drive to

clean up the industry’s im-age, spearheaded by an ambi-

tious restructuring programme launched in 2012, is now gain-ing momentum. Myanmar’s ef-forts include plans to join the Extractives Industries Trans-parency Initiative (EITI), a global group made up of gov-ernments, businesses and other representatives, which aims to improve accountable manage-ment of revenues from natural resources.

EITI members are obliged to ensure full disclosure of all pay-ments within the sector and allow observers to review both

of payments. The practice is aimed at bringing added trans-

parency and accountability to the industry.

Myanmar has said it will ap-ply for EITI candidature in the coming months. “We want to use the EITI to ensure that these resources are developed and managed in a transparent man-

of our people,” President Thein Sein said at the end of 2013.

“Political and economic re-forms are an important part of the democratisation process. Becoming a member of the EITI will be a tangible result of these reforms.”

U Soe Thane, minister for the

the reforms in Myanmar, has put together a multi-stakehold-er group that will develop a plan to move the process forward.

Legislative changesMyanmar is also poised to in-

troduce a new mining law this year, which would overhaul the 20-year-old legislation current-ly in place.

The law is expected to pave the way for new international part-ners to enter the market and upgrade its practices. For many years, due to sanctions imposed by the US, EU and other West-ern countries, China has been the primary investor and buyer in the minerals sector. This has left Myanmar little in the way of

leverage across the sector.“Nowadays, we are in a posi-

tion to invite investors with ad-vanced technology and reliable investment from any country,” minister for mines Myint Aung told OBG.

“Although exploration activi-ties will have many challenges, the mining industry has the potential to drive economic growth, while fostering foreign investment.”

Despite a drive under way in Myanmar to roll out reforms, many investors have, to date, chosen to observe the indus-try’s developments from the sidelines. Uncertainty, a lack of information and not-so-distant memories of murky practices have meant that even investors associated with riskier ventures in emerging markets have held back.

Myanmar will be hoping that 2014 signals a new era for the industry which will see its peo-ple reaping the rewards of the country’s natural wealth.

“Income from the industry will go toward both corporate social responsibility projects and mine closure programs,” U Myint Aung told parliament in February, commenting on the new mining law.

Michael Nesbitt, is Editorial Manager at Oxford Business Group (OBG).

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A truck transports waste at a copper mine in Sarlingyi township.

Soe Z

eya Tun/Reuters

“The country’s leadership will be hoping that a new law governing the sector, which is expected

to be introduced within weeks, will generate newfound confidence among investors, many of

whom have held back due to a lack of reliable data and concerns about past practices.”


mmbiztoday.com

7LOCAL BIZ

Myanmar SummaryIncome from travel and tour-ism sector in Myanmar is to hit $1.2 billion as the

formerly-reclusive state expects tourist arrivals to swell to three

travel and tourism industry in-siders say.

ure was about two million with $900 million in tourism re-ceipts. As we expect 3 million

Phyu Thit Lwinyear, tourism income should hit about $1.2 billion,” U Aye Kyaw, a travel and tour entre-preneur, said.

Tourists visiting Myanmar stay in the country for at least two days and a tourist usually spends about $400 on average including accommodation ex-penses, he said.

France topped the chart among European countries in terms of visitor numbers last

year with a total of 33,250 tour-ists coming to the Southeast Asian country, while Thailand remained the top Asian country with 116,126 visitors.

In Asia, Japan placed second with 66,772 visitors, followed by South Korea (54,599) and China (54,325), while in Eu-rope, the UK came second with 31,172 visitors and Germany came third with 25,565 tourists.

A total of 885,476 tourists came by air, while land border

checkpoints saw 1.2 million tourists and cruise ship arrivals hit 6,086.

Among the travellers coming via air, 803,014 came through the country’s commercial hub Yangon, more than 40 percent increase compared with 2012.

The number of business visi-tors also surged 32 percent, while group tours increased over 8 percent last year.

As the tourists swell in num-ber, the hotel business also booms across country. Cur-rently, 924 hotels are in busi-ness with 3,500 rooms. Room charges vary from $50 to $300, hotel entrepreneurs say.

The tourism industry grabbed $534 million in 2012 and $900 in 2013 in tourism receipts, ac-cording to the Ministry of Ho-tels and Tourism.

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Shwedagon Pagoda, one of Myanmar’s most famous tourist sites.

U A

ung/

Xin

hua

Foreign investment reaches $3.6b in FY2013-14

Phyu Thit Lwin

Contracted foreign direct investment (FDI) in My-

year 2012-13, which means Myanmar could triple FDI

facturing sector while 20 percent went to the telecom-munication sector, said U Aung Naing Oo, director gen-eral of the Directorate of Investment and Companies Administration (DICA) under the Ministry of National Planning and Economic Development.

He said there were no short-term foreign direct in-vestments in Myanmar, as a new law on FDI requires a timeframe of at least 20 years.

Myanmar enacted a new foreign investment law in November 2012, replacing the over-two-decade-old similar law in a bid to further attract foreign invest-ment. Myanmar was shunned by the West during the military junta rule from 1988 to 2010, and economic sanctions made it harder for the former-pariah state

dropped in 2012, as President U Thein Sein embarked on a series of political and economic reforms since he

“More special economic zones will be built to make it convenient for foreign investors to invest in the coun-try,” U Aung Naing Oo said.

In 2014-2015 FY, foreign banks will be allowed to op-erate in Myanmar, which is expected to up the FDI in-

Contd. P 9...



Myanmar Summary

Summit in Myanmar

President calls on regional organisation to promote development

Wai Linn Kyaw

Three major deals were inked during the third Bay of Bengal Initia-

tive for Multi-sectoral Techni-cal and Economic Cooperation (BIMSTEC) Summit held in Myanmar’s capital Nay Pyi Taw.

The agreements include two Memoranda of Association (MoAs) and one Memorandum of Understanding (MoU) on setting up BIMSTEC’s Secretar-

a meteorology and hydrology department in Noida, India and

cultural department in Thimpu, Bhutan.

President U Thein Sein called on the seven-member regional body to promote development of the peoples of BIMSTEC,

stronger cooperation that will sustain the momentum of the group.

“Our top priority is to allevi-ate poverty in the region and improve the quality of life and well-being of our peoples,” he said.

“We are now working togeth-er in 14 sectors including trade

and investment, technology, energy, transport and commu-

-riculture, cultural cooperation, environment and disaster man-agement, public health, people-to-people contract, poverty alleviation, counter-terrorism and transnational crime, and climate change.”

He said the member states need to combine their strengths and resources to engage with other international bodies in addressing non-traditional and transnational challenges of cli-mate change, natural disasters,

energy and food security.“Through the collective en-

deavours and in a spirit of equality and partnership, we will certainly be accelerating economic growth and social progress in the sub-region.”

The member countries – Bangladesh, Bhutan, India, My-anmar, Nepal, Sri Lanka and Thailand – also issued a decla-ration, which called for expe-

into the BIMSTEC Convention on Cooperation in Combating International Terrorism.

-nalise the draft Agreement on Trade in Goods with General Rules of Origin and Product

towards signing the Agreement on Dispute Settlement Proce-dures and the Agreement on Cooperation and Mutual Assis-tance in Customs Matters.

The third BIMSTEC summit and its related meetings were held from March 1-4. The First and Second BIMSTEC Sum-mits were held in Thailand in 2004 and in India in 2008. Al-though Myanmar has assumed BIMSTEC Chair since 2009, there has been a delay in ap-proval by members for Myan-mar to host the third Summit. The 13th ministerial level meet-ing held in Nay Pyi Taw in 2011 approved Myanmar to host the third BIMSTEC Summit and re-lated meetings.

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(L to R) Bangladesh Prime Minister Sheikh Hasina, Bhutan Prime Minister Tshering Tobgay, Indian Prime Minister Manmo-han Singh, Myanmar President U Thein Sein, Nepal’s Prime Minister Sushil Koirala, Sri Lankan President Mahinda Raja-paksa, and Thai Foreign Ministry’s Permanent Secretary Sihasak Phuangketkeow pose for group photos during the opening ceremony of the third Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) Summit at Myanmar International Convention Center (MICC) in Nay Pyi Taw.

U A

ung/

Xin

hua

Nwe Zin

The Department of Civil Aviation (DCA) in April will invite tenders from

private companies to upgrade and operate the country’s local

The move comes as the gov-ernment moves to privatise My-anmar’s civil aviation sector to

-vide better services.

“We will give priority to pri-vate entrepreneurs who have experiences in dealing with airport operation and upgrade process. The bidding and selec-tion process will be transpar-ent,” U Win Swe Tun, Deputy Director of DCA said.

“We want to privatise airports because private companies can bring in new ideas and modern technology. When an airport is

state-run, there are limitations. We can’t expand or upgrade as much as we would like to be-cause of shortage of funds,” he said.

“There are many roles a pri-vate company can play in an airport. Businesspeople can choose the role they are inter-ested in and can participate.”

Foreign companies will not be able to bid as 100 percent foreign-invested entities, rather they have to form joint ventures with local partners, he said.

In Myanmar, a total of 27 lo-cal airports serve 33 airlines on a daily basis.

Myanmar Summary

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Passengers board a plane in Thandwe Airport in Ngapali, Rakhine state.

Sherpa H

ossainy



Myanmar SummarySingapore-based light-ing solutions provid-er Krislite has teamed

up with General Electric (GE) Lighting in a bid to

-ny’s solutions and products to projects and developers in Myanmar.

Through the deal, Kris-

of GE Lighting’s extensive portfolio of products and solutions, GE Lighting said in a statement.

The range of application includes the latest energy

-gies for roadway lighting,

“better and more reliable lighting quality while low-ering the energy cost,” GE said.

Jack Tan, country man-ager GE Lighting Myan-mar, said, “We hope to share our knowledge and expertise in the lighting industry, help Myanmar develop their lighting in-frastructure and increase

Kyaw Min

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From L-R) Jack Tan, country manager, GE Lighting for Singapore, Brunei & Myanmar, and Sims Teo, director, Krislite Pte Ltd, signing the Myanmar distributor agreement between GE Lighting and Krislite.

aid in the country’s devel-opment.

“We have established a foothold in Myanmar and she has become one of our most important partners as we stride towards a

brighter future,” Tan said.U Myint Swe, chief min-

ister for Yangon Region Government, said, “I’m sure the collaboration of these two experts will pro-duce a fruitful result for Myanmar and become a

core stimulant that helps drive the development of our country.”

GE Lighting employs over 17,000 people in more than 100 countries. In the last one and a half year, GE has made sev-

eral deals in healthcare, aviation and power gen-eration sectors with local companies.

Krislite has market presence in Singapore, Myanmar and China through projects in city

infrastructure, public and residential sectors.

Myanmar received over $1 billion in FDI in the month of January alone with Singapore as the top investor, fol-lowed by Hong Kong, South Korea and Japan. Those countries invested most in the garment, manufacturing and beverage distribution sectors, as well as communi-cation. January’s bump in FDI was driven by natural gas, petroleum, hotels and tourism, and marine sector investments, DICA data shows.

Singaporean companies have been expanding their investments in sectors such as energy, construction, hotels and tourism, agriculture and industrial sectors, making it the largest foreign investor in the country in 2013, according to DICA.

The Myanmar Investment Commission allowed a to-tal of 13 foreign investments in January. Of those, three companies are from Singapore and Hong Kong, two from South Korea and Japan and the rest from China, Thailand and the United Kingdom.

As of December last year, the total amount of foreign investment was $44.2 billion.

“Hotels and tourism sector is receiving a lot of foreign investment and we expect this sector to receive more in

The ministry gave the green light to 39 foreign inves-tors to work in Myanmar’s hotel and tourism sector last year. Those companies invested $1.9 billion in 2013, DICA data show.

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GE



Myanmar Summary

Becomes the fi rst environmental consultancy

ENVIRON, an internation-al environmental, health, safety and sustainabil-

ity consultancy, has established its operations in Myanmar,

ronmental consultancy on the

announced.“This is a time of great change

in Myanmar, and there is tre-mendous need for the services ENVIRON provides in sup-porting sustainable economic development,” said Stephen Washburn, ENVIRON Chief

allows us to work more closely with clients and other stake-holders to make sure these needs are met.”

demand in Myanmar for envi-ronmental and social impact assessments (ESIAs) of pro-posed development projects, as well as related services such as site evaluation and selection, permitting, water resources, air quality management, human health and ecological assess-ment, and environmental man-agement systems.

Juliana Ding, managing di-

tions, said: “Myanmar has an emerging regulatory framework aimed at ensuring environmen-tal protection and sustainable development, and being on the ground is critical to supporting clients as they establish opera-tions in Myanmar.”

Principal Consultant and Di-rector Dr Virginia Alzina, based in Yangon, will manage the My-anmar operations, whose. Dr Alzina’s expertise includes In-ternational ESIA practices and

Nwe Zin standards such as the Equator Principles, the International Finance Corporation Perfor-mance Standards and other in-

requirements.“These are exciting times to

be on the ground in Myanmar,” Alzina said.

ENVIRON has over 1,000 consultants operating from

countries.

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Singapore-based consor-tium Creative Professional Groups (CPG) has won a

tender bid to get selected as the

phyu Special Economic Zone (SEZ) in Myanmar’s southeast-ern Rakhine state.

CPG came out on top out of a total 17 companies that bid for the tender worth $2.5 million, while Netherland-based KPMG was selected as backup, joint secretary of the Kyaukphyu SEZ bid evaluation and awarding committee, U Aung Kyaw Than, told a news conference. A total of 31 companies expressed in-terest to take part in the bid in

The estimated expenditure for Kyaukphyu SEZ is about $277 million, bid evaluation and awarding committee secre-tary U Myint Thein said, adding that the consultant will receive 5 percent of the estimated ex-penditure according to interna-

Zayar Phyo tional practice. CPG will provide consultancy

services regarding land issues,

nance and project programs and calling tenders to recruit the SEZ developer.

The CPG consortium com-

DTZ, G Maps and PM Link, U Aung Kyaw Than said.

“Kyaukphyu SEZ is not a state project but a private one. The deep sea port here will facilitate ocean liners and there are a lot of opportunities as this SEZ is close to big markets of India and Chi-na,” Deputy Minister for Finance U Maung Maung Thein said.

The SEZ is being developed

one – a conceptual plan – have

economists, businesspeople and Kyaukphyu locals. Selecting the consultant was the second stage, while the third one involves invit-ing tenders for a developer. The fourth stage will see the construc-tion of the 1,000-acre SEZ.

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Myanmar Summary

Dam

ir Sagolj/R

euters



Myanmar Summary

Myanmar Summary

The Obama administration

2012 bill that left a World Bank agency out of a list of 12

-tions that could receive US sup-port to promote development in Myanmar.

The Multilateral Investment Guarantee Agency (MIGA) pro-motes foreign direct investment in emerging markets by pro-tecting private investors from various forms of political risk.

“Because of this technical problem, the United States is still required to oppose guar-antees provided by MIGA for private investment in Burma,” the Obama administration said in its budget request submitted

2015, which begins October 1.With only 130 employees,

MIGA is one of the smallest institutions within the World Bank. More than 10,000 peo-ple work for the main World Bank unit and over 3,000 peo-ple at the International Finance Corporation, its private sector lending arm.

According to the US budget request, several MIGA projects are planned for Myanmar that the United States would be forced to oppose because of the error.

Anna Yukhananov Congress for years banned the United States from backing any development loans to the Southeast Asian nation, which was ruled by a military junta accused of human rights viola-tions.

-er, the military government stepped aside and the country launched a series of economic and political reforms, prompt-ing a rapid rapprochement with Washington. Reuters

American information and measurement com-pany Nielsen Holdings

NV has formed a joint venture -

mar Marketing Research & De-velopment Co Ltd (MMRD) in a bid to provide their clients with Myanmar marketplace and consumer behavior informa-tion, the companies announced.

The joint venture entity, Nielsen MMRD, will see the two organisations combine their ca-pabilities to “help companies which are established in Myan-mar or have plans to enter the market to understand the mar-ket and consumer dynamics,” the companies said in a joint statement.

“With a population of over 56 million, Myanmar is the second largest country in ASEAN and one of the last remaining un-tapped frontiers for our clients, and we look forward to working closely with the MMRD team to help our combined client base gain the deepest insight into Myanmar’s marketplace and consumers,” Suresh Ramal-ingam, Nielsen’s Managing Di-rector of Thailand and Vietnam Cluster.

“We are excited to begin this collaboration with MMRD, a highly-respected and well-es-

Pann Nu in Myanmar.” U Moe Kyaw, Nielsen Senior

Advisor and Managing Director

the joint venture arrangement as a pivotal opportunity to re-alise its vision to deliver wider international exposure to its clients while broadening the depth of its services.

“We’ve seen a substantial in-crease in demand for insights on Myanmar, evidenced by the 88.5 percent net growth in mar-ket research reported by ESO-MAR, and we are now much better-positioned to help our clients here and abroad to un-derstand our unique market-place.”

U Moe Kyaw said recent po-litical reforms coupled with a large, young population and healthy economic outlook make Myanmar a highly attractive market.

“The market is shifting rap-idly, however, with burgeon-ing media usage and evolving purchasing behaviour. Staying abreast of changing consumer habits will be a critical success factor for local and multina-tional companies alike in the years ahead.”

Nielsen has a presence in ap-proximately 100 countries, with headquarters in New York, USA, and Diemen, the Nether-lands. Nielsen is active in over 100 countries and employs ap-

proximately 35,000 people worldwide, with total revenues of $5.7 billion in 2013.

MMRD was established in

market research agency. It has 250 research professionals in

the country.

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Xin

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Jonathan Ernst/R

euters



Given high reliance on the abundant natural resources and low productivity in agriculture, Myanmar’s economy is vulnerable to potential shocks.

Soe Z

eya Tun/Reuters

“While it does not directly threaten the growth momentum or the ongoing reforms,

it does have potential to dampen investor interest in the West, shift resources from

economic development to political consolidation and aggravate domestic divisions.”

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foreign investment and strong commodity exports, it is on track to grow 6.9 percent in the medium-term.

As it seeks to diversify its for-eign trade and investment, Nay Pyi Taw is amidst a delicate bal-ancing act between Chinese and Western capital. To succeed, it

its old and new investors. Do-mestically, the critical challenge will be to use these resources to diversify the country’s nascent industrial structure.

The emergence of Myanmar has often been compared with that of Asia’s tiger economies in the 1960s and 1970s, and China in the 1980s. There is a major

past decades, emerging econo-

booming global integration. To-day, the global landscape is far more challenging.

True, recently global activity has picked up as growth pros-

half of 2013, thanks to the lin-gering recovery in the advanced economies. But in these nations, growth remains policy-driven and is not yet self-sustained.

While the US has recovered fastest, its exit from the mon-etary stimulus is likely to take until the end of 2010s. Europe will cope with policy-driven support well into the 2020s. And Japan hopes to overcome its two “lost decades” with a bold reform gamble.

-cial volatility has recently af-fected certain emerging and ad-vanced economies, as markets reassess their fundamentals. This volatility began to rise last

when the US Fed started its ta-pering, and peaked in January after the Fed continued to taper.

Given high reliance on the abundant natural resources and low productivity in agriculture, Myanmar’s economy is vulner-able to potential shocks, how-ever.

Defuse risksLet’s focus on the common

denominators in those fragile emerging economies that were penalized the most. Typically,

-

persistent, long-standing politi-cal uncertainty fuelled by im-pending elections.

Unlike India, Indonesia, Bra-zil, Turkey or South Africa, My-anmar has not been adversely

On the contrary, the outlook is positive and the economy’s growth could rise to 6.9 percent in the medium-term, as long as the reform momentum will pre-vail.

While reforms do protect My-anmar in the long-term, the short-term challenges are a dif-ferent story.

After all, while Myanmar’s

percent of the GDP, the currency

percent of the GDP in 2012/13. -

ed the country, but was barely 2.8 percent in 2012/13; howev-

the back of food prices, housing rental costs and fuel.

So economic risks exist, but remain subdued as long as there is a solid growth momen-tum. What about political risk?

The next general election is due by November 2015. While the National League for De-mocracy has said that it would participate in the election even without a constitutional amend-ment, its leader Aung San Suu Kyi has vowed to challenge the old charter that blocks anyone whose spouse or children are overseas citizens from leading the country.

Political risks do exist and may intensify, but as long as they will not cause political fragmentation, reform momen-tum can be sustained.

However, Myanmar’s internal ethnic and religious friction is

not directly threaten the growth momentum or the ongoing re-forms, it does have potential to dampen investor interest in the West, shift resources from eco-nomic development to political consolidation and aggravate domestic divisions.

Toward decisive and accelerated progress

Further, not all risks are in-ternal. In any major crisis, transmission channels play a central role. Even if progress will prevail internally, but fails externally, Myanmar would be

and investment transmission channels.

In this case, there are several potentially negative scenarios, including a stalled US recovery, a new bout of uncertainty in Europe, a possible failure of re-forms in Japan, an unanticipat-ed slowdown in China, or fur-ther plunge of the commodities.

The only way for Myanmar to move ahead is decisive and accelerated progress. That re-quires at least the following:

A strong reform momentum to avoid growth reversals, while building resilient institutions and deepening the rule of law;

Inclusive economic growth to ensure that catch-up growth

society in the entire country; Reconciliation to overcome

the kind of ethnic friction and religious violence, which were initiated during colonialism, but which have been re-ignited by an impending sense of na-tion-hood.

Adequate political consen-sus among the large parties to support enforcement in order to enable change, even when it challenges entrenched inter-ests.

Dr Dan Steinbock is the re-search director of international business at the India, China and America Institute (USA) and a visiting fellow at the Shang-

hai Institutes for International Studies (China) and EU Center (Singapore). For more, please

-group.net.

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mmbiztoday.comREGIONAL BIZ 13

Myanmar Summary

Thailand’s PTT Explora-tion and Production Pcl

investment budget by 8 percent and 2014 petroleum sales tar-get by 3 percent due to lower

and a delay in the startup of a

The country’s top oil and gas explorer aimed to spend $25 billion during 2014-2018, lower than the previously announced $27.5 billion after an asset swap in the Canadian KKD oilsands project with Norway’s Statoil.

“We don’t have to invest more after the restructuring in the

sales volume too,” Yongyos Krongphanich, senior vice pres-

Norway’s Statoil is stepping up its exposure to Canadian oil-sands, paying about $200 mil-lion to take full control of some assets it had previously shared with the Thai explorer.

PTTEP now expects 2014 pe-troleum sales of 325,000 bar-rels of oil equivalent per day (BOEPD), versus an earlier forecast of 337,000 BOEPD, as a cyclone in Australia cut out-

-low its 30,000 barrels per day (bpd) target, Yongyos said.

“The impact from weather conditions will cut output by 3,000-4,000 bpd,” he said.

The sales forecast represented

Pisit Changplayngam a 10 percent increase from 2013 when the company cut it sales target twice due to repeated de-

He also said the startup of

Myanmar will be delayed by a month and the new schedule will be in the second quarter of this year.

controlled PTT Pcl, ranked among Asia’s top 10 explorers, is scouting for oil and gas assets to boost energy security in fast-growing Thailand. Southeast Asia’s second-biggest economy relies on natural gas to generate almost 70 percent of its electric-ity.

its 2014 revenue is expected to rise 4 percent to 2.97 trillion baht ($91.41 billion) due to higher oil and gas demand in line with the country’s econom-ic growth.

The forecast was based on the projection of average Dubai crude prices at $105 bpd, slight-ly lower than last year, Phichin Aphiwantanaporn, vice presi-dent for investor relations, told reporters.

The energy giant also aims to

and its power unit, Global Power Synergy Co, on the Thai bourse in the second half of this year, Phichin said.

SPRC, 64-percent owned by oil giant Chevron Corp, oper-

ates a 160,000 barrel-per-day

province.PTT, which scaled back

spending plans for last year, has long planned to dilute its 36 percent holding in SPRC, but the listing has been delayed for several years as negotiations with Chevron foundered on dif-ferences over details.

Phichin also said PTT was ex-pected to post losses of about 30 billion baht from the sub-sidies on natural gas vehicles

gas (LPG) in 2014 due mainly

to a limited number of NGV ser-vice stations. Reuters

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Files

His BIMSTEC team had seven officials – India’s Manmohan Singh went with over 100 delegates

Flying in to Myanmar’s capital on a scheduled

arrived on special aircraft, Ne-pal’s newly appointed Prime Minister Sushil Koirala held out a quiet lesson in austerity

Praveen Swami to regional leaders who are at-tending a seven-nation summit in Myanmar.

Koirala, Nepali diplomatic

from Kathmandu to Bangkok on a scheduled Thai airways

-

Pyi Daw after an overnight layo-ver.

His delegation is made up

contrast with the over 100 dele-

accompanied Prime Minister Manmohan Singh to the sum-mit. Singh and his entourage, which includes 37 journalists,

-tered from Air India.

Koirala, who spent three years in jail in India decades ago on charges of hijacking a plane car-rying cash to fund pro-democ-racy politics in Nepal, is known for his austere lifestyle.

President Mahinda Rajapaksa also arrived in a chartered air-craft, a Sri Lankan airlines Air-bus A340. Rajapaksa’s delega-tion was made up of 71 people. Bangladesh’s Sheikh Hasina brought an entourage of 37, in-

-nalists.

“Don’t give people ideas,”

Salman Khurshid, responding to Nepali media reports that incorrectly claimed that Koirala had travelled economy class.

“They’ll expect all of us to do the same.”

-ness class to Nay Pyi Taw, like Koirala.

Large expenses by leaders on foreign tours have become a po-litically volatile issue in many cash-strapped countries. Last year, revelations that Singh had spent Rs640 crore ($104 million) on foreign tours since

critical media comment. The Hindu

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Myanmar President U Thein Sein (R) shakes hands with Nepal’s Prime Minister Sushil Koirala during the opening ceremony of the third Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) Summit at My-anmar International Convention Center (MICC) in Nay Pyi Taw.

U A

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Myanmar Summary

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The expansion of Singa-

east Asia continues to gain pace, with activities clus-tered in Malaysia and Indone-sia, while Myanmar beckons as the next frontier for business opportunities.

This comes as more regional and international companies are stepping up cross-border expansion in Asia to ride on the region’s rapid growth, said Sam Cheong, head of UOB’s Group Foreign Direct Investment (FDI) Advisory Unit.

“For Singapore companies, Indonesia remains a hot spot (for overseas expansion) … And, of course, Malaysia, where businesses are still looking at Iskandar as one of their logis-tics hubs due to the cost factor,” he added.

“Another hot spot is Myan-mar, where we see a lot of inter-est from FDI, given its political

Wong Wei Han and economic transformation in the last two years.”

Cheong made this comment as he highlighted the role of Singa-

of UOB’s FDI advisory units, which provide one-stop bank-ing services – such as corporate loans and foreign-exchange set-tlements – for overseas compa-nies setting up shop in markets abroad.

“We see more Singaporean companies expanding their op-erations overseas. Over the last year, I have seen about a 30 per-

use our FDI advisory units for overseas expansion,” he said.

“These include companies that are expanding into the region to mitigate the labour shortage in Singapore, while breaking into regional markets that have a fast-growing middle class.”

As a result, demand from

counts for about a quarter of the

cross-border loans facilitated by UOB’s FDI advisory units, which amount to “double-digit billions” of dollars, said the bank.

The growth experienced by

the government’s ongoing push for economic restructuring, which has resulted in domestic cost and manpower pressures on businesses, forcing them to look overseas for growth.

One of the popular destina-tions is Myanmar, where Sin-

tablished in the hospitality and infrastructure sectors, among

year, the Republic’s trade with Myanmar grew 53 percent on-year to $1.1 billion, data from International Enterprise Singa-pore shows.

abroad, they are joining the ranks of regional and global businesses growing across Asia, which attracted up to $406 bil-

lion of foreign investment last year, of which $127 billion went

ures show.Meanwhile, in the Republic,

in the region, around half of

UOB’s advisory unit are from Chinese companies, the bank’s data shows. Southeast Asian

cent, while Western companies account for 20 percent.

Cheong said these regional activities have enabled UOB to double its cross-border loans ahead of a three-year target that was set in June 2011, when the bank opened its FDI advisory services in Singapore.

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Myanmar Summary



Myanmar Summary

China targets 2014 economic growth of about 7.5pc; Eyes inflation target of around 3.5pc

Kevin Yao and Xiaoyi Shao

China sent its strongest signal yet that its days of chasing breakneck

economic growth were over, promising to wage a “war” on pollution and reduce the pace of investment to a decade-low as it pursues more sustainable expansion.

In a State of the Union style address to an annual parliament meeting that began last week, Premier Li Keqiang said China aimed to expand its economy by 7.5 percent this year, the high-est among the world’s major powers, although he stressed that growth would not get in the way of reforms.

In carefully crafted language that suggested Beijing had thought hard about leaving the forecast unchanged from last year, Li said the world’s second-largest economy will pursue re-

to the environment, even as it seeks to create jobs and wealth.

After 30 years of red-hot dou-ble-digit growth that has lifted millions out of poverty but also polluted the country’s air and water and saddled the nation with ominous debt levels, China

wants to change tack and rebal-ance its economy.

“Reform is the top priority for the government,” Li told around 3,000 hand-picked delegates in

in a cavernous meeting hall in central Beijing.

“We must have the mettle

shackles to deepen reforms on all fronts.”

Idle factories will be shut, pri-vate investment encouraged, government red-tape cut and work on a new environmental protection tax speeded up to create a greener economy pow-

ered by consumption rather than investment, Li said.

To aid the transformation, China’s economic planner, the National Development and Re-form Commission, told parlia-ment the government will target

asset investment this year, the slowest in 12 years.

Investment is the largest driver of China’s economy and accounted for over half of last year’s 7.7 percent growth by ris-ing 19.6 percent, above an 18 percent target.

Asian currencies rose on the news that China’s $9.4 trillion

economy will stay on an even keel after its wobbly start for the year. Investors had been worried by speculation that China may announce a cut in its growth target this week.

“Given that GDP growth is expected to be 7.5 percent for ‘longer’, we see this target as supportive for the Asian region, trade, and for commodity cur-rencies,” said Annette Beacher, an analyst at TD Securities in Singapore.

Others were less optimistic.By declining to lower its 7.5

percent growth forecast, China is betraying its refusal to break

with the past, some analysts said. That means Beijing may not be as radical in reforms as hoped.

“It’s a sign that maybe they are not going to tackle credit growth as quickly as we thought they might,” said Julian Evans-Pritchard, an economist at Cap-ital Economics in Singapore. Reuters

Indonesia’s consumers were less optimistic in Feb-ruary, expecting a slowdown in business conditions over the next six months, a central bank survey

showed last week.

116.7 in the previous reading. A reading above 100 indi-cates that consumers in general are optimistic.

But the Bank Indonesia survey said that optimism over the economy, compared with the last six months, as well as manageable price expectations had helped

Prices pressures are expected to ease in the next three months, despite a general election in April, then rise during the Muslim fasting month in July, after which they will ease again.

-ing compared with 8.22 percent in the previous month.

and processed food.Bank Indonesia reported annual loan growth in December of 21.4 percent, slowing from January’s 21.9 percent.The central bank expects annual

Reuters

Nilufar Rizki

Myanmar Summary

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Smog can be seen over new apartment buildings where the local government built homes for former miners and farmers as part of an urbanisation programme in Mentougou district, suburb of Beijing.

Kim

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Reu

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mmbiztoday.comINTERNATIONAL BIZ 16

Myanmar Summary

Myanmar Summary

Record cattle slaughter rates fuel 2013/14 beef imports

Drought conditions across Australia’s east coast will cut

production of key agricul-tural commodities such as wheat and beef next sea-son and reduce exports, the government’s chief commodities forecaster said.

The current season could see Australia, the world’s third-largest wheat exporter, produce a bumper wheat crop, with increased plantings and if

Colin Packham late season rains materi-alise.

However, forecasts of a return of dry El Nino weather conditions across the key farming states of Queensland and New South Wales later in 2014 mean the prospects for agricultural production remain uncertain.

Global markets will be watching forecasts of Australia’s crop given concerns over Ukraine tensions disrupting sup-ply from the Black Sea area, one of the world’s

key grain exporting re-gions.

Australian wheat pro-duction is forecast to fall 8.2 percent to 24.795 mil-lion in the 2014/15 sea-son from 27.013 million tonnes this year as dry conditions curb yields, the Australian Bureau of Agricultural, Resource Economics and Sciences (ABARES) said.

ABARES said the de-cline in production will come despite a 2 percent increase in acreage plant-ed as yields return to his-

torical average levels due to dry conditions.

The yields assumptions are based on a break in the drought, but with fore-casts for more dry condi-tions across Australia’s east coast, the commodity forecaster acknowledged further cuts to yields are possible.

forecast at the moment, it is not just the amount of rain, but also the tim-ing ... you don’t need huge amounts of rain in the growth period, it just has to come at the right time,” said Jammie Penm, chief commodity forecaster at ABARES, referring to un-certainty over yields in 2014/15.

Despite the dry condi-tions, this season’s Aus-tralian wheat harvest could be the country’s sixth-largest crop on re-cord. Such a bumper crop could drag on rising US wheat prices.

Drought impacts beef exports

Australia’s drought was also resulting in record cattle slaughter rates, prompting ABARES to up its forecast for 2013/14 beef exports to 1.15 mil-lion tonnes.

Parts of Queensland,

Australia’s largest cattle producing state and home to half the national herd, have recorded the driest two years on record.

ABARES said Austral-ia’s national herd will fall to 27.1 million head, the lowest since the 2009/10 season, a year also im-pacted by drought.

But the following sea-son, 2014/15, ABARES, based on its assumption of a break in the drought, is forecasting cattle farm-ers will begin to rebuild stock, resulting in a fall in beef exports of nearly 7 percent.

If the drought breaks, exports would fall to 1.04 million tonnes, cement-ing Australia’s position as the world’s third-largest beef exporter, ABARES said.

However, with the Aus-tralian Bureau of Me-teorology calling for a continuation of hot, dry conditions in Queens-land, cattle slaughter rates could continue at near record pace, limiting any slowing of exports. Reuters

Growth in global smartphone ship-ments will fall

sharply this year and keep slowing through 2018, with average prices drop-

-mand shifts to China and other developing coun-tries, according to market

Annual growth in 2014 is expected to be 19.3 per-cent and then decline to 6.2 percent in 2018, IDC said in a report. That fol-lows a 39.2 percent jump in 2013 when smart-phone shipments topped

time.The forecast reinforces

concerns on Wall Street that the explosion in

Noel Randewich smartphones that be-gan with Apple’s iPhone in 2007 is coming to an end, at least in the Unit-ed States and other de-veloped countries where consumers favour pricey, top-tier handsets.

Smartphone growth in North America and Eu-rope is expected to shrink to single digits and Japan could even see a slight slowdown in shipments in the next few years, IDC said.

Manufacturers are in-creasingly focusing on China where many con-sumers are upgrading from basic cellphones to smartphones selling for under $300.

“New markets for

rules to play by and ‘pre-

mium’ will not be a ma-jor factor in the regions driving overall market growth,” IDC analyst Ryan Reith said in a re-port.

The average selling price for smarpthones last year was $335, already far be-

the iPhone 5S or Samsung Galaxy S4, and will fall to $260 by 2018, IDC said. Reuters

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Australian Prime Minister Tony Abbott (R) meets with outback graziers Phillip and Di Ridge of their property named “Jandra” near Bourke in western New South Wales. Abbott was taking part in a drought tour with Australian Agriculture minister Barnaby Joyce. A drought in Australia has forced ranchers in the world’s third-biggest beef exporter to cull cows, stoking fears of a global beef shortage in coming years with the U.S. herd at its lowest in six decades.

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mmbiztoday.comINTERNATIONAL BIZ 17

Martin Dokoupil & Stanley Carvalho

Financial markets should not take an acceleration of US economic growth

this year for granted, former US Treasury Secretary Lawrence Summers said last week.

“Many of us hoped that this will be the year (of faster US growth). But we cannot take it for granted yet,” Summers, also a former top aide to President Barack Obama, said in a speech

United Arab Emirates’ capital.“The last couple of months’

data for the US were not what we wanted them to be. Partly or almost everything is perhaps due to weather, but we cannot entirely count on it,” he said.

Summers, now an economist at Harvard University, with-drew last September from the nomination race to replace for-mer Federal Reserve Chairman Ben Bernanke, whose term ex-pired in January, opening the door for Janet Yellen.

He said the fracking revolution in the United States, which is al-lowing it to tap unconventional

sources of oil and gas, was a big positive for the US economy.

But he added, “Risks in the US are much more on the side of

Ultra-loose monetary policy, known as quantitative easing,

Myanmar Summary

In the world of self-made, hoodie-wearing technology billionaires, Sheryl Sand-

improbable: She has joined their ranks without founding her own company or writing a single line of code.

The fact that Facebook’s chief

incidental, of course, but it’s also noteworthy: Of the 268 newcomers to the 2014 Forbes Billionaires list, 42 are wom-en – a single-year record and, more notably, the highest-ever percentage of newcomers (and of women billionaires overall – 172 out of 1,645 ).

That’s progress. But only a bit. Only 32 billionaire women – or 1.9 percent of all the globe’s billionaires – had a meaning-ful hand in building their own fortunes, as opposed to inher-iting one from a parent or hus-band. Sandberg joins the dozen women, including Spanx’s Sara Blakely, fashion designer Tory Burch and Oprah Winfrey, who accomplished this feat without

Connie Guglielmo

Facebook COO Sheryl Sandberg has parlayed her stints at Facebook and Google into a personal fortune worth more than $1 billion.

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the help of a husband or sibling. And only she and Meg Whit-man, who worked at Hasbro and FTD before joining eBay, accomplished this feat as hired hands of tech companies.

Thus Sandberg’s perspective, distilled in her bestseller, Lean In, seems doubly apt. In a re-cent interview with Forbes she said she was “real optimistic” about the dialogue and debate generated by her book, which exhorts professional women to

pour more energy into their careers, stop tolerating that high achiev-ers are termed “bossy” while their male counterparts are praised as “ag-gressive,” and pick partners who will share in parenting and household du-ties.

“Businesses are going to care about diversity not be-cause they want to do good in the world,” says Sand-

berg. “They’re going to care about diversity if it’s going to change their bottom line.”

She says that she hosts pri-vate “Lean In Circles” and, in her book, advocates for others to do the same. Over dinner at her home, other leading wom-en hear from special guests. One speaker: Cisco CEO John Chambers. “What he under-stood is that it wasn’t about having women in your compa-ny but about having women in

leadership roles. … If you have the best talent, you’re going to have the best performance.” That presumably will translate to more women like Sandberg

-ing.

In her book, Sandberg de-tailed her intense negotiations with Facebook CEO Mark Zuck-erberg as she was being courted for the company’s chief oper-

play hardball,” she wrote with

half a decade after accepting the COO gig, Sandberg is likely thankful she stuck to her guns during negotiations. She is now one of the world’s youngest self-made women billionaires. With Facebook’s share prices up more than 130 percent in the last 12 months as of mid-Feb 2014, the mother of two appears on the Billionaires list for the

million shares in the social net-

executive, she was wooed to Facebook by Zuckerberg in 2007 to provide a sense of or-

by college dropouts. She’s since become a foil for Zuckerberg, pushing the company toward strong earnings performances with improvements in mobile strategy. In addition to her role at Facebook, Sandberg also sits on the board at the Walt Disney Co. Forbes

Myanmar Summary

tar&duef\ pD;yGm;a&;wdk;wufzGHUNzdK; rIudk ,ckESpfwGif ydkrdkwdk;wufaumif;rGef vmrnf[k cefYrSef;xm;Muaomfvnf; aiGaMu;aps;uGufrsm;taejzifh raocsmra&&mrIrsm; &SdaeaMumif;vnf; tar&d uefb@ma&;0efBuD;XmerS twGif;a&;rSL; a[mif;wpfOD;jzpfol Lawrence Summers u vGefcJhonfh&ufowåywfu ajymMum; cJhonf/

,ckESpfonf tar&duef\pD;yGm;a&; ydkrdkzGHUNzdK;wdk;wufonfhESpfwpfESpfjzpfvmrnf[k arQmfvifhcJhMuaomfvnf; rdrdwdkY taejzifh tcdkiftrmrajymqdkEdkifao; aMumif; Summers u ,lattD;wGif jyKvkyfaom b@ma&;qdkif&mawGUqHk aqG;aEG;yGJwpfckwGif ajymMum;cJhonf/ vGefcJhaom vtenf;i,ftwGif; tar &duef\pD;yGm;a&;tcsuftvufrsm;onf rdrdwdkY arQmfvifhcJhonfhtwdkif;jzpfrvmcJh

[m;Awfwuúodkvf\ pD;yGm;a&;ynm&Sif wpfOD;jzpfonfh Summers u a&eHESifh obm0"mwfaiGUt&if;tjrpfrsm;tm; azmfaqmifvkyfudkifvmEdkifonfhtcsufu tar&duef\ pD;yGm;a&;twGuf tvGef aumif;rGefaomtcsufwpfckyifjzpfaMumif; ajymMum;cJhonf/

urÇmay:wGif oef;<u,folaX;rsm;pGm&Sdonfhteuf Facebook \ trsKd; orD;pDtD;tdkjzpfol Sheryl Sandberg rSmvnf; oef;<u,folaX;wpfOD;yifjzpf onf/urÇmhoef;<u,folaX;rsm;pm&if; udk rSwfom;jyKpkonfh Forbes r*¾Zif;\ 2014 oef;<u,folaX;pm&if;wGif olaX; topfaygif; 268 OD;&Sdonfhteuf 42 OD; rSm trsKd;orD;rsm;jzpfNyD; 2014 ckESpf onf rSwfwrf;wpfck0ifavmufatmifyif oef;<u,folaX;topfrsm;xGufay:vmovdk urÇmhoef;<u,folaX;rsm;pm&if;wGif trsKd;orD;rsm;yg0ifvmrIuvnf; oef;<u,folaX;pkpkaygif; 1645 OD;wGif trsKd;orD;oef;<u,folaX;aygif; 172 OD; txd&SdvmcJhonf/xdkpm&if;tm;oHk;oyf jcif;tm;jzifh oef;<u,folaX;pm&if;wGif trsKd;orD;rsm;yg0ifvmrIrSm wdk;wufvm onf[kqdkEdkifonf/

Former US Secretary of the Treasury and Harvard University’s Lawrence Summers delivers remarks at the National Associa-tion for Business Economics Policy Conference in Arlington, Virginia.

Gar

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has diminished returns in the economy and there are con-cerns about the way the impact of low interest rates is being transmitted through the econo-my, Summers said.

He added that the US stock market, which rose sharply last

year, did not look extremely expensive but was also not out-standingly cheap.

It’s probably a relatively good time to buy US real estate as the market has turned the corner and growing, Summers said.

Reuters


mmbiztoday.comINVESTMENT & FINANCE 18

Five Myanmar-based civil society organisations will soon begin lending more

than $3 million to farmers and women in rural and isolated communities, US-based micro-

LIFT, a multi-donor fund managed by the United Nations

-

the initiative, while the training and counsel for the project is provided by Pact Global Micro-

-

“This may be the largest --

tions to date in Myanmar,” said Fahmid Bhuiya, PGMF’s chief

“We’re proud to be work-ing with our new partners and LIFT to improve the livelihoods and food security of as many as 45,000 families in places where there is no access to credit but an abundance of need for it.”

The project – Myanmar Ac-cess to Rural Credit (MARC) – will enable nine new micro-

about 27,000 agricultural loans and nearly 18,000 additional

women to let them expand non-agricultural activities or start new enterprises, Pact said. It will cover about 900 villages in the Delta and Dry Zone regions.

-ers formalised documents that allowed Pact to transfer funds to them. Next year, Pact will work with another four com-munity groups to qualify them

regulations, the lender said.“We know the hard-working

people in these communities well,” said U Cin Khan Lian, di-rector of Ar Yone Oo, Social De-velopment Association, an or-ganisation that has helped the poor in Myanmar’s Delta region since 2008 and one of dozens that applied to Pact to become

“We have always wanted to -

able loans that could be used to grow their incomes and better feed their families, but we never knew how or had the funds.”

For the past several months, PGMF worked with each of the lenders-to-be to improve their technical and organisational ca-

-vices, to ensure their sustain-

Phyu Thit Lwin

ability as they grow their loan portfolios, Pact said.

organisations who are no stran-gers to the communities they’ll be serving with microloans,” said MARC project manager U Kyi Thar.

“We’re all anxious to see them help transform the villages they are a part of.”

parent organisation, Pact, is the longest-serving international NGO still active in Myanmar to-

in the country in 1997. In 2012,

Pact formed PGMF to allow it to expand its services. Current-ly, the lender serves more than 500,000 borrowers – 99 per-cent of them women – through-out Myanmar.

The demand for small busi-ness loans in Myanmar is booming as the country’s econ-omy grows. The United Nations Development Program (UNDP) estimates only 10 percent of as much as a $600 million micro-

jrefrmEdkifiHtajcpdkuf t&yfbufvlrI tzGJUtpnf;aygif;ig;cku aus;vufa'o ESifh zGHUNzdK;wdk;wufrIydkif;wGif tm;enf;ae ao;aom vlrI0ef;usif&S d v,form;rsm; ESifhtrsKd;orD;rsm;tm;tar&duefa':vm 3 oef;ausmfudk acs;aiGcsay;&eftwGuf rMumcifaqmif&GufoGm;rnfjzpfaMumif; tar&dueftajcpdkuf tpdk;&r[kwfonfhtzGJUtpnf;jzpfaom Pact rS ajymMum;cJh onf/

LIFT onf ukvor*¾½Hk;rS pDrHcefYcGJ aom &efyHkaiGtpDtpOfwpf&yfjzpfNyD; ueOD;vkyfief;aqmif&GufrIrsm;twGuf b@ma&;axmufyH hrIudk jyKvkyfay;NyD; jrefrmEdkifiH\tBuD;qHk;tusKd;tjrwfr,l aom aiGacs;tzGJUtpnf;jzpfonfh Pact

rS vdktyfaom oifwef;ay;rIrsm;ESifh tBuHay;ajz&Sif;rIrsm;udk axmufyHhay; aMumif; od&onf/

þtpDtpOfonf jynfwGif;rStusKd; tjrwfr,laom tzG J Utpnf;r sm;\ tBuD;rm;qHk;acs;aiGtpDtpOfwpf&yfjzpfvmrnfjzpfaMumif; PGMF \ tBuD; tuJwpfOD;jzpfol Fahmid Bhuiya u ajymMum;cJhonf/

vlaerIb0rsm;tqifhjrifhwdk;wufvm&ef? pm;eyf&du©mzlvkHrIwdkYtwGuf yl;aygif; yg0ifaqmif&Gufoltopfrsm;ESif h yl;aygif; aqmif&Guf&onfhtwGuf 0rf;ajrmuf

*kPf,laMumif;? acs;aiGvdktyfaeaom tdrfaxmifpkaygif; 45000 txd&SdaeNyD;

,if;acs;aiGtpDtpOfrSm Myanmar Access to Rural Credit (MARC) jzpfNyD; tao;pm;aiGacs;vkyfief;tzGJU tpnf;topf 9 cktm; pdkufysKd;a&;acs;aiGcsay;EdkifrIta&twGufaygif; 27000 ckESifh trsKd;orD;rsm;twGuf aemufxyf acs;aiGta&twGufaygif; 18000 ck txdudk csay;Edkifrnfjzpfovdk trsKd;orD; rsm;taejzifh vkyfief;topfrsm;udk pwif vkyfudkifvmEdkifaprnfjzpfonf/

tqdkygacs;aiGtpDtpOfonf jrpf0uRef; ay:ESifh jrefrmEdkifiHtv,fydkif;a'orsm; &Sd &Gmaygif; 900 eD;yg;tm; acs;aiGrsm; csay;Edkifrnfjzpfonf/ 'DZifbmv 24 &ufaeYwGif jynfwGif;acs;aiGvkyfief;opf ig;ckrS ESpfckonf (MARC) rS aiGaMu;axmufyHhulnDrIrsm;udk vTJajymif;ay;Edkif&eftwGuf w&m;0ifoabmwlnDcsuf rsm;udk jyKvkyfEdkifcJhNyD; vmrnfhESpfwGif vnf; Pact rS aemufxyft&yfbuf vlrItzGJUtpnf;aygif; av; cktm; tao; pm;acs;aiGvkyfief;rsm;tjzpf aqmif&Guf Edkif&eftwGuf BudK;yrf;vkyfaqmifoGm; rnfjzpfaMumif; od&onf/

vlrIzGHUNzdK;wdk;wufa&;tzGJUtpnf;jzpfaom tm½kPfOD;tzGJU\ 'g½dkufwmjzpfol Cin Khan Lian u rdrdwdkYtaejzifh vlrI0ef;usifrSacs;aiGvdktyfvsuf&Sdaom olrsm;tm; aumif;rGefoifhavsmfaom

wdkY\0ifaiGwdk;wufvm&efESifh rdom;pkrsm;twGuf pm;eyf&du©mzlvHkrIwdkYudk ydkrdkzefwD; ay;vmEdkifjzpfaMumif; ajymMum;cJhonf/

acs;aiGvkyfief;rsm;udk taumif;qHk; xda&mufpGm vkyfaqmifEdkif&ef vGefcJ haomvrsm;u PGMF onf aiGacs;vkyfief; rsm;tm; enf;ynmESifh tzGJUtpnf;qdkif &m pGrf;aqmif&nfrsm;tm; wdk;wufvm ap&eftwGuf aqmif&GufcJhaMumif; Pact rS ajymMum;cJhonf/

,cktzGJUtpnf; ig; ckonf vlxkESifh rpdrf;aom cdkifrmonfhtzGJUtpnf;rsm; jzpfMuNyD; acs;aiGvkyfief;rsm;tjzpfaqmif&GufoGm;rnfjzpfaMumif; MARC \ pDrHudef;refae*smjzpfol OD;Munfomu ajymMum;cJhonf/

,ckuJhodkY acs;aiGtpDtpOfaumif; rsm;aMumifhoifhwifhrQwaumif;rGefaom acs ;ai Gv d kty fvQuf& S daomolr sm ; twGufrsm;pGmtaxmuftuljzpfap rnfjzpfovdk vlaerIb0tqifajy acsmarGUvma&;ESifh pm;eyf&du©mzlvkHrIwdkY twGufvnf;,ckacs;aiGtpDtpOfaumif;rsm;ursm;pGmtultnDay;Edkifvdrfhrnf [kod&onf/

project.Fund Director Andrew Kirk-

wood said: “We have an oppor-tunity for Myanmar-based or-ganisations to help Myanmar’s rural poor help themselves and enjoy a brighter future.”

Administered by the United -

ject Services, LIFT was estab-lished in Myanmar in 2009 by donors that include Australia, Denmark, the European Union, France, the Netherlands, Swe-den, New Zealand, Switzerland, the United Kingdom and the United States of America.

With access to credit, farm-ers will be able to buy higher quality seeds, fertilisers and additional labour that improve harvests and increase incomes, Pact said. Small loans on aver-

age of $100 help women either expand or start microbusiness-es preparing or selling food-

“We can help teach farmers -

tices to increase their yields, but unless they have capital to

“We have always wanted to help them with small, affordable loans that could

be used to grow their incomes and better feed their families, but we nev-

er knew how or had the funds.”

invest in the cultivation of their plants, they can’t take advan-tage of what they’ve learned,” said U Maung Maung Soe Tint of Border Areas Development

local lenders.

Myanmar Summary

Fah

mid

Bhu

iya



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Myanmar Summary

Asubsidiary of Japanese conglomerate Marubeni Corp will form a joint

Kyaw Min

*syefEdkifiH\ pD;yGm;a&;tiftm;pkBuD;jzpf onfh rm½lbDeDaumfydka&;&Sif;\ &S,f,m 25 &mcdkifEIef;ydkifqdkifNyD; Oji Holdings Corp rS &S,f,m 75 &mcdkifEIef;ydkifqdkif aomvkyfief;cGJjzpfonfh rav;&Sm;tajc pdkuf GS Paper & Packaging Sdn Bhd (GSPP) onf r*Fvm'HkpufrINrdKUawmf wGif uwfxlAl; vkyfief;rsm;udk aqmif&Guf&eftwGuf tusKd;wlvkyfief;wpfckudk zGJUpnf;wnfaxmifoGm;rnfjzpfaMumif;od&onf/

tqdkygvkyfief;onf jynfwGif;vkyfief; wpfckESifhyl;aygif;í &if;ESD;jr§KyfESHoGm;rnf jzpfaMumif;od&um vkyfief;aqmif&GufrI rsm;tm; 2015 ckESpf yxroHk;vywf umv ({NyD-ZGef) twGif; pwifaqmif &GufoGm;rnf[k rm½lbDeDrS ajymMum;cJh onf/

venture to start a corrugated container business in Yangon’s Mingaladon Industrial Park, the company said.

Malaysia-based GS Paper &

Packaging Sdn Bhd (GSPP), where Marubeni holds 25 per-cent and Oji Holdings Corp 75 percent stake, will invest as a major stakeholder along with a

local partner to form the Myanmar JV.

Operation will start in

June) of 2015, Marubeni said.

The new entity, Oji GS Packaging (Yangon) Co Ltd, will manufacture and sell corrugated con-tainer products such as sheet and box.

panies including Japa-nese companies have been extending their businesses to Myanmar, a country with inexpen-sive labour and abun-dant natural resources. The domestic demand is also expected to surge as a result of the recent eco-nomic reforms.

Marubeni said it fore-casts an increase in de-mand for high-quality

corrugated container products. “The new joint venture compa-ny will incorporate its demand by utilising well-equipped and modernised converting facilities in Myanmar ahead of its com-

petitors,” the company said.Marubeni opened a branch

has invested in infrastructure development such as power plants. The company opened a

January 2012.

A corrugated container plant in Japan.

Sup

plie

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Myanmar Summary

Myanmar Summary

Thailand is calling on My-anmar to use the Thai baht as a medium of ex-

change in the country’s domes-tic trade in a bid to boost trade and investment between both

Shein Thu Aung countries.The move came after the con-

clusion of the 7th Meeting of Thailand-Myanmar Joint Com-mission for Bilateral Coopera-tion held in Nay Pyi Taw last November, the National News Bureau of Thailand (NNT) said.

Myanmar said it will decide on the matter soon as its national bank is currently undergoing a new administration transition.

Both countries had been en-joying steady growth in trade and investment, with Thailand pushing for the development

The Myanmar Customs Department under the Ministry of Finance and

Japan International Coopera-tion Agency (JICA) are going to implement a technical coop-eration project in a bid to mod-ernise Myanmar’s customs and introduce an automated cargo clearance system.

With an expected rise in trade volume in near future, Myan-mar Customs is trying to up-grade its decades-old customs clearance procedures and busi-ness process by introducing an automated cargo clearance and risk management system.

of Myanmar Customs will gain knowledge and skills to oper-ate, maintain and manage My-anmar Automated Cargo Clear-ance System (MACCS/MCIS), JICA said in a statement.

JICA will dispatch three long-term experts and short term experts as needed, and the du-ration of the project will be four years.

JICA said necessary laws and regulations as well as security policy and mechanism for prop-er operation of MCIS will also be developed. In addition, ca-

customs valuation, post clear-

Kyaw Min

jrefrmEdkifiHESif h jynfwGif;ukefoG,frIrsm; jyKvkyf&mwGif Mum;cHaiGaMu;vJvS,frI pepftjzpf xdkif;bwfaiGtm; toHk;jyK oGm;&ef xdkif;EdkifiHu jrefrmEdkifiHtm; wdkufwGef;cJhNyD; ESpfEdkifiHtMum; ukefoG,frI ESifh &if;ESD;jr§KyfESHrIrsm; wdk;wufvmap&eftwGufjzpfaMumif; od&onf/

vGefcJhonfhESpf Edk0ifbmvwGif aejynf awmfü jyKvkyfusif;ycJhaom ckepfBudrf ajrmuf ESpfEdkifiHyl;aygif;aqmif&GufrIa&; &m xdkif;-jrefrmyl;aygif;aumfr&SifawGUqHk aqG;aEG;yGJtNyD;ü ,ckuJhodk Y xdkif;EdkifiHu xdkif;bwfaiGtm; jynfwGif;ukefoG,frIudpö&yfrsm;wGif toHk;jyKoGm;&ef wdkufwGef;ajymMum;jcif;jzpfaMumif; National News Bureau of Thailand (NNT) rS ajymMum;cJhonf/

jrefrmEdkifiHtaejzifh ,cktcg A[dkbPf jyKjyifajymif;vJrIrsm;udk aqmif&Gufae onfhtwGuf tqdkygudpö&yfESif hywfouf í rMumcifqHk;jzwfcsufrsm;udk jyKvkyf oGm;rnfjzpfaMumif; od&onf/ jrefrm EdkifiHESifhxdkif;EdkifiHwdkYonf ESpfEdkifiHtMum;ukefoG,frIESif h &if;ESD;jr§KyfESHrIrsm; wdk;wuf vmNyD; xdkif;EdkifiHrSvnf; ukefoG,frIESifh qufpyfonfh vHIUaqmfrItpDtpOfrsm; zGHUNzdK;wdk;wuf&eftwGuf tifwdkuftm; wdkuf vkyfaqmifaeNyD; 2015 ckESpfwGif tenf;qHk; xdkif;bwfaiG 12 bDvD,H (tar&duefa':vm 371.56 rDvD,H)txd ukefoG,frIwefzdk;&Sdvm&ef &nf&G,f xm;aMumif; od&onf/

ance audit and customs risk management will be strength-ened with the MACCS, it added.

Both parties signed Record of Discussions (R/D) on the pro-ject – Capacity Development for National Single Window and Customs Modernization and Introducing Automated Cargo Clearance System – at

in Yangon. The agreement was signed by U Htun Thein, direc-tor general of Customs Depart-ment, and Masahiko Tanaka, chief representative of JICA

b@ma&;0efBuD;Xmevufatmuf&Sd taumufcGefOD;pD;XmeESifh*syeftjynfjynf qdkif&myl;aygif;aqmif&Gufa&;at*sifpDwdkYonf enf;ynmyl;aygif;aqmif&GufrIpDrH udef;wpfckudk taumiftxnfazmfaqmif&GufoGm;rnfjzpfNyD; jrefrmEdkifiH\taumuf c Ge fpep ftm; tqif h jr§ifhwif&efESifh automated cargo clearance pepf wpfckudk rdwfqufay;oGm;&eftwGuf &nf&G,faMumif; od&onf/

vmrnfhtem*wfwGif ukefoG,frIyrmPzGHUNzdK;wdk;wufvm&ef arQmfrSef;xm;onfhtwGuf jrefrmhtaumufcGefOD;pD;Xmetae

Mum&SnfaeNyD jzpfaom taumufcGef vkyfief;pOfrsm;tm; tqifhjr§ifhwif&ef

BudK;yrf;aeNyD; ydkrdkaumif;rGefonfhpepfwpfcktm; tpm;xdk;toHk;jyKoGm;rnfjzpf onf/

tqdkygtpDtpOftm; jrefrmhtaumuf cGefOD;pD;XmerSwm0ef&Sdolrsm;taejzifh Myanmar Automated Cargo

Clearance System (MACCS/MCIS) pepfudk aqmif&Gufxdef;odrf;rIrsm; jyKvkyfoGm;&eftwGuf vdktyfaom todynmESif hpGrf;&nfrsm;udk &&SdoGm;aprnf[kvnf; *syeftjynfjynfqdkif&myl;aygif;aqmif&Gufa&;at*sifpDrSqdkonf/ *syeftjynfjynf

qdkif&myl;aygif;aqmif&Gufa&;at*sifpDrS umvwdkESif h umv&SnfESpfckpvHk;twGuf vdktyfaom uRrf;usifynm&Sifrsm;tm;apvTwfay;oGm;rnfjzpfum ,if;tpD tpOfonfav;ESpfwmMumjrif hrnf[kvnf; od&onf/

Customs will receive a Japanese grant to streamline its procedures and introduce an automated cargo clearance system.

Sherpa H

ossainy

of a trade-related stimulus pro-gramme aimed at generating at least THB12 billion ($371.56 million) in trade value by 2015.

Thailand has reiterated its support for the establishment of the Dawei special economic zone which it believes would be able to create investor con-

Thailand has also urged My-anmar to give its support to the ACMECS Single Visa (ASV) to attract more visitors from other countries.

Myanmar on her part is seek-ing assistance from Thailand in the areas of agricultural tech-nology and labour cooperation.

Reu

ters



Myanmar Summary

David Mayes

It is very easy to be-come confused by the abundance of seem-

ingly investment related material available on the internet today. Making sense of it all is sometimes enough to make even an investment profession-al’s head spin. Generally speaking there are two types of activities that fall under the broad umbrella of what most people sim-ply think of as “investing”, and understanding the

much of the information out there. One activity is actually investing, and the other is speculating. I have mentioned this dis-

thought it might be good

in a little more depth.I just recently watched

the movie “The Wolf of Wall Street”, and the way the main character got

made my stomach turn. Those in our industry are

-duciary duty to act for our clients as we would for ourselves. The sad truth unfortunately is that in reality there are many out there in the advice industry who probably have similar moral char-acteristics as those in the

-tims had been educated enough to understand the

-vesting and speculating, any damage done would

-cant to the victims over-

basically Leonardo’s char-acter scams people into making extremely specu-lative bets so he can earn a very high commission. He gets very rich while his clients all lose money.

-tween investing and spec-ulating is that speculating is generally considered to be an activity that you do with money that you can

-

ty. Investing on the other hand is an activity that is intended to grow over a certain timeframe, de-spite that fact that it may go through extended peri-ods of drawdown. For in-stance, even though cer-tain asset classes such as emerging market equities are very volatile and may

one given year, a diversi-

be expected to grow over a long enough timeframe. A speculative holding, on the other hand, may in fact go down to zero for-ever.

Knowing which types of assets are speculative and how much of your net worth is generally considered a good idea to put into speculative posi-tions can help you avoid much of the garbage that is out there and help you know which “news” or opinion is not really of interest to the matters of your investment portfo-lio. Investing in individu-al technology and up and coming stocks, start-ups, IPOs, pink sheets, private equity, naked options, fu-tures, currencies, and art-work are all examples of speculative activities. Fol-lowing short term trading strategies yourself is also a speculative strategy.

Indexing across sec-tors and countries or re-gions with the intent to hold long term is more along the lines of what you should be thinking of as investing. Investing with some fund manag-ers who have successfully developed a long term track with some of the speculative strategies I mentioned above, as long as it line with an over-

approach would also be considered investing. You can also of course assem-

of high quality companies yourself following fun-damental valuation tech-niques and even include a small portion of your investment portfolio in speculative positions. It needs to be a very small percent, I like to recom-mend keeping it under 10 percent. The main key to investing is diversifying across a broad spread of securities, asset classes,

and strategies.There is some overlap

where the line between investing and speculating gets blurred, for instance going heavy into a sector such as mining or a coun-try such as Russia, as you may have read about in my recent articles. These should be viewed as in-vestments, but as a part

portfolio. For instance maybe you become over weighted in one of these to 15-20 percent of the equity portion of a port-folio, where equity makes up 40 percent of the over-all portfolio, just to give an example. For those of you who want to watch a

-ure on Wall Street that I have always used a moti-vational tool for myself, and portrays a character in stark contrast to the one recently played by Leonardo Dicaprio, check out “The Pursuit of Hap-piness” with Will Smith. I hope the reality is that there are actually more of these types of charac-ters out there, but under-standing the above should protect you from making a large mistake if you run across someone who isn’t.

David Mayes MBA provides wealth man-agement services to ex-patriates throughout Southeast Asia, focusing on UK Pension Trans-fers. He can be reached at [email protected]. Faramond UK is regulated by the FCA and

provides advice on pen-sions and taxation.

The main difference between investing and speculating is that speculating is generally considered to be an activity that you do with money that you can afford to lose in its entirety.

Lucas Jackson/Reuters

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odjrifvmEdkifonf/ tqdkyg½kyf&Sif um;wGif vD,dkem'dk\Zmwfaumif p½dkufonf vlrsm;tm; tvGef trif; pGefYpm;&if;ESD;rI jyKvkyf&eftwGuf tm;ay;rIjyKvkyfaomyHkpHrsKd;jzpfNyD; xdkodkYjyKvkyfjcif;aMumifh

onfudk awGUjrifEdkifonf/ xdkuJhodkYaomtcsufrsm;aMumifhyif &if;ESD; jr§KyfESHolrsm;ESifh vkyfief;&Sifrsm; onf tBuHay;rsm;udk vdktyfjcif; yifjzpfonf/&if;ESD;jr§KyfESHrIumv twGif; rdrd&if;ESD;jr§KyfESHxm;onfh vkyfief;\ twuftusoabm obm0udk em;vnfxm;&rnfyif jzpfovdk zGHUNzdK;qJaps;uGufrsm;\ &S,f,mrsm;yifvQif rwnfrNidrfrI rsm;&SdaeNyD; usqif;EdkifrIrsm;&Sdae onf/umvwdkpGefYpm;&ifqdkifrIrsm; udjyKvkyfrnfqdkyguvnf;rdrdwdkY ydkifqdkifrI\ 10 yHk 1 yHkudkom &if;ESD;jr§KyfESHrIjyK&efjzpfonf/



Myanmar Summary

ing peace economy in Myan-mar, as explored by the author in previous work at the Institute for Security and Development Policy (ISDP), also seems to be present in negotiations and

projects.For instance, a portion of the

area surrounding the proposed Hutgyi dam site had long been under the control of the Demo-cratic Karen Benevolent Army Brigade 5 (DKBA-5; a splinter of the DKBA, an armed ethnic group). In April 2013, govern-ment forces clashed with the DKBA close to the dam site as the latter refused to leave their nearby base.

The Burma Rivers Network, an alliance of several local en-vironmental activist groups, believe that up to 50 clashes between military forces and armed ethnic groups have oc-curred in connection with on-going hydropower projects in the last three years. While this cannot be independently veri-

that the ongoing peace process needs to address land rights and other issues that are directly as-sociated with dam construction. As such, dam construction re-mains a bartering chip for eth-nic groups, armed or otherwise, to use at the negotiating table.

Land acquisition has been a key driver for protests in dam construction across the coun-try. This was most notable in the case of the Myitsone dam,

a Chinese-backed $3.6-billion venture that was suspended by Nay Pyi Taw much to the cha-grin of Beijing. The protests against the Myitsone dam, situ-ated in northern Myanmar’s Kachin state, have received the most attention in recent years.

Dam construction was blamed for the breakdown of the 17-

Independence Army in mid-2011. Clashes between the Tat-madaw and the KIA, who were concerned over the expansion of the dam, have led to a rising death toll. As construction re-mains suspended at the Myit-sone dam pending further eval-uation and negotiation, protests and clashes at other dam sites have also generated national

and international media atten-tion.

In addition to land acquisi-tion, many of the local protests focus on the consequences for people’s livelihoods and the environmental impacts of the hydropower projects. Reports about the construction of Kun-long dam, for instance, men-tion that an area with 64 houses and 300 acres of agricultural land will probably have to be

land and house owners will be compensated adequately for the expected losses.

Recent reports on the Upper Paunglaung dam, situated 50 kilometres southeast of Nay Pyi Taw, indicate that locals have allegedly not been informed about whether their village

-ies by the Electricity Generating Authority of Thailand (EGAT), involved in at least two large-

-

while another six villages need to be relocated. Environmen-tal rights organisations suggest that 30,000 people have been forced to relocate. Additionally, complaints about inadequate compensation have frequently

been made public.As well as issues with local

residents, agreements between all riparian states – China, Myanmar and Thailand – are needed. Changes to upstream river systems can have sig-

users. A formal multilateral agreement would help the sus-tainable management of the river system. Such agreements can be a vital institutional step towards more integrative wa-ter management and averting transboundary water disputes.

the development of hydropower

and environmental assessments and community and regional engagement during the plan-ning stages. The harnessing of Myanmar’s hydropower poten-tial can and should be looked at as an opportunity for Nay Pyi Taw and traditionally opposed ethnic groups to work together

-lems are likely, they should be handled through dialogue and negotiation aimed at sustain-able and mutually acceptable development.

Elliot Brennan is a Non-Resi-dent Research Fellow at the In-

stitute for Security and Devel-opment Policy (Sweden) and a Non-Resident Fellow at the

-tegic and International Studies (USA). His research focuses on

-source security. He is currently based in Southeast Asia. Stefan Döring is a former intern at ISDP and is pursuing a Master

at Uppsala University, Swe-den. The article was originally published as a Focus Asia pa-per with the ISDP and has been republished with the authors’ permission.

The Taiwan Trade Centre (TTC) in Yangon is look-ing to explore business

opportunities in Myanmar and boost bilateral trade between the two countries, the trade promotion organisation said.

The trade agency organised a business matching for a delega-tion comprising 30 Taiwanese suppliers of various industries last week, which was attended by more than 200 companies.

business events in Myanmar

last year, while it expects to hold more than ten events in 2014, including the “Auto Expo”, also called EMMA show, in July.

“Since the Myanmar market opening, the Taiwanese enter-prises are looking at present-ing Taiwan’s best products and services, and investments in Myanmar,” the agency said in a statement.

One of the most prominent in-vestment projects conducted by Taiwanese enterprises in Myan-mar is the fdimensional drying and storage systems at 107 mile on the way to Nay Pyi Taw.

Nwe Zin

Taiwanese entrepreneurs are looking into investing in tex-

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tiles, electronics and other pro-jects in Myanmar, TTC said.

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vmrnfh ESpf 20 twGif; pGrf;tif vdktyfrIrSmvnf; 3.1 &mcdkifEIef;jrif hwuf vmrnf[k tm&SzGHUNzdK;wdk;wufa&;bPf u cefYrSef;xm;NyD; wpfcsdefwnf;rSmyif vQyfppf"mwftm; xkwfvkyfrIpkpkaygif;\ 20 &mcdkifEIef;onf a&tm;vQyfppfrS&&Sd jcif;jzpfvdrfhrnf[k od&onf/a&tm;vQyf ppfpDrHudef;opftopfrsm;rS xGuf&Sdaom vQyfppf"mwftm;rsm;udk w½kwfEdkifiHESifhxdkif;EdkifiHodkY wifydkYoGm;&ef pDpOfxm;NyD; oHvGifjrpfay:wGif wnfaqmuf&ef pDpOf xm;onfh a&tm;vQyfppfqnfpDrHudef; rsm;rS xkwfvkyf&&SdrnfhvQyfppf"mwftm; yrmP\ 25 &mcdkifEIef;udkom jynfwGif; twGuf toHk;jyK&ef pDpOfxm;onf/

"Up to 50 clashes between military forces and armed ethnic groups have occurred in connection with

ongoing hydropower projects in the last three years."

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mmbiztoday.comPROPERTY & REAL ESTATE 23

Myanmar Summary

Chulapong Yukate

Economists believe land is one of the most valuable as-

sets on earth and that’s why we call land the “real” estate. When it comes to the issue of understand-ing land titles in a for-eign country, especially for businesspeople who invest there, it can be dif-

egories. Land title in My-anmar is no exception.

There are 22 laws in My-anmar which govern the issues of land, land admin-istration and land own-ership, ranging from the provisions under the Con-stitution of the Republic of Union of Myanmar (2008) to the Lower Burma Land Revenue Manual issued in 1876. Therefore refer-ring to or even outlining such laws in this article is impossible. From the busi-ness point of view, howev-er, following quick visit to the nature and legal status

Myanmar can be useful.

Freehold LandFreehold land can be

interpreted in Myanmar as ancestor land and it is

transferable and can only be taken back by the gov-ernment for the state’s in-terest and in accordance with the Land Acquisition Act 1894. Freehold land exists mostly in big cities such as Yangon and Man-dalay and with the very few instances in small town and villages.

Grant LandGrant land is owned by

the government. Land at the disposal of the govern-ment may be disposed of by grant or lease to any en-tity for a stipulated period described in the document known in the Myanmar language as “Ga-Yan”. The lease period can range up to 90 years and it is trans-ferable. For Yangon, grants are given by the Yangon City Development Com-mittee (YCDC) and for Mandalay by the Mandalay City Development Com-mittee (MCDC). Both cit-ies have their own Devel-opment Committee Laws. For other cities or towns, grants are given by the concerned districts general administration depart-ments as they fall within the broader application of the development commit-tee laws which apply to all part of the country except Yangon and Mandalay.

Agricultural LandAgricultural land, under

the Disposal of Tenancies Law 1963, is the land be-ing utilised or kept in pos-

session for agricultural purpose. At present, all agricultural land is under the exclusive state-owner-ship and thus all agricul-tural land may be leased to farmers who automati-cally become tenants to the land. Under the above law, the government may stipulate the conditions to which the tenants must adhere to, failure of which may result in the termina-tion of the tenancy, or for serious breach like selling or transferring the leased agricultural land, shall be subject to the prosecu-tion. The agricultural land is not transferable.

Forest LandForest land is declared

and administrated by the Ministry of Forest under the Forest Law. Permis-sion is required from both the Ministry and the

Cabinet to extract timber,

charcoal. Approval is also required of government enterprises involved with gem mining or oil explo-ration/activities in the forest land.

Culturable LandThe government may

grant the rights to cul-tivate/utilise to joint-ventures, state owned enterprises or other or-ganisations and private in-dividuals on a commercial basis such as for agricul-ture or livestock breeding. The governing authority to grant the rights is the Central Committee for the Management of Culturable Land, Fallow Land and Waste Land.

Town LandTown land may be clas-

Freehold Land or Grant Land but with the titled document called “La Na 39” issued by the State/Division Peace and De-velopment Council in the relevant area under the Land Nationalization Act 1953. The Town Land is

Freehold Land and the Grant Land. In some small towns that are expanding, many plots of land trans-formed to La Na 39 type land. This La Na 39 type land could also eventually became the Grant Land such as the town of Dagon Myothit in the outskirt of Yangon were initially the agricultural land but its status was changed to La Na 39 type land. The La Na 39 type land is trans-ferable.

land titles are typically involved in some forms of business which the foreign investors will be likely to come across. The other types of land titles are Garden Land, Graz-ing Land, Village Land, the Cantonments and the Monastery, which, except for the Village Land, are not transferable.

Ownership by Non-Citizen

Foreigners are not al-lowed to own or transfer land and the only transfer is allowed by way of lease which however shall not exceed one year, except in the case of MIC-approved

A plot of land in Myanmar’s capital Nay Pyi Taw.

Sherpa H

ossainy

company, whose lease pe-riod may be granted to 30 years. There is however no legal provision which bars foreigners from hav-ing access to rights for Ag-ricultural Land or Cultur-able Land.

Chulapong Yukate is the Chairman of Myan-mar Advisory Limited and can be contacted at [email protected].

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mmbiztoday.com

24

Myanmar Summary

PROPERTY & REAL ESTATE

SGX-listed trading compa-ny Intraco Ltd has estab-lished a joint venture to

get into crane rental and other related business activities in Myanmar and tap the Southeast Asian country’s rising infra-

The JV entity, Tat Hong In-traco Heavy Equipment Co Ltd, established in August last year between Intraco, Singapore-based crane company Tat Hong Holdings Ltd and Myanmar ty-coon Aung Moe Kyaw, will have a paid-up capital of $150,000 comprising 150,000 shares.

Aung Moe Kyaw is a Myanmar businessman with diverse busi-ness interests. He is best known as Chairman and Managing Di-rector of International Bever-ages Trading Company Group, the leading alcoholic beverage producer and distributor in My-anmar.

Intraco Managing Director and CEO Foo Der Rong said: “We believe the prospects for Tat Hong Intraco Heavy Equip-ment Co Ltd are promising as Myanmar is opening up and the

Kyaw Min

country has many infrastruc-tural needs with huge growth potential.”

The transaction is funded through internal resources and is not expected to have any ma-terial impact on earnings per share or net tangible assets per

-cial year ending December, In-

traco said.Incorporated in 1968, Intraco

sourced raw materials, com-modities and manufactured goods to support Singapore’s early industrialisation pro-gramme. Intraco’s network spans across ASEAN and China.

Tat Hong is the largest crane rental company in the Asia-

-gregate tonnage, according to International Cranes, IC50 Ranking in June last year. It has four key businesses –distribu-tion of cranes and heavy equip-ment, rental of crawler and mobile cranes, rental of tower cranes and general equipment rental.

Myanmar Summary

Major builders and engi-

Korea are seeking to win more mega construction and plant project orders in My-anmar, with an eye on Malaysia also.

The South Korean Ministry of Land, Infrastructure and Trans-port said that it has dispatched a special team of government

Seoung-hwan to support South Korean builders.

The team was joined by repre-sentatives from over 10 private builders, including Hyundai Engineering & Construction, Samsung C&T, Daelim Inustri-al and Ssangyong E&C as well as the state-run Korea Water Resources Corporation, Korea Expressway Corporation and Korea Rail Network Authority.

week, the delegation met gov--

mar and Malaysia to discuss plans to develop social infra-structure such as high-speed

plants and water management facilities, according to the min-

Yi Whan-woo istry.The delegation visited Myan-

mar to draw support from the Myanmar government for Ko-rean builders to participate in a management project for the Irrawaddy River. The 2,170-km river is the largest in the coun-try and also the most important commercial waterway.

The South Korean ministry said the development projects will be put up for bidding in the

-est.

“Asia has emerged as Korea’s key market for construction and plant businesses,” said Park Byung-seok, a director at the ministry’s overseas construc-tion support division.

“In particular, a large number of project bids which we have recently won came from South-east Asia, making it strategical-ly important.”

-struction orders worth $65 billion won abroad last year, according to Park. Some $3.5 billion of the total amount comes from Malaysia alone, he said.

“The amount of bids we won in Malaysia was the sixth larg-

est around the world in 2013,” he said.

Suh attended ministerial-level talks with his Malaysia counter-part to discuss ways of cooper-ating to building a $12 billion-worth railway network for a bullet train connecting Malay-sia and Singapore.

Other projects that were dis-cussed include construction of $800-million Mass Rapid

Transit system, a railroad net-work in and around Kuala

-ral gas plant and an $800-mil-lion power plant in Pengerang.

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South Korea is seeking to win more mega construction projects in Myanmar.

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mmbiztoday.comAUTOMOBILE 25

Myanmar Summary

Sales, service and spare parts facility to open in April

A man walks past a billboard advertising Jaguar in New Delhi.

Man

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Phyu Thit Lwin

British automaker Jaguar Land Rover said it plans to tap the rapidly growing

automotive market of Myanmar and has appointed Capital Au-tomotive Ltd as its new Jaguar Land Rover dealer in the region.

Jaguar said Capital Automo-tive Ltd is completing a new dealership in Yangon, the coun-try’s commercial centre and most populous city, which will

and spare parts solution. The facility will open in April

and will bring Jaguar and Land Rover products to Myanmar.

U Khin Tun, managing direc-tor of Capital Automotive Ltd, which is supported by Automo-tive Service Ltd, a 50/50 Joint Venture between Thailand-based Clipper Holdings (RMA

Group) and Capital Automotive Ltd, said the appointment dem-onstrates Jaguar Land Rover’s

“Many customers who have been visiting have expressed much interest in the new Jaguar and Land Rover range, particu-larly the Jaguar XF and Range Rover Evoque,” he said.

“I am sure we will soon see many of these new Land Rover and Jaguar models on the road

that we will also be able to grow the Jaguar Land Rover business here.”

Andrew Patrick, British Am-bassador to Myanmar, said he was delighted that Jaguar Land Rover had decided to expand their global operations to the Southeast Asian nation.

-ple of British engineering and manufacturing at its very best; the produce top quality prod-ucts, employ and train local

people to interna-tional standards and deliver the highest levels of customer service.

“I am looking forward to seeing this famous British brand in this coun-try.”

While it may

that Jaguar will be represented in Myanmar, Land Rovers have long been present on

Land Rovers to explore Myanmar were driven by stu-dents from Oxford and Cambridge Universities back in 1955.

The Oxford and Cambridge Far Eastern Expedi-tion was a journey undertaken by six university students in two Land Rover Series I Station Wagons from London to Sin-gapore and included a journey along the Ledo Road from In-dia into Myanmar, then known as Burma. Primarily sponsored by Land Rover who provided the vehicles, the expedition was

and the footage broadcast in the mid-50s on the BBC.

Jaguar Land Rover employs around 29,000 people globally and sells vehicles in over 170 countries around the world, with 80 percent of production exported. In the 12 months to 31 March 2013, Jaguar Land

tax of £1.675 billion ($2.8 bil-lion) with revenues of £15.8 bil-lion ($26.4 billion).

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Hyunjoo Jin

South Korea’s Hyundai Mo-tor Co dialled back on the edgier designs that helped

years ago, launching last week a toned-down, angular version of its popular Sonata sedan to ap-peal to conservative drivers at home.

largest car maker with its Kia

size sedan since 2009 to help reverse a slowdown in sales and revenue growth, as it battles competition from foreign rivals at home and a slide in reliability

rankings in the United States, its second-biggest market after China.

year-on-year fall in quarterly revenue in nearly three years in the fourth quarter of last year and forecast its global sales growth would slow to 4 percent in 2014 from 7 percent in 2013.

Automotive industry experts said the revamped Sonata looked more like the mid-sized Camry sedan by Hyundai’s Jap-anese rival Toyota Motor Corp. The car, which Hyundai has been making since 1985, will go on sale in March in South Korea and later in the United States.

“Hyundai has followed Camry

in adopting a bland design,” said a person who has close professional links with Hyundai and who declined to be named as he is not authorised to speak to the media.

“US consumers are now used to the Sonata’s distinctive styl-ing and it will be challenging for the new Sonata to stand out in the US market.”

acknowledge that the redesign could face hurdles in the United States. Design executive Juh Byung-chul told Reuters that US consumer tests showed the new design was “good enough” and “acceptable.”

The Sonata is Hyundai’s sec-

ond top seller after its Elantra model in the United States and Korea. The current model, with its distinctive curvy design, took the United States by storm

years ago, helping Hyundai to almost double sales to 230,605 in three years.

Sales of the current Sona-ta, however, fell in Korea to 89,400 in 2013 from a peak of 152,023 in 2010, a factor that prompted company chairman Chung Mong-koo and top man-agement to push for more con-servative redesign for the new model.

Reuters

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Myanmar Summary


mmbiztoday.com

26

Fligghhtss ffroom Yanggon (RGNN) to Bangkok ((BKK) Fligghhtss 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 AirlinesDD4231 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 MAIFD2752 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 AirAsia8M335 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 AirwaysTG304 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 AirwaysPG702 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 AirAsiaY5-237 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 AirwaysTG302 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 AirlinesPG703 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 AirAsia8M331 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 AirwaysFD2754 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 AirwaysPG704 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 AirlinesTG306 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

FFligghhtss ffroomm Yangoon (RGN)) to Chiaang Maii (CNX) FFligghhtss ffroomm 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 AirlinesMI509 1 6 RGN SIN 0:25 5;00 SilkAir SQ998 1 2 3 4 5 6 7 SIN RGN 7:55 9:20 Singapore Airline8M231 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 AsiaSQ997 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 SilkAir8M233 5 6 7 RGN SIN 13:45 18:15 MAI 8M235 5 6 7 SIN RGN 19:15 20:45 MAITR2827 1 6 7 RGN SIN 15:10 19:35 TigerAir TR2826 1 6 7 SIN RGN 13:00 14:30 TigerAirTR2827 2 3 4 5 RGN SIN 17:10 21:35 TigerAir TR2826 2 3 4 5 SIN RGN 15:00 16:30 TigerAirMI517 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 frroomm 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 AirAsia8M501 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 AirlinesMH741 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

Flligghhtss ffroomm Yangon (RGN) to Ho CChi Minhh (SGN) Flligghhtss ffroomm 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 AirlineBR288 2 5 6 RGN TPE 11:35 17:20 EVA Air BR287 2 5 6 TPE RGN 7:30 10:35 EVA Air

Flligghhtss ffroom Yanggon (RGNN) to Kunming(KMG) Flligghhtss 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 EasternMU2012 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)

Fligghhtss ffroom Yanggon (RGNN) to Naanning (NNG) Fligghhtss 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

FFligghhtss ffroomm Yangoon (RGN)) to Honng Kong (HKG) HHonngg KKoong (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

Flligghhtss ffroomm Yangon (RGN) to Guanng Zhouu (CAN) Flligghhtss ffroomm 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 AirlinesCZ3056 3 6 RGN CAN 11:20 15:50 China Southern Airline 8M712 2 4 7 CAN RGN 14:15 15:45 MAICZ3056 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 IndiaAI234 1 5 RGN CCU 13:40 16:55 Air India (via GAY) AI233 5 CCU RGN 13:30 18:00 Air India (via GAY)

Fligghhtss ffrom Yanngon (RGGN) to GGaya (GAAY) Fligghhtss 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 MAIAI234 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

FFligghhtss ffrom Yanngon (RGGN) to SSeoul (ICCN) FFligghhtss 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

Flligghhtss ffroomm Yangon (RGN) to Nay Pyi Taww (NYT) Flligghhtss ffroomm 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 CharterFMI-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 CharterFMI-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 CharterFMI-A1 6 RGN NYT 8:00 9:00 FMI Air Charter FMI-A2 6 NYT RGN 10:00 11:00 FMI Air CharterFMI-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 AirlinesYH 909 2 4 6 7 RGN MDY 6:30 8:10 Yangon Airways YH 910 1 3 MDY RGN 7:40 10:30 Yangon AirwaysYH 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 AirwaysYH 727 1 5 RGN MDY 11:15 13:25 Yangon Airways YH 728 1 5 MDY RGN 9:10 11:05 Yangon AirwaysYH 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 AirwaysW9 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 BaganK7 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 KBZYJ 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


mmbiztoday.comAUTOMOBILE 27

Myanmar Summary

Local automobile dealer Super Seven Stars (SSS) Co Ltd has started sell-

ing Korean-made SsangYong Motor Co’s cars at a discounted price in Myanmar, the company said.

Customers will be able to purchase SsangYong’s cars at a discount of up to K8.5 mil-lion ($8,500), given the pay-ment is settled in cash, SSS, SsangYong’s authorised dealer in Myanmar, said.

SsangYong’s Actyon Sports

Phyu Thit Lwin$35,000, while the original price of Actyon Sports is K43.4 million ($43,500).

Purchasers can also go for three types of instalment-based payment system: They can pay half of the car price and pay the rest over a period of 12 months without any interest; or, choose to pay 30 percent of the car’s price in cash and the rest through 24 months with no interest; or, pay K1.8 mil-lion (1,800) every month for 24 months without any interest.

“One year insurance for the

whole car will also be provided with the owner’s name,” SSS Director U Kyaw Thiha said. The cars are guaranteed for three years or 100,000 kilome-tres, he added.

Establsihed in 1954, SsangYong is the fourth largest South Korea-based automobile manufacturer.

In 1997, Daewoo Motors, now Tata Daewoo, bought a control-ling stake from the SsangYong

in 2000, because the conglom-

troubles. In late 2004, the Chi-

nese automobile manufacturer SAIC took a 51 percent stake of SsangYong Motor Co. In January 2009, after recording a $75.42 million loss due to glob-al economic crisis and shrink-ing demand, the company was put into receivership.

A 70 percent share of SsangYong was acquired by In-dian Mahindra & Mahindra Ltd for 522.5 billion won ($492.7 million) in February 2011, after being named the preferred bid-der in 2010 to acquire the bank-ruptcy-protected company.

SsangYong makes Chairman W model as its luxury brand, Rexton W, Kyron, Korando and Actyon as SUV, Actyon Sports as double cab and Rodius/Stavic as family car.

SsangYong’s production out-put in 2012 was 119,142 units, and the company garnered revenues of 2.874 trillion won ($2.7 billion) the same year. It’s main production base in South Korea, while it has factories in Ukraine and Russia.

Super Seven Stars Co became SsangYong’s exclusive dealer in Myanmar in 2012.

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Andreas Cremer

If Volkswagen wants to beat Toyota to the global autos

market cars.Yet two of its three volume

brands continue to cause head-aches, with Czech division Sko-da trailing ambitious sales tar-gets and Spanish carmaker Seat battling a decade of losses.

Lower down the chain, VW is also struggling to hit cost goals for its planned budget car for emerging markets, a VW execu-tive told Reuters.

To overcome its low-end woes, the German group is now striking out in a new direction to boost the image and appeal of Skoda and Seat, moving the former back upmarket while re-focusing Seat on Europe after a failed China export strategy.

The European auto slump caused Skoda deliveries to fall 2 percent last year to 921,000, well short of a 2018 goal of 1.5 million. Sales at Seat were up 11 percent at 355,000, but un-

derutilised capacity served to extend its long run of losses.

By contrast French carmak-er Renault’s budget models helped it to defy a weak Europe

emerging markets, with a par-ticularly strong showing from its no-frills Dacia brand.

Without a turnaround in mass markets for VW, Europe’s No.1 automotive group could strug-gle to surpass Toyota as the world’s biggest carmaker by 2018. In the nearer term, fail-ure to get to grips with the low-er-cost brands is likely to weigh on its share price.

“VW needs a compelling pres-ence in volume segments and emerging markets if they’re se-rious about clinching the top spot and retaining it,” said Ste-fan Bratzel, head of the Centre of Automotive Management think-tank near Cologne.

Regardless of whether it surpass-es Toyota, VW must succeed in low-er-cost categories to remain a force in a volume segment that brings the economies of scale required

Seat accounted for 13 percent of VW’s 9.7 million record sales last year. Reuters

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mmbiztoday.com

28IT & TELECOM

Group’s subsidiary receives permanent certificate of registration

Zayar Phyo

Singapore-based communi-cations network company Ntegrator Internation-

al Ltd has secured four ma-jor deals worth S$2.9 million ($2.28 million), for the supply of telecommunications equip-ment to major repeat customers

Three contracts, awarded by Myanmar’s Ministry of De-fence (MOD), are for the sup-ply of communications net-work equipment for expansion of network capacity, while the fourth contract, awarded by MRTV, Myanmar’s state-owned broadcast radio and television network, is for the supply of an FM transmitter.

Jimmy Chang, managing di-rector of Ntegrator, said, “Rid-ing on the momentum of our

January, we have secured an-other four contracts from two major customers in Myanmar.”

and reputation for delivering quality products and services on a timely basis “continue to earn it the support of MOD and MRTV – two repeat customers

who have been with us since we entered the Myanmar market a decade ago.”

All the four contracts are slat-ed for delivery in the current

to bring positive contributions -

ending December 31, Ntegrator said in a statement.

With these new contracts, Ntegrator has secured orders of over S$6.9 million ($5.42 mil-

FY2014.Industry watchers have fore-

cast foreign investments into Myanmar to reach over $100 billion over the next two dec-

directed at the infrastructure

and telecommunication sector, according to global research

To sink its roots deeper and to better capture new business opportunities in the country the company established a wholly-owned subsidiary, Ntegrator Myanmar, in August last year.

The company said this will af-ford the group “a greater degree of engagement with custom-ers” and a “faster response time through a dedicated sales and support team on the ground.”

Ntegrator Myanmar received

registration from the Myanmar Ministry of National Planning and Economic Development on February 21.

“We remain positive on op-

portunities in 2014 as the glob-al economic outlook continues to be positive and demand for network and communications hardware and services in the re-gion continues to grow,” Chang said.

Ntegrator’s core businesses include the design, installation and implementation of data,

cellular network infrastructure as well as voice communication systems.

in Vietnam and Thailand.

Myanmar Summary

pifumyltajcpdkuf qufoG,fa&;uGef&ufukrÜPDwpfckjzpfaom NtegratorInternational Ltd onf jrefrmEdkifiHwGif pifumyla':vm 2.9 oef; (tar&d uefa':vm 2.28 oef;)wefzdk;&Sdonfh vkyfief;oabmwlnDrIBuD; 4 ckudk &&SdcJ hNyD jzpfNyD; qufoG,fa&;vkyfief;ydkif;qdkif&m to Hk ;taqmif yp önf ; ud & d ,m rsm; axmufyHh&eftwGufjzpfaMumif; Ntegrator rS ajymMum;cJhonf/

umuG,fa&;0efBuD;XmerS uGef&ufcsdwfqufrIrsm; wdk;wufvmap&eftwGuf csJUxGifvkyfaqmif&efvdktyfaom qufoG,fa&;uGef&ufypönf;rsm;axmufyHh&ef

vkyfief;oabmwlnDcsuf 3 ckESif h pwkw¬ ajrmufvkyfief;oabmwlnDcsuftm; jrefrmhtoHESifh½kyfjrifoHMum;ESifh FM transmitter axmufyHh&eftwGuf jyKvkyf cJhjcif;jzpfaMumif; od&onf/

Ntegrator rS refae*sif;'g½dkufwm jzpfol Jimmy Chang u Zefe0g&Dv wGif yxrOD;qHk;vkyfief;oabmwlnDcsufwpfckudk &&S dcJhNyD; jrefrmEdkifiHwGif aemuf xyfvkyfief;oabmwlnDrIBuD; 4 ck tm; jyKvkyfEdkifcJhNyDjzpfaMumif; ajymMum;cJ honf/

vGefcJhaom q,fpkESpfwpfckcefYuwnf; u jrefrmhaps;uGufodkY Ntegrator 0ifa&mufcJhjcif;jzpfNyD; xdktcsdefuwnf; rSpí umuG,fa&;0efBuD;Xme? jrefrmh toHESifh½kyfjrifoHMum;wdkYonf Ntegrator twGuf ta&;ygaomazmufonfrsm;jzpfcJhaMumif;vnf; od&onf/

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Sherpa Hossainy

Qatar’s Ooredoo said it has carried out a “suc-cessful” technical launch

its network rollout, although it’s taking longer for the company to get the permits from the gov-ernment to build its sites.

week it was able to connect its MICT Park headquarters with its Data Centre and immediate surroundings.

“The network enabled testing of voice, SMS and data connec-tivity. In addition, integration of technology partner Huawei’s IT system enabled the perfor-mance of several key functions, including customer activation, billing and Top Up,” Ooredoo Myanmar said in a statement.

Ross Cormack, CEO of Oore-doo Myanmar said, “This suc-cessful stage of the rollout, represents an important mile-stone in the development of

our network. It is exciting ... for the growing numbers of deal-ers who are joining the Ooredoo family.”

members and invited partici-pants made voice calls, sent and received text messages and they browsed the internet, the com-pany said. Ooredoo claimed the network delivered high quality voice services and fast SMS de-livery times.

“Activation and Top Up via SMS, USSD and IVR were in-stantaneous and web browsing services gave a great customer experience,” it said.

However, Cormack sounded

facing challenges while obtain-ing permits to build its sites.

“Clearly, the delivering scale within tight timeframes is chal-lenging. Obtaining the neces-sary permits to build our sites is taking longer than we would have hoped.

“Finding solutions to fast-

track this process is in every-one’s interests.”

Edwin Vanderbruggen, a partner at VDB Loi, one of My-anmar’s leading law and advi-

behalf said the current regula-tory framework in Myanmar with respect to land use and construction does not lend itself the national rollout of network

infrastructure that the opera-tors need to undertake.

“Myanmar’s regulations on the subject do not recognise the possibility of a nationwide project. The problems with land right documentation, land use changes, lease registration and construction permits are in my personal view too big to keep the regulations as they are,” he

told Myanmar Business Today.“We need a ‘silver bullet’, a

regulation that takes care of all these issues in one go.”

Myanmar SummaryumwmEdkifiH\qufoG,fa&;vkyfief;

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Oor

edoo

Mya

nmar


mmbiztoday.comIT & TELECOM 29

Myanmar Summary

Will boost Myanmar operations, fi rm says

Kyaw Min

Nopened the company’s headquarters in Myanmar’s commercial hub Yangon, the

Telenor Myanmar, one of the winners of last year’s telecom

tender, said when fully-opera-tional, the 13-storey “Telenor House” will accommodate around 600 employees.

The 80,000-square feet facil-ity, which is located at No.40, No (1) Industrial Road, Yangon, will become fully operational next month, Telenor said.

“We expect the next few

years to be especially dynamic and fast-moving, and having a headquarters from which we can drive strategies and grow our team puts us in a strong position to achieve a successful network roll-out and launch of products and services,” Sigve Brekke, chairman, Telenor My-anmar and head of Telenor in

Asia.He said the move underscores

long-term investor to Myanmar and contribute to its economic development.”

Telenor Myanmar’s head-quarters in Yangon will house the Telenor Myanmar Acad-emy, a centre for professional development programs for the

The telecoms company said the headquarters will adopt open-space design principles and recreational areas to “pro-mote cross-functional com-munication and collaboration.”

will feature a Telenor retail shop for walk-in customers requiring information on Telenor’s prod-ucts and services, it added.

Telenor Myanmar chief ex-

said the headquarters will be at

development and operations in the country.

“In addition to serving as the main base for our employees throughout Myanmar, Telenor House will provide an inspiring working and learning environ-ment that fosters collaboration among employees,” he said.

Telenor Myanmar plans to recruit 1,000 employees by the end of 2014, including em-

aemfa0;qufoG,fa&;ukrÜPD Telenor

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w,fvDaem jrefrm ESifh tm&S wdkuf Ouú| Sigve Brekke \½Hk;csKyfwGif tajcjyKí vmrnfhESpftenf; i,ftwGif; w,fvDaem\ vkyfief;aqmif &Gufcsufrsm;udk ydkrdkt&SdefjrifhvkyfaqmifoGm;rnfjzpfNyD; w,fvDaem\ xkwfukef ESifh 0efaqmifrIrsm;jzifh taumif;qHk; 0efaqmifrIay;Edkifvdrfhrnf[k ajymcJ honf/

Telenor Myanmar Academy udk

oGm;rnf[k od&onf/ tqdkyg Telenor Myanmar ½Hk;csKyfwGif w,fvDaemvufvD ta&mif;qdkifESifh w,fvDaem\xkwfukef ESifh 0efaqmifrIrsm;udk 0efaqmifrIay; rnfh Customer Service Centre udk xm;&SdoGm;rnf[k od&onf/

ployees who will be working

ground at local sites and facili-ties as the company prepares for a network roll-out.

Myanmar Summary

Telenor Myanmar’s headquarters in Yangon.

Tele

nor

Mya

nmar

To conclude deal in next 2 months to operate mobile services in Myanmar

Thai telecommunications group True Corp PCL wants to take on a for-

eign partner in the second half of this year to help it expand in Southeast Asia, its chief execu-tive said last week.

True Corp, controlled by Thailand’s richest man Dha-nin Chearavanont, plans to of-fer any potential partner new shares equivalent to about quarter of its existing equity, Chief Executive Suphachai Chearavanont told reporters.

“We prefer to raise funds via an equity issue to open way for a foreign partner to take a stake in True,” Suphachai said. He declined to give further details.

The company expects to con-

deal – a joint partnership with Myanmar’s Yatanarpon Tel-eport – within the next two months, Suphachai said.

Manunphattr Dhananan-phorn & Khettiya Jittapong

The deal, if successful, would pit True against Telenor and Qatar’s Ooredoo which are building new mobile networks in Myanmar, a country where less than a tenth of the 60 mil-lion population has a mobile phone.

True, which operates Thai-land’s third biggest mobile net-work by subscribers, is current-ly the only major Thai telecom operator without a foreign part-ner. Market leader Advanced Info Service Pcl is 23 percent owned by Singapore Telecom-munications and Total Access Communication is majority owned by Norway’s Telenor.

home, True Corp has set its sights on the rapidly growing economies of Southeast Asia. Suphachai said True Corp aimed to sign on 100 million subscribers in the region over

its current subscriber base in

Thailand.

Debt BurdenTrue is the only Thai telecom

line phones to broadband Inter-net and cable television.

An aggressive expansion of its mobile network has left True with a net debt of $2.3 billion at the end of 2013, the third larg-est among telecom operator in Southeast Asia, Reuters calcu-lations show.

padol Dej-Udom said True was considering selling more tele-coms networks to an infrastruc-ture fund it had listed in De-cember to pay down more debt. The fund’s listing raised $1.8 billion in December, which helped cut the debt down to 75 billion baht ($2.32 billion), he added.

True also planned to cut the par value of its

stock, an accounting method to help a company reduce accu-mulated losses and enable it to pay dividends, Noppadol said.

Concerns about True’s debt burden prompted ratings agen-cy Moody’s to downgrade the company, and its mobile unit, and assign them with a negative outlook.

True Corp expects to make a

9 billion baht ($278.55 million) last year, mainly due to gains from a listing of the fund.

It also plans to invest 26.5 bil-lion baht ($820 million) this year, primarily to expand its mobile and high-speed broad-band Internet businesses as it targets revenue growth of 7 to 9 percent.

xdkif;EdkifiH\qufoG,fa&;vkyfief;tzGJUtpnf;wpf&yfjzpfonfh True Corp PCL onf ,ckESpf\ 'kwd,ESpf0ufwGif jrefrmEdkifiHü tusKd;wlyl;aygif;aqmif&Gufrnf h vkyfief;wpfckaqmif& GufoGm;vdk aMumif; tqdkygvkyfief;rS trIaqmif t&m&SdcsKyfjzpfolu vGefcJhonfh&ufowå ywfu ajymMum;cJhonf/

xdkif;Ed kifiH\ tcsrf;omqHk;yk*¾ d Kvf Dhanin Chearavanont ydkifqdkifonfh True Corp onf vuf&S dvkyfief;&S,f,m \ av;yHkwpfyHkudk pdwf0ifpm;onfhvkyfief; odkY urf;vSrf;rIrsm; jyKvkyfoGm;&efpDpOfxm; aMumif; trIaqmifcsKyfjzpfol Suphachai Chearavanont u owif;axmufrsm; tm; ajymMum;cJhonf/

True \&S,f,mrsm;tm; EdkifiHjcm; tpkpyfvkyfief;wpfckodkY a&mif;csjcif;jzifh vkyfief;\ aiGvHk;aiG&if;udk jr§ifhwif&ef twGuf qE´&SdaeaMumif; Suphachai u ajymMum;cJhonf/


mmbiztoday.comSOCIAL SCENES 30

700 children taking part in the opening of SMOHM.

Children taking part in the massive tooth-brushing event.

Dr Myint Htein giving oral education to the school children.

Dr. Myint Htein giving oral education pres-entation to the school children.

Dr. Myint Htein giving oral education to the school children.

MDA Vice President Professor Daw Swe Swe Win giving an opening speech.

Opening of Signal Myanmar Oral Health Month.

Signal and Members at the opening ceremo-ny.

SMOHM

U Zaw Myo Hlaing and MDA’s vice presi-dent Professor Daw Swe Swe Win opening the Signal Myanmar Oral Health Month.

Unilever Country Manager Ko Zaw Myo Hlaing giving opening speech.

U Myint Swe, Chief Minister of Yangon Region Gov-ernment, speaks at the ceremony. GE

Douglas E Sonnek, Political/Economic Chief, Em-bassy of the United States of America, speaks at the ceremony. GE

Jack Tan, Country Manager, GE Lighting for Sin-gapore, Brunei & Myanmar, speaks. GE

(From L-R) Jack Tan, Country Manager, GE Lighting for Sin-gapore, Brunei & My-anmar, and Sims Teo, Director, Krislite Pte. Ltd, at the signing. GE

(From L-R) Jack Tan, Country Manager, GE Lighting for Singapore, Brunei & Myanmar, and Sims Teo, Director, Krislite Pte Ltd, pose for a photo. GE

(From L-R) Ching Leong Derek Ng, Marketing Manager, SE Asia, GE Lighting, Sims Teo, Director, Krislite Pte. Ltd, Douglas E. Sonnek, Politi-cal/Economic Chief, Embassy of the United States of America, U Myint Swe, Chief Minister of Yangon Re-gion Government, Kyaw Moe Naing, Managing Director, Krislite Pte Ltd, Andrew Lee, Chief Country Repre-sentative, GE Myanmar and Jack Tan, Country Manager, GE Lighting for Singapore, Brunei & Myanmar. GE

GE Lighting and Krislite Myanmar Distributor

Agreement Signing Ceremony

Signal Myanmar Oral Health Month (SMOHM) Launching Ceremony

60th Anniversary of Establishment of Myanmar, Japan Diplomatic Relations

Performers at the show. Htet Aung Performers at the show. Htet Aung

Performers at the show. Htet Aung

A traditional dance performance. Htet Aung

Win & SPAM Auto Show

Cars at the display. Htet Aung

Win & SPAM executive gives his speech. Htet Aung

Models present a car. Htet Aung Ribbon cutting ceremony. Htet Aung


mmbiztoday.comCLASSIFIEDS 31


mmbiztoday.com

32ENTERTAINMENT

Kyaw Min

Two natural heritage sites in Myanmar – Nat Ma Taung National Park

in Chin state and the Indaw-gyi Lake Wildlife Sanctuary in Kachin state – have been recommended as priority can-didates for future nomination to UNESCO’s World Heritage List, the UN’s specialised agen-cy said.

Rising from the surround-ing Chin Hills, Nat Ma Taung National Park is renowned for its extreme elevation gradient and great beauty. Serving as a refuge during the last glacial period, the site is an alpine “sky island” with a diversity of Him-

800 plant species, including a rich variety of orchids, and sev-eral endemic bird species.

Indawgyi Lake is one of the

largest lakes in Southeast Asia. It provides habitat for 10 glob-ally threatened bird species and is of outstanding value for con-servation of migrating water-birds. The lake also contains

turtle species, such as the Bur-mese Peacock Turtle.

The recommendations emerged from the National Consultation Meeting organ-ised by the Ministry of Environ-mental Conservation and For-estry and UNESCO last month in the country’s capital Nay Pyi Taw.

Dr Nyi Nyi Kyaw, director-general of the Forestry Depart-ment, said: “Myanmar still does not have any natural World Heritage sites, yet there are sev-eral sites with high potential. The designation of World Her-itage would provide opportuni-

protection and management of these irreplaceable sites.”

Participants from government ministries, national and inter-national NGOs and universi-

ties recommended the two sites from among the seven that were recently proposed for Myan-mar’s World Heritage Tentative List. The Tentative List is the inventory of sites that Myan-mar considers has potential for future World Heritage listing.

A signatory to the World Her-itage Convention since 1994, Myanmar does not yet have any sites inscribed on the List.

Dr Tim Curtis, chief of UN-ESCO Bangkok’s Culture Unit, said: “World Heritage provides a framework for the highest lev-el of international commitment to the protection of sites which are considered of Outstanding Universal Value. Myanmar is now taking an important step forward in protecting its natu-ral heritage in accordance with World Heritage standards.”

The consultation meeting was conducted under the UNESCO project “Safeguarding Natural Heritage in Myanmar within

the World Heritage Frame-work”, which is being support-ed by the Government of Nor-way through the Nordic World Heritage Foundation.

have been proposed as hav-ing potential for future natural World Heritage inscription are: the Northern Forest Mountain Complex containing the snow-capped Mt Hkakaborazi, which rises to 5,880 metre; the Myeik Archipelago containing over 800 islands surrounded by ex-tensive coral reefs in the Anda-man Sea; the Hukaung Valley Wildlife Sanctuary, an impor-tant habitat for globally threat-ened wildlife, notably tigers and Asian elephants; the Tanintha-ryi Forest Corridor, the largest remaining lowland evergreen forest in mainland Southeast Asia; and the Ayeyawaddy Riv-er Corridor, home to the threat-ened freshwater Irrawaddy Dol-phin.Indawgyi Lake in Kachin state.

Wahgyi

Nat Ma Taung National Park in Chin state.

Nan

g D

ong

Pay

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