The Myanmar government plans to establish seven new industrial parks to address rising land prices and ensure land is used for actual industrial operations, as many current plots remain vacant. Additionally, changes are underway to allow casinos in border areas, exclusively for foreign tourists, as a means to increase foreign revenue. The government's ongoing reforms have led to previous ministerial resignations and a focus on economic development through international partnerships.

1. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
mmbiztoday.com August 7-13, 2014| Vol 2, Issue 31MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL
Myanmar Summary
Contd. P 8... Contd. P 8...
Inside MBT
Gov’t to Set up More Industrial
Parks to Curb Price Manipulation
T
he authorities are to
develop seven new
industrial parks as
part of the process to re-
strict price manipulation
of industrial lands which
are not being used to op-
erate industries, a minis-
Htun Htun Minn ter said.
“The prices of land in
major investment areas
keep increasing so we are
planning to set up seven
new zones to increase
supply,” U Thein Aung,
deputy union minister for
industry, said.
The minister said a
vast amount of indus-
trial lands are left empty
as owners are hoarding
them in the hope of mak-
“Even if we develop new
industrial zones, it would
ensure the land is deliv-
ered to people who are
actually going to build
factories and this could in
turn provide jobs and re-
duce poverty.
“If the existing lands
for industries are held to
be sold later at a greater
parks would fail,” he said.
There are 18 major in-
dustrial parks in Myan-
mar with many land plots
of those zones sold to
industrialists still being
un-utilised. State and re-
gional governments and
industrial zone manage-
ment and inspection com-
mittee are coordinating
to collect data to prepare
“Rules and regulations
should be set out to pro-
mote transparency in
this issue and to reclaim
the land plots and sell
them again to business-
people who actually want
to build or expand small
and medium enterprises
with fair price,” U Maung
Muang Oo, secretary of
Mandalay industrial zone
management committee,
told Myanmar Business
Today.
Some states and regions
have seen in the past lands
designated to be developed
as industrial zones being
misused through actions
such as buying them quick-
ly and build fences around
them without operating on
them.
There are more than
3,000 land plots in in-
dustrial parks in Yangon
which have not been uti-
lised, according to real es-
tate agents.
The current prices of in-
dustrial park lands have
increased exponentially
compared to when they
current price range has
landed between K500
million and 1 billion per
acre compared with tens
of millions when the gov-
ernment started estab-
lishing those zones.
“The plan can see reduc-
tions of land price in Yan-
gon. New zones will be
developed mostly in the
states and regions. The
most important thing is
to deliver those lands to
the ones actually utilis-
ing them,” U Myat Thin
Aung, chairman of Hlaing
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Labourers work at a garment factory in an industrial zone in Yangon. The authorities are going to set up
seven new industrial parks in a bid to quell rising prices of industrial land in the country.
Ministry to Allow Casinos in
Border Areas P-3
Mogok, Mai Shu “Treasures
Lands” Go Up for Auction P-5
Bankers Urge Gov’t to Set Up
Credit Bureaus P-7

2. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
2LOCAL BIZ
MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL
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Reporters & Contributors
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Sherpa Hossainy, Aundrea Montaño, Jacob Goldberg,
Gordon Wong, Kwan Yuk Sing, Logan Linnane
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Business News in Brief
All Asia Asset Capital says Myanmar agree-
ment close to approval
All Asia Asset Capital Ltd said the signing of the power
plant agreement between APU, the Myanmar and Thai-
Capital recently increased its stake, and the Myanmar
All Asia Capital said the agreement had been subject to
“minor delays of a technical nature,” but that the Myan-
mar government has now passed it to the economic de-
partment. All Asia Capital’s agreement to acquire a 4.5
percent stake in APU is dependent on the power plant
agreement being signed.
Myanmar-Laos bridge to boost regional trade
and Luang Namtha, will be completed next year and is
expected to boost the economies on both sides of the
Mekong. The Thai-Myanmar Cultural and Economic
Cooperation Association and the Chiangsaen Interna-
tional Institute for Skill Development recently surveyed
the progress of the $26-million bridge. Phakaimas
Weerra, Pakaimas Vierra, president of the association,
told Thai media that the bridge would enhance the live-
lihoods of communities on both sides, and would im-
prove transport from Chiang Saen district in Chiang Rai
province and Jinghong city in the far south of China’s
Yunnan province. The two-lane Myanmar-Laos Bridge
will span 691 metres and be able to support up to 75
tonnes.
Myanmar health and information ministers
step down
Myanmar’s ministers for information and health
have resigned, state media reported last week, the lat-
est changes in a cabinet that has been grappling with a
host of problems as the country presses on with reforms
after decades of military rule. The New Light of Myan-
mar newspaper reported that President Thein Sein had
“allowed” Information Minister Aung Kyi and Health
Minister Pe Thet Khin to step down “of their own voli-
tion”. No reason was given for the resignations but the
work of both of their ministries has been in the public
spotlight in recent months. Several times in the past,
ministers who were reported as having stepped down
“of their own volition” were later found to have been
forced out of the cabinet.
Myanmar makes $2.9 million heroin bust in
‘Golden Triangle’
The authorities have seized 140 kilograms of heroin
packed into blocks and hidden in a car in the notorious
“Golden Triangle” area near the Thai border, police said
last week. Two men were arrested in the border town of
Tachileik in eastern Shan State during the bust, which
netted drugs with a street value of $2.3 million, police
told AFP. Opium, heroin and methamphetamine pills
are frequently smuggled from Myanmar into Thailand,
the gateway to the Southeast Asian narcotics market.
DC) says 10 per cent of the world’s opium is produced
in Myanmar, making it the second largest producer of
the drug – the base ingredient for heroin – after Af-
ghanistan.
S Korea to loan $500 million for Myanmar’s
economic development
South Korea is helping Myanmar in its economic de-
velopment by extending economic development coop-
eration fund (EDCF) to the country for implementing
development projects. According to a framework agree-
ment signed recently between the two countries, South
Korea will disburse $500 million in loan to Myanmar
with low interest rate. The deal aims to carry out pro-
tion sectors. In June, Myanmar and South Korea signed
an agreement on bilateral investment promotion and
protection during Korean Foreign Minister Yun Byung-
se’s visit to Myanmar.
Myanmar Summary
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ESifho,f,lydkYaqmifa&;u@rsm;wGif toHk;jyKoGm;rnf[k od&onf/

3. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
3LOCAL BIZ
Myanmar Summary
MinistrytoAllowCasinosinBorderAreas
T
hree-star hotels in
border areas will
be allowed to open
casinos, according to the
Ministry of Hotel and
Tourism (MoHT).
Only foreigners will
be allowed to gamble in
those casinos while locals
will be banned from tak-
ing part, the ministry said,
adding that the hotels let-
ting locals play would be
dealt with in accordance
with the regulations.
“Only hotels in border
areas will be allowed to
run casinos because the
main goal is to increase
foreign cash intake,” said
U Sai Kyaw Ohn, deputy
minister of the Ministry
of Hotel and Tourism.
The ministry is work-
ing with the Ministry of
adapt and revise both the
Hotel and Tourism Law
and the Gambling Law to
legalise such operations.
Both laws are expected
to be amended before the
end of this year, according
to MoHT.
Htun Htun Minn Myanmar’s bustling
border areas, which have
more than 100 hotels,
foreign tourists in recent
years, generating demand
later stage, hotels in oth-
er states and regions will
also be allowed to open
casinos, the ministry said.
Casinos are being set
up in cities where under-
ground gambling opera-
tions masquerade as ar-
cade game centres, where
under-the-counter ex-
change of game coins for
cash thrives. Such centres
are required to secure
permits from relevant au-
thorities and city develop-
ment committees before
opening, and can be pros-
ecuted if gambling is part
of their operations.
“Hotels around the
world have opened casi-
nos. But this needs to be
strictly regulated because
this is large-scale gam-
bling,” said U Than Shwe,
vice chair of Myanmar
Hoteliers Association.
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Reuters

4. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 4
Myanmar Summary
JFE Engineering’s Myanmar Steel Plant
Makes First Shipment
J
FE Engineering’s
Myanmar joint ven-
ture has launched its
new plant in the country
block fabricated there, the
Japanese steel giant said.
JFE Engineering and
the Ministry of Construc-
tion established J&M
Steel Solutions Co Ltd,
a JV company for infra-
structure construction, in
November last year, and
began construction of a
plant in December that
fabricates steel structures
such as bridges in Tha-
keta township in Yangon.
The main facilities of
the new 16-acre plant
started operating in April
Aung Phyo and J&M announced con-
struction of all facilities
has been completed.
The bridge block of this
a 200-tonne truss bridge
for one of Myanmar’s
neighbouring countries,
Laos. The plant is going to
continue fabricating more
blocks and is due to com-
plete shipping them by
August, JFE said.
The steelmaker said
since the establishment of
the company, J&M Steel
has received orders from
the ministry for steel
bridge design, fabrication
and construction-plan-
ning regarding bridges
such as the Than Lwin
Bridge to be constructed
in Kayah state in eastern
Myanmar and the Htee
Gyaint Bridge across the
Ayearwaddy river in Sa-
gaing region.
In addition to these
orders, JFE Engineer-
ing subcontracts the fab-
rication work which it
receives from countries
other than Myanmar to
J&M Steel Solutions. The
company’s order backlog
now amounts to as much
as 7,000 tonnes, it said.
Development of trans-
portation infrastructure,
such as roads and rail-
ways, as well as logistics
infrastructure, including
port terminals are seen
as vital to sustain Myan-
mar’s recent economic
growth.
J&M Steel Solutions
said it is committed to
contributing to the coun-
try’s domestic fabrication
ratio which the coun-
try strives to increase,
while developing itself
by introducing Japanese
advanced technologi-
cal skills from JFE Engi-
harbour and coastal piers
and container cranes.
JFE said it aims to lever-
age J&M Steel Solutions
as the mother plant for
infrastructure projects in
regions including South-
east Asian countries, the
Middle East and Africa
overseas business.
engineering expertise to
the environmental and
In addition to the Jap-
anese supervisors dis-
patched from JFE Engi-
neering, those who have
been accepted at its Tsu
Works as trainees to learn
welding skills since 2002
(about 30) will join J&M
Steel to introduce Japa-
said.
JFE Holdings, the par-
ent company of JFE En-
gineering, was formed
in 2002 by the merger of
NKK and Kawasaki Steel
Corp. At the time, NKK
Corporation was Japan’s
second largest steelmaker
and Kawasaki Steel was
the third largest steel-
maker.
JFE Holding’s main
business is steel produc-
tion. It also engages in en-
gineering, ship building,
and real estate redevelop-
ment. JFE Holdings is the
the world with revenue in
excess of $30 billion.
Reuters
JFE
JFE Engineering
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aMumif;vnf;od&onf/

5. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 5
Myanmar Summary
Mogok, Mai Shu “Treasures Lands”
Go Up for Auction
G
em mining plots
from Mogoke in
Mandalay and Mai
Shu in Chin state, dubbed
as the “treasure lands” by
locals due to its enormous
reserve of rubies, sap-
phires and other precious
gems, went up for auction
Phyo Thu on July 28.
The auction, for both
new and expired plots,
will go on until August 27,
according to the supervi-
sory work committee for
gem plots.
A large proportion of
mining licence in the re-
gion will expire within
companies wanting to ac-
quire or renew a mining
licence can purchase an
application form for K1
million ($1,000) per plot
at the Ministry of Mining,
the committee said.
Individuals from black-
listed companies are
banned from bidding, and
all bidders are required to
attach a bank statement
from a state-approved
nancial feasibility. Maps
of the mining plots have
been put on display at the
Gems Museum in Nay Pyi
Taw.
“Mining companies, for-
eign or local, should op-
erate in accordance with
the appropriate stand-
ards, and also make sure
evant areas,” said U Win
Aung from an initiative
working for Myanmar’s
accession into EITI.
U Ko Ko Aye from My-
anmar Mining Associa-
tion said: “[The authori-
ties] need to make sure
that the social environ-
ment of those areas are
not harmed and small
scale operations are pro-
tected.”
A mining licence for
gems usually last for three
the government might
consider changing the
terms and conditions for
The mining sector
earned $7 million from
exports in the current
ond week of July while
the volume of investment
from local businesses
amounted to more than
K13 billion, according to
statistics released by the
Ministry of Commerce.
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Production of Minerals
and Fossil Fuel Drops
D
aw Le Le Thein,
deputy minister
for national plan-
ning and economic devel-
opment, said there was a
drop in the production of
minerals and fossil fuels
in the second half of the
Only 82.5 percent of
the Ministry of Energy’s
extraction target was met
because of depleting oil
pected amount of natural
gas bought from Thailand
and a decrease in private
production, she told a
parliament session.
As for mining, opera-
tions in Lone Khin and
Pha Kant areas in Kachin
state shrunk due to armed
mines being drowned out
of competition, she add-
ed.
She suggested reforms
including approvals to
oil operations in a timely
manner, thorough prepa-
ration and accurate im-
plementation of projects
and a repair and renova-
May Soe San tion program for aged
Myanmar Summary
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u xnfhoGif;ajymMum;cJhjcif;jzpf
onf/
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jynfe,f vHk;cif? zm;uefYa'oü
e,fajrvHkNcHKa&;t& ausmufpdrf;
xkwfvkyfrIavsmhenf;vmjcif;?
ucsifjynfe,f&Sd tao;pm;a&T
vkyfuGufrsm;wGif e,fajrtajc
taet& vkyfuGufavQmufxm;
vkyfudkifrIenf;yg;vmjcif;wdkYaMumifh
a&TxkwfvkyfrIrSm &nfrSef;csuf
avsmhenf;&&SdcJhonf[k pDrHpD;yGm;
'k0efBuD;u xyfrHajymqdkcJhonf/
A worker waters jade stones at a Mid-Year Emporium for jade, gems and pearls at an emporium hall in
the capital Nay Pyi Taw.
SoeZeyaTun/Reuters

6. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 6
Shwe Pipeline Carries 1.87 Billion cm
Gas to China in First Year
C
hina imported 1.87
billion cubic me-
tres of gas through
the China-Myanmar gas
Zwe Wai
operation, China National
Petroleum Corp (CNPC)
said, as the pipeline slow-
ly ramps up to full capac-
ity.
The multibillion-dollar
gas pipeline stretches
over 2,400 km (1,500
miles) from the Indian
Ocean through Myanmar
to the southwestern Chi-
nese city of Kunming, al-
lowing China to bypass
the Malacca Strait, one of
the world’s busiest ship-
ping lanes.
The pipeline should be
able to carry up to 12 bil-
lion cubic metres of gas a
year at full capacity, while
a parallel oil pipeline
due to come online later
this year will carry up to
440,000 barrels of oil a
day.
CNPC, which owns the
pipelines, said in a state-
ment posted on its web-
site that the gas pipeline
also supplied 60 million
cubic metres of gas to My-
anmar.
The gas pipeline brings
gas to China from the
of Myanmar’s western
state of Rakhine.
said previously that it
would take about a year
capacity.
In June, Myanmar an-
nounced revenues of $3.3
billion from gas exports
down from the previ-
ous two years, due to in-
creased domestic needs.
Revenues are expected to
grow as exports to China
through the pipeline in-
crease.
Myanmar Summary
China-Myanmar pipeline should be able to carry up to 12 billion cubic metres of gas a year at full capac-
ity, while a parallel oil pipeline due to come online later this year will carry up to 440,000 barrels of oil
a day.
Andrewcparnell/Flickr
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State-run New Light of Myanmar to
Relaunch in September
T
he state-run Eng-
lish daily the New
Light of Myanmar
will be relaunched as the
“Global New Light of My-
anmar” on September 1,
the newspaper reported.
Local company Global
Direct Link was awarded
a 49 percent stake in the
newspaper in 2013, with
the rest owned by the
Ministry of Information’s
News and Periodical En-
terprise, in a bid to trans-
form the government
mouthpiece into a semi-
independent journal.
Converting the state-
run newspaper into a dai-
-
ence” for the government
and can be considered as
a “profound change in es-
sence,” Union Minister
U Aung Kyi said at the
launch of its new printing
press.
He said the move is
aimed at transforming
the paper into a “free and
public-centred” media as
Aye Myat
the media landscape.
-
do news agency have been
training local journalists
over recent months, the
newspaper said. As part
of the changes, the com-
pany has invested a re-
ported $3.45 million in
a new printing press that
can print 70,000 copies
per hour of a 48-page tab-
loid or a 24-page broad-
sheet.
Myanmar Summary
Myanmar Summary
FDI in Hotel and Tourism Hits
$700 million
F
oreign hotels and
travel enterprises
have invested more
than $700 million in
Myanmar’s tourism sec-
tor, Dr Tin Shwe, deputy
minister for hotels and
tourism said during the
annual meeting of the
Myanmar Tourism Mar-
keting Association in Yan-
gon.
This is a direct response
to the booming Myanmar
tourism industry, which
according to the deputy
minister has made in-
roads in the international
market thanks to success-
ful promotion campaigns
for the industry.
have invested $690.88
million in 22 hotel pro-
jects and $39.2 million
in joint-venture develop-
ments of four hotels in
Myanmar, according to
government statistics.
The Myanmar tourism
sector is expected to earn
more than $1 billion this
year, U Thet Naing Toe,
May Soe San vice president of Union of
Myanmar Travel Associa-
tion (UMTA) said.
The sector gained $534
million in 2012 and $926
million in 2013, according
to the statistics released
by the ministry.
Last year saw the entry
of more than 1.05 mil-
lion tourists to Myanmar
while the number is ex-
pected to nearly triple to 3
million in 2014, according
to Ko Tin Tun Aung from
UMTA.
The year-on-year in-
crease in tourist arriv-
als will receive a further
boost, said Dr Tin Shwe,
from the accession of
three Pyu ancient city-
states of Beikthano,
ThayayKhittara and Han
Lin into UNESCO’s World
Cultural Heritage list.
This is expected to attract
many foreign tourists to
central Myanmar where
these sites are located.
Tourists from Thailand
make up most of the tour-
ists entering Myanmar
this year, followed by the
Chinese and Japanese,
Last week, Myanmar Business Today
reported that the Myanmar government
and the European Union (EU) have
signed a voluntary partnership agree-
ment to promote timer exports. We were
informed that the Myanmar government
is in negotiations with the EU to sign a
agreement.
Correction
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while French, Spanish
and English tourists form
the bulk of the European
tourists so far.
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a&;0efBuD;XmerS 'k0efBuD;
a'gufwmwifa&Tu ajymonf/

7. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
7LOCAL BIZ
Myanmar Summary
Bankers Urge Gov’t to Set Up Credit Bureaus
M
yanmar’s bank-
ing sector should
work towards es-
tablishing credit bureaus
that can provide “credit
histories” of borrowers in
a bid to provide a basis for
creditors to access risks
and actively screen pro-
visions of loans, banking
community said.
“The borrowers’ abil-
ity to pay back the loans
is an important factor in
evaluating them. Myan-
mar needs credit bureaus
so that we can consult the
credit histories to assess
-
cial from Kanbawza Bank
told Myanmar Business
Today.
The current terms on
loans in Myanmar usu-
ally require collateral
properties while provid-
ing a small portion of
the collateral’s value as
a loan, hindering many
businesspeople who can-
not provide any collateral
to access these loans, she
May Soe San
added.
“We need capital, partic-
ularly overseas funds. As
the Central Bank chooses
which foreign banks are
to operate in Myanmar,
the capital they bring will
into the country. We need
credit histories if we are
to issue loans, and the
Central Bank is starting
to provide that. Our bank
-
nancing businesses,” she
said.
The Central Bank has
set the current interest
rate at 13 percent, while
the interest rate for small
and medium enterprises
(SMEs) is 8.5 percent,
both of which are much
higher compared to those
of foreign countries.
“The current interest
rate cannot be lowered,
due to Myanmar’s 7 per-
-
pared with that of 2 per-
cent in Thailand,” said a
banking consultant. The
rates depend on the mi-
croeconomic market, he
added.
However, Myanmar’s
domestic market will
soon be increasingly open
to foreign banks, and even
with pre-existing limits, a
-
for loans is expected in
the country.
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bPfuvnf; Micro Financing
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EIdif;,SOfygu twdk;EIef;rSm rsm;pGm
jrifhrm;aeao;aMumif; od&onf/
Myanmar Summary
S Korean Shoe Factory Sued
over Compensation Dispute
A
shoe factory owned
by a South Korean
businessman was
charged as it failed to pay
salary and compensation
to workers after the closure
of the facility in late June,
state-run media reported.
The factory owner will
face four charges due to
their failure to send no-
tice to the Ministry of La-
bor, Employment and So-
cial Security for shutting
down the factory and send
documents related to the
salaries of workers and
agreements between the
employer and workers.
The factory also failed to
pay salary and compensa-
tion to over 700 workers
for the closure of the fac-
tory and monthly social
security fees for the work-
ers to the Social Security
Board in May.
The salary for June for
more than 700 workers
amounts to nearly K65
million ($67,080) and the
total compensation for
the closure of the factory
amounts to K130 million
($134,159).
Kyaw Min The factory said in its
announcement issued in
early July that the closure
of the factory was due to
they were facing as a re-
sult of their low-quality
products.
More than 750 workers
lost their jobs when the
factory closed.
The Master sports facto-
ry was opened a year ago
in the Hlaing Tharyar In-
dustrial Zone in Yangon.
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Myanmar’s banking sector should work toward establishing credit bureaus in a bid to provide a basis for
creditors to access risks and actively screen provisions of loans, banking community said.
Minzayar/Reuters

8. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 8
Myanmar Summary
Myanmar Summary
Myanmar Acreage
Dished Out to Eni
Eni enters into PSCs for exploration of two
onshore blocks
Ifollowing its partici-
pation in the heavily-
contested international
bidding for Myanmar’s
onshore blocks, signed
two Production Shar-
ing Contracts (PSC) with
the Ministry of Energy
for RSF-5 and PSC-K on-
shore blocks in Nay Pyi
Taw last week.
The joint venture is be-
tween Eni, with a 90 per-
cent participating interest
through Eni Myanmar
BV, and the Myanmar
Production and Explo-
ration Company Ltd (10
percent).
Blocks RSF-5 covers an
area of 1.292sqkm in the
500km north of Yangon,
while block PSC-K cov-
ers an area of 6.558 sqkm
in the unexplored Pegu
Yoma-Sittaung Basin, in
central Myanmar.
The exploration period
will last six years, divided
in three phases.
This agreement marks
-
anmar, a rapid expanding
economy, and bolsters the
its presence in Southeast
Asia, where it is present
in China, Vietnam, Indo-
nesia and Timor Leste.
Myanmar awarded 16
onshore blocks late last
year, 13 of which were for
production sharing con-
tracts (PSC), with the oth-
er three being petroleum
recovery contracts (PRC).
Malaysian state player
Petronas, ONGC Videsh
Kyaw Min of India, Brunei National
Petroleum, Petroleum
Exploration of Pakistan,
Russia’s Bashneft, Cana-
of Luxembourg and Thai-
land’s PTTEP all won
blocks.
When the round was
launched in January, 18
blocks were put on of-
fer. However, two blocks
received no bids, govern-
said. A total of 78 com-
panies initially sent in
letters of interest and 26
companies later submit-
ted 54 proposals for 16
blocks.
From page 1...
From page 1...
Tharyar industrial zone,
said.
U Kyaw Myint, Manda-
lay regional minister for
electric power and indus-
tries, said the transaction
contracts of the lands
which were sold but re-
ceived no development
should be scrutinised,
adding that this land issue
may become a challenge
for the government.
“Many entrepreneurs
are facing obstacles to ac-
cess land as land is being
hoarded like commodi-
ties. For example, we can’t
disclose the location if we
plan to open a CNG gas
station because otherwise
the price of land in that
Kyaw Myint said.
planning to assign a group
led by the vice president
to identify empty land
plots and to reclaim it by
compensating the owner
the amount paid to buy
However, the former
well-connected business-
people are among the
ones investing heavily in
land in industrial zones
raising doubts about the
-
coming plan to regain the
unused land.
The fact that those plots
have gone through the
hands of multiple owners
or being used as collaterals
for bank loans will provide
complications for the pro-
cess of regaining the lands,
businesspeople said.
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onf/
MCRB Report Looks at Myanmar
Companies’ Transparency
T
he Myanmar Cen-
tre for Responsible
Business (MCRB)
TiME/Pwint Thit Sa re-
port looking at the trans-
parency of Myanmar
company websites relat-
ing to information on re-
sponsible business prac-
tices.
The report, which draws
on established methodol-
ogy from Transparency
International, analyses
how much information
company websites pro-
vide on anti-corruption,
organisational transpar-
ency, and human rights,
health, safety and the en-
vironment (HSE).
The aim of the report,
which will be repeated in
2015, is to encourage in-
creased transparency by
Myanmar businesses in
these areas, the Yangon-
based group said.
The report shows that
nine of the largest My-
anmar companies, led by
KBZ, Parami, and Max
Myanmar publish a signif-
icant amount of informa-
tion about their policies,
standards and practices
on these issues.
However 25 of the 60
large companies are not
at all transparent, having
no websites and therefore
score zero in the survey.
A number of other com-
panies publish only a lit-
tle information, generally
relating to anti-corrup-
tion or organisational
transparency. Companies
scored fewest points in
Aye Myat
the areas of human rights,
including land acquisi-
tion, and HSE, where the
Centre was seeking evi-
dence both of policy ap-
proaches and information
about their implemen-
tation, given that these
concern to the Myanmar
people.
Vicky Bowman, director
of the Myanmar Centre
for Responsible Business,
said: “We congratulate
those companies who –
despite no current nation-
al regulatory requirement
to do so – have begun a
journey to be more trans-
parent, and upgrade their
corporate governance,
sustainability practices
and public communica-
tion in line with interna-
tional standards.
“For those companies
who have not yet begun
this journey, we hope they
will do so.”
She said over the com-
ing months, MCRB will
to Myanmar companies
on best practice on anti-
corruption and respect
for human rights to ena-
ble them to improve their
performance.
Bowman added that this
is a study of what informa-
tion companies publish,
and not an assessment of
their actual performance
in these areas.
“Policies and commit-
ments mean nothing
unless they are known,
understood by all em-
ployees and embedded in
the company’s day to day
business activities.”
She encouraged lo-
cal media and Myanmar
civil society groups to
study the public commit-
ments that these compa-
nies have made, and hold
them to account to deliver
on them.
on these issues.
SoeZeyaTun/Reuters
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pGmjzifhaqmif&Guf&ef wGef;tm;
ay;zdkUjzpfaMumif; &efukeftajc
pdkuf MCRB u qdkonf/

9. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 9
Myanmar Summary
Contd. P 12...
Myanmar’s Political and Economic Reforms Are
Emerging Unevenly: Report
D
espite a series of
rapid and dramat-
ic reforms since
electing a civilian govern-
ment in 2010, Myanmar’s
transition remains fragile,
according to new research
from the global humani-
tarian agency Mercy
Wai Linn Kyaw Corps.
Many outside observ-
ers see Myanmar as a
country with abundant
natural resources, under-
developed markets and
a government eager to
assume greater stature
regionally and globally.
But the report, “Visibility
versus Vulnerability: Un-
derstanding Instability
and Opportunity in My-
facing a series of unique
challenges.
military rule, an isolated
economy and war be-
tween the government
and a number of ethnic
minorities, Myanmar is
largely unprepared for its
new role as an open soci-
ety,” says Sasha Muench,
director of Mercy Corps’
Economic and Market
Development Technical
Support Unit.
“There’s no question
that the country holds
great promise. But its
challenges are also vast,
not the least of which is
a government and a civil-
society sector still strug-
gling to learn how to work
together.”
The report recom-
mends several policy
and program changes to
help Myanmar progress
through the expected and
unexpected problems
that will arise as part of
its transition process:
Build networks for resil-
ience involving govern-
ment, civil society and the
private sector; Develop
skills among key groups
throughout the country;
Support responsible civil-
society leadership to en-
gage more constructively
with government; Secure
land rights in a quick,
transparent and equi-
table fashion; Invest in
smallholder farmers as a
means of fuelling equita-
ble economic growth.
“To ensure that Myan-
mar emerges as a stable,
peaceful and developed
country, it’s critical to en-
sure that ordinary people
underway,” Muench said.
Postal System to See
Increased Transactions:
Minister
M
yanmar’s postal
system is ex-
pected to see an
increase in the volume of
mail transactions by 95
percent during the cur-
Aung, deputy general
manager of the Planning
and Training Depart-
ment at Myanmar Posts
and Telecommunications
said.
The comment was made
at a Japan-Myanmar con-
ference on postal services
held at the Telecommuni-
cation and Postal Train-
ing Center.
“Improving Myanmar’s
postal system requires
not only reforming the
organisation, but also im-
proving the performance
of employees. Japan re-
formed its postal service
more than 100 years ago,”
Japanese Vice Minister
Communications Masa-
hito Fujikawa said.
“Myanmar’s postal sys-
tem needs to expand its
operations and business
Phyo Thu
providing services in ad-
dition to standard mail
service and money or-
ders,” Fujikawa said.
The governments of My-
anmar and Japan signed
an agreement for coop-
eration in the postal sec-
tor in April. So far, Japan
conducted three surveys
on the operations of My-
anmar’s postal sector.
“The public lost faith in
Myanmar’s postal system
many years ago. We are
trying to restore people’s
faith,” U Kham Aung said.
Reforms are expected to
begin in April 2015. MPT
aims to improve the relia-
bility of the postal system
while introducing new
services in cooperation
with Japan.
“Japan recently pro-
posed to help and is cur-
rently working to identify
what support to provide,
as such the scope of co-
operation is still limited,”
said U Shwe Thun Maung,
manager of Yangon Cen-
Despite a series of rapid reforms since 2011, Myanmar’s transition remains fragile, according to a new
research.
DavidRoss/MBT
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aMumif; rsLeufu qdkonf/

10. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 10
Air KBZ to Begin Charter
Flights This Month
A
ir KBZ will intro-
duce air charter
service starting
this month, U Myat Thu
general manager of the
private airline told Myan-
mar Business Today.
-
ing aircrafts, along with
an ATR72-500 airliner,
Kyaw Min which arrived on July 9,
will be available for both
domestic and interna-
tional service in August.
“The new plane can-
not be put into service
right away. Inspections
be made in order to ac-
commodate government
standards,” he said.
“We are planning to
Air KBZ avaMumif;vdkif;
taejzifh Mo*kwfvrSpwifNyD;
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Air KBZ avaMumif;vdkif;rS
taxGaxGrefae*sm OD;jrwfolu
Myanmar Business Today
odkY ajymonf/
Air KBZ avaMumif;vdkif;
onf Zlvdkif 9 &ufaeYu a&muf&Sd
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ESifh,cif&Sdaomav,mOfajcmufpD;
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Air KBZ avaMumif;vdkif;
taejzifhjynfwGif;NrdKUe,frsm;jzpf
onfh aejynfawmf? ausmufjzL?
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ay;aeaMumif; od&onf/
season, which runs from
April to September,” U
Myat Thu said.
Air KBZ is currently con-
to Nay Pyi Taw, Kyauk-
phyu, Sittwe, Tarchileik,
Heho, Kyaingtone, Da-
wei, MyaukOo, Mandalay
and Kalay.
Myanmar Summary
Only3pcofTigerPopulations
LeftInAsia:WWF
O
ne of the world’s
most majestic
creatures is now
one of the most endan-
gered. In a recent report,
the World Wildlife Foun-
dation (WWF) revealed
a 97-percent drop in the
population of Asian ti-
gers.
There are currently only
3,200 tigers left out of
100,000 originally liv-
ing in the wild, the report
said.
The report warned that
the major threats to Asian
tiger species are poaching
and illegal wildlife trade.
The causes of this un-
derground trade of tiger
goods are hard to moni-
tor, being of value for tra-
ditional medicine or as a
“status symbol” in Asian
cultures.
The causes of habitat
destruction are much
harder to track, especially
due to the nearly irrevers-
ible damage to these re-
gions. “Tigers have lost 93
percent of their historic
range,” the report said.
In the report, WWF also
exposed the human fac-
tors that have led to the
tiger’s decline. Ranging
from simple facts about
Logan Linnane the species to the causes
of their endangered sta-
tus, the report makes a
case for the protection of
these animals.
In 2010, WWF and the
13 tiger range countries
committed to doubling
tiger populations in the
region by 2022, under a
campaign entitled TX2.
The organisation pro-
fessed that it only held
data for Nepal, India,
and Russia. However, it
lacked data from the oth-
er countries in the region.
Regions where WWF
has the most data are
where they have been
investing in projects to
improve monitoring of
tiger populations. Where
there are no projects im-
plemented, WWF encour-
ages countries to monitor
tiger populations within
their borders.
The NGO plans to take
on the most pressing is-
by joining with other or-
ganisations to stop illegal
wildlife trade and black
market commerce.
These programs focus
on enforcement of illegal
poaching and reducing
demand for tiger products
and exports. Reuters
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Myanmar Summary tm&Susm;rsKd;pdwfudk t"du
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rIudkajc&mcH&eftcuftcJtrsm;
&Sdonf/
Bloomberg

11. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 11
Myanmar Summary
Contd. P 12... Contd. P 12...
India Tests Myanmar Waters as Chinese
Dominance Loses Steam
I
ndian External Af-
fairs Minister Sushma
Swaraj will conclude a
series of diplomatic mis-
sions throughout Asia
with a visit to the Asean
Foreign Ministers’ Meet-
ing in Myanmar in Au-
gust. Her visit will set the
stage for Prime Minister
Narendra Modi’s upcom-
ing visit to Myanmar in
November. These visits
come as public and gov-
ernmental opposition to
Chinese infrastructure
projects in Myanmar ris-
-
-
tegic gap left by China’s
While China remains
Myanmar’s largest trade
partner and supplies the
bulk of the Myanmar
Armed Forces’ weapons,
the Myanmar govern-
ment seems to be losing
interest in Chinese infra-
structure investments.
On July 18, Myanmar’s
Ministry of Rail Transpor-
tation announced the can-
cellation of an agreement
with the Chinese govern-
ment to build a railway
connecting Kunming in
China to Kyaukpyu in
Rakhine state. Ministry
director MyintWai attrib-
uted the cancellation to
public opposition.
China’s ambassador to
Myanmar Yang Houlan
exposed Beijing’s discon-
tent when he countered
the ministry’s claim, say-
ing in a July 25 press con-
ference that the project
would proceed with the
support of the Myanmar
Jacob Goldberg government and people.
He also claimed the op-
position to the project has
been overstated by the
Myanmar government.
Yang’s claims have not
been corroborated by the
Myanmar government.
The 1,215-km Kunming-
Kyaukphyu railway, pro-
posed in a 2011 MoU be-
tween the Chinese and
Myanmar governments,
would have followed the
route of an existing pipe-
line that connects gas
-
ming. The $1 billion pipe-
line was fully funded by
the Chinese government.
A recent Reuters report
said the pipeline has been
delivering only 15 percent
of its intended annual ca-
pacity to its destination in
Kunming.
Similarly, the bulk of
the $20 billion cost of the
now-defunct railway pro-
ject was to be borne by the
China Railway Engineer-
ing Corporation (CREC).
However, in the three
years since the MoU was
signed, public opposition
to the project has ham-
pered all progress on con-
struction. Political parties
and civil society groups
in Rakhine state, through
which the railway would
have passed, have pro-
tested the construction
of the pipeline as well as
the railway, citing envi-
ronmental and social con-
cerns. Groups in Rakh-
ine state also oppose the
practice of exporting local
natural resources out of
Rakhine territory.
The cancellation of
the Kunming-Kyaukpyu
railway project follows
a growing trend of op-
position to Chinese in-
vestment in Myanmar’s
infrastructure. In 2011,
public opposition to the
multi-billion dollar Myit-
sone hydroelectric dam,
another Chinese pro-
ject, prompted President
Thein Sein to suspend the
Wasbir Hussain, di-
rector of the Centre for
Development and Peace
Studies in Guwahati, de-
scribes China’s engage-
ment with Myanmar as
the pursuit of a three ob-
jectives. First, China seeks
to use Myanmar’s natural
resources to meet its do-
mestic demand. Second,
China wants to expand
its access to the Bay of
Bengal and the Andaman
Sea in order to develop a
modern maritime recon-
naissance system. Third,
China is bent on deny-
ing India strategic space
across South Asia.
The cancellation of the
Kunming-Kyaukpyu rail-
way project and the lack-
luster performance of
the China-Myanmar gas
pipeline endanger all of
Beijing’s objectives.
At the same time, New
Delhi seems to be achiev-
ing its strategic goals in
Myanmar with increas-
ing ease, allowing India
-
ing gaps in its Look East
Policy.
While Chinese projects
Myanmar are consistent-
ly falling prey to public
disapproval, several in-
frastructure projects that
will connect Myanmar to
India’s northeast states
appear to be making pro-
gress, even in the face of
similar local opposition.
Kaladan Multi-Modal
Transit Transport Pro-
ject, which will connect
India’s Mizoram State to a
deep-sea port in Sittwe, is
projected to be completed
by 2015. The project will
expand the capacity of the
Sittwe port facility, giving
India’s northeast states
access to a harbour in the
Chinese President Xi Jinping (L) holds a welcome ceremony for Myanmar President U Thein Sein outside
PangXinglei/Xinhua
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Edkifonf/

12. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ 12
From page 11...
ConstructionMinistrySeeksParliament
Approvalfor$80-mADBLoan
T
he Ministry of Con-
struction is seeking
approval from par-
liament for a loan of $80
million from the Asian
Development Bank (ADB)
to upgrade a highway in
southwestern Ayeyawady
Delta.
The upgrading of Mau-
Kyaw Min bin-Kyaiklat-Pyaponis
road is estimated to cost
$88 million and the gov-
ernment will provide the
outstanding amount.
Minister for construc-
tion U Kyaw Lwin said
that it was essential to
upgrade the road for the
economic recovery in the
area which was worst
hit by Cyclone Nargis in
Myanmar Summary
Myanmar Summary
2008.
If upgraded, the road
and will serve as an evac-
uation route in the event
of disastrous cyclones like
Cyclone Nargis, he said.
ADB had provided My-
anmar a loan of $60 mil-
lion in January which will
be used in power sector
to cover installation of
new transformer at sub-
power stations in power
supply system of Yangon,
Mandalay, Magway and
Sagaing regions, substitu-
tion of old power cables
with new ones, instal-
lation of aerial bundled
conductors at power lines
and that of digital meters.
The Ministry of Coop-
eratives also sought par-
liament approval to buy
farm machinery from
South Korea which it be-
lieves will help realise the
goal of reducing poverty
to 16 percent in 2015.
Gov’t Signs Petroleum
Recovery Deals on Two
Onshore Blocks
T
he authorities have
signed improved
petroleum recov-
ery deals for two onshore
blocks with foreign and
Under contracts ini-
tiated in Nay Pyi Taw
between the state-run
Myanmar Oil and Gas
Enterprise (MOGE), Brit-
ish Virgin Islands-based
MPRL E&P Pte Ltd and
Myanmar Petroleum Ex-
ploration and Production
Co, the tasks of improved
petroleum recovery is to
be implemented on two
onshore blocks in Pyay
and Myanaung out of 16
onshore blocks.
The oil companies are to
conduct the environmen-
tal impact assessment
(EIA) and social impact
assessment (SIA) in the
respective blocks and co-
operate with local author-
ities for development of
the regions.
In October 2013, 10 for-
eign companies out of 78
– from Britain, Brunei,
Canada, India, Italy, Lux-
embourg, Malaysia, Paki-
Aye Myat stan, Russia and Thailand
– won tenders for oil and
gas exploration at 16 on-
shore blocks in Myanmar.
-
tistics, foreign investment
in the oil and gas sec-
tor amounted to $14.372
billion in 115 projects as
of June, accounting for
30.76 percent of the total.
The sector is the second-
largest foreign invest-
ment receiving sector fol-
lowing electric power.
Myanmar Summary
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Bay of Bengal and con-
necting Myanmar to Kol-
kata port.
Groups such as the
Kaladan Movement in Ra-
khine state and the Chin
Human Rights Organi-
zation have raised con-
cern about the Kaladan
project due to the lack of
environmental impact as-
sessments throughout the
planning process and the
either the Indian or My-
anmar governments to
consult with populations
living along the route of
the project.
Nonetheless, this oppo-
sition seems to have little
impact on the progress of
the project.
Earlier in July, the gov-
ernments of India and My-
anmar also pledged to pro-
ceed with the creation of a
highway bus route that will
connect Moreh in India’s
Manipur state to Manda-
lay, which is set to be com-
pleted in October.
According to Madhur-
jya Kamar Dutta, program
manager for trade and
investment facilitation at
the Mekong Institute for
Development and Coop-
eration, India-funded in-
frastructure projects will
facilitate the emergence of
a new Mekong-India eco-
nomic zone. The Moreh-
a crucial gap in the Asian
Highway network as well
as connect India’s north-
eastern states to the East-
West Economic Corridor,
which connects Mawla-
myine in Myanmar to Da
Nang port in Vietnam.
Thus, India will achieve
a level of connectivity
throughout Southeast Asia
similar to what China has
enjoyed for centuries.
Both Indian and Chi-
nese infrastructure pro-
jects in Myanmar have
faced public opposition,
but only China’s plans
have unravelled as a re-
sult, while India’s projects
have remained intact. It
is possible the Myanmar
government has found a
new patron in Asia. But
it is more likely that these
events follow Myanmar’s
well-known practice of
balancing the great pow-
ers against each other.
By challenging China’s
monopoly, the Myanmar
government is opening
strategic space to create
further competition be-
tween India and China,
leverage and autonomy in
the international arena.
From page 11...
From page 9...
MPT provides services
throughout the country
and has more than 4,000
employees. The quality
and scope of the services
are expected to improve
with the potential for
support from Japan.
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&Edkifonf/

13. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ 13
Myanmar Summary
China Poised to Pass US as
Top Business-Travel Market
C
hina is poised to
displace the U.S. as
the world’s biggest
business-travel market
by 2016, aided by accel-
erating export growth and
Spending worldwide for
business travel will climb
6.9 percent this year to
$1.18 trillion, according
to a report released to-
day by the Global Busi-
ness Travel Association.
Growth will accelerate by
an estimated 8.6 percent
next year and then slow
in 2016 through 2018, the
GBTA forecast shows.
In China, the increasing
pace of exports since mid-
2013, consumer prices
running below govern-
ment targets and nominal
wage gains that support
growth are contributing
to an expansion in the
market. That contrasts
with the US, where eco-
nomic growth has been
“stubbornly low,” along
with employment and
wages, the GBTA said.
“China, along with the
other BRIC countries
of Brazil, Russia and In-
dia, are leveraging their
business travel expendi-
tures into more economic
opportunities,” said Mi-
chael McCormick, GBTA
executive director. “We
expect to see this shift in
business travel spending
to continue.”
Spending in Russia may
fall more than 5 percent
this year, the GBTA said,
Mary Schlangenstein
amid safety concerns and
the international sanc-
tions imposed on the
country, triggered by
the crisis in Ukraine.
Since the GBTA began
its study in 1998, the US
has been the world’s larg-
est business travel mar-
ket, although it’s not seen
the fastest expansion.
While spending in China
increased an average 16
percent a year since 2000
to reach $225 billion in
2013, in the US it rose 1.1
percent annually to $274
billion.
Conjested Airspace
Last year, American
business travellers spent
$1.20 for every dollar
spent by the Chinese,
down from $7.7 in 2000,
according to the GBTA,
which analyzed travel
spending in 75 countries
for its study.
The projections have
implications in areas as
diverse as hotel construc-
tion and plane purchases
by airlines, and if real-
ized will add pressure on
China’s already congested
-
lays run at about 25 per-
cent and only 20 percent
of available airspace is al-
lotted to civil aviation.
China is expected to ac-
count for half of the in-
crease in Asia’s commer-
in 2020 from 6,000 at the
end of 2013, according to
Ed Greenslet, who pub-
lishes The Airline Moni-
to just over 7,200 from
6,482 in the same period,
he said. Bloomberg
StimulusSpendingasGrowthDips
Sbillions of dollars
in stimulus spend-
ing and property market-
boosting steps to shore
up demand after report-
ing its weakest economic
growth in more than a
year.
Exports in Asia’s fourth-
largest economy have
-
pected from a pick-up in
the global economy this
year, but domestic de-
mand has been fragile
since a mid-April ferry
accident hit tourism and
its services industry.
The government rolled
out an additional 11.7 tril-
lion won ($11.4 billion) in
spending and 26 trillion
-
nancial support, and loos-
ened mortgage borrowing
restrictions.
The central bank sepa-
3 trillion won to encour-
age them to expand lend-
ing at low interest rates
to companies that build
factories in the country or
buy machinery.
Analysts said the sup-
port package was likely to
give at least a short-term
boost to consumer spend-
ing, but warned it could
add to household debt
levels, already among
the highest in the world.
“This is surprising to us
in that it marks a shift
in policy stance toward
debt-driven growth from
what was focused more
Christine Kim
and Choonsik Yoo
on containing debt,” said
Young Sun Kwon, econo-
mist at Nomura in Hong
Kong.
President Park Geun-hye
has called for all-out ef-
forts to boost the economy
and Finance Minister Choi
Kyung-hwan promised to
take massive action, which
investors believe will pres-
sure the central bank to cut
interest rates as soon as
August.
The economy grew 0.6
percent in the April-June
period over the prior
quarter, the weakest since
and below expectations
for 0.7 percent growth,
data earlier on July 24
showed. The ministry cut
its 2014 growth forecast
to 3.7 percent from 4.1
percent. Reuters
Myanmar Summary
Bloomberg
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rSmvnf; usqif;vmcJhonf/

14. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ 14
Asian Economies to Struggle on
Weak Export Demand
T
he outlook for
emerging Asia has
dimmed further
this year on weak demand
for exports, although
growth in India is expect-
ed to accelerate into 2015
even as China is held back
in part by a slowing prop-
erty market, Reuters polls
showed.
China and India have
been stung by the West’s
slow recovery from the
Great Recession and, add-
ing to the problem, both
countries have struggled
to implement reforms at
home to boost productiv-
ity and consumer spend-
ing.
But signs of stabilization
have emerged in China,
the world’s second-largest
I
ndonesia approved a
new regulation eas-
ing the export tax on
mineral concentrates for
miners planning to build a
smelter in Southeast Asia’s
regulation on the export
tax has been signed,” said
Deputy Finance Minister
Bambang Brodjonegoro.
In January, Indonesia
imposed an escalating
tax policy, which penal-
Sumanta Dey
Adriana Nina Kusuma
and Randy Fabi
economy, which grew by
a slightly-faster-than-ex-
pected annual 7.5 percent
in April-June, thanks to a
raft of government stimu-
lus measures.
Chinese manufactur-
ing expanded at its fast-
est pace in 18 months in
July, according to a pre-
liminary HSBC survey of
purchasing managers on
July 24.
However, economists in
the Reuters survey con-
ducted from July 17-23
were wary about pushing
growth forecasts much
higher. They now expect
the Chinese economy to
grow 7.4 percent in 2014,
a modest increase from
the 7.3 percent predicted
in April, according to 44
respondents.
They expect growth to
slow to 7.2 percent next
year. That underlines the
-
ernment stimulus meas-
ures have had so far and
property market slump
could worsen and hurt the
broader economy.
Chinese exports rose
7.2 percent in June from
a year before, lower than
expected. They were up
only about 0.9 percent in
with a year earlier, com-
pared with year-on-year
growth of close to 10 per-
cent in January to June
2013.
“The mini-stimulus
measures have helped
to support growth in the
second quarter but we
see some downside risks
stemming from a prop-
erty market correction
due to oversupply and un-
certain external demand,”
said Jian Chang, an econ-
omist at Barclays in Hong
Kong.
Economists in the poll
also cut 2014 growth fore-
casts for India, Indonesia,
the Philippines, South
Korea and Thailand while
Australia and Malaysia
were predicted to expand
at a slightly faster pace.
The forecast for Thai-
land was cut the most
after months of political
turmoil that led to a mili-
tary coup in May, as well
as the continuing weak-
ness of exports. Its econo-
my is expected to grow by
just 1.8 percent in 2014,
down from the 2.6 per-
cent forecast in April.
The Thai economy is
then seen expanding 4.0
percent next year. Most
other economies are
also expected to perform
slightly better in 2015.
For India, economists
penciled in 5.3 percent
-
cal year, down from the
5.5 percent seen in April.
For now, they fail to
share the enthusiasm of
investors for the new gov-
ernment of Prime Minis-
ter Narendra Modi. His
landslide election win two
months ago has helped
send Mumbai’s Sensex in-
dex up more than 24 per-
cent this year.
Most Asian countries
have begun increasing
exports to the United
States as its economy has
rebounded following a
dismal start to 2014 but
orders to the euro zone,
China and regional trade
partners have stagnated
or slipped.
“Despite the pick-up
in exports to the U.S.,
emerging market ship-
ments excluding those
from China have yet to
rise broadly,” said David
Hensley, an economist at
JP Morgan.
-
gion has limited the scope
for any easing in mon-
etary policy and almost
all major central banks
in the region are likely to
hold interest rates steady
until the end of next year,
resisting pressure to stim-
ulate demand.
Only the Bank of Korea
is expected to cut its base
rate, by 25 basis points to
2.25 percent sometime in
the third quarter.
In contrast, both the
Federal Reserve and the
Bank of England are ex-
pected to raise interest
rates by the middle of
next year, although the
-
tion there could delay any
move.
The outlook for Asia
was, however, better
than for Latin American
economies, where Brazil
is seen managing just 1.1
percent growth this year.
Reuters
Indonesia Eases Mineral Export
Tax for Firms Building Smelters
ised any company which
had not made progress
on building a smelter by
slapping them with a 25
percent tax on copper
concentrate exports or a
20 percent tax on lead,
zinc, iron and manganese
shipments. The tax was
due to increase annually
to 60 percent in 2017.
The tax was intended to
force miners to develop
smelters and mineral pro-
cessing facilities and part
of a government push
to derive bigger returns
from Indonesia’s min-
eral resources. But rather
than pay it, most miners
stopped exporting from
Southeast Asia’s biggest
economy and one of the
world’s top mineral pro-
ducers.
The government also
banned the export of un-
processed ore, and that
ban will remain in place.
Reuters
Myanmar Summary
Myanmar Summary
Bloomberg
Joko Widodo, Indonesia’s president-elect.
Bloomberg
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15. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ 15
Myanmar Summary
Fleeing Migrant Workers in Thailand
Delay Rice Shipments
R
ice prices in Thai-
land, the world’s
second-biggest ex-
porter, will probably ex-
tend their gains because
of shipping delays as
-
ter the military coup, the
Thai Rice Exporters Asso-
ciation said.
As many as 70 percent
of the workers involved
in loading grain at ware-
houses and moving it
to vessels have left the
country, Chookiat Ophas-
wongse, the association’s
honorary president, said.
That could delay deliver-
ies by as much as three
weeks, he said.
Thailand is set to ac-
count for 22 percent of
global rice exports this
year, US Department of
Agriculture data show.
More than 200,000 work-
ers from neighbouring
countries left Thailand
Supunnabul
Suwannakij
since the military seized
power on May 22 amid
fears of a crackdown on
illegal labor, according to
the International Organi-
zation for Migration. The
military denies ordering
such a move. Thai rice
prices have increased to a
three-month high.
“We’re now facing prob-
lems of severe labour
shortages and tight sup-
plies, which will boost
prices in the short term,”
Chookiat said, predicting
that rates may increase
by as much as $20 in the
next two months. Thai
5-percent broken white
rice, an Asian benchmark,
climbed for a third week
on July 18, adding 1.5 per-
cent to $398 a tonne.
A supply shortage after
the military halted sales
from state stockpiles is
also bolstering rates,
Chookiat said. The army
stopped sales and curbed
movement of grain to
review the quality and
quantity of reserves built
up through a state buying
program started in 2011.
Inventories rose to 14
million tons from 5.6 mil-
lion tons three years ago,
USDA data show.
Excess Supplies
Ample stockpiles in
Thailand and competition
from Vietnam will curb
gains, said Kiattisak Kan-
layasirivat, a Bangkok-
based director at Ascend
Commodities SA, which
trades about 500,000
tons of rice annually. “As
prices rise, demand for
Thai origin slows. Buyers
will seek cheaper sources
like Vietnam.”
While prices for 5-per-
cent broken white rice in-
creased for the three
weeks leading up to July,
they have declined 9 per-
cent this year because of
excess supplies in Thai-
land and India.
“Only about 500 tonnes
of rice a day can be load-
ed now, compared with
2,000-3,000 tons nor-
mally,” Kiattisak said,
referring to grain bought
from Thai exporters for
shipment to Africa. “I’ve
never seen such slow
loading before. The ship-
ment could be delayed by
a month.”
The National Council for
Peace and Order, as the
junta is known, aims to
solve the problem of illegal
workers, Air Chief Marshal
Prajin Juntong, the head of
council expects migrant la-
bor will return to Thailand
because of high demand,
he said.
Loading Bags
Workers load bags from
warehouses onto lighters
and onto vessels at ports,
said Sermsak Kuonsong-
tum, director of Chai-
yaporn Group, an export-
er, and association vice
president.
The loading rate is
about 300 tonnes a day
now compared with 1,500
tonnes normally, Serm-
sak said.
The country has a mi-
grant worker population
of 2.23 million, including
1.82 million people who
entered the country il-
legally, according to the
Department of Employ-
ment. Of the total, 1.74
million are from Myan-
mar, 395,000 from Cam-
bodia and 96,000
from Laos. Bloomberg
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jyefvnf0ifa&mufvmrnf[k

16. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
INTERNATIONAL BIZ 16
Myanmar Summary
Co-host:
Myanmar Global Investment Forum
Myanmar
In partnership with the Myanmar Investment Commission (MIC), the 3rd Annual Euromoney Myanmar Global Investment Forum will be held again in Nay Pyi
Taw on 16-17 September.
Join us this September, to meet with over 800 international and local business leaders, policymakers, financiers, and economists, who will share their outlook as the
‘Golden Land’ continues its dramatic re-emergence into the international community.
Recent developments such as the easing of economic sanctions, a liberalising financial sector, and strong activity in agriculture and trade, have contributed to raising
Myanmar’s international profile as an investment destination.
Some key topics will include:
For more information or register, please visit our website: www.euromoneyconferences.com/myanmar
or email us : rsvp@euromoneyasia.com
Charter Sponsor
Lead Sponsors
Co-Sponsors
AMCHAM MYANMAR CHAPTER
India Threatens to Derail WTO Deal,
Prompts Angry US Rebuke
I
ndia threatened on
July 25th
to block a
worldwide reform of
custom rules, which some
estimates say could add
$1 trillion to the global
economy and create 21
million jobs, prompting
a US warning that its de-
mands could kill global
Diplomats from the 160
World Trade Organiza-
tion member countries
meeting in Geneva had
been meant to rubber
stamp a deal on “trade fa-
cilitation” that was agreed
at talks in Bali last De-
ever global trade agree-
ment.
But India, in an 11th-
hour intervention, de-
manded a halt to the trade
facilitation timetable until
the end of the year and
said a permanent WTO
deal on food stockpiling
Frank Jack
Daniel & Tom Miles
must be in place at the
same time, well ahead
of an agreed 2017 target
date.
“My delegation is of the
view that the adoption of
the TF (trade facilitation)
Protocol be postponed till
a permanent solution on
public stockholding for
food security is found,”
Indian Ambassador An-
jali Prasad told the WTO
meeting.
The ultimatum revived
doubts about the future
of the WTO as a negotiat-
ing body, and many dip-
lomats said Delhi’s stance
could derail the whole
process of world trade lib-
eralization.
“It is no use to sugar
coat the consequences of
such action or to pretend
that there would be busi-
ness as usual in the after-
math,” US Ambassador
Michael Punke said.
“Today we are extreme-
ly discouraged that a
small handful of members
in this organisation are
ready to walk away from
their commitments at
Bali, to kill the Bali agree-
ment, to kill the power of
that good faith and good-
the lights in this building
back to dark,” he said in a
statement.
Modi has vowed to spur
economic growth through
sweeping changes to poli-
cies that many people felt
had stagnated under the
outgoing administration,
and his every step is be-
ing closely monitored at
home and abroad.
Reuters
Cars, pedestrians, carts and motorcycles move down a congested street in Mumbai.
Bloomberg
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Muonf/

17. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
INTERNATIONAL BIZ 17
Myanmar Summary
Myanmar Summary
Investors Pin Growth Hopes on US as
Ukraine Crisis Casts Shadow on Europe
W
ith the prospect
tions against
in Europe, investors will
be looking to the United
States and China to un-
derpin the global econo-
my.
The recent US GDP
reading and jobs data will
help markets to judge the
strength of the economy’s
rebound and the likely
speed of the Federal Re-
serve’s return to more
conventional monetary
policy. The Fed meets on
Tuesday and Wednesday.
“The US-China story is
looking more encourag-
ing,” said James Knight-
ley, an economist with
ING. “With the European
Central Bank’s moves,
that should allow the euro
zone economy to swing
upwards but with a good
six- to 12-month lag.”
In Europe, the downing
of a Malaysia Airlines air-
liner over eastern Ukraine
has left countries such
as Germany with little
choice but to change their
long-passive stance and
impose tougher sanctions
on Moscow over the role
of pro-Russian separa-
tists.
Early in the week of July
27 to August 2, European
Union ambassadors met
could include closing EU
capital markets to state-
owned Russian banks,
placing an embargo on
arms sales and restricting
John O’Donnell supply of energy technol-
ogy.
Globally, such sanctions
would bite hardest in Eu-
rope, where Russia does
most trade, compound-
ing economic problems
not only for Russia, but
throughout the region.
The International Mon-
etary Fund has already
on investment in Russia
of sanctions as it pared
back its forecast for global
economic growth in the
week of July 20-26.
businesses in Germany,
which accounts for more
than one quarter of all ex-
ports across the European
Union, has dipped further
since the plane crash.
“An escalation carries
large risks for the econo-
my,” he said, cautioning
in particular of the knock
a big risk from further
sanctions although one
has to accept that clear
(diplomatic) signals are
needed.”
Bounce-back
The crisis comes at a
delicate moment for the
18 countries using the
recovery is losing pace.
Investors will get a snap-
tion rate, which has sunk
well below the European
Central Bank’s target last
Thursday.
With Britain, one of the
stronger European econ-
omies, caught up in the
push for mutually painful
sanctions against Russia,
economic growth pros-
pects hinge on the United
States and China.
“We think there is go-
ing to be a bounce-back
in (US) GDP,” said ING’s
Knightley. The Reuters
consensus shows annu-
alized growth picking up
to 3 percent in the April-
June quarter.
Data from Beijing is ex-
economy picked up in July
after government moves
to boost lending to busi-
ness, such as reducing
the amount of cash banks
must hold in reserve.
China’s economy grew
at 7.5 percent in the sec-
ond quarter. But the drags
on growth, including a
downturn in property
prices and high local gov-
ernment debts, are simi-
lar to those in Europe.
Analysts believe that
deeper reforms, such as
overhauling giant state
companies, will be needed
in the long term to keep the
economy growing at the
pace the authorities want.
That keeps the focus
on US Federal Reserve
and how fast it will run
down the stimulus that
has pumped cheap mon-
ey around the world,
prompting investors to
take increasing risks.
The Fed gathers on
Tuesday for its two-day
meeting but no change of
course is expected yet.
In early July, Feder-
al Reserve Chair Janet
Yellen signaled that she
would keep the central
bank’s purse strings loose
nancial crisis are “com-
pletely gone.”
But some analysts say
the central bank may be
forced to take a stricter
approach to avoid pump-
ing up market bubbles.
“People worry that the
Fed may raise interest
rates earlier than expect-
ed,” Nie Wen, an analyst
with Hwabao Trust in
Shanghai, told Reuters.
He predicts a rise in inter-
est rates as soon as early
next year.
Michael Heise of Allianz
warns that keeping mon-
ey too cheap for too long
carries a major risk.
“If the central banks
stay too accommodative
for too long, you can have
a boom ... and it can come
to a massive correction.”
In a reminder of the del-
cial policymakers, Argen-
tina will seek next week to
reach agreement with in-
vestors suing the country
for full repayment of their
bonds.
President Cristina’s
stance would appear to
indicate that the country
Ireland to Give Green Light for Hedge Funds to Lend
Carmel Crimmins
I
reland, one of the big-
gest hubs for funds
in Europe, will allow
hedge funds based in the
country to lend to com-
panies under new rules
drawn up by the central
bank, the bank said.
With banks in Europe
still reducing their lend-
ing to households and
corporations in the wake
issue bonds are increas-
ingly seeking to borrow
from other sources such
as insurers, private equity
Ireland has traditionally
prevented hedge funds
domiciled in the coun-
try from lending because
regulators viewed it as
too risky. But with access
to credit a growing prob-
lem in Europe, the central
bank has drawn up regu-
lations that will allow spe-
cialized loan funds that it
authorizes to extend loans
internationally.
“In our view this is a
sector that should be sub-
ject to some additional
regulation,” said Martin
Moloney, head of markets
policy at the Irish central
bank.
“If you have loan origi-
nation funds operating
out of Ireland and lending
into other countries there
are potential cross border
issues. We wanted to deal
with that upfront and we
have been very focused on
sues.”
The central bank is
drawing heavily on new
regulations devised to
prevent a repeat of the
banking crisis to regulate
funds which lend money.
Under the rules, a loan
fund will not be able to
lend more than a quarter
of its assets to one bor-
rower and the amount of
debt the fund can take on
will be capped at a ratio
of 1 to 1, meaning that if
a fund has assets of 100
million euros it can bor-
row another 100 million
euros.
The move by the Irish
central bank comes as the
European Central Bank
and the Bank of England
are trying to resurrect the
European Union’s market
for asset-backed securi-
ties as a way of getting
businesses and plug some
of the gap left by banks.
Reuters
will go down to the wire.
If talks fail, Argentina fac-
es its second default in 12
years. Reuters
AndreyRudakov/Bloomberg
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18. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE 18
Myanmar Summary
Japan’sANADitchesMyanmarAirlineInvestmentPlan
J
apanese airline All
Nippon Airways
(ANA) has cancelled
its plan to buy a 49 per-
cent stake in local carrier
Asian Wings Airways as
growing competition had
made the investment too
risky.
“We failed to reach agree-
ment with AWA in regard
to a capital participation
investment and as a result
halted the investment,”
ANA said in a statement.
“Competition between
new and old airlines in
bringing rapid changes in
the external environment,
and calling into question
the assumptions made at
the time of the original
decision,” the airline said.
ANA announced the
$25-million investment
in the Myanmar carrier
last year as part of a strat-
egy to expand overseas by
investing in airline-relat-
ed businesses.
Kyaw Min
At the time, the deal
-
ment in a Myanmar-based
commercial carrier by an
international airline. ANA
said the deal was in line
with its group strategy,
“which involves diversi-
areas, centred primar-
ily around airline-related
businesses particularly in
the Asian area”.
Yangon-based Asian
-
ing in 2011, operates tur-
boprop ATR 72 regional
aircraft and an Airbus
in Myanmar, with plans
to expand international
services to destinations in
Southeast Asia.
ANA, which resumed
and Yangon in 2013 after
a 12-year hiatus, raised
$1.6 billion in a share of-
fering two years ago to
fund purchases in airline-
related businesses fo-
cused on Asia. Last year,
the company established
-
gapore to coordinate its
acquisitions.
TomohiroOhsumi/Bloomberg
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yxrqHk;tpDtpOftjzpf
rSwfwrf;wifcJhonf/

19. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE 19
Myanmar Summary
David Mayes
T
here is a large but
very illiquid asset
class that falls un-
der the broad category of
passion investments. A
passion investment can
watches and jewellery,
classic cars, art, wine,
comic books to trading
-
utes spent on the topic
during my academic stud-
ies essentially amounted
to a warning to stay from
them. Yet many people
have experienced great
returns in this asset class.
In my opinion it is a very
personal choice if invest-
ing in passion assets is a
-
cision.
-
ence stems from asking
yourself the following
question. Are you per-
sonally passionate about
what you are consider-
ing investing in or are
you considering investing
in it because you know
other people are passion-
ate about it? While this
doesn’t seem to make a
losing investment.
The main reason is that
due to their illiquidity and
rarity, it is extremely dif-
Pros and Cons of Passion Investments
onto passion investments.
This gets compounded if
you don’t have the same
specialist knowledge of
the sector as the person
on the other side of the
obtain that knowledge if
it is not a true passion of
yours.
The caveat here can be
that too much passion
sometimes clouds your
judgement. That classic
car you have dreamed
about since childhood
may sway you to buy it at
a price that does not re-
a great upside of that kind
of scenario is that you
may end up stuck holding
onto something that you
truly love. In that sense
a hobby expenditure be-
comes the result of a
passion investment gone
wrong.
On the other hand, I
would avoid passion in-
vestment funds like the
plague. Even though ac-
cording to the Coutts Pas-
sion Index the asset class
has outperformed shares
in the last decade, a run
on a fund invested in pas-
sion assets could result in
a disaster of epic propor-
tions. By the very nature
of the fact that a lot of the
value is derived from the
passions of people inter-
ested in them, liquidat-
ing a portfolio of watches,
cars, or comic books in
any timely manner would
be near impossible with-
down.
Further on the issues
surrounding the illiquid-
ity of this asset class, I
would strictly limit the
percentage of your net
worth tied up in passion
investments to about 10
percent. If your business
is closely related to pas-
sion investments and it is
your main expertize then
this number could be
slightly higher, but even
then you should separate
your personal net worth
from the success or fail-
ure of your business. This
is practical advice regard-
less of the industry.
Passion investing at-
tracts many people due
to the fact that it can be
a lot more fun than prob-
ably any other form of
investing. They are also a
lot more fun to show your
friends than a statement
from your broker show-
ing which shares or funds
you hold. The downside
is that they are illiquid,
and if you are a novice
you will surely get taken
advantage of by the many
sharks in the game. How-
ever, if you truly have a
passion for some of these
goods and know your
-
casionally be very good.
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 david.m@faramond.
com. Faramond UK is
regulated by the FCA and
provides advice on pen-
sions and taxation.
ThailandtoAllowCompaniestoRaiseMoneyforOverseasProjects
T
hailand plans to al-
low companies to
raise funds locally
for infrastructure projects
in neighbouring countries
such as Myanmar, Laos
and Cambodia.
The regulator will ap-
prove rules as early as this
quarter for so-called In-
ternational Infrastructure
-
struction of power plants,
tollways and other public
works, said Vorapol So-
catiyanurak, secretary
general of the Securities
& Exchange Commission.
Several Thai and for-
eign companies have ex-
Anuchit Nguyen -
ing infrastructure trusts,
he said.
Thailand, Southeast
Asia’s second-biggest
economy, has been pro-
moting itself to neigh-
bours with less-developed
capital markets as a place
for raising funds. Army
chief Prayuth Chan-Ocha,
who seized power in mili-
tary coup on May 22, has
said he will boost invest-
ments in projects along
the nation’s borders to
increase trade. The three
neighbours accounted
for less than 4 percent of
Thailand’s international
trade in 2013.
“Laos, Myanmar and
Cambodia will require a
vast amount of funds for
the development of their
infrastructure,” Vorapol
said. The trusts help serve
those needs and will be an
“attractive” investment
option, he said.
Laos raised 1.5 billion
baht ($47 million) by sell-
ing sovereign bonds to
time in May 2013. Com-
panies such as Banpu Pcl
(BANPU), Thailand’s big-
gest coal miner, CK Power
Pcl (CKP) and Ratchaburi
Electricity Generating
Holding Pcl (RATCH)
are building power plants
in Laos that will supply
electricity to Thailand.
Gunkul Engineering Pcl
(GUNKUL) has power
plant projects in Myan-
mar.
The new trusts will be
backed by revenue from
the infrastructure pro-
jects in those neighbour-
ing countries. At least 70
percent of the total con-
struction must have been
completed for compa-
Vorapol.
Vorapol said he expects
state-controlled compa-
nies such as Airports of
Thailand Pcl, Electricity
Generating Authority of
Thailand and Expressway
Authority of Thailand to
launch initial public of-
ferings for infrastructure
funds. He declined to pro-
vide a timeframe.
Bloomberg
Myanmar Summary
books to trading cards. HansDeryk/Reuters
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vufajymMum;cJhonf/

20. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE 20
Bangkok Bank Touts Bringing Investors
from Around Asia to Myanmar
M
ore than 100
prospective in-
vestors inter-
ested in doing business in
Myanmar recently joined
the “Bangkok Bank Brings
Asia to Myanmar” event
in Yangon.
The organiser, Bangkok
Bank, brought in local
businesspeople from vari-
ous industries, including
food and beverages, ag-
riculture, construction,
tourism and hotels, auto
parts, plastics and chemi-
cals, and design and dé-
cor.
“We are organising
many activities to support
the country’s economic
May Soe San development and help our
customers get to know
the country’s potential
and connect their busi-
nesses here,” Bangkok
Bank President Chartsiri
Sophonpanich said.
“We were one of the lead
sponsors of the Myanmar
Global Investment Fo-
rum, which was held in
Nay Pyi Taw. We took our
SME customers to Myan-
mar to explore business
opportunities. We have
held various seminars
about Myanmar for cus-
tomers, businesspeople
and the general public in
Bangkok.”
The event also included
a visit to the Thilawa Spe-
cial Economic Zone and
local markets, and a semi-
nar that featured speakers
from both Thailand and
Myanmar.
“Knowing that we have
had a representative of-
to 20 years, customers of
our overseas branches,
especially from Japan
and Singapore, have been
asking about Myanmar’s
development and pros-
pects,” Chartsiri said.
“Some of them are keen
to travel to Myanmar to
witness our development
themselves. This trip was
intended to help sup-
port our existing custom-
ers overseas so that they
knowledgeable speakers
about the business pros-
pects in Myanmar.”
The bank aims to engage
in every permitted bank-
ing operation, including
providing loans, if it can
receive one of Myanmar’s
highly-coveted foreign
banking licences, Chaiyrit
Anuchitworawong, ex-
ecutive deputy president,
said.
Bangkok Bank is one
of 25 banks shortlisted
by the Central Bank to
operate in Myanmar. If
selected, it expects to pro-
vide lending services and
for imports, exports and
transactions, Chaiyrit
said at the event.
The shortlisted banks
are from South Korea,
Japan, India, Australia,
France, China, Thailand,
Malaysia, Singapore, and
Vietnam.
The Myanmar Central
Bank is expected to grant
licenses to 5 to 10 banks
in September, where the
selected banks will be
limited to one branch and
permitted to only operate
wholesale banking ser-
vices.
Although the entrance
of foreign banks will pro-
vide technical support to
banks need support and
protection from the Cen-
Myanmar Summarytral Bank to avoid a col-
lapse of the domestic sys-
tem, a local banker said.
Established in 1944,
Bangkok Bank’s total as-
sets as of March were
over $75 billion. It has
more than 1,150 domestic
branches and an interna-
tional network of 27 over-
seas branches. Bangkok
Bank opened a represent-
1994.
Chartsiri said: “Our
long-established pres-
ence in Myanmar means
our people on the ground
have been working for
us for a long time, know
their markets well, and
are ideally placed to sup-
port customers and inves-
tors particularly in the
growing economies of
Southeast Asia.
“Our focus is to pro-
vide services that meet
the needs of our custom-
ers, namely Thai cus-
tomers growing their
international presence;
multinational businesses
with whom we have had a
long and productive rela-
tionship, such as our Chi-
nese customers in Hong
Kong, Taiwan, Singapore,
Indonesia and Malaysia;
and local customers in
countries where we have
a base.”
Myanmar–InvestinginAFarFrontier
F
rontier investors
have been excited
by the opening up of
Myanmar’s market since
its quasi-civilian govern-
ment came to power in
2011, after nearly half a
century of military rule.
But investors also com-
plain that there is very lit-
tle to invest in. This one is
a deep frontier – there is
no real stock market, and
investors have tended not
to go directly into local
companies.
Myanmar is seen as ripe
for business expansion,
given only an estimated
30 percent of the popula-
Carolyn Cohn
tion have access to elec-
tricity, for example. And
the IMF predicts growth
of 8.5 percent in the coun-
try this year, one of the
fastest growth rates in the
world, due partly to rising
gas production.
London-listed All Asia
Asset Capital recently in-
creased its holding in a
Myanmar and Thai-based
and is also invested in a
Thai hospitality and gam-
ing company which has a
resort across the border
in Myanmar.
Frontier investors
across the globe look for
annual double-digit re-
turns in long-term in-
vestments such as private
equity, though there can
be transparency risks in
these small, unlisted com-
panies. In this new mar-
ket of Myanmar, the re-
turns could be especially
attractive, says Sri Hartati
Kurniawan, All Asia Asset
Capital’s CEO, who sees
potential returns in My-
anmar among the best in
the region:
“We are aiming for 20
percent a year – we are
coming in early. We are
taking into consideration
we are investing in a fron-
tier market, there are cer-
tain risks associated with
that.
Myanmar is rushing to
catch up and make itself
attractive to international
investors as a place to do
business, Kurniawan adds.
“There are a lot of things
going on, a lot of property
development, infrastruc-
ture development, they
are building new roads
– I was surprised myself.
Hotels are quite good for
business people.”
But for portfolio inves-
tors restricted to listed
companies or debt, My-
anmar’s borders remain
closed.
According to Wells Far-
go fund manager Antho-
ny Cragg: “There is quite
a lot of private equity in
Myanmar, such as oil and
gas and agricultural prod-
ucts. But there are no di-
rect listed plays.”
Carolyn Cohn works
in London as part of the
Reuters investment strat-
egy editorial team, spe-
cialising in emerging and
frontier markets.
Myanmar Summary
Delegates pose for a photo at the Bangkok Bank event in Yangon.
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21. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE 21
Myanmar Summary
Opponents Seek to Halt Dam Construction on
SE Asia’s Second Longest River
A
ctivists, research-
ers and environ-
mentalists from
Myanmar and Thailand
a way to stop hydropower
dams planned on Myan-
mar’s section of the Sal-
ween River, one of Asia’s
Originating from the
Tibetan Plateau, the Sal-
ween is Southeast Asia’s
second longest river. It
through China, Thailand
and Myanmar to the An-
daman Sea, criss-crossing
many of Myanmar’s eth-
nic minority areas, where
it provides food and jobs.
Campaigners say six
dams in Myanmar, being
developed jointly by Chi-
nese, Thai and Myanmar
investors, threaten the
future of local people and
the rich biodiversity of the
Salween basin. China is
also planning 13 dams on
the upper Salween.
The Myanmar dams,
with a combined power
generation capacity of
around 15,000 mega-
watts, are also located in
zones. This has raised
concerns of renewed or
-
tween the army and eth-
nic rebels over natural
resources, undermining
nationwide peace.
Myanmar’s powerful
military is also involved in
the dam projects. Grow-
ing militarisation, illegal
Thin Lei Win logging, land grabs and
forced labour already af-
fect communities in the
dam areas – and those
who voice opposition are
threatened, say Shan and
Karen campaign groups.
In addition, most of
the electricity produced
would be exported to Chi-
na and Thailand, leaving
little for energy-starved
Myanmar, while ethnic
minorities who are al-
ready marginalised would
be left with a degraded
river and environment.
“There is no local partic-
ipation, no transparency
-
cal people. The dams just
human rights abuses, and
villagers have to relocate,”
said Sai Khur Hseng, gen-
eral secretary of Ethnic
Community Development
Forum (Burma), an alli-
ance of ethnic organisa-
tions across the country.
“How do you measure
the value of what all the
people are relying on?
You cannot measure the
value of culture, religion
(or) biodiversity,” added
Khur Hseng, who is also
coordinator of the Shan
Sapawa Environmental
Organization.
Ethnic groups’
lifeline
Partly due to its remote
location, the Salween Riv-
er is less well known and
populated than the Me-
kong, its big brother. Still,
6 million people, mostly
ethnic and religious mi-
norities, live in the Sal-
southwest China’s Yunnan province.
NirElias/Reuters
ween watershed and de-
pend on the river for jobs
and nutritious food, ac-
cording to WWF.
These minorities are al-
ready neglected in China,
Myanmar and Thailand,
said Pianporn Deetes,
campaign coordinator for
environmental group In-
ternational Rivers (IR) in
Thailand.
“There is no spotlight on
the area and it’s easy for
investors to exploit it. The
voices of the marginalised
ethnic (people) who will
bear the cost of the dams
are not heard,” she said.
A petition with over
33,000 signatures call-
ing for a halt to the dams
was released on March
14, the International Day
of Action for Rivers and
against Dams. Campaign-
ers also raised awareness
during the ASEAN Peo-
ple’s Forum in March, an
event bringing together
civil society from the 10
countries that make up
the ASEAN regional bloc.
“Two months after that,
the building of Kun Long
dam was discussed in
(Myanmar’s) parliament,
and it sounded like they
are going to go ahead,”
said Saw Thar Phoe of Ka-
ren Rivers Watch (KRW).
“Whether they don’t hear
us or they are not listen-
ing, we do not know.”
In September 2011, My-
anmar’s President Thein
Sein suspended the Chi-
nese-led Myitsone dam,
Myanmar’s largest hy-
dropower project, after
weeks of public outrage.
Myitsone is located at
the source of the Ayeyar-
waddy River, considered
a lifeline for the country.
“For the ethnic groups
in the east of Myanmar,
the Salween plays the
same role as the Irrawad-
dy,” said IR’s Deetes.
Legal challenge?
Carl Middleton, a for-
mer campaigner with
IR who now lectures at
Bangkok’s Chulalong-
korn University, said it
was “highly likely” people
living along the Salween
the projects – both mate-
rially and culturally.
“While promises are
often made from dam
developers to support af-
fected communities, the
track record in the region
for livelihood replace-
ment programs is not
good,” said Middleton,
who is organising a re-
search conference on the
Salween in November.
Given that the Salween
dam deals were signed
with the Burmese junta,
who ruled the impover-
ished Southeast Asian
for almost half a century,
Myanmar’s new quasi-ci-
vilian government should
reconsider them, cam-
paigners say.
There is no river basin
authority and no agree-
ment between the coun-
tries on how to develop
and sustain the river,
however, and activists are
now mulling a legal chal-
lenge.
In June, a Thai court ac-
cepted a lawsuit against
the government-owned
Electricity Generating
Authority of Thailand
(EGAT) and four other
state bodies for agreeing
to buy electricity from a
controversial hydropower
dam being built in neigh-
bouring Laos. Activists
say the Xayaburi project
threatens the livelihood
of tens of millions who
depend on the river’s re-
sources.
“Even if we cannot stop
other buyers or funders,
it’s unprecedented that
transboundary impacts
-
nised. We’re working with
the same group of lawyers
for the Salween dams,”
said IR’s Deetes.
EGAT’s international
arm is involved in at least
two out of the six planned
Salween dams in Myan-
mar. Thomson Reuters
Foundation
“
There is no local participa-
tion, no transparency and
no benefit to the local peo-
ple. The dams just lead to
more fighting and human rights
abuses, and villagers have to relo-
cate.”
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a[mif; um;rpf',fwefu qdk
onf/

22. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
22INVESTMENT & FINANCE
Curbing Money Laundering: Acid Test
for Myanmar’s Financial Reforms
L
ast year Myanmar
was urged under in-
ternational pressure
to make progress with
anti-money laundering
-
nancial Action Task Force
(FATF), a watchdog group
that monitors interna-
tional money laundering,
other related threats to
the integrity of the inter-
announced Myanmar has
-
nancial crimes due to the
lack of improvement of
its anti-money laundering
regime and lack of pro-
gress in implementing its
action plan.
Therefore, Myanmar re-
mains on the list as one of
the countries listed with
anti-money laundering
on par with Indonesia,
Ecuador and Algeria.
Due to the absence of a
viable banking system,
many Myanmar citizens
– particularly emigrants
remitting money from
other ASEAN countries to
their family in Myanmar
– have relied on informal
money transfer mecha-
nisms, such as the “hundi
system” in India. How-
ever, underground bank-
ing systems have their
disadvantages, including
the lack of enforcement.
Informal money transfer
systems remain a vital
lifeline for rural families
who live far from any
bank and depend on mon-
ey sent back from family
Stefanie Siegfried &
Franziska Doepel
abroad.
In addition to legisla-
tive reform, there is also
need for more awareness
of possible laundering
-
-
of how to recognise the
-
cial crimes. Without new
reforms Myanmar could
be vulnerable to money
laundering and become a
safe haven for illicit trans-
-
cial crimes.
On March 14, a new law
came into force in order
to counter money laun-
dering. However, Myan-
mar still faces numerous
-
nancial crimes. The 2002
anti-laundering law con-
tained loopholes and was
not in line with interna-
tional standards. But even
with the new law and the
money laundering moni-
toring system, Myanmar
continues to demonstrate
weakness and there re-
mains numerous ways to
circumvent the law. The
new anti-laundering leg-
islation provides for pen-
alties of three to seven
years imprisonment and
($500,000) for money
laundering convictions. It
is also the latest in a series
aim to make Myanmar a
more reputable invest-
ment destination.
But new anti-laun-
dering measures aside,
some of Myanmar’s other
projected reforms could
have the unfortunate con-
sequences of attracting
would-be money launder-
ers. For example, casinos
have long been a feature
of some of Myanmar’s
ethnic militia-controlled
borderlands close to Thai-
land and China. Gam-
bling dens function as a
revenue source for groups
that have fought against
for the last seven decades
even though they remain
banned in areas under
government control. If
regulations are to change
to allow the legal opening
of casinos and gambling
stations, they must be in
alignment with the FATF.
Further, new regula-
tions are essential to pro-
tect Myanmar’s economic
reform process and the
country’s acceptance in
sector. Currently, the Asia
Green Development Bank
(AGD) case is a litmus
test for Myanmar’s bank-
ing and monetary system.
The case became public
after up to 60 percent of
AGD Bank changed hands
from prominent entre-
preneur U Tay Za and his
Htoo Group of Compa-
nies, severing direct own-
ership ties with the bank.
U Tay Za, the founder of
AGD – one of the largest
privately-owned banks in
Myanmar – agreed to sell
60 percent of the bank
to late General Ne Win’s
three grandsons – Kyaw
Ne Win, Aye Ne Win, Zwe
Ne Win. After the secret
multi-billion dollar pur-
chase of AGD Bank, U Tay
Za and the Htoo Group of
Companies are no longer
on the shareholders list.
By suddenly pour-
ing in more than $4 bil-
lion, which Ne Win’s
three grandsons claim is
a friendly interest-free
loan from state-owned
China National Cor-
poration for Overseas
Economic Cooperation
(CCOEC), into Myanmar
they caught the attention
of the Monetary Investi-
gation Department, now
investigating on this case.
A proper and thorough
investigation can show-
case the growing strength
of Myanmar’s banking
and monetary system to
the public and the global
community.
It can be said that with
the enforcement of the
new anti-money laun-
dering law, Myanmar is
showing its willingness
to follow up on its reform
scheme and to provide a
stable basis for economic
and legislative reform to
strengthen its position as
a destination for invest-
ment that adheres to in-
ternational standards.
Strohal Legal Group
-
ing highly personalized
services specializing in
international and cross
border business. SLG en-
joys a well-established
reputation across Europe,
Southeast Asia and the
Middle East. In Myanmar,
SLG provides services un-
der the name U Min Sein
& Strohal Associates Law
Firm. The views and opin-
ions expressed here are the
author’s own and do not
Today’s editorial opinion.
Myanmar Summary
Myanmar Summary
MPTEyesFasterInternetforUsers
M
yanmar Posts
and Telecom-
m u n i c a t i o n s
(MPT) will work together
with Japan’s KDDI and
Sumitomo Corp to pro-
vide high-speed internet
service to its users, an of-
will expand the state-run
company’s communica-
tion networks as well as
work with MPT in the
Kyaw Min coming months to up-
grade the internet infra-
structure to provide faster
services, U Khin Maung
Tun, general manager of
MPT, said.
“We are planning to
lower the sale price of
land lines and expand our
network to popularise us-
age,” he said.
“On the client side,
products with various
data usage allowances
will be marketed to pro-
vide more options to our
customers.”
No.2 Japanese wireless
carrier KDDI and trad-
ing house Sumitomo said
last month that they had
reached an agreement
with MPT to jointly un-
dertake telecommunica-
tions operations in Myan-
mar. The joint operations
touted “Japanese-quality
services of the highest lev-
el in the world” in mobile
-
cation.
It is estimated that less
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than 10 percent of Myan-
mar’s population has ac-
cess to internet with most
using antiquated ADSL
networks.
-
vest about $2 billion over
the next decade to ex-
pand service in one of the
world’s least-connected
countries.
Through the joint opera-
tion with KDDI and Sum-
itomo, MPT hopes to gain
an edge in the emerging
competition with foreign
telecom giants, Ooredoo
and Telenor.
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rsm;jzifhjynfhaeonf/
Reuters

23. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
PROPERTY & REAL ESTATE 23
Myanmar Summary
Marga Banks on Myanmar Reforms
to Foray into Property Development
E
conomic growth
and political re-
form in Myanmar
continues to drive foreign
investment, which ac-
cording to DICA topped
$492.62 million in the
market for luxury proper-
ty and mixed-use real es-
tate development. Despite
the fact that rent contin-
ues to balloon for the av-
erage Myanmar citizen
and the expat community,
in what many analysts be-
lieve to be an unsustain-
able bubble, Myanmar’s
demand and thirst for
luxury accommodations
continues to rise.
These large-scale devel-
opment projects boast the
creation of properties that
meet international stand-
ards to accommodate the
changing face of Myan-
mar, which now attracts
not only the international
business executive but
also Myanmar diaspora
tourists seeking a high
quality, unique and opu-
lent accommodations and
experience.
Amid rapid economic
growth, the backdrop is
forming for the developing
real estate and property
market, which positions
Dagon Center 1 among the
top competitors.
-
ship project of Marga
Landmark Development
Company – is a 22-acre
high-end, mixed-use
property development
that boasts a luxurious
lifestyle experience in the
heart of Yangon. Designed
and built to international
standards, Dagon City 1of-
fers a branded retail zone,
featuring the latest tech-
Aundrea Montaño
and luxury serviced apart-
ments to tap the expanding
business environment and
increasing tourist arrivals.
Marga Landmark Devel-
opment Company – a joint
venture between the global
syndicate, Marga Group
and Thu Kha Yadanar, a
Myanmar company – cre-
ated the ambitious plans
for the exclusive Dagon
City 1 property, which will
be located in downtown
Yangon at U Htaung Bo
Circle.
Marga is yet to an-
nounce when they will
break ground on Dagon
Center 1. The luxury
property is expected to
cost approximately $300
million and is expected to
years of breaking ground.
As one of the earliest
investors in China, Dr
Stephen Suen, chairman
of Marga Landmark De-
velopment Company, said
the growth and reform
process of Myanmar is
tremendous and unique
compared to the opening
of China.
growth in Yangon much
faster than that of China
in the early 1990s,” Dr
Suen told Myanmar Busi-
ness Today in an exclu-
sive interview.
Dr Suen said he remem-
bers when he bought his
“I only received a small
piece of paper to prove
that I was the owner. The
land law was only in its
infancy and there was no
contract law, lawyers or
dispute mechanism.”
With rapid political re-
form and economic liber-
alisation starting in 2011,
and while the country still
needs to pass the Condo
Law and Mortgage Law
– two pieces of key legis-
lation directly impacting
the development of lux-
ury mixed-use properties
– Dr Suen believes Myan-
mar is poised for contin-
ued dramatic growth.
“We already know the
Condo Law is in the pipe-
line. I think the Mortgage
Law is held up because
the balance sheets of My-
anmar banks continue
to lack adequate capital.
However, this is a soft
issue and will likely be
resolved when foreign
banks are allowed to op-
erate in the country.”
According to Dr Suen,
Myanmar’s ability to con-
duct simultaneous politi-
cal and economic reform
has made the country a
favourable destination for
foreign direct investment.
While reforms and eco-
nomic liberalisation con-
tinue, “it presents a great
foundation unseen in any
other emerging market,
including China.” Dr Suen
also sees the government
demonstrating immense
political will and capability
in producing change that
will last into the future.
Marga’s project demon-
strates the dominance of
Asian investors in Myan-
mar. The country’s largest
foreign investors are com-
panies from Singapore,
Hong Kong, Japan, South
Korea, and, of course,
China. While western
countries, in particular the
United States, remain hesi-
tant to invest in the coun-
try, partly due to a belief
that reforms have stalled,
investors from Asian coun-
tries have no qualms with
the country’s political and
economic trajectory.
political and economic
reform, Dr Suen believes
Myanmar’s strategic lo-
cation makes the country
a prime location for ex-
panded investment and
he plans to ramp up in-
vestment in the country.
telecommunications,
and agriculture, he did
not specify what form of
future investments he
might make.
“Myanmar is a very good
location because it shares
a border line with three
big economies: China, In-
dia and the ASEAN states.
It has easy access to the
region, and is home to
nearly half of the world’s
population,” he said.
-
mitted to impact invest-
ment and contributing
to Myanmar’s social de-
velopment. The develop-
ment of Dagon City 1 is
expected to employ over
5,000 individuals.
The company has also
committed to direct two
percent of its annual prof-
its towards corporate so-
in education, the support
of elderly populations
and Buddhist programs.
Dr Suen seeks to multiply
investment impact by en-
couraging other investors
to enter Myanmar for the
-
ple in the country.
Dr Stephen Suen, Chairman, Marga Landmark Development Company.
KyawMin
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xm;onf/

24. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
24

25. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
AUTOMOBILE 25
Myanmar Summary
Myanmar Summary
Toyota Clings to Global Sales Lead Over Volkswagen
T
oyota Motor Corp.
hung onto a slim
global sales lead
over Volkswagen AG
six months as rising U.S.
demand for SUVs paced a
Deliveries for Toyota,
including its Hino Motors
Ltd. (7205) and Daihatsu
Motor Co. units, climbed
3.8 percent to 5.1 mil-
half, according to a com-
pany statement. By com-
parison, Volkswagen has
reported sales of about
5.07 million units, includ-
ing results for its heavy-
truck units.
Japan’s largest listed
from U.S. buyers’ desire
to drive sport utility ve-
hicles, which are on pace
to outsell sedans in the
Rising deliveries of the
new Toyota Highlander
and Lexus GX drove U.S.
market share gains as
Volkswagen posted sales
declines and pledged to
introduce a mid-size SUV
in 2016.
Craig Trudell and
Masatsugu Horie
“They’ve gotten so good
at building products that
really hit with custom-
ers,” said Jim Press, a for-
mer U.S. sales chief and
37-year Toyota veteran
who now consults for the
Renault-Nissan alliance.
“Contrast that to Volk-
swagen: they don’t have
They’ve failed to succeed
in North America because
they don’t really under-
stand it.”
Even so, Volkswagen
is closing the gap with
Toyota. The German au-
tomaker reported about
2.57 million deliveries for
the April-to-June period,
excluding results for its
MAN SE and Scania AB
units, which topped Toy-
ota’s 2.51 million vehicles
sold in the quarter.
Both companies remain
ahead of General Motors
months of the year.
“The result was surpris-
ing,” Yoshiaki Kawano, a
Tokyo-based analyst for
IHS automotive, said of
six months. “The nega-
tax rate wasn’t as big as
we assumed. Their sales
should be aided by the
U.S., where the economy
is good and consumer’s
tastes are shifting from
traditional sedans to pick-
up trucks and SUVs.”
In the U.S., deliveries of
Toyota’s Highlander SUV
surged 17 percent this
year through June, while
sales of the RAV4 crosso-
ver climbed 15 percent.
The automaker also more
than doubled deliveries
of its refreshed Lexus GX
SUV.
Including more fuel-ef-
models, SUVs accounted
for 36.5 percent of U.S.
new-vehicle registra-
tions this year through
May, compared with 35.4
percent for sedans, re-
searcher IHS Automotive
said this month. Sedans,
which held the top spot
for decades, had led 36.6
percent to 33.9 percent a
year earlier.
SUV Advantage
Toyota and Lexus SUV
models outsold Volkswa-
gen and Audi by 7-to-1 in
the U.S. this year through
June, according to re-
searcher Autodata Corp.
the world’s second-largest
auto market, the Wolfs-
burg, Germany-based
company plans to add a
seven-seat SUV to its line-
up in 2016 and build the
model at its Tennessee
factory.
Toyota and Volkswagen
both have forecast more
than 10 million deliveries
for 2014. Toyota sold 9.98
million vehicles last year
to lead the industry for the
second consecutive year,
followed by Volkswagen’s
9.73 million and GM’s
9.71 million. Bloomberg
T
he Customs De-
partment is going
to implement a new
policy beginning on Sep-
tember 1 for automobiles
that have been kept at
the port for more than 60
The automobiles that ar-
rive at the port, before an
Kyaw Min import licence is issued or
updated, are allowed to
be kept at the port tem-
porarily. However, auto-
mobiles stranded at the
port for 60 or more days
auctioned.
“Previously, cars that
were listed for auction
could be withdrawn
through an appeal pro-
cess. But the [process]
will be scrapped and the
Customs Department
will seize all cars left at
the port for more than 60
days,” U Nay Say, mem-
ber of the Customs Clear-
ance Representatives,
told Myanmar Business
Today.
Vehicles seized by the
Ministry of Commerce
and the Customs Depart-
with the proceeds being
added to the state budget
to support development
While car dealers said
the Customs Department
is acting within its regu-
lations, they added that
some car showrooms are
forced to keep their cars
at the port as they face
space problems.
“In cases where the cus-
tomers cancelled orders,
and the showroom did
not have any space for
more cars, the showroom
could not pick up the au-
tomobiles from the port,”
said Ko Lin Sat, manager
of Neon Car Showroom.
Imports of about 2 mil-
lion automobiles have
been permitted during
the 21-month period from
October 2011 to July 2013,
according to the statistics
of the department.
After introducing an
automobile replacement
campaign in October 2011,
the Customs Department
-
mobiles from the port until
-
cial data.
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Bloomberg
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od&onf/

26. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
26IT & TELECOM
Viber Focuses on Myanmar As User Base Shoots
Up to 5 Million in Three Years
I
attended the media
event held by Viber
in Yangon last week.
Viber is the mobile mes-
saging company that was
bought over by Japanese
e-commerce giant Ra-
kuten for $900 million
early this year.
The team led by Crys-
tal Lee, Viber country
manager for Philippines,
showed impressive Myan-
from OnDevice’s research
published in June:
Andrew Tan
Viber’s user base has
increased exponentially
from three subscribers in
February 2011 to 5 million
subscribers in July.
Reinforcing the message
that Viber will always be
free for internet call and
group chat. Crystal em-
phasised that keeping
the user interface simple,
easy to use and adver-
tisement free is the main
reason why Viber has per-
formed exceptionally well
in Myanmar against its
much larger rivals such as
Whatsapp and Wechat. Of
course it helps that What-
sapp and Wechat require
subscribers to authenti-
cate their mobile number
via international SMS
which at the moment can-
not be received by mobile
users in Myanmar due to
the archaic telecom infra-
structure. This situation
will change soon as the
two new telecom opera-
tors Telenor and Ooredoo
launch their mobile net-
work and challenge the
somnambulant ex-tele-
com monopoly MPT.
Viber is hoping to mon-
-
scriber’s base by working
with third party develop-
ers, m-payment platform
and operators to promote
its premium stickers
download service. While
still maintaining a pool
of basic stickers that are
free to download for the
Myanmar market – it
will look to aggressively
increase its revenue via
premium services that are
chargeable.
The challenges Viber
face in the Myanmar
market are: poor telecom
The Viber Internet messaging and calling service application is displayed on a smartphone.
SimonDawson/Bloomberg
infrastructure, slow inter-
net speed, dysfunctional
banking system, low pen-
etration of credit card and
unavailability of online
payment system such as
PayPal or Alipay.
create challenges for for-
eign companies in many
industries that want to
capitalise on the eco-
nomic reform and growth
potential in Myanmar. It
is especially daunting for
big companies that have
existing business model
that works in big coun-
tries like China, US and
Germany but are not will-
ing to make adjustments
for emerging markets like
Myanmar.
I believe the smaller
and agile team from Viber
may have a better chance
of making mobile mes-
growing business in My-
anmar than their bigger
rivals. The fact that they
have showed up in My-
anmar before the telecom
market has opened up
and has already gathered
a testament of the speed
and determination of the
company.
I hope that this time
next year, we will be invit-
ed by Viber again to hear
how they have managed
to make Myanmar their
Andrew Tan is the
Managing Director of
Consult-Myanmar Co
Ltd. Consult-Myanmar
is a Yangon-based Sin-
gapore-owned company
that is incorporated in
Myanmar. Consult-My-
anmar provides busi-
ness advisory, business
partner search, company
incorporation and immi-
gration service to foreign
investors that are inter-
ested to start a business
in Myanmar.
Myanmar Summary
MPTLaunchesDiscountedPromotionalService
S
tate-run telecoms
services provider
Myanma Posts &
Telecommunications
(MPT) launched a one-
month friends and family
(F&F) campaign last week
-
nect with their families at
a discounted rate.
The move came only a
few days before Ooredoo,
one of the two foreign
telecoms licence winner,
launched its mobile ser-
ever international service
provider in the Southeast
Asian country.
The friends and family
special promotion cam-
paign will run until Au-
gust 31st. Prepaid card
users of GSM and WCD-
MA mobile phones will be
able to register and enjoy
Zwe Wai discounts, MPT said in a
statement.
When registered, a cus-
tomer will be charged a
of K2,500 and K25 per
minute for registered
numbers for 30 days after
registering. One can list
up to three phone num-
bers.
only GSM and CDMA
SIM card holders; MPT
said it is also trying to of-
fer the same for CDMA in
the near future.
To subscribe, custom-
ers have to send a free-of-
charge SMS message to
1331, typing “ADD” fol-
lowed by a “space” and the
desired mobile number to
register for the discount.
Customers can get the
promotion details from a
dedicated MPT help line
at 1876.
MyanmartoCooperateWith
ForeignSoftwareCompanies
M
yanma Com-
puter Company
(MCC), Myan-
will cooperate with Ger-
many-based SAP in order
to promote IT sector of
the country.
Liher Urbizu Sierra,
managing director of SAP
Indochina, and chair-
man of MCC Group U
Tin Win Aung signed an
agreement on the use of
SAP Enterprise Resource
Planning software in Yan-
gon last week.
SAP North Consulting
Group, which produces en-
terprise solutions to Micro-
soft, Oracle and other com-
panies and MCC Group,
Aung Phyo will now provide service of
enterprise resource plan-
ning software to the ICT
companies of Myanmar.
training school in Myan-
mar and later incorpo-
rated Myanma Computer
Co Ltd in 1989 to expand
into other ICT-related ac-
tivities .
Myanmar Summary
Myanmar Summary
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27. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
IT & TELECOM 27
F
irst shown to the
public at the Con-
sumer Electronics
Show (CES) in January,
the 105-inch Curved Ultra
HD TV from LG Electron-
ics (LG) became available
for pre-orders last week in
Aung Phyo
LG Announces Start of Sales of Curved Ultra HDTV
South Korea.
The Ultra HD TV’s cin-
ematic 21:9 aspect ratio
LCD screen features 11 mil-
than on a Full HD TV, the
South Korean electronics
giant said, adding that with
such a high pixel density,
images are rendered with a
sharpness and clarity that
is “lifelike”.
The 105UC9 achieves
its picture quality through
LG’s True 4K Engine Pro
and IPS 4K Panel –True
3K Engine Pro eliminates
visual errors and can up-
scale lower-resolution con-
tent into near-Ultra HD
quality, while the IPS 4K
Panel provides consistent
contrast and a wide view-
ing angle.
“The vision behind LG’s
105-inch 21:9 Curved Ul-
tra HD TV was to bring the
movie theatre into the liv-
ing room,” said Min Park,
managing director of LG
Myanmar.
“Featuring a curved 5K
CinemaScope screen and a
7.2 channel speaker system,
the 105UC9 is LG’s most
spectacular ULTRA HD TV
yet. This product pushes
the envelope in home en-
tertainment innovation and
demonstrates what is pos-
sible when you bring today’s
most advanced TV technol-
ogies together.”
LG’s TV delivers audio
through a built-in 7.2 chan-
nel, 150W sound system,
incorporating LG’s Ultra
Surround concept and de-
veloped in partnership with
premium audio products
manufacturer Harman Kar-
don. The curvature of the
display has been carefully
calibrated to maximise the
immersive ambiance. When
viewing programs in 16:9
format, the unused screen
space on the sides can dis-
play additional information
or programming details to
enhance the viewing experi-
ence.
The LG 105UC9 will be
rolled out in other markets
from the fourth quarter,
exact dates of availability
will be announced locally.
Myanmar Summary
Myanmar Summary
Dealers “Soft-Launch” Ooredoo SIM Cards in Myanmar
Mandalay, Nay Pyi Taw see sales of SIM Cards way above official price
M
obile products
dealers in Man-
dalay and Nay Pyi
Taw began selling Oore-
doo SIM cards and top-
up cards on Tuesday last
week, several days ahead
launch of Ooredoo services
throughout Myanmar.
Local Myanmar language
newspaper The Voice Daily
recently quoted Ooredoo
Myanmar’s public rela-
tions manager, Thiri Kyar
Nyo, as saying that Oore-
doo services would be
launched nationwide on
August 2.
Ooredoo has remained
silent on whether these
sales are a part of their of-
press release from Oore-
doo, the launch is expected
to be sometime in the third
quarter of this year. And
recently, Ooredoo sales di-
rector, U MyintZaw, told
Mizzima, “Our SIM cards
are not for sale yet.”
However, Myanmar
Business Today has dis-
covered that mobile prod-
ucts dealers in Mandalay
and Nay Pyi Taw have al-
ready begun selling Oore-
doo SIM cards and top-up
cards, with prices rang-
ing between K1,500 and
K7,000 – far above the of-
of K1,500.
Thiri Kyar Nyo was un-
able to comment on these
Jacob Goldberg sales, saying only, “We are
channels by providing SIM
cards and top-ups to deal-
ers.”
She also said that more
a press conference in Yan-
gon on Saturday, August 2.
U Pyi Soe Htun, direc-
tor of the Lu Kyi Min
mobile products shop in
Mandalay, told Myanmar
Business Today that he
received a delivery of 800
SIM cards from Ooredoo
on Tuesday, and he began
selling them the same day.
He has set aside 200 SIM
cards for individual sales,
free to customers with the
purchase of handsets.
He said that Ooredoo
SIM cards come with 20
free megabytes of mobile
data until August 15, plus
900 free minutes and 900
free text messages to other
Ooredoo users, in addition
to 90 free minutes and 90
free text messages to MPT
users.
U Pyi Soe Htun also ex-
plained that Ooredoo does
not allow dealers to place
additional orders of SIM
cards until 80 percent of
their original stock has
been registered with the
provider.
However, SIM cards can-
not be registered until after
This means that until
there will be a limited sup-
ply of SIM cards available,
even though demand re-
mains high.
Earlier this year, Oore-
doo Myanmar CEO Ross
Cormack told the Oxford
Business Group, “Working
in partnership with other
industry partners with
proven track records will
allow us to provide low cost
smartphones and meet the
promise to provide SIM
cards at a retail price rather
than a black market price.”
However, this limited re-
lease of SIM cards seems
to be making it possible for
-
cantly above retail price.
Nyi Nyi Zaw, a Mandalay
resident, said she bought
her Ooredoo SIM card yes-
terday for K5,000 and saw
others for sale for as much
as K,7000.
These prices are still well
below the current black-
market rate for SIM cards
Myanmar Post and Tel-
ecommunications (MPT),
which can range between
K80,000 and K100,000.
Outside of the black mar-
ket, MPT SIM cards are
distributed only by lottery.
Many question whether
this limited release of SIM
cards in Mandalay and Nay
Pyi Taw was orchestrated
by Ooredoo, and if so, why
it was not publicised.
Ooredoo’s silence has led
to some speculation that
“soft launch” in Mandalay
anti-Muslim sentiments in
the cities on sales – Oore-
doo hails from the Muslim
country of Qatar. In June,
a group of radical Buddhist
monks called for a boycott
of non-Buddhist products
and services, which some
believe is gaining traction.
-
able SIM cards has been
highly anticipated since
Qatar’s Ooredoo and Nor-
way’s Telenor won a com-
petitive tender last year to
service providers to en-
ter the Myanmar market
alongside MPT, which also
plans on releasing its SIM
cards for general sale in
partnership with Japan’s
KDDI.
A woman shows a sim card from Qatar’s Ooredoo after buying it from a phone shop in Yangon.
SoeZeyaTun/Reuters
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onf/

28. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
28
INTERNATIONAL AND DOMESTIC FLIGHT SCHEDULE
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 Airlines
DD4231 1 2 3 4 5 6 7 RGN DMK 8:00 9:45 NOK Airlines 8M336 1 2 3 4 5 6 7 BKK RGN 6:40 7:25 MAI
FD2752 1 2 3 4 5 6 7 RGN DMK 8:30 10:15 Thai AirAsia FD2751 1 2 3 4 5 6 7 DMK RGN 7:15 8:00 Thai AirAsia
8M335 1 2 3 4 5 6 7 RGN BKK 8:40 10:25 MAI TG303 1 2 3 4 5 6 7 BKK RGN 8:00 8:45 Thai Airways
TG304 1 2 3 4 5 6 7 RGN BKK 9:50 11:45 Thai Airways PG701 1 2 3 4 5 6 7 BKK RGN 8:50 9:40 Bangkok Airways
PG702 1 2 3 4 5 6 7 RGN BKK 10:45 12:40 Bangkok Airways FD2755 1 2 3 4 5 6 7 DMK RGN 11:35 12:20 Thai AirAsia
Y5-237 1 2 3 4 5 6 7 RGN BKK 18:05 19:50 Golden Myanmar Airlines PG707 1 2 3 4 5 6 7 BKK RGN 13:40 14:30 Bangkok Airways
TG302 1 2 3 4 5 6 7 RGN BKK 14:45 16:40 Thai Airways Y5-238 1 2 3 4 5 6 7 BKK RGN 21:10 21:55 Golden Myanmar Airlines
PG703 1 2 3 4 5 6 7 RGN BKK 15:20 17:15 Bangkok Airways FD2753 1 2 3 4 5 6 7 DMK RGN 16:35 17:20 Thai AirAsia
8M331 1 2 3 4 5 6 7 RGN BKK 16:30 18:15 MAI PG703 1 2 3 4 5 6 7 BKK RGN 16:45 17:35 Bangkok Airways
FD2754 1 2 3 4 5 6 7 RGN DMK 17:50 19:35 Thai AirAsia TG305 1 2 3 4 5 6 7 BKK RGN 17:55 18:40 Thai Airways
PG704 1 2 3 4 5 6 7 RGN BKK 18:25 20:20 Bangkok Airways DD4238 1 2 3 4 5 6 7 BKK RGN 19:30 20:15 NOK Airlines
TG306 1 2 3 4 5 6 7 RGN BKK 19:40 21:35 Thai Airways 8M332 1 2 3 4 5 6 7 BKK RGN 19:20 20:05 MAI
DD4239 1 2 3 4 5 6 7 RGN DMK 21:00 22:45 NOK Airlines PG705 1 2 3 4 5 6 7 BKK RGN 20:00 21:15 Bangkok Airways
FD 252 1 2 3 4 5 6 7 RGN DMK 8:30 10:15 AirAsia FD 251 1 2 3 4 5 6 7 DMK RGN 7:15 8:00 AirAsia
FD 254 1 2 3 4 5 6 7 RGN DMK 17:30 19:10 AirAsia FD 253 1 2 3 4 5 6 7 DMK RGN 16:20 17:00 AirAsia
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 Airlines
MI509 1 6 RGN SIN 0:25 5;00 SilkAir SQ998 1 2 3 4 5 6 7 SIN RGN 7:55 9:20 Singapore Airline
8M231 1 2 3 4 5 6 7 RGN SIN 8:30 13:00 MAI 8M6231/3K585 1 3 4 5 6 SIN RGN 9:10 10:40 Jetstar Asia
SQ997 1 2 3 4 5 6 7 RGN SIN 10:25 14:45 Singapore Airline 8M232 1 2 3 4 5 6 7 SIN RGN 14:10 15:40 MAI
8M6232/3K586 1 3 4 5 6 RGN SIN 11:30 16:05 Jetstar Asia MI518 1 2 3 4 5 6 7 SIN RGN 14:20 15:45 SilkAir
8M233 5 6 7 RGN SIN 13:45 18:15 MAI 8M235 5 6 7 SIN RGN 19:15 20:45 MAI
TR2827 1 2 3 4 5 6 7 RGN SIN 19:05 23:40 TigerAir TR2826 1 2 3 4 5 6 7 SIN RGN 17:05 18:25 TigerAir
MI517 1 2 3 4 5 6 7 RGN SIN 16:40 21:15 SilkAir MI520 5 7 SIN RGN 22:10 23:35 SilkAir
FFliightts frromm Yangonn (RGN) tto Kualaa Lumpuur (KUL) Fligghtts 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 AirAsia
8M501 1 2 3 4 5 6 7 RGN KUL 8:55 12:55 MAI MH740 1 2 3 4 5 6 7 KUL RGN 10:05 11:15 Malaysia Airlines
MH741 1 2 3 4 5 6 7 RGN KUL 12:15 16:30 Malaysia Airlines 8M502 1 2 3 4 5 6 7 KUL RGN 14:00 15:00 MAI
AK 505 1 2 3 4 5 6 7 RGN KUL 8:30 12:50 AirAsia AK 504 1 2 3 4 5 6 7 KUL RGN 06:55 08:00 AirAsia
AK 503 2 4 6 RGN KUL 19:30 23:45 AirAsia AK 502 2 4 6 KUL RGN 17:50 19:00 AirAsia
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 Airline
BR288 2 5 6 RGN TPE 11:35 17:20 EVA Air BR287 2 5 6 TPE RGN 7:30 10:35 EVA Air
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 Eastern
MU2012 3 6 RGN KMG 12:20 18:10 China Eastern (via NNG) MU2011 3 6 KMG RGN 8:25 11:30 China Eastern (via NNG)
Flligghtss from Yanngon (RGGN) to BBeijing (BJS) Flligghtss from Beijjing (BJSS) to Yanngon (RRGN)
CA906 2 3 4 6 7 RGN BJS 14:15 21:55 Air China (via KMG) CA905 2 3 4 6 7 BJS RGN 8:05 13:15 Air China (via KMG)
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
*PPleaasee noote thee dday change for the deparrture time too Hong Kongg.
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 Airlines
CZ3056 3 6 RGN CAN 11:20 15:50 China Southern Airline 8M712 2 4 7 CAN RGN 14:15 15:45 MAI
CZ3056 1 5 RGN CAN 17:40 22:15 China Southern Airline CZ3055 1 5 CAN RGN 14:45 16:35 China Southern Airlines
FFlighhts ffroom Yanggon (RGN) to Koolkata (CCCU) FFlighhts ffroom Kolkkata (CCUU) to Yaangon (RRGN)
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
AI228 5 RGN CCU 18:45 19:45 Air India AI227 1 5 CCU RGN 10:35 13:20 Air India
AI234 1 5 RGN CCU 13:40 16:55 Air India (via GAY) AI233 5 CCU RGN 13:30 18:00 Air India (via GAY)
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 MAI
AI234 1 5 RGN GAY 13:40 15:00 Air India AI233 5 GAY RGN 15:00 18:00 Air India
Fligghtts frrom Yanngon (RGGN) to TTokyo (NNRT) FFliightts frrom Tokkyo (NRTT) to Yaangon (RRGN)
NH914 1 3 6 RGN NRT 22:00 06:40+1 ALL NIPPON Airways NH913 1 3 6 NRT RGN 11:10 17:05 ALL NIPPON Airways
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 Charter
FMI-B1 1 2 3 4 5 RGN NYT 11:30 12:30 FMI Air Charter FMI-B2 1 2 3 4 5 NYT RGN 13:00 14:00 FMI Air Charter
FMI-C1 1 2 3 4 5 RGN NYT 16:30 17:30 FMI Air Charter FMI-C2 1 2 3 4 5 NYT RGN 18:00 19:00 FMI Air Charter
FMI-A1 6 RGN NYT 8:00 9:00 FMI Air Charter FMI-A2 6 NYT RGN 10:00 11:00 FMI Air Charter
FMI-A1 7 RGN NYT 15:30 16:30 FMI Air Charter FMI-A2 7 NYT RGN 17:00 18:00 FMI Air Charter
FFliightts frrom Yangoon (RGN) to Manndalay ((MDY) FFliightts frrom Manddalay (MDDY) to YYangon (RGN)
Y5-234 1 2 3 4 5 6 7 RGN MDY 6:15 7:30 Golden Myanmar Airlines Y5-233 1 2 3 4 5 6 7 MDY RGN 8:10 9:25 Golden Myanmar Airlines
YH 909 2 4 6 7 RGN MDY 6:30 8:10 Yangon Airways YH 910 1 3 MDY RGN 7:40 10:30 Yangon Airways
YH 917 1 2 3 4 5 6 7 RGN MDY 6:10 8:30 Yangon Airways YH 918 1 2 3 4 6 7 MDY RGN 8:30 10:25 Yangon Airways
YH 727 1 5 RGN MDY 11:15 13:25 Yangon Airways YH 728 1 5 MDY RGN 9:10 11:05 Yangon Airways
YH 731 1 2 3 4 5 6 7 RGN MDY 15:00 17:10 Yangon Airways YH 732 1 2 3 4 5 6 MDY RGN 17:10 19:15 Yangon Airways
W9 501 1 2 3 4 RGN MDY 6:00 7:25 Air Bagan W9 502 1 2 3 4 MDY RGN 16:10 18:15 Air Bagan
K7 222 1 2 3 4 5 6 7 RGN MDY 6:30 8:40 Air KBZ K7 223 1 2 3 4 5 6 7 MDY RGN 9:00 11:05 Air KBZ
YJ 201 1 2 3 4 5 6 7 RGN MDY 11:30 12:55 Asian Wings YJ 202 1 2 3 4 5 6 7 MDY RGN 16:00 17:25 Asian Wings
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
Y5-234 1 2 3 4 5 6 7 RGN MDY 6:15 7:30 Golden Myanmar Airlines Y5-233 1 2 3 4 5 6 7 MDY RGN 8:10 9:25 Golden Myanmar Airlines
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
Mann Yadanarpon Airlines

29. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
IT & TELECOM 29
Myanmar Summary
Myanmar Summary
These Two Social Networks Will
Make You Money
F
acebook recently
reported massive
earnings for the past
three months, claiming it
rakes in almost $1 billion
every 30 days. But for
all that generated, none
of it ever touches the us-
ers’ pockets, something a
handful of entrepreneurs
are looking to change.
In July, two new social
networks launched pub-
licly with the same goal:
to put money in the pock-
ets of the users with the
best content. Both Bonzo
unique ways for their us-
ers to make a buck for the
content they share.
Bonzo Me dishes back
to users up to 80 percent
of the advertising revenue
on user generated posts,
the Associated Press re-
ports. The iOS, Android,
and web app launched
earlier in July and has a
few thousands users who
Joey Cosco altogether have netted
around $30,000.
Bubblews began a beta
version of the service
in September 2012 and
clocked around 200,000
launching two weeks ear-
lier, the AP says. This app
gives users one penny for
every click, like, or com-
ment their posts score,
but only in $50 chunks.
“No one should come
to our site in anticipation
of being able to quit their
day job,” Bubblews CEO
Arvind Dixit told the AP.
“But we are trying to be
fair with our users. Social
networks don’t have to be
places where you feel like
you’re being exploited.”
This could not only be
a dig at Facebook, but
also at sites like YouTube,
which pays its partnered
users with sliding scales it
doesn’t like to break down
into detail.
If anything, the two apps
are more like Vine, whose
top earners largely make
money by acquiring and
plugging sponsors into
6-second videos. With
Bonzo Me and Bubblews,
however, the advertisers
are already there, leaving
only content decisions up
to users. That makes for
a diverse selection with
Bubblews users posting
diary entries, recipes,
phone reviews, and even
thoughts on the inner
workings of the Bubblews
community.
“With the recent shut-
downs of various writing
websites, like Yahoo Con-
tributor Network, I think
this has also contributed
to the rise of accounts. I
think this has a possibil-
ways,” Bubblews user
&Bellatricks wrote.
“I really hope that more
people will equal more
money and not the other
way around.”
Business Insider
Flickr/CourtneyCarmody
Ideabox Myanmar to Bring Together Students and
App Professionals to Drive Future Partnerships
I
deabox Myanmar an-
nounced the launch of
AppBus and ideabox
App Competition 2014,
two initiatives designed
to kickstart the mobile
application ecosystem in
Myanmar.
AppBus and the AppBus
Competition 2014 aims to
encourage greater inter-
action between students
and professionals work-
ing in the mobile appli-
Kyaw Min cation industry, Ooredoo
Myanmar, which is be-
hind Ideabox, said.
“The objective of App-
Bus and the ideabox App
Competition is for us to
introduce students to the
heart of the mobile tech-
nology and digital services
industry in Yangon,” said
Kaung Sitt, co-founder of
ideabox Myanmar.
“Innovation is critical
to us all staying ahead of
the wave of technological
advances in the mobile
industry. Nowhere is this
more true than in Myan-
mar where the country
is currently leapfrogging
into an era of new tech-
nology.
“This tour and compe-
-
portunity for students
to get a real-life glimpse
into the lives of software
developers and entrepre-
neurs here, so they can
expand their understand-
ing of what future career
options are available to
them.”
Late last month an “Ap-
pBus” hosted up to 15 stu-
ever mobile application
technology enthusiasts’
tour of Yangon technolo-
gy startups, including vis-
-
nomation, Rebbiz and
Code2lab.
During the AppBus
tour, participants met
the founders of Myanmar
mobile application de-
velopment companies to
hear about the idea gen-
eration process behind
the development of these
apps.
Additionally the app de-
velopment competition
aims to give students and
working professionals the
opportunity to work on
digital service ideas they
are passionate about.
Submissions for ide-
abox App Competition
2014 will close on Sep-
tember 29 at 23:59, and
all entries should be sub-
mitted via email at app-
scomp2014@ideabox.
com.mm.
Only Android apps will
be accepted, while the
apps will be judged based
on usefulness, functional-
ity, technical sophistica-
tion and commercial vi-
ability.
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30. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
SOCIAL SCENES 30
Launchingceremonyof 2014TaiwanexcellencecampaigninMyanmar
Walter Yeh, Executive Vice President, Taiwan External Trade Develop-
ment Council (TAITRA).
Walter Yeh, Executive Vice President , Taiwan External Trade Development
Council (TAITRA), gives his speech at the event.
Chiu, Director of Economic Division, Taipei Economic and Cultural Office
in Thailand, giving a speech at the event.
U Thein Han , Vice President of UMFCCI, gives a speech at the event. Delegates pose for a photo at the event. Delegates pose for a photo at the event.
Event of CB Bank’s
AgentBanking
Ah Yaing, master of ceremony at the event. Htun Htun Minn
Dr Aung Thura , CEO of Thura Swiss. Htun Htun Minn Ni Ni Khin Zaw. Htun Htun Minn
U Kyaw Lwin, executive vice chairman & CEO of CB bank.
Htun Htun Minn
U Myo Myat Thu, project director of Forever group. Htun Htun Minn
Viber & the Vibrant Mobile Communication Landscape in Myanmar
Crystal Lee(L), Philippines country manager.Anthony, Zagar communications. Crystal Lee, Philippines country manager.

31. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
CLASSIFIEDS 31

32. August 7-13, 2014
Myanmar Business Today
mmbiztoday.com
32ENTERTAINMENT
NewKhiriTourLinksTwoAncientKingdomsinMyanmarA new six-day adventure trip between Bagan and Mrauk U is for travellers who are comfortable with no electricity or phones along the way
K
hiri Travel Myan-
mar has launched
a trip that links the
two ancient kingdoms of
Bagan and Mrauk U in
Myanmar, the Bangkok-
based tour company said.
bring travellers to the
Mrauk U area via this
challenging route to the
far west of the country
through the Chin and
Arakan ranges.
fantastic scenery, remote
Chin villages, planta-
tions, jungle, boat rides,
two days of reasonably
strenuous hiking, and a
glimpse into a rich living
history that few people
outside of Myanmar have
seen.
Edwin Briels, Khiri
Travel Myanmar general
manager, describes the
facilities during much of
the trip as “basic” – local
houses with mosquito
nets and blankets, and
washing facilities either
at the communal well or
Aung Phyo in the river. Food
will be simple local
dishes prepared by
the guide.
After Bagan,
highlights include a
4WD trip through
dry mountain riv-
erbeds where there
are no bridges and
a two-hour hike
to the top of Mt
Kanpetlet (formerly
Mt Victoria) at
over 3,000 metres.
Visitors can also swim in
the seven-tiered waterfall
at the source of the Lay
Myo river amid forested
mountains.
Between Matupi and
Amsway, visitors get to
test their mettle further
with a 22km hike and
an overnight in a local
house, sleeping on bam-
boo mats.
Further on between Ma
Du and Law Thu in a day
with a 29km walk, visi-
tors may see local women
with their faces fully tat-
tooed – an old habit said
to make them look too
bizarre to be abducted by
kings of the former Bagan
empire.
Like many other Asian
adventure trips, the jour-
ney includes a boat ride,
this one on the Lay Myo
river all the way from
Chin state to Rakhine
state. The boat navigates
from mildly turbulent
white water down to the
calmer waters of the val-
ley where the river opens
out into the fertile valley
where the archaeological
ruins of Mrauk U await
inspection.
The area is rich in
historic remains from
the 14th to 18th centuries
when Mrauk U was the
capital of the Arakanese
empire, which stretched
Burma Boating Expands
Fleet for Myeik Cruises
Y
acht charter operator Burma Boating is expanding
With the beginning of the coming sailing sea-
son in late October, SY Sunshine and SY Adventure will
cruise the Myeik Archipelago under Burma Boating’s
SY Aventure is a 95ft yacht with three double cabins.
The schooner SY Sunshine (103ft) was built to the design
drawn up by famous naval architect William Fife Jun.
In 1906, the original Sunshine was in the possession of
the Portuguese Royal family, during which time she was
called “Maris Stellis”. Sunshine has space for six guests.
The Myeik Archipelago in Myanmar’s south remains
one of the planet’s most unspoilt destinations.
“Sometimes we sail for days without seeing any other
yachts or tourists,” says Herbert Mayrhauser, Burma
Boating’s co-founding captain.
The 800 islands only recently opened to foreign visi-
tors.
There are no hotels and only about 2,000 foreign tour-
ists per year, even though the area is only a three-hour
drive away from Phuket, one of Asia’s tourism epicentres.
The traditional inhabitants of the Myeik Archipelago
Sometimes called “sea-gypsies”, this ethnic minority
group leads a traditional, semi-nomadic lifestyle, domi-
charters, sailing holidays and boutique cruises on its four
yachts with space for six to 12 guests.
Customers can book a cabin and join one of the weekly
six-day cruises for €1,800 per person. For small groups
charters, starting from €1,400 per day.
Wai Linn Kyaw
from the Ganges to the
Ayeyarwaddy (Irrawad-
dy).
Briels said: “The jour-
ney is the destination. We
link Bagan to Mrauk U
through incredibly beau-
tiful, remote and unex-
plored areas where guests
will most likely be among
to set foot in the village.
“Both Bagan and Mrauk
U each deserve an addi-
tional two or so days for
detailed exploration.”
From Mrauk U it is easy
to take a boat to Sittwe
for onward domestic
go to the beaches of Nga-
pali for relaxation.
The fabled temples of MraukU.
KhiriTravels