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Soe Zeya Tun/Reuters

Soe Zeya Tun/Reuters MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL December 12-18, 2013 | Vol 1, Issue


December 12-18, 2013 | Vol 1, Issue 45

Government to Look to International Companies on Dawei

Government to Look to International Companies on Dawei  

Italian-Thai Development’s role halted but not over, officials say

Oliver Slow

by ITD and that once this was invited to apply for licenses. “No company in the whole

M yanmar will open

tenders for interna-

tional companies to be

involved in the Dawei Special Economic Zone (SEZ), after it was revealed last week that Italian-Thai Development, the group initially responsible for the main development of the site, will no longer be key driv- ers of the project. Speaking at a press confer- ence in Yangon last week, U Aye Myint, chairman of the Dawei project said that two companies formed by the Myanmar and Thailand governments, named Special Purpose Vehicle (1) and (2), would take a lead role in the multi-million dollar development. He added that due to the sheer scale of the development, which involves building a deep-sea port and key infrastructure, international companies would be invited to apply for tenders on the project, including ITD. “They can keep working if they want, but they will have to compete with other interna- tional observers,” he said. U Set Aung, chairman of the Dawei zone, said that the com- mittee was undergoing a review of the work already completed


Contd. P 8


Myanmar Summary


xm;0,ftxl;pD;yGm;a&;ZkefwGif yg0if





wif'gac:qdkoGm;rnfjzpfaMumif; onf/





Italian-Thai Development




A man carries a sack of rice on the banks of Yangon River. The government has set targets to increase rice export and catch up with neighbouring countries Thailand, Vietnam and Cambodia.


tvJrsm; jyKvkyfcJhum tjynfjynfqdkif&m

Myanmar Looks to Double Rice Export

ukrÜPDrsm;tm; wif'gac:qdkNyD; pDrHudef;


yg0ifaqmif&Gufa&;twGuf BudK;yrf;

aqmif&GufoGm;awmhrnfjzpfonf/ xm;0,fpDrHudef;\ Ouú|jzpfol

OD;at;jrifhu &efukefü jyKvkyfcJhaom


owif;pm&Sif;vif;yGJwGif ESifh xdkif;tpdk;&wdkYrS

jrefrmtpdk;& ukrÜPD 2 ckudk


Kyaw Min

million tonnes per year. By to 15,000 tonnes, according to Agriculture (USDA) and while there has been some increase in export – it exported 690,000 tonnes last year, making it the ninth largest exporter in the world – the country still has a


Myanmar Summary


zGJUpnf;cJhNyD; tqdkygukrÜPDESpfckrSm Special


C urrently the basket case,

Myanmar was once the

rice bowl of Asia.


,cifu jrefrmEdkifiHonf tm&SwGif qefwifydkYrIxdyfwef;EdkifiHwpfEdkifiHjzpfcJh onf/ 1961 ckESpfrS 1963 ckESpfqdk&S,f vpftpdk;&vufxufwGif jrefrmEdkifiH\ pD;yGm;a&;onf zGHUNzdK;wdk;wufrIrsm;pGm usqif;cJh&onf/,cifu urÇmhxdyfwef;

Purpose Vehicle (1) ESifh Special Purpose Vehicle (2) jzpfNyD; a':vm

rDvD,Haygif;rsm;pGm wefzdk;&Sdonfh xm;0,f pDrHudef;zGHUNzdK;wdk;wufrItwGuf OD;aqmif í aqmif&GufoGm;rnfjzpfaMumif; ajym Mum;cJhonf/

From 1961 to 1963, around the time the country was taken over by a Socialist government which depleted the once- thriving economy, Myanmar was the world’s largest exporter of rice, shipping around 1.7


Contd. P 8

Contd. P 6

Contd. P 6

was the world’s largest exporter of rice, shipping around 1.7     Contd. P 8 Contd.



December 12-18, 2013


Myanmar Business Today

MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL Board of Editors Editor-in-Chief - Sherpa Hossainy Deputy Editor -
Board of Editors
Editor-in-Chief - Sherpa Hossainy
Deputy Editor - Oliver Slow
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Tel: 951-2301568, 951-2301569, 951-2301570
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Fax: (662) 6158634 TheinSeinMakesMaiden PhilippinesVisit a harsh critic of Myan- mar’s former military government,

a harsh critic of Myan- mar’s former military government, but the two countries have softened ties since Myanmar began making reforms to tenta- tively work towards a fully democratic system. Thein Sein also visited areas ravaged by the re- cent Typhoon Haiyan that ripped through the coun- try last month, leaving an estimated 5,000 dead and many others still missing. Myanmar was one of about 60 countries to give aid to the country in the wake of the crisis, with

Philippine Foreign Sec- land disputes. According

to some reports, the Philippines and Vietnam are expected to bring

Su Su

$100,000 as well as seven tonnes of food and other relief goods. During his visit, Thein Sein brought additional aid. During his talks with Aquino, Thein Sein discussed Myanmar’s hosting of ASEAN in 2014 and it is thought that he seeked support for the hosting. A close ally with China, Myanmar’s navigation of that relationship will be crucial in the near future as a number of ASEAN members are at logger- heads with China over

The visa agreement is expected to allow Filipi- nos to enter Myanmar without gaining a visa

his maiden visit to the archipelago. During his three-day visit, Thein Sein met his Philippine counterpart, Benigno Aquino III, in an attempt to bolster ties and also discuss trade, investment, agriculture and visa-exemptions.

P resident Thein Sein visited the Philip- pines last week,

can already enter the Philippines visa-free. The Philippines were

retary Albert del Rosario saying that Myanmar’s aid had reached about

up their grievances with China during the ASEAN meetings next year.

Myanmar Summary

jynfaxmifpkor®wjrefrmEdkifiH awmf EdkifiHawmfor®wOD;odef;pdef onf vGefcJhonfhtywfu zdvpf ydkifEdkifiHodkY oGm;a&mufcJhNyD; yxr OD;qHk;zdvpfydkifc&D;pOfvnf;jzpf aMumif; od&onf/ or®wOD;odef;pdefonf zdvpfydkif EdkifiHodkY oHk;&ufwm oGm;a&muf cJhNyD; zdvpfydkifor®w Benigno Aquino III ESifh awGUqHkcJhum ESpfEdkifiHqufqHa&;zGHUNzdK;wdk;wuf vmap&efESifh ukefoG,frI? &if;ESD;

jr§KyfESHrI?pdkufysKd;a&;u@ESifh ADZm uif;vGwfcGifhqdkif&m udpö&yfrsm; udkvnf; aqG;aEG;cJhMuaMumif; od&onf/ ADZmuif;vGwfcGifhoabmwlnD csuftaejzifh zdvpfydkifEdkifiHom;






jrefrmEdkifiHom;rsm;taejzifhvnf; zdvpfydkifEdkifiHodkY ADZmrvdktyfbJ oGm;a&mufvmEdkif&efjzpfaMumif; od&onf/

zdvpfydkifEdkifiHtaejzifh ,cif ppftpdk;&vufxufwGif jrefrm EdkifiH qufqHa&;tajctae raumif;rGefcJhaomfvnf; ,cktcg


rsm;aMumifh ESpfEdkifiHqufqHa&; tajctaerSm ydkrdkaumif;rGefvm cJhNyDjzpfonf/ or®wOD;odef;pdef onf cefYrSef;ajcvlaygif; 5000 eD;yg;aoqHk;NyD; rsm;pGmaysmufqHk; aeqJjzpfonfh [dkif,ef;wdkif;zGef; rkefwdkif;oifha'orsm;odkYvnf; oGm;a&mufcJhaMumif;vnf; od& onf/


[dkif,ef;wdkif;zGef; rkefwdkif;oifha'orsm;odkYvnf; oGm;a&mufcJhaMumif;vnf; od& onf/ jyKjyifajymif;vJrI

December 12-18, 2013


Myanmar Business Today

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December 12-18, 2013


Myanmar Business Today

SME Centres to Open to Aid Growth

SCGProvidesEducation Assistance to Students

Kyaw Min and Htet Aung than also support local em- ployment,” said U Win Aung,

ment to encourage their growth. “For the development of our country’s economy, allowing term is vital,” said U Mya Theik an entrepreneur with an SME- employ fewer than 25 people should be allowed tax exemp- tion,” he added. The SME law is expected to

S mall and Medium Enter- prise (SME) Centres will open in Myanmar’s major

chairman of Federation of Chambers of Commerce and In- dustry (UMFCCI). “Therefore,

Oliver Slow

State. SCG also rewarded students who received scholarships in 2012, and went on to do well in the following academic year, with additional grants in recognition of their academic achievements. SCG Sharing the Dream is SCG’s ASEAN sustainable de- velopment initiative and it has granted scholarships to more than 5,000 students in ASEAN countries, including Myanmar, Indonesia, Thailand, Vietnam, Philippines, and Laos.

S iam Cement Group (SCG) last week awarded educa- tion assistance to 100 high

school students in Mon State as part of its SCG Sharing the Dream Programme, which is in its second year in the country. The award ceremony, which was hosted at the Strand Mawlamyine Hotel, recognised students, SCG said, who had proactively contributed to their communities and exhibited good academic records, with each student receiving funding of up to K200,000 ($$200), to cover their school fees and supplies. “Education is essential to- wards ensuring that children will grow up to form new generations of ASEAN citizens who are ethical and knowledge- able in the future,” said Chana Poomee, country director, SCG Myanmar. “On behalf of SCG, I would like to congratulate our young scholars who received the grants today. I believe that they deserve a bright future and hope that they will pursue higher education and use their talents to support their families and communities,” he added. Last year’s programme of- fered 99 grants to students from Yangon, Mawlamyine and Kyike Mayaw, but that number has doubled in 2013, in what is SCG’s centenary year. In October, SCG invited high school students in 9 Standard (Grade 10) and 10 Standard (Grade 11) and living in Yangon and Mon state to apply for the chance to be included in the scholarship, with students se- lected from Mawlamyine, Kyike Mayaw, Mudone, Paung and Chaung Sone townships in Mon


cities to aid the development of

the sector, which is seen as key to the economy’s growth.

the growth of SMEs is vital,” he said, before adding that a key role for the government is to

establish an SME law.

open in the capital city of Nay Pyi Taw, with further openings expected in early 2014.

SMEs make up more than 90 percent of registered companies

“SMEs do not only play a key role in the state’s progress, but

within Myanmar, and local businesspeople involved in the

sector are urging the govern-

be implemented in early 2014, sources say.

and local businesspeople involved in the sector are urging the govern- be implemented in early 2014,

Myanmar Summary





onf vGefcJhonfhtywfu rGefjynfe,f &Sd xl;cRefausmif;om;aygif; 100 tm; ynmoifMum;rIqdkif&m taxmuftyHh

rsm;udk ay;tyfcJhNyD; SCG Sharing the

Dream Programme


wpfpdwfwpfydkif;tjzpf taxmuftyHh rsm; ay;cJhjcif;jzpfaMumif; od&onf/





[dkw,fwGif jyKvkyfusif;ycJhNyD; xl;cRef

ausmif;om;rsm;taejzifh wpfOD;vQif jrefrmusyfaiG 200000 txd &&SdoGm; rnfjzpfNyD; ausmif;p&dwfESifh tjcm; taxmuftyHhrsm;twGufjzpfaMumif; SCG rS ajymMum;cJhonf/ tem*wfwGif udk,fusifhw&m;aumif;rGef NyD; A[kokw<u,f0aom rsKd;qufopf rsm;tjzpf jzpfwnfvma&;twGuf ynm a&;rSm vGefpGmta&;ygaMumif; SCG Myanmar rS tBuD;tuJjzpfol Chana Poomee u ajymMum;cJhonf/ vGefcJhonfhESpf\ tpDtpOfwGif &efukef? armfvNrdKif? usKdufra&mwdkYrS xl;cRef ausmif;om;rsm;twGuf ynmoifqkaMu; rsm;udkvnf; ay;tyfcJhNyD; 2013 ckESpf wGif ynmoifqkaMu;ta&twGufrSm ESpfqrQ ydkrdkrsm;vmcJhaMumif; od&onf/

Myanmar Summary

ESifh c½dkifrsm;wGif wdk;csJUzGifhvSpfoGm;rnf jzpfaMumif; od&onf/ tao;pm;ESifhtvwfpm;zGHUNzdK;wdk;wuf a&;XmerS wm0ef&SdolwpfOD;u ]]tiftm; wdk;csJUzGJUpnf;rIu 2014 ESpfqef;ydkif;rSm pwifrSmyg/vuf&Sdtiftm;&JU ESpfqeD;yg; avmufjzpfvmrSmyg}}[k ajymonf/ ,if;uJhodkY yl;aygif;vdkufjcif;tm;jzifh tao;pm;ESifh tvwfpm;vkyfief;rSwfyHk wifjcif;? enf;ynmtultnD&,ljcif; rsm;udk aqmif&GufoGm;rnfjzpfaMumif; od&onf/ukefonfpufrIvkyfief;&Siftoif;

Ouú| OD;0if;atmifu ]]tao;pm;ESifh tvwfpm;vkyfief;awGuwdkif;jynfpD;yGm; a&;wdk;wufrItwGuf t"dutcef;u@ rSm yg0ifaewJhtjyif jynfwGif;tvkyf tudkif&&Sda&;twGufvnf; ta&;ygwJh ae&mrSm yg0ifaewJhtwGuf SME vkyfief;awG zGHUNzdK;wdk;wufzdkY ta&;BuD; w,f/ SME Oya'udkvnf; wdkif;jynf wdk;wufzdkY ta&;BuD;Oya'wpfcktaeeJY apmvsifpGm jy|mef;ay;zdkY vdktyfygw,f}} [k ajymonf/

tao;pm;ESifh tvwfpm;pD;yGm;a&; vkyfief;rsm; zGHUNzdK;wdk;wufa&; taxmuf tuljyKap&ef tao;pm;ESifhtvwfpm; zGHUNzdK;wdk;wufa&;pifwmudk jrefrmwpf EdkifiHvHk;&Sd NrdKUBuD;rsm;wGif wdk;csJUzGifhvSpf oGm;rnfjzpfaMumif; od&onf/ ,if;odkYwdk;csJU&eftwGuf pufrIBuD;Muyf a&;ESifh ppfaq;a&;OD;pD;XmewdkY yl;aygif; aqmif&GufoGm;rnfjzpfNyD; aejynfawmf aumifpDwdkif;a'oBuD;? jynfe,fNrdKUrsm;

ppfaq;a&;OD;pD;XmewdkY yl;aygif; aqmif&GufoGm;rnfjzpfNyD; aejynfawmf aumifpDwdkif;a'oBuD;? jynfe,fNrdKUrsm;



December 12-18, 2013


Myanmar Business Today

Myanmar ‘Ready’ to Host SEA Games Myanmar ‘Ready’ to Host SEA Games A worker outside the Wunna Teikdi Stadium in Nay

A worker outside the Wunna Teikdi Stadium in Nay Pyi Taw.

Aung, 6,000 athletes and 3,000 journalists are due for the games, as well as “hundreds of thousands” of local fans. The majority of events will take place

Southeast Asian Games,

- in Nay Pyi Taw, while for-

way in the capital Nay Pyi Taw on December 11. Htay Aung, sports min- istry director, told AFP

take place in Ngwe Saung.

had successfully been held and that the country, which is only just emerg- ing from 50 years of military rule, is ready to hold the event - the big- gest sporting event in the country’s history. The tournament, which brings together athletes from Southeast Asia’s ten-member countries, was handed to Myanmar in 2010, shortly before the government began introducing a range of economic and political reforms aimed at pulling the country from decades of stagnation. It left a country with little infrastructure that has struggled to cope with the sudden surge of interest from overseas visitors who have been intrigued by the unique changes taking place in the country. However, the tourna- ment has given the government an incentive to invest heavily in infra- structure in the capital. One example is the newly built Wunna Theikdi Stadium, located in Nay Pyi Taw, a 30,000 seat football and athletics stadium, which hosted the opening ceremony. According to Htay

mer capital Yangon will host some events such as Chess and Weightlifting, and Sailing events will

Oliver Slow

M yanmar is “100

percent ready”

to host the

Mandalay will also host some football matches. The Games, which are the 27 th version of the event, are seen as an op- portunity for Myanmar to showcase that it is able to cope with the increased at- tention that it is receiving. Vice President Nyan Tun has urged athletes to “strive for a golden age of Myanmar sports… im- proving the reputation of the country and making history to be regarded as sporting heroes.” Despite the overall opti- mism, some government concerned about the country’s ability to host the event, according to the AFP report. “There are many things to be done even though many ministries are in- volved,” said one govern- not to be named. “Hotel rooms cannot be enough because many foreigners and visitors will come,” he told AFP. Myanmar’s hosting of the Games has already from rival countries who have criticised the deci- sion to drop some more mainstream sports and replace them with ob-

scure Myanmar pursuits such as Chinlone, while some international ob- servers remain concerned about ethnic violence that

continues to take place in the country. It was announced that eleven new hotels had opened in Nay Pyi Taw last week, in time for the games. The hotels were named as Mya Nan Yang, ACE, Thurizza, Jade Royal, Aye Chan Thar, Pearl Thiri, Excel Capital, Mahn Myanmar, Mingalar Thiri, New Ayar and Jade City.

Myanmar Summary

jrefrmEdkifiHtaejzifh ,cktcg

ta&SUawmiftm&Stm;upm;yGJ awmftm; {nfhcHusif;y&eftwGuf 100 &mcdkifEIef;tjynfh tqifoifh jzpfaeNyDjzpfaMumif; od&onf/ aemufqHk;tprf;avhusifrIrsm; taejzifh atmifjrifpGm jyKvkyfEdkifcJh aMumif;? ppftpdk;&tkyfcsKyfrIvuf atmufwGif ESpfaygif; 50 eD;yg; MumjrifhcJhNyD; tajccHtaqmufttHk

ydkif;wGif tm;enf;aeao;aom jrefrmEdkifiHtaejzifh zGHUNzdK;wdk;wuf rIvrf;aMumif;ay:odkY a&muf&Sdvm cJhum ,cktcg qD;*drf;NydKifyGJBuD; tm; usif;yjyKvkyf&ef tqifoifh jzpfaeNyDjzpfaMumif; tm;upm; 0efBuD;Xme 'g½dkufwmOD;aX;atmif u AFP odkY ajymMum;cJhonf/ qD;*drf;tm;upm;NydKifyGJwGif


rS tm;upm;orm;rsm; a&muf&Sd vmrnfjzpfNyD;vuf&Sdtpdk;&\pD;yGm; a&;ESifh EdkifiHa&;jyKjyifajymif;vJrI rsm;udk jyKvkyfum zGHUNzdK;wdk;wufrI &yfwefYaeaom jrefrmEdkifiHtm; ouf0ifEdk;xvmEdkifap&ef BudK;yrf; csufrsm;aMumifh qD;*drf;tm;upm; yGJawmftm; jrefrmEdkifiHwGif usif;y jyKvkyfcGifhudk &&SdcJhjcif;yifjzpfonf/ zGHUNzdK;wdk;wufrIydkif;wGif tm;enf; cJh&aomjrefrmEdkifiHtaejzifhtajc cH taqmufttHku@wGifvnf; vdktyfcsufrsm;pGmudk &ifqdkifae& NyD; jrefrmEdkifiHtm; pdwf0ifpm;ae aom &if;ESD;jr§KyfESHolrsm;udk qGJ

aqmifEdkif&eftwGufvnf; tajccH taqmufttHkvdktyfcsufrsm;udk jznfhqnf;&ef BudK;yrf;aqmif&Guf aeonf/ qD;*drf;tm;upm;yGJawmftm; atmifjrifpGmusif;yEdkifa&;twGuf tpdk;&taejzifh tajccHtaqmuf ttHku@wGif &if;ESD;jr§KyfESH&ef twGuf wGef;tm;udk jzpfapcJh onf/zGifhyGJtcrf;tem;udk usif;y cJhonfh xdkifcHkaygif; 30000 txd &Sdonfh 0PÖod'd¨tm;upm;uGif;BuD; udkvnf; aejynfawmfü aqmuf vkyfcJhonf/OD;aX;atmif\ ajym Mum;csuft& tm;upm;orm; aygif; 6000 ESifh *sme,fvpf aygif; 3000 wdkYonf tm;upm; NydKifyGJwGif yg0ifrnfjzpfNyD; jynf wGif;rS tm;ay;olrsm;pGmudkvnf; awGUjrif&rnfjzpfaMumif;? t"du tm;upm; tpDtpOf rsm;tm; aejynfawmfwGif jyKvkyfusif;y oGm;rnfjzpfovdk&efukef?aiGaqmif ESifh rEÅav;NrdKUrsm;wGifvnf;jyKvkyf usif;yoGm;rnf[k od&onf/

jyKvkyfusif;y oGm;rnfjzpfovdk&efukef?aiGaqmif ESifh rEÅav;NrdKUrsm;wGifvnf;jyKvkyf usif;yoGm;rnf[k od&onf/



December 12-18, 2013


Myanmar Business Today


Regional observers say yes, but skepticism within country

Oliver Slow

T he anti-government

protests that took place

in Bangkok and other

protests that took place in Bangkok and other for a long time, or there was an-

for a long time, or there was an- other coup, then over the years you could potentially see Myan- Thet Zin, founder of Living Irrawaddy Travel Service, also expressed reservations on the long-term impact of the Thai- land situation on Myanmar’s tourism, adding that it could have a negative impact on tour- ists to Myanmar getting visas. “Myanmar doesn’t position itself as a cheap country to visit [like Thailand], so we do not think that Thailand’s is- sue will have a big impact on Myanmar. In fact, we are quite

disappointed that this whole

from long-term instability in

incident could actually delay the visa agreement between Thailand and Myanmar, which was supposed to begin this month,” she said, referring to an agreement touted to begin in

the protests could have on the country’s tourism market. “Myanmar is too much of a niche destination at this stage

lender, founder of travel website He added that the most recent protests to hit Thailand in 2010 led to an upsurge in tourist bookings in Bali, Indonesia. While skeptical about the short-term impact Thailand’s situation can have, Allender did

“The whole issue between the rural poor and urban elite in Thailand has rumbled on for years. If the problems continue

December,whereby citizens of Thailand and Myanmar could visit their neighbouring country visa-free.

Myanmar Summary

xdkif;EdkifiH befaumufNrdKUESifh tjcm;NrdKU rsm;wGif tpdk;&qefYusifa&;qE´jyrIrsm; jzpfyGm;aejcif;aMumifh 2013 ckESpfü urÇmvSnfhc&D;oGm;rsm;taejzifh jrefrm EdkifiHodkY ydkrdkvma&mufEdkifaMumif; c&D;oGm; vkyfief;ydkif;qdkif&m apmifhMunfhavhvmol rsm;u ajymMum;Muonf/ ta&SUawmiftm&SukefoG,frIowif;pm jzpfonfh TTR Weekly rS azmfjy csuft& jrefrmEdkifiHESifh AD,uferfEdkifiH wdkYtaejzifh xdkif;EdkifiHwGif vuf&SdjzpfyGm; aeaom EdkifiHa&;rwnfrNidrfrIrsm;aMumifh urÇmvSnfhc&D;oGm;rsm; ydkrdkvma&mufEdkif onfh EdkifiHrsm;tjzpf tusKd;cHpm;&rnf jzpfNyD; tMurf;zufrIrsm;udk aMumuf&GHU

cities in Thailand last week could boost visitor numbers in Myanmar in 2013, industry observers say. According to Southeast Asia trade newspaper TTR Weekly, countries like Myanmar and Vietnam could attract tourists who do not want to travel to Thailand due to fears around the violence. Late last month, protestors

took to the streets in the capi- tal city of Bangkok in protest against an amnesty bill that would mean that former Prime Minister Thaksin Shinawatra can return to the country, despite being sought for corrup- tion charges within the country. That bill was introduced by the current government, which is headed by Thaksin’s sister Yingluck – who many believe acts as a puppet for her brother - and, while the proposal has

to appeal to the throngs that

opposition, protestors took to the streets calling on Yingluck to stand down.

After heated protests, at the time of publication quiet had

head to Thailand – frankly, many of the beach-and-beer crowd won’t even know where Myanmar is,” said Marcus Al-

largely been restored to the capital, in part due to the King’s Birthday celebrations which took place on December 5. “Travel industry leaders have voiced deep concern over the current political unrest, point- ing out that if it continues another week, the trade should brace for cancellations and a

the neighbouring country.

said TTR Weekly. However, travel observ- ers within Myanmar remain skeptical as to what impact

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cJhNyD; c&D;oGm;rsm;taejzifh tif'dkeD;&Sm; odkY ydkrdkoGm;a&mufcJhMuaMumif; od&onf/

long way to go before it catches up with neighbouring countries Thailand and Vietnam, which exported 7 million and 7.2 million tonnes respectively last year. In an interview with Bloomb- erg last week, Toe Aung Myint, director general of the depart- ment of trade promotion for the Ministry of Commerce, revealed that the government plans to see 2.5 million tonnes in export in 2014-2015, almost doubling to 4.8 million tonnes in 2019-2020. Myint pointed to an increase in demand around the world, in particular neighbouring China, as one reason for the expected

surge in growth. “We see promising oppor- tunities in the sector because the global rice market grows and China demand increases,” he said, before adding that Myanmar has the resources to expand their production to the desired level for export. Other factors however ques- tion how quickly Myanmar can adapt to the increased demand. In a World Bank study, which looked at the study of logistics in country’s around the world, with a particular focus on in- frastructure, Myanmar ranked 129th in the world in 2012. Thailand was placed 38th, Viet- nam 53rd and Cambodia 101st. This perception is supported in practice. In Myanmar, load-

ing a 20,000 tonne vessel with rice takes eight days, double the amount of time in Thailand or Vietnam, Kiattisak Kanlayasiri- vat, director at Ascend Com- modities SA told Bloomberg. “Myanmar certainly has the potential to become one of the leading rice exporters, if not the leading one in the medium run,” said the report. “It is one of the few countries in the region that faces no land, water or labour constraints – and it is strategi- cally located, having China and India as neighbours.” More than 70 percent of My- anmar’s population is employed in the agricultural sector and the rice industry contributed 13 percent to gross domestic product in 2011.

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December 12-18, 2013


Myanmar Business Today

PlanstoUpgradeRubberQualityforExport PlanstoUpgradeRubberQualityforExport Myanmar is planning to improve the quality of its rubber in

Myanmar is planning to improve the quality of its rubber in order to increase the income from exports.

Phyu Thit Lwin

T he production of rubber

lacks quality control in

Myanmar at present,

and Producers Association (MRPPA). “Since the high quality rubber cannot currently be produced

within Myanmar, the price it is

sold for when exported abroad

higher prices in the world mar- ket, according to sources from the Myanmar Rubber Planters

is low,” said U Khaing Myint, secretary of MRPPA. He added that the amount of high-quality

rubber being produced within the country had doubled from last year and that now, an esti- mated 20 percent of the rubber produced is of high quality. He added that while the cur- rent equipment being used high-quality rubber, many local

entrepreneurs are not trained up to the required standards. Earlier this year, the EU lifted all remaining sanctions against Myanmar, meaning that the number of countries Myanmar could export its rubber to increased. However, U Kha- ing Myint said that European customers only purchase the international-standard rubber, so it is crucial for Myanmar to ensure better production of the product. Myanmar exports its RSS1, RSS3, RSS5 and MSR20 rubber materials, with the bulk of ex- ports being sent to China, India, Malaysia and Singapore. In the tonnes were exported, bringing in $260 million, and MRPPA aims to increase the export to 950,000 for 2013-2014.

Myanmar Summary

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VietnamGroupEyes KyaiktyoCableCar Kyaw Min A Vietnamese company has expressed interest in investing in a cable
Kyaw Min
A Vietnamese company has expressed interest in
investing in a cable car project at Mount Kyai-
ktyo, the site of one of Myanmar’s most famous
sites, the Golden Rock in Mon State, source say.
Oman Investment Fund has already held meetings
with members of the government including members of
Twin and Electric and Industry Minister U Naing La
We Aung.
“Vietnam wants to invest in running a cable car at
Kyaiktyo and establish factories in Mon State,” said
Truong Hoang, adviser for Oman Investment Fund. He
added that the Mon State government had informed
the company that if they wished to make an invest-
the project.
Located just a few hours from Yangon, the Golden
Rock is one of Myanmar’s most popular tourist destina-
tions, particularly for domestic Buddhist tourists.
Myanmar Summary
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ESihf&ifjyifawmfay:odkY Cable Car ajy;qGJa&;vkyfief;udkAD,uferf
ukrÜPDu vkyfudkifvdkaMumif; od&onf/
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pufrIvufrI0efBuD; OD;Edkifv0DatmifwdkYESihf vma&mufawGUqkHaMumif;



December 12-18, 2013


Myanmar Business Today

How Much Would It Cost to Immunise All Children in 2014?

Thin Lei Win

A ccording to two recent

reports by the children's

agency UNICEF, it

would take a mere 0.9 percent of revenues from two new pro- jects to immunise all children in Myanmar in 2014 – some 1.5 million under two years of age. It would cost an estimated $11.4 million for 6.76 million doses of vaccines covering a wide range of preventable dis- eases and this could be funded entirely by government revenue from the Shwe project in west- ern Myanmar and Zawtika in the south, said UNICEF. Released in November, the reports take an interesting look at how income from natural resource projects could rich but impoverished country, which has emerged from half a century of brutal military rule. Analysts and observers have long criticised Myanmar's management of its immense re- serves of gas, oil, gemstones and timber as “opaque” – the kind of environment in which klep- tocracies thrive as leaders and

As income from natural resources grows, there’s “an opportunity” for the Myanmar government to channel it into social development and this could be done “for a relatively small amount” of government money, it added. Ongoing reforms may have made Myanmar a darling of the West – a far cry from a couple of years ago when it was a pariah state – but the country’s spend- ing on education, health and social welfare is still measly. as a percentage of GDP, the government spent 0.76 percent on health, 1.46 percent on education and 0.01 percent on social welfare, according to UNICEF. Almost all vaccines are currently purchased with donor funds. Social spending has seen in- creases in recent budgets but it’s important to remember the base was extremely low. Aid workers said in 2007 that the government spent only $0.70 per person on health. “Despite improvements, the country’s under-5 and infant mortality rates are the highest

of SouthEast Asian Nations) member countries, and many of these deaths are preventable,” it added. Around 56,000 children

are preventable,” it added. Around 56,000 children According to reports, less than 1 percent in revenues

According to reports, less than 1 percent in revenues from two projects, the Shwe pipeline in the west of the country and Zawtika in the south, would allow all children in the country to be immunised against deadly diseases.

why every single child couldn’t be vaccinated, considering the amount of money Myanmar is earning and could earn from

“Children are the most precious resources of the country. They must be the reforms,” said Bertrand Bain-

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among ASEAN (the Association natural resource projects.

their own , leaving the rest of the country in poverty. Despite its natural riches, My- anmar is Southeast Asia's poor- est country. About one-third of its 60 million people live on less than $1.25 a day. “Myanmar is blessed with an abundance of natural resources which can be turned into mean- ingful, sustainable, impactful social investments right now, starting with children,” one of the reports said.

vel, UNICEF’s representative in

year, a huge majority of them younger than one month, said the aid agency. The current immunisation rate in Myanmar is fairly high – around 80 percent, although UNICEF says data isn’t always reliable – but there’s no reason

Myanmar, in a report. Reuters

Myanmar Summary

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world can do this project as the sole developer. We need to de- termine how much the Italian- Thai company has invested in this project by a due diligence assessment,” he said. International audit compa- nies Ernst & Young, Deloitte and PricewaterhouseCoopers (PWC) have been invited to submit proposals for the due diligence assessment said Set Aung, with the work expected

to be completed by April 2014.

According to reports, ITD has

said it invested around $189

million in Dawei and expected

a full reimbursement of those

costs, plus interest. how much ITD spent on this SEZ,” said Set Aung. Due to the cease of operations

Khettiya Jittapong/Reuters
Khettiya Jittapong/Reuters

Workers at an industrial site in Dawei region.

brought about by the review, an estimated 1,200 local workers will be out of work until the work begins, labour leaders have said. The project has been hit by issues since plans were an- nounced. The Myanmar government has attempted to convince the Japanese gov- ernment to play a role in the project, although it is thought that Japan is more interested in the Thilawa project closer to Yangon. Villagers in the region have also complained about the con- tamination of their water due to mining in the area.

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December 12-18, 2013


Myanmar Business Today

December 12-18, 2013 9 Myanmar Business Today



December 12-18, 2013


Myanmar Business Today

The Surprising Potential of Myanmar-Mongolia Relations

The Surprising Potential of Myanmar-Mongolia Relations The Oyu Tolgoi mine, located in the Gobi Desert, is

The Oyu Tolgoi mine, located in the Gobi Desert, is one of the largest copper projects under development.

management and foreign Mongolia is widely recognized as a post-communist success

story, having pursued economic


ously, surviving the transitions

intact, stable and distinctly

of state to Myanmar since dip-

lomatic relations were estab- lished in 1956. While in Yangon and Nay Pyi Taw, Elbegdorj

met with Myanmar’s President Thein Sein, following which

they released a joint statement

of cooperation.

Elbegdorj also met with Aung San Suu Kyi, gave a well- received speech at the Univer- sity of Yangon, and met with the

newly established Mongolian- Myanmar Business Council.

This visit will likely serve as

a starting point to increased Mongolia-Myanmar coopera-

tion, and support the deepening of diplomatic and economic ties. Mongolian-Myanmar rela-

extended his country’s support

Any comparison of the two countries would point to a myriad of potential avenues for cooperation. Most importantly, however, is ample scope for mutual cooperation and policy learning between Ulaanbaatar and Nay Pyi Taw on democratic governance, natural resource


Brandon Miliate


n November, Mongolian President Tsakhiagiin Elbe-

Myanmar as part of his tour

Southeast Asia. This was the

and political opening simultane-

democratic. Today, Myanmar

continues to pursue political liberalisation, and has been able to quickly reap the international

parency and environmental

transition, including sanctions relief and increased economic and diplomatic ties with the US and Europe. In this regard, Myanmar may be able to learn from Mongolian successes and pitfalls in how to manage politi- cal opening and economic lib- eralisation. In fact, Thein Sein congratulated Mongolia on its

successful democratisation and presidency of the Community of Democracies in 2012-2013. Likewise, Elbegdorj noted Myanmar’s unprecedented ef- forts at democratisation, and

Both are relatively small states

when compared to their large neighbors. Mongolia has to contend with its two powerful neighbors: China and Russia. Myanmar also borders two great power neighbors – India and China – but also a number of smaller states – Thailand,

rule of law and human rights. Mongolia and Myanmar are leading emerging markets for natural resources. Mongolia’s Oyu Tolgoi mine is one of the largest copper deposits current- ly under development, while Myanmar’s largely untapped

Bangladesh, and Laos – that give it more options than Mongolia has in this regard. Both Mongolia and Myanmar - ence of their larger neighbors by cultivating relations with other states, including North America, Europe and Australia. Mongolia has been pursuing this course quite successfully since the 1990s, and Myanmar has been leveraging its own newly established democratic credentials to improve ties with the West after decades of isola- tion. Mongolia and Myanmar are likely to travel similar paths in this regard. Notwithstanding all that potential, there are important countries that could ultimately limit cooperation. Dr Julian Dierkes has produced a handy table comparing Mongolia and Myanmar on a number of meas- ures, which highlights their internal security challenges, while Myanmar is still trying to manage ongoing inter-ethnic strife in its territory. Myanmar is a country of 60 million peo- ple, while Mongolia has only 5 percent of that number (about 3 million). As a landlocked state, Mongolia’s trade is limited by port access and international

infrastructure; Myanmar, as a coastal state, has more freedom in this regard. Finally, the sheer physical distance between them will limit some aspects of their

supplies of natural gas and metals has already attracted the attention of international businesses, not to mention gov- ernments eager to access these reserves. However, as I pointed out in a previous article, both governments are also keen to balance international inves-

potential cooperation.

and both have had to respond


ences between these two coun- tries, but there are also many potential venues for increased cooperation and mutual policy learning and coordination.

protections. The potential for Mongolia and Myanmar to not only learn from each other in the


but also to coordinate their policy decisions, was pointed out by recent pushes for an “M3 alliance” between Mongolia, Myanmar and Mozambique as three countries with quickly growing economies, bordering BRICS nations, keen to balance resource investment against political and societal concerns.

Mongolia and Myanmar al- ready share important foreign policy and security concerns.

ences, the space between them, Mongolian-Myanmar relations ultimately remains to be seen, but recent developments sug- gest cause for optimism. The Diplomat

to public demands for trans-

Myanmar Summary

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Tsakhiagiin Elbegdorj

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Muonf/xdkYjyif Tsakhiagiin Elbegdorj

onf a':atmifqef;pkMunfESifhvnf; awGUqHkcJhNyD; topfwnfaxmifvdkufonfh rGef*dkvD;,m;-jrefrm pD;yGm;a&;aumifpD ESifhvnf; awGUqHkcJhaMumif; od&onf/ ,ckuJhodkY rGef*dkvD;,m;acgif;aqmifrS jrefrmEdkifiHodkY a&muf&SdvmrIonf jrefrm EdkifiHESifh rGef*dkvD;,m;EdkifiHwdkYtMum; yl;aygif;aqmif&GufrIrsm; wdk;wufvmap &efESifhoHwrefqufqHa&;ESifh pD;yGm;a&; qufEG,frsm;udk ydkrdkcdkifrmvmap&efjzpf aMumif; od&onf/ rGef*dkvD;,m;ESifh jrefrmEdkifiHwdkYtaejzifh tvm;tvmaumif;rGefaom qufqH a&;tajctaewpf&yf&SdaeNyD; yl;aygif; aqmif&GufrIrsm;taejzifhvnf; tusKd; aus;Zl;rsm;pGm &&SdEdkifonhf taetxm; wGif&Sdaeonf/rGef*dkvD;,m;EdkifiHtaejzifh pD;yGm;a&;ESifh EdkifiHa&;wdk;wufzGHUNzdK;vmrI &SdcJhNyD; ,cktcsdefwGif jrefrmEdkifiHtae jzifhvnf; EdkifiHa&;wGif ydkrdkvGwfvyfyGifh vif;vm&eftwGuf tpGrf;ukefBudK;yrf; aeNyD; EdkifiHa&;jyKjyifajymif;vJrIrsm;aMumifh tjynfjynfqdkif&mrS tultnDrsm;udk vnf; &&Sdxm;onf/tqdkygtaxmuf tyHhtultnDrsm;wGif pD;yGm;a&;ydwfqdkY rIrsm;udk z,f&Sm;ay;jcif;? tar&duefESifh tD;,lwdkYrS pD;yGm;a&;qufEG,frIESifhoHwref qufqHa&;udk wdk;jr§ifhaqmif&Gufvmjcif; tp&Sdonfhtcsufrsm;vnf; yg0ifonf/ jrefrmEdkifiHtaejzifh rGef*dkvD;,m;\ atmifjrifrIrsm;&&SdcJhyHkudk twk,lavhvm EdkifaMumif; od&onf/ jrefrmEdkifiHESifh rGef*dkvD;,m;EdkifiHwdkYonf obm0o,H Zmwrsm; aygrsm;<u,f0aom zGHUNzdK;qJ aps;uGufrsm;jzpfNyD; aMu;eDtrsm;tjym; xGuf&SdEdkifonfh tBuD;qHk;owåKwGif;wpfck jzpfaom rGef*dkvD;,m;\ Oyu Tolgoi owåKwGif;onf ,cktcg pwiftaumif txnfazmfaqmif&GufaeNyDjzpfNyD; jrefrm EdkifiHtaejzifhvnf; obm0"mwfaiGUESifh owåKwGif;xGufrsm;u tjynfjynfqdkif &m vkyfief;rsm;tm; qGJaqmifEdkifcJhonf/ ESpfEdkifiHpvHk;\tpdk;&rsm;taejzifh tjynf jynfqdkif&m &if;ESD;jr§KyfESHolrsm;\ pD;yGm; a&;tay:wGif vTrf;rdk;vmrIESifh trsm; jynfolrsm;twGuf yGifhvif;jrifomrIESifh


a&SmufrIrsm;udk [efcsufnDpGm aqmif&Guf oGm;&rnfjzpfaMumif; od&onf/ jrefrmEdkifiHESifh rGef*dkvD;,m;EdkifiHwdkY taejzifh tjyeftvSef twk,lavhvm p&mrsm; jyKvkyf&mwGif o,HZmwrsm; tm; pDrHcefYcGJrIomru ay:vpDqHk;jzwf csufrsm;qdkif&mudkvnf; avhvmoGm;& rnfjzpfaMumif; od&onf/



December 12-18, 2013


Myanmar Business Today

HR Development Key for 2015 AEC: Adviser

Htet Aung

M yanmar should focus

on boosting its human

resources capacity to

prepare itself for the ASEAN Economic Community (AEC) in 2015, according to Dr Aung Tun Thet, the presidential economic adviser. “In preparation for the up- coming AEC in 2015, companies should promote the technology sector and increase its human resource capacity,” said Dr Aung Tun Thet, before adding that measures should also be taken to enhance the skill set of employees. “Our country is full of natural resources. If we have enough money, then the technological Htoo, an entrepreneur. “In this situation, we face a big chal- lenge when it comes to compet- ing with foreign companies, so at the present time workers should focus on being compe- tent in their jobs,” he added. Employment agencies have also revealed that they are expecting an increase in em- ployment fairs in the coming years, as an increasing number

ployment fairs in the coming years, as an increasing number Coca-Cola is just one of many

Coca-Cola is just one of many international companies moving into Myanmar.

of foreign companies look to- wards Myanmar as a business destination. “Before 2015, we will arrange a number of discussions and shows that are hosted with the

aim of giving Myanmar youths job opportunities in foreign companies,” said Ko Kyaw Zan, from a Yangon-based employ- ment agencies. “I would like to advise Myanmar youths to use

these opportunities carefully, otherwise we cannot compete with foreign workers who will come to Myanmar in 2015,” he added.

Myanmar Summary

jrefrmEdkifiHtaejzifh 2015 ckESpf tmqD,HpD;yGm;a&;todkuftNrHK AEC twGuf BudKwifjyifqifrIrsm; jyKvkyf&mü jynfwGif;ukrÜPDrsm;ESifh tzGJUtpnf;rsm; bufrS tvkyform;rsm;\ vkyfudkifEkdif pGrf;tajctaersm;udk jznfhpGuf&ef vlU pGrf;tm;t&if;tjrpfrsm; jynfh0apa&; twGuf t"duaqmif&GufoifhaMumif; EdkifiHawmfor®wtBuHay; a'gufwm atmifxGef;ouf\ ajymMum;csuft& od&onf/ vmrnfh 2015 ckESpf AEC twGuf BudKwifjyifqif&mü ukrÜPDrsm;taejzifh enf;ynmydkif;qdkif&mu@rsm; zGHUNzdK; wdk;wufa&;OD;wnfaqmif&Gufaeonf ESifhtwl vkyfief;cGifrsm;&Sd tvkyform; rsm;\ vkyfief;qdkif&m uRrf;usifrItydkif; rsm;twGuf vlUpGrf;tm;t&if;tjrpfrsm; jynfh0aeap&ef BudKwifaqmif&GufrIrsm; jyKvkyfxm; oifh aMumif; a'gufwm atmifxGef;oufu ajymonf/ vmrnfh 2015 ckESpf AEC twGuf jynfwGif;ukrÜPDrsm;taejzifh EdkifiHjcm; ukrÜPDrsm;ESifhwef;wl ,SOfNydKifEdkif&ef vdktyfcsuf 22 csuf&SdfaeaMumif;udk MHR oifwef; ausmif;tkyfBuD; OD;at; ausmfrS axmufjy cJhonf/





Oliver Slow

operations within the country is the latest in a raft of changes to the country’s media landscape. In August 2012, a long- standing pre-censorship board was disbanded and formerly exiled media outlets including Demo- cratic Voice of Burma and The Irrawaddy have returned to the country to begin operations.

onfh British Broadcasting Corporation (BBC) onf vm

rnfhESpfwGif jrefrmEdkifiHü rD'D,m Xmeudk zGifhvSpfoGm;awmhrnfjzpf aMumif; od&onf/ jyefMum;a&;0efBuD;XmerS tqdk ygukrÜPDtm; jrefrmEdkifiHwGif vkyfief;rsm; jyefvnfaqmif&Guf Edkif&eftwGuf cGifhjyKcsufay;cJh aMumif; od&onf/ urÇmwpf0ef;wGif bDbDpDowif; Xmeaygif;rsm;pGm&SdaeaMumif;ESifh

B anned during the

country’s military

rule, British Broad-

casting Corporation (BBC), one of the world’s most recognised media companies, will open a bureau in the country next year. It was announced last week that the Ministry of Information had given permission for the company to return to the country. “There are many BBC bureaux across the world. But few are as hard fought-for as this one,” said Peter Horrocks, BBC’s director of global news on his blog. The BBC was an un- military junta that ruled the country until 2011, but the decision to allow


Myanmar Summary

tcsKdUrSm vkyfief;vkyfudkifaqmif &Guf&eftwGuf cufcJaomtae txm;wGif&SdaeaMumif; bDbDpD owif;Xme\'g½dkufwm Peter Horrocks u ajymMum;cJhonf/



yifwm;jrpfxm;cJhaom urÇmrS trsm;qHk;todtrSwfjyKxm;onfh rD'D,mukrÜPDrsm;xJrS wpfckjzpf

ydwf yifwm;jrpfxm;cJhaom urÇmrS trsm;qHk;todtrSwfjyKxm;onfh rD'D,mukrÜPDrsm;xJrS wpfckjzpf
ydwf yifwm;jrpfxm;cJhaom urÇmrS trsm;qHk;todtrSwfjyKxm;onfh rD'D,mukrÜPDrsm;xJrS wpfckjzpf


December 12-18, 2013


Myanmar Business Today

Automotive: A New Booming Sector in Myanmar?

Pongsak Kiatpathomchai

M yanmar is the second

largest country in

Southeast Asia after

compared to only 4-5 percent growth before 2012, as analysed by Solidiance, an Asia-focused From 1998-2008, Suzuki formed a joint-venture com- pany with the government and produced 4,800 vehicles. After that, the permit was cancelled by the government. Ap-

Indonesia but it is one of the

poorest nations in this region. The country has experienced changes over the past 50 years of military rule. The most

proximately 8,500 units were

produced during 2008-12 by

JVs with the government and Cherry, Tata and Isuzu. In 2013, the automotive pro- duction industry has started to global players foreseeing higher demands of passenger cars have planned to build either show- rooms and/or manufacturing sites in Myanmar of which the market’s key players are the Japanese brands. On the other hand, Nissan is partnering with Tan Chong Motors to build the largest automobile assembly plant in Myanmar. The new plant will open in the Bago region in 2015 to produce Nissan Sunny cars. With 300 workers, it will have a capacity to assemble more than 10,000 vehicles a year. TTAS, a joint venture between Toyota Tsusho Corp and lo- cal Aye and Sons has recently opened its second service center in mid-2013 in Shwe Than Lwin Industrial Zone in Hlaing Thar- yar township. By the end of this

election in 2010.

Damir Sagolj/Reuters
Damir Sagolj/Reuters

A seller waits for customers at a saloon for newly imported cars in central Yangon. Saloons with newly imported vehicles recently mushroomed across the country offering everything from Indian micro cars to super expensive Rolls Royce models. It is much easier and cheaper to import cars nowadays. The incredibly complicated and expensive procedure has been replaced with something more affordable. As Myanmar opens up, the most immediate physical changes are on its streets, as new cars begin plying roads long dominated by rattletrap buses and rusting taxis.

genuine parts in the long term.

Myanmar Summary


jrefrmEdkifiHonftif'dkeD;&Sm;EdkifiHNyD;vQif ta&SUawmiftm&Sü 'kwd,tBuD;qHk;EdkifiH wpfEdkifiHjzpfonf/odkYaomfvnf; jrefrm EdkifiHonf ta&SUawmiftm&Sa'owGif tqif;&JqHk;EdkifiHrsm;xJrS EdkifiHwpfEdkifiH jzpfNyD; ESpfaygif; 50 eD;yg; ppftpdk;&tkyf csKyfrIvufatmufwGif a&muf&SdcJh&onf/

2010 ckESpfwGif a&G;aumufyGJudk jyKvkyf

usif;ycJhNyD;aemufwGif xifomjrifom aomtajymif;tvJrsm;udkawGUjrifvmcJh


rsOf;pnf;urf;tm;avQmhcsay;rIudk jyKvkyf ay;cJhNyD;aemuf um;rsm;wifoGif;&ef ydkrdk tqifajyvG,fulvmcJhonf/2011 ckESpf pufwifbmvrSpí t"du pnf;rsOf; pnf;urf;BuD;rsm;tm; avQmhayghz,f&Sm; ay;cJhNyD; um;a[mif;rsm; vJvS,fcGifh tpDtpOfwpf&yfudk jyKvkyfcJhonf/ESpfaygif; 20 rS 40 oufwrf;&Sdaom um;a[mif; rsm;udk vJvS,f&eftwGuf um;wifoGif;

cGifhygrpfrsm;udk avQmufxm;&ef cGifhjyKay; cJhonf/

2011 ckESpf arvrSpí touf 18

trnfaygufjzifh um;wpfpD;wifoGif;Edkif NyD;tdrfoHk;twGufomjzpfaMumif; od&onf/vkyfief;oHk;twGuf um; wif oGif;cGifhtm; tuefYtowfjzifhom &&SdEdkifcJhonf/,cktcg jrefrmEdkifiHwGif

Relaxing regulations The vehicle import regulation was relaxed after the election during 2010-11 by making easier the import of com- mercial vehicles; trucks over three tonnes and buses over 15 seats. However, major lifts started from September 2011 when the breakthrough rule implemented – the “Old car substitution program” – allow- ing the application for car im- port permits to substitute older cars (initially those 20-40 years old) for newer models (those manufactured after 1995). From May 2011, any Myan- mar citizen aged 18 years and up could import one unit of passenger car under his/her own name, only for personal usage. The imports of passenger car for commercial purposes were still limited. As a result, the latest lift was implemented from May allowing individuals or companies to import light trucks less than three tonnes. Currently, in Myanmar there is no import limits on any kind of vehicle for commercial purpose. The changes in import regula- tions resulted in the number of total vehicle registration jump from around 2 million units (before 2010) to 3.8 million units up to July, according to the Road Transportation Administration Department (RTAD). However, within the four wheelers population, all of the vehicles are still used cars imported mostly from Japan.

Ford show-room provides a full range of activities from sales and service to spare parts. General Motors has recently Pte Ltd, an existing exclusive dealer of Chevrolet and Opel Motor Ltd, a local distributor of pharmaceutical products, in mid-2013 for the distribution,

sales, and service of Chevrolet vehicles in Myanmar. No clear

dates have been announced as

import regulation are expected

to have 15 percent growth per annum in the coming years

of when it will operate. The most recent move is Volkswagen which opened its

Growth segments According to the data released by the RTAD, around 85 percent

of total vehicles are motorcycles which mainly are Japanese and Chinese brands. Motorcycles have a steady growth rate of 8-10 percent per annum and are expected to continue with this growth rate in the future. How- ever, passenger car and com- mercial vehicles which received

As a result, marketing com- munication about maintenance costs can be seen when local car sales is reaching to a limit.

October through a partnership – although non-exclusive – with Yoma Strategic Holdings. More carmakers from China, India, and Korea are also eye- ing the Myanmar market. All investments from car makers will be developing the market

Automotive lubricants gain interests Thanks to the potential growth of the auto industry, the related products like lubricants have drawn high attention from global brands. Currently, there are more than 200 lubricant

showroom by a consortium of four companies in May 2013:

Mitsubishi Motors, Mitsubishi Corp, Yoma Strategic Holding and First Myanmar Investment. The group also plans to estab- lish service centres in Mandalay and Nay Pyi Taw in the future. Other global car makers are also jumping into Myanmar. Ford Motor Co partnered with RMA Group and Capital Dia- mond Star group to open a new

educating the market about the (non-synthetic), but updating

cars to newer car models would

importance of after sales ser- vices by coming to authorised service centres and/or using

in this initial stage as they un- derstand market characteristics and consumer behaviour in a way that most newcomers do not. Not only foreseeing a lot of sales promotional campaigns in the short term, Solidiance also expects to see all players

Solidiance projects that the market size of automotive lubricants which was 52 mil- lion litres in 2012 would reach 80 million litres in 2016 as a consequence of vehicle growth. The majority of Myanmar people go for cheap lubricants

year, there will also be a Toyota service centre in Mandalay.

to speed up the growth in the

years to come. Given that the automotive industry has only just begun, the selection of a good local

brands registered in the market.

“The changes in import regulation resulted in the number of total vehicle registration from around 2 million units (before 2010) to 3.8 million units up to July.”

the number of total vehicle registration from around 2 million units (before 2010) to 3.8 million



December 12-18, 2013


Myanmar Business Today

make the market aware of better quality. Owners of vehicles from 2007 and after are now no long- er using mineral as they used to. Asian brands particularly from Singapore, Thailand, China and Korea are the strongest players in Myanmar’s lubricant market, but the global brands have now entered the market to sell their products through joint ventures with the local distributors, as opposed to establishing their own operations in the country. However, strong players in au- tomotive lubricants are mostly Asian brands particularly from Singapore, Thailand, China and Korea. An obvious challenge encoun- tered in the lubricant market is tion on promotional campaigns such as free gifts and lucky tions are getting more prevalent to the eyes of customers, it is cant companies particularly in its brand positioning.

Still some time to boom Overall, the Myanmar auto- motive market outlook is posi- tive – thanks to the loosening of regulations, growing industry and investments from global players. However, high-end vehicles and related products will not be growing anytime soon and will remain a small market when compared to the other ASEAN countries. Used vehicles and entry-level level cars will remain the majority of the market. Players of after sales products like auto parts and lubricants are still playing on pricing and promotions. From a business perspective, the few years from now are the years to set up the automotive businesses in Myanmar until the real boom takes place in the next 10 years.

until the real boom takes place in the next 10 years. Cars at an auto showroom

Cars at an auto showroom in Myanmar.

the Senior Consultant at Solidi- ance, an Asia-focused growth expertise centred on automo- tive/industrial application, technology, healthcare and green technology.

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“The market size of automotive lubricants which was 52 million litres in 2012 will reach 80 million litres in 2016 as a consequence of vehicle growth.”

litres in 2016 as a consequence of vehicle growth.” vkyfief;oHk;twGufrnfonfharmfawmf um;trsKd;tpm;rqdk

vkyfief;oHk;twGufrnfonfharmfawmf um;trsKd;tpm;rqdk wifoGif;cGifh tm;

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avQmhcsrI\wdkuf½dkuftusKd;aus;Zl;tjzpf c&D;onfwif ESifh vkyfief;oHk; um; rsm;onf vmrnfhESpfrsm;twGif; wpf ESpfvQif 15 &mcdkifEIef; wdk;wufvmrnf[k arQmfrSef;xm;onf/ 2012 ckESpf rwdkifcifwGif 4 &mcdkifEIef; rS 5 &mcdkifEIef;om wdk;wufcJhaMumif; Solidiance rS pdppfavhvmrIt& od& onf/1998 ckESpfrS 2008 ckESpftxd qlZluD;onf jrefrmtpdk;&ESifh tusKd; wlyl;aygif;í um;tpD;a& 4800 txd xkwfvkyfcJhonf/ xdkYaemuf tpdk;&rS cGifhjyKcsuftm; zsufodrf;cJhonf/2008 ckESpfrS 2012 ckESpftwGif; Cherry , Tata ESifh Isuzu wdkYESifhyl;aygif;í armfawmfum;tpD;a&aygif; cefYrSef;ajc

8500 eD;yg;udk xkwfvkyfcJhonf/ 2013 ckESpfwGif armfawmfum;vkyfief; rSmodompGm ajymif;vJvmcJhNyD;urÇmharmf awmfum;vkyfief;BuD;rsm;taejzifhvnf; jrefrmEdkifiH\ armfawmfum; 0,fvdk tm; jrifhrm;vmrIudkawGUjrifcJhNyD; armfawmf um; ta&mif;jycef;rsm;? xkwfvkyfrIvkyf ief;rsm;udk vkyfaqmif&eftwGuf pDpOf cJhMuonf/jrefrmEdkifiH\ um;aps;uGuf wGif *syefEdkifiHxkwfum;rsm;u t"du ae&m,lxm;aMumif;vnf; od&onf/


onf Tan Chong Motors

ESifh tusKd;wlyl;aygif;í jrefrmEdkifiHwGif tBuD;qHk; armfawmfum;wyfqifa&; vkyfief;BuD;udkxlaxmif&efBudK;yrf;cJhonf/ tqdkygvkyfief;opftm; 2015 ckESpf wGif yJcl;wdkif;a'oBuD;ü zGifhvSpfxlaxmif oGm;rnfjzpfNyD; Nissan Sunny um; rsm;udk xkwfvkyfoGm;rnfjzpfonf/tvkyf orm;aygif; 300 ESifh wpfESpfvQif armfawmfum;tpD;a&aygif; 10000 udk wyfqifxkwfvkyfoGm;Edkifvdrfhrnfjzpf aMumif; od&onf/

ESifh jynfwGif;

vkyfief;jzpfonfh Aye and Sons wkdY\ tusKd;wlyl;aygif;vkyfief;jzpfaom TTAS onf rMumao;rDu vdIifom,mNrdKUe,f 'kwd,ajrmuf0efaqmifrIpifwmudk zGifh vSpfcJhonf/,ckESpfukefwGif rEÅav;NrdKU üvnf; wdk,dkwm0efaqmifrIpifwmtm; zGifhvSpfoGm;rnfjzpfaMumif; od&onf/

Mitsubishi Motors , Mitsubishi

Corp, Yoma Strategic Holding ESifh

First Myanmar Investment wdkY

aygif;pyfzGJUpnf;xm;aom pD;yGm;a&; tiftm;pkBuD;rS yxrOD;qHk;ta&mif;jycef; udk zGifhvSpfcJhNyD; rEÅav;ESifh aejynfawmf wdkYüvnf; 0efaqmifrIpifwmrsm;udk zGifhvSpfoGm;&ef pDpOfaeaMumif; od&onf/ tjcm;urÇmharmfawmfum;vkyfief;BuD; rsm;taejzifhvnf; jrefrmhaps;uGufodkY 0ifa&mufvmcJhonf/Ford Motor Co

onf RMAGroup, Capital Diamond

Star group wdkYESifhyl;aygif;í atmufwdk bmvwGif ta&mif;jycef;opfwpfckudk zGifhvSpfcJhonf/

Toyota Tsusho Corp

For more than 12 years, Archetype Group has proven experience as a consultant
to the construction industry throughout the region.
Fully integrated services in Architecture, Engineering, Planning, Project
Management and Cost Management
Extensive experience across all sectors, including commercial, residential,
industrial, mixed-use high-rise and other types of buildings
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Yangon Office: Shwe Hintha Tower B, Room 306, No. 51. Pyay Road, 6 1/2 Miles, Yangon, Myanmar
+95-1 507344 ext. 159



December 12-18, 2013


Myanmar Business Today

Martin Petty

protests, it looked vulnerable to the US Federal Reserve's expected winding down of its $85 billion a month monetary stimulus measures. The monthly correlation between the baht and 2-year US Treasury yields has been at record highs, which means

the currency already looks ripe for a fall when the Fed eases its stimulus measures. So foreign investors who poured into Thailand over the past six months as they avoided more troubled markets such as Indo- nesia and India now have two reasons to leave: higher U.S. rates and domestic political concern. Political turmoil isn't always a drag on Thailand's economy which has weathered eight has seen governments toppled, protesters shot, buildings and buses set ablaze, and airports and shopping malls seized by

buses set ablaze, and airports and shopping malls seized by Anti-government protestors march through downtown Bangkok.

Anti-government protestors march through downtown Bangkok.

protests took hold. Viboon Komadit, chief mar- - ration, which runs Thailand's biggest industrial zone, said investors were prepared to weather political storms. "We've been through Thai political turmoil for years," Viboon told Reuters. "The international community will understand, political volatility is part of development under a democratic system."


Myanmar Summary

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Global Chemical Pcl rS Ouú| Bowon Vongsinudom u ajymMum;

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Santitarn Sathirathai

A s anti-government pro-

tests roil Bangkok, the

president of Thailand’s

largest petro-chemical com- pany is already seeing scattered disruptions to business. "We have taken into account the possibility of prolonged political problems and we think it could hurt our businesses next year," said Bowon Vongsi- nudom, president of PTT Global Chemical Pcl, after days of pro- tests including the occupation of the Finance Ministry.

While Thailand’s economy, Southeast Asia's second largest, typically shows remarkable re- silience to political turbulence, there are factors this time around that suggest the unrest could exacerbate already sof- tening business conditions. Consumer spending has slumped this year and exports, worth 60 percent of Thailand's

- demonstrators.

ging amid weak global demand. The government had pinned its

and rebound.


cial markets typically swoon

government demonstrations. But Bajoria acknowledges there are some risks. "If there's an escalation or

The bloodiest political vio- lence in a generation erupted in April and May 2010, but

a snap election called, then it

that year; stocks rocketed 40.6 percent and the economy bounded ahead by 7.8 percent, its best growth in 15 years. Private investment jumped 14 percent and exports rose nearly 30 percent. Tourists returned to Thai beaches in near-record num- bers, up 12 percent that year. "The majority of foreign investments are not in Bang- kok," says Teeranan Srihong, president of Kasikornbak Pcl, referring to the manufactur- ers at the heart of Thailand's economy whose factories stud surrounding provinces.

would create uncertainty that would certainly make people edgy for a while," he said. Thailand's latest economic data - a snapshot of the economy before the protests - have been largely worse than economists expected, with factory output declining for a seventh succes- sive month in October, down 4.08 percent from a year earlier and a month-to-month decline of 0.85 percent. Exports fell 0.7 percent in Oc- tober from a year earlier and the central bank on Wednesday cut its 2013 GDP growth forecast to 3 percent, from a scaled down

with record 22.3 percent growth from January to October in tourism, a sector accounting for 9 percent of gross domestic product (GDP), and big infra- structure spending. That could be wishful thinking. Images of streets crammed with whistle-blowing demon- strators seeking to topple Prime Minister Yingluck Shinawatra jar with "Amazing Thailand" tourist advertisements. About 16 billion baht ($497.82 million) has been lost through holiday cancellations this month alone, just as peak season begins, says the Tourism Ministry. The protests could also add to delays in the injection of 2 tril- lion baht ($62 billion) into the economy through infrastruc- ture projects that have been on ice for months, bogged down in legal limbo from an opposition party challenge. "Real concerns come via further delays in infrastructure spending and impact on tour- ism, the two most likely drivers of Thai GDP next year," Credit Suisse economist Santitarn Sathirathai wrote in a research note. "These two components are likely to be sensitive to political and government stability," he said, adding that a snap election could return a weaker coalition that would struggle even more to push through big spending plans. Thailand's baht currency, now the fourth-weakest in Asia, is another factor. Even before the

“Images of streets crammed with whistle-blowing demonstrators seek- ing to topple Prime Minister Yingluck Shinawatra jar with “Amazing Thailand” tourist advertisements.”

jar with “Amazing Thailand” tourist advertisements.” 3.7 percent seen last month. Its surprise quarter-point

3.7 percent seen last month. Its surprise quarter-point interest rate cut to 2.25 percent stretched the baht's losses to

0.3 percent to a 10-week low of

Thailand". "Those who follow Thailand are aware how it has bounced back and right now, I don't see any major negative impact," said Rahul Bajoria, an economist at Barclays Capital in Singapore, referring to six days of anti-

"Thailand will be an attractive destination for foreign inves- tors over the long term." There's a nickname for

32.10 to the dollar on Wednes- day and economists expect a further weakening as foreign Foreign investors sold a net $1.5 billion in Thai shares this month. But these pressures were well in place before the

Shamil Zhumatov/Reuters


December 12-18, 2013


Myanmar Business Today

ChinaImportedGasPriceHikeMayBoost Imports

Chen Aizhu and Judy Hua

Imports Chen Aizhu and Judy Hua A Chinese worker walks past gas taps of the Kazakh

A Chinese worker walks past gas taps of the Kazakh stretch of the new 1,833-kilometre outside Almaty.

The ministry did not provide a comparison, but based on a previous rate of 0.88 yuan per cubic metre set in July 2010,


help big gas importers like PetroChina mitigate their losses from selling Central Asia gas and LNG at below cost,” Kwan said. - ral gas (LNG), or super-chilled

C hina has hiked the price

of imported natural gas

by more than a quarter

backdated to July 1 as it tries to encourage more deliveries

by pipeline and ship to cover

a winter shortage of the fuel,

industry experts said. The world’s top energy user has been in a severe gas short- age since early November that has forced rationing and the suspension of supply to some industries as it tries to guar- and transport use. “This is a small step in domes- tic gas pricing reform toward ensuring adequate supplies of gas in what could be a colder- than-expected winter,” said

Gordon Kwan, head of oil and gas at Nomura Research. Beijing is also expected soon to introduce other reforms in pricing the cleaner-burning fuel

to boost imports and encourage

the development of China’s shale gas resources. The average sales price for imported pipeline gas will be set

at 1.11 yuan ($0.18) per cubic

this would mark a 26-percent

to a statement on the Ministry

of Finance website.

“It (the price increase) will

gas shipped in tankers, domes- tic sales prices would be 31.45 yuan per gigajoule, according to the MOF, which industry ex- perts converted to around 1.20 yuan per cubic metres. The price adjustment is an apparent follow-up to Beijing’s move in June to raise gas prices for wholesale distributors sell- ing to non-residential users by national scale in three years. Top oil and gas producer PetroChina said in August it narrow its losses from selling imported gas below cost and - lion yuan ($3.27 billion) every year from 2014. PetroChina recorded a loss of 42 billion yuan last year for sell- low prices as mandated by the PetroChina imports LNG and also operates the coun- try’s cross-country gas pipe- lines from Central Asia and Myanmar. China, the world’s fourth- largest gas user, is encouraging greater use of the lower-carbon fuel, with consumption set to triple by 2020.


Myanmar Summary

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Banco do Brasil Looks to Asia for $1 Billion Loan, Sources Say Guillermo Myanmar Summary
Banco do Brasil Looks to Asia for
$1 Billion Loan, Sources Say
Myanmar Summary
S tate-controlled Banco
do Brasil SA, Latin
America’s largest
raise at least $1 billion in
of JPMorgan Chase &
Co, NP Paribas SA, HSBC
Holdings Plc and Stand-
ard Chartered Plc were
a chance to participate in
the deal. Banco do Brasil
declined to comment on
the loan plans.
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vufwiftar&du\ tBuD;qHk;
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bank by assets, is in talks
with a pool of lenders to
syndicated loan transac-
tion, two sources with
knowledge of the deal has
Banco do Brasil is seek-
ing to attract Asian inves-
Many Brazilian compa-
nies are actively market-
ing fundraising deals in
international debtmar-
kets before the end of the
year, with state-controlled
oil producer Petróleo
Brasileiro SA and mining
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tors to the deal, said one of
the sources, who declined
giant Vale SA considering
the transaction is in the
works. A second source
said the loan would have
two portions of three and
four years, respectively.
the sale of global bonds
within weeks.
Vale, Petrobras and
Banco do Brasil could
obtain fresh funds for
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the sources detailed the
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targeted cost of borrowing
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December 12-18, 2013


Myanmar Business Today

Work Ethic, Comic Hero Make Koreans Hot Shots in Car Design

Myanmar Summary

Norihiko Shirouzu and Hyunjoo Jinwon

Lucy Nicholson/Reuters
Lucy Nicholson/Reuters

College of Design in Pasadena, California.

“K-team”. Tim Lee, GM’s global manu- facturing chief and China unit chairman, says most global brands are now equally capable on quality and technology. “What sets us apart? Great de- sign and (economies of) scale,” he said, noting a successful au-

He later moved to Volkswagen and then to the German group’s Bentley unit. Another member of the Camaro team was Steve Kim, a Korean native, who is a director at GM’s design studio in Seoul. The two used to work in the basement of Lee’s house

prices. At Toyota, Jinwon Kim led the design of the FJ-Cruiser, an edgy sport utility vehicle.

Mercedes-Benz designer Hu-

bert Lee, American-born but who grew up in Seoul, master- minded the styling of the CLS luxury coupe, and Jay Jongwon Kim is a rising talent at Opel, one of the design brains behind the Monza concept car that won plaudits at this year’s Frankfurt auto show.

“Koreans are extremely good

designers, well trained and

dozen Koreans are among several hundred professionals working at the main US studio in Warren, Michigan – and are

in northwest England. Four years ago, Lee led a Korean-Russian-Brazilian team that redesigned the new Cama-

disciplined,” said Chris Bangle, a former BMW design chief who now runs a design consultancy

in Italy.

Bumsuk Lim, a Korean native and a professor of car design at

the Art Center College of Design

in Pasadena, California – widely

regarded as the Harvard of auto

design – says the rise of Korean

designers is a result of a turn in

the global industry. “In most mature markets people have moved on and cars are gener- ally nothing more than a means

of transportation,” he said. “In Korea and, increasingly, China, people still dream of owning cars and they’re considered

a status symbol,” making car

design a desirable profession. In a typical class of 12-15 stu- dents at the Art Center, more than half are Asian, and half of those are Korean, noted Lim,

in a Detroit suburb, often late into the night tossing around

to conjure up the new Camaro.

I n today’s auto industry, where famed Japanese quality and durability are

increasingly a given, design is

king and, among designers, South Koreans are hot property. From General Motors’ bold Chevrolet Camaro to the quin- tessential British gentlemen’s Bentley, more top models of a group of designers from South Korea, which some have dubbed “Asia’s Italy” for its impact on car design, fashion and aesthetics. As competition in the industry becomes ever more cut-throat, partly as gaps in quality and technology narrow, automakers need bolder, edgier designs to - ent pool, South Koreans stand out. Designers, including Sangyup Lee, Jinwon Kim and Jay Jong-

ro for launch by GM in 2009.

at automakers in the United States and Europe, and even at Toyota Motor, as well as, of

course, at Hyundai Motor and Kia Motors. Theories for this Korean wave vary: from Hyundai’s rise and the nation’s work ethic, to a societal emphasis on external beauty – Korea has a thriving cosmetic surgery industry – and the impact of a 1990s comic book and TV series called “As- phalt Man”, which starred local heartthrob Lee Byung-hun as a young car designer. The aspir-

Motors in 2002, close to three

At GM, the Detroit automaker that bought failed Daewoo

“a lot of kids, including me, at the time,” said Sangyup Lee, who is in charge of exterior design and advanced design at Bentley’s main studio in Crewe,

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December 12-18, 2013


Myanmar Business Today

Macau’s Junket Operators Prowl SE Asia to Expand VIP Business

Junket Operators Prowl SE Asia to Expand VIP Business A gambling table at a casino in

A gambling table at a casino in Macau.

Farah Master


Solaire’s plush ocean-

front casino in Manila,

the dealers speak Mandarin, the players are Chinese and rev- enue from high-roller gamblers is rising rapidly. "It's almost not in the Philip-

pines. It's more like you're in Macau," says Francis Hernando, the Philippine gam- ing body's vice president for licensed casino development.

Wealthy Chinese gamblers are a grow- ing presence in Asia’s emerging casino hubs as Macau's junket op- erators use their home base as a springboard to grow their high- roller business across the region. "The junkets are very aware and are looking all over Asia to expand. It's the biggest expan- sion phase ever right now," said Ben Lee, Asia gaming consultant at Macau-based con- sultancy IGamiX.

it harder for wealthy punters to remain anonymous are two of the regulatory changes prompting the junkets to alter their business model. As a result, the proportion of Macau's gaming revenue from VIPs has fallen to its lowest share since 2006, while spend- ing by middle-class, mass- market gamblers - who do not rely on Macau's idiosyncratic

junket system - is surging. Armed with extensive custom- er networks and deep pockets thanks to monthly turnover of up to $9 billion, the junkets are now trying to repeat the Macau formula in countries such as

Cambodia, the Philippines and

Vietnam. Suncity, Heng Sheng Group, David Group, Tak Chun, Jimei Group, Golden Group, Mega Stars and Golden Dragon are some of the Macau junket op- erators scouting opportunities overseas. Emerging casino hubs in Southeast Asia have lower

just one way the junket operators - which earn commissions from casinos to attract "big whale" gamblers - are responding to pres- sures at home as Beijing strives to turn Macau into a mass- market tourist destination. Caps on the supply of gaming tables that Macau's casinos can install and new rules that make

tourist destination. Caps on the supply of gaming tables that Macau's casinos can install and new



December 12-18, 2013


Myanmar Business Today

Holiday Weekend Sales Dip on Discounts, E-CommerceJumps

But many have given modest forecasts for the quarter. Wal- Mart Stores Inc said it expects no growth in its US comparable sales, and Macy's Inc didn't

ing weekend as shoppers spent almost 3 percent less than they did a year earlier, according to

data released by an industry

group. That could be an indication of

Christmas compared with 2012

- prompted retailers to begin earlier than usual, something Shay said likely pulled some the week. The NRF stuck to its forecast for retail sales to rise 3.9 per- cent for the whole season. Chad Hastings, the general manager of Town East Mall in Mesquite, Texas, near Dallas, said shoppers were even more focused this year on specials,

noting a higher correlation be-

looking to entice today's very budget-conscious and value- focused shopper," said NRF Chief Executive Matthew Shay. The NRF said 141 million peo- ple went shopping at least once during the holiday weekend, up from 139 million last year. But total spending was expected to reach $57.4 billion for the four- day period - which includes Black Friday, the biggest shop- ping day of the year - down 2.8 percent from $59.1 billion over the same weekend in 2012. The big deals will also dent "Sales will go up, but gross margins are going to be down. Doorbusters were what people were shopping for, more than Inc, eBay Inc, Friday fell 5.2 percent and that

Ron Friedman, retail practice

Walmart, Best Buy Co Inc and

Target Corp, comScore said.

Retailers are also being ag- gressive online as they look to

- ent stores, doing more online research beforehand. But shoppers spent more

Marcum LLP. The Thanksgiving weekend is an early gauge of consumer mood and intentions in a season that generates about 30 percent of sales and nearly 40 percent of

tween the timing of doorbusters

his mall over the weekend. "Retailers are doing whatever they can to get that wallet share earlier," Hastings said. Town East Mall's anchor tenants in- clude J.C. Penney, Macy's and Sears. ComScore Inc, an analytics

J.C. Penney Co Inc and Macy's were among retailers that had already begun their "Cyber

Phil Wahba

that had already begun their "Cyber Phil Wahba Shoppers walk past a Barneys store in New

Shoppers walk past a Barneys store in New York.

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av;&ufwmumvtwGif; tar&duef a':vm 57.4 bDvD,Htxd a&muf&Sd rnf[k cefYrSef;od&Sd&NyD; 2012 ckESpfwGif tar&duefa':vm 59.1 bDvD,H &&Sd cJhonfhtwGuf ,ckESpfwGif 2.8 &mcdkif EIef; usqif;cJhaMumif; od&onf/a&mif;cs rIrsm;onf jrifhwufvmvdrfhrnfjzpf aomfvnf; pkpkaygif;0ifaiGrsm; usqif;

vdrfhrnfjzpfaMumif;? yHkrSefaps;EIef;&Sdonfh ukefpnfrsm;xuf aps;EIef;oufomaom ukefpnfrsm;udkom 0,f,lcJhMuaMumif; Marcum LLP twdkifyifcHvkyfief;rS vufvDvkyfief;ydkif;qdkif&m tBuD;tuJ wpfOD;jzpfonfh Ron Friedman u ajymMum;cJhonf/ Thanksgiving tm;vyf&ufumv wGif a&mif;cs&rIonf vufvDvkyfief; rsm;\ wpfESpfwm0ifaiGtwGuf rsm;pGm oufa&mufrI&SdaeNyD; wpfESpfwm a&mif;cs &rI\ 30 &mcdkifEIef;txdESifh vufvD vkyfief;rsm;twGuf tjrwfaiG&&SdrIpkpk aygif;\ 40 &mcdkifEIef;txdudk tqdkyg tm;vyf&uftwGif; &&SdaMumif; od& onf/tqdkyg tm;vyf&ufumvtwGif;

a&mif;cs&rIudk vltawmfrsm;rsm;u

tweftoifha&mif;cs&rnf[k cefYrSef;


vmrnfr[kwf[k arQmfrSef;xm;ovdk Macy's Inc uvnf; vGefcJhonfh oHk;vywfumvtwGif; a&mif;csrItm; a&mif;csrI arQmfrSef;csufudk wdk;jr§ifhrIrjyK vkyfcJhaMumif; od&onf/,ckESpf tm;vyf

&ufrSm vGefcJhonfhESpfxuf ydkrdkwdkawmif; NyD; Thanksgiving ESifh c&pfprwf umvtwGif; vufvDvkyfief;rsm;twGuf a&mif;cs&ef ajcmuf&ufavsmhoGm;cJh aMumif; od&onf/ NRF rS wpfESpf wmvHk; vufvDa&mif;csrI wdk;wufrIEIef; rSm 3.9 &mcdkifEIef;&Sdrnf[k cefYrSef;xm; cJhonf/

xm;cJhMuNyD; Wal-Mart Stores Inc

H eavy discounting took

a toll on US retail sales

during the Thanksgiv-

raise its full-year sales forecast despite strong numbers last quarter. The shorter holiday period this year - there are six fewer days between Thanksgiving and

retailers. One bright spot this weekend, according to the data, was e-commerce as online sales soared. The National Retail Federa- tion (NRF) estimated the aver- age shopper spent $407.02 over the weekend, or 3.9 percent less than during the same weekend last year, because of lower pric- es it said would persist through the rest of the season. "Retailers will continue to aggressively promote their

Monday" sales on Sunday,

17.3 percent on Thanksgiving and Black Friday, outpacing sales growth at brick-and- mortar stores. ComScore has forecast a 16 percent jump in online sales for the season, helped by greater use of mobile devices. The most visited e-commerce sites in order were those of

looking to keep the momentum going. Target was calling the occasion "Cyber Week." The NRF predicted 131 million Americans would shop online on Cyber Monday, compared with 129 million last year. found overall shopper traf-

money in the stores they did

which falls on December 2 this year. Cyber Monday is the big- gest sales day of the year for e-commerce.

go to, and Shelley Kohan, vice president, retail consulting at RetailNext, said that a website good enough to make shoppers want to visit a store is more crucial now than ever. "Shoppers have more op- tions," Kohan said. Reuters

Myanmar Summary

tm;vyf&uf owå

ywftwGif; tar&duefvufvDa&mif;cs rIrsm;wGif aps;EIef;avQmhcsa&mif;csrIrsm; udk jyKvkyfcJh&NyD; aps;0,folrsm;\ oHk;pGJrI onfvnf; vGefcJhonfhESpfESifhEdIif;,SOfvQif 3 &mcdkifEIef; avsmhusoGm;aMumif; od& onf/


“Retailers will continue to aggressively promote their in-store and online offerings, looking to entice today’s very budget-conscious and value- focused shopper,”

their in-store and online offerings, looking to entice today’s very budget-conscious and value- focused shopper,”



December 12-18, 2013


Myanmar Business Today

GrainCorp Rejection Tarnishes Australia’s Reputation as “Open for Business”

Australia’s Reputation as “Open for Business” in the country. Jane Wardell "There are so many myths

in the country.

Jane Wardell

"There are so many myths out there and we are in competition with others for deals." In reality, FIRB passes the

a deal goes to FIRB it is the end of the deal," said Brennan. Scott Weldon, director research and trading at Dux- ton Asset Management in

Singapore, said the bid was

A ustralia's "open for busi-

ness" sign is swinging

precariously in the wind

vast majority of deals it reviews. It rejected just 13 of more than

2012, all related to real estate.

for Australia's Warrnambool Cheese and Butter Factory Holdings Ltd, Canada's largest dairy maker Saputo Inc found its A$515 million bid quickly waved through by the FIRB. Aware of the potential reper- cussions of the ADM rejection, Prime Minister Tony Abbott said he wanted to "make it ab- solutely crystal clear that we are open for business, we are open for foreign investment".

after the government blocked

a A$2.8 billion ($2.6 billion)

takeover of GrainCorp by US agribusiness giant Archer Dan-

iels Midland (ADM). The surprising decision to bow

to pressure from grain grow- ers is likely to spook foreign investors, who already think that pushing a deal through in Australia is tough, international lawyers and bankers who work in mergers and acquisitions said. Treasurer Joe Hockey rejected the deal - the third-biggest takeover by a foreign company

in Australia to be blocked - after

the Foreign Investment Review Board (FIRB) had failed to reach a consensus recommendation.

Citing national interest, Hock- ey said domestic grain growers were concerned the takeover of

a company handling a third of

Australia's wheat production would reduce competition and impede their businesses. Although the rejection does not set a legal precedent be- cause prospective foreign deals are judged by FIRB on a case- by-case basis, it reinforces the perception Australia is not as open for business as it likes to think. "We need to be careful about the message we are sending," said Malcolm Brennan, a spe-

the reality does not weigh heav-

& Wood Mallesons, where he

advises clients on Australia's foreign investment regime.

ily enough on the perception. "Chinese and other Asian investors are of the view that

rejected on "potentially rea-

sonable grounds" because of

GrainCorp's national strategic importance and dominance in the market. "We would hope this does not - ing smaller foreign investments into the agricultural sector," Weldon said. Duxton manages around $430 million in agricul- tural assets for its clients. The American Chamber of Commerce in Australia said it was very concerned about

“We would hope this does not reflect a change for policy affect- ing smaller foreign investments into the agricultural sector,”

foreign investments into the agricultural sector,” the signal the ADM decision sends to other potential foreign

the signal the ADM decision

sends to other potential foreign

investors. "Like many others, AmCham had been watching this par- ticular investment application

carefully, knowing it would

inevitably have a real impact on American and foreign percep- tions of Australia as a place to invest," Niels Marquardt said.

foreign investment applications since his conservative Liberal Party-led Coalition government took power in September.

The US is the largest foreign investor in Australia, with a stock of foreign direct invest- ment approaching $150 billion. Marquardt said he recognised the ADM decision was a statisti- cal anomaly, but "nonetheless we are concerned about its impact." Of major concern is the role played by politics and public opinion in the ADM deal. The purchase had previously been approved by Australia's com- petition regulator and analysts had expected it to proceed. But it was unpopular with farmers and many voters and had stoked divisions between Abbott's Liberal Party and its junior partner, the rural-based National Party. "The new government is seem- ingly more sensitive to factors and smaller farmers' ability to do business, which constitute a large portion of their supporter base," said Weldon, of Duxton Asset Management. Parallels could be drawn with the intense political debate that surrounded the landmark $15.1 billion acquisition of Canadian company Nexen Inc by state- Ltd earlier this year. That purchase resulted in a policy backlash by the Canadian government, which raised the bar for future acquisitions by state-owned enterprises of its vast oil sands reserves, limiting them to minority stake holders. Adam Strauss, a partner at Herbert Smith Freehills, a law Ltd in a potential buyout by its Chinese parent, Yan- zhou Coal Mining Co Ltd , said the ADM decision highlighted the need to play a political as well as an investment game. "I think a lesson for foreign investors is really about manag- ing stakeholders in the media and politics so you don't lose control of the way the deal is perceived," Strauss said. "ADM probably lost control of the debate and failed to win those stakeholders over in terms of Reuters

Myanmar Summary


"open for business"

qdkonfhtcsuftaejzifh tpdk;&rS Mop aMw;vsa':vm 2.8 bDvD,H wefzdk;&Sd onfh GrainCorp tm; tar&duef vkyfief;BuD;jzpfonfh Archer Daniels Midland (ADM) rS vufvTJ0,f,l

rIudk ydwfyifwm;jrpfcJhrIaMumifh ra&&m raorcsmjzpfvmcJhNyDjzpfaMumif; od& onf/ ,ckuJhodkY tpdk;&rS tHhtm;oifhzG,f qHk;jzwfcsufu EdkifiHjcm;om;&if;ESD;jr§KyfESH olrsm;udk ajcmufvSefYvkdufonfhtoGif&Sd aeNyD; &if;ESD;jr§KyfESHolrsm;taejzifhvnf; MopaMw;vswGif vkyfief;oabmwlnD csufwpfck &&Sd&eftwGuf aqmif&Guf& onfrSm cufcJaMumif; ,cifuwnf;u awG;xifcJhMuaMumif; tjynfjynfqdkif&m Oya'tusKd;aqmifrsm;ESifh bPfvkyfief; &Sifrsm;u ajymMum;cJhMuonf/

b@ma&;rSL; Joe Hockey u MopaMw;vswGif wwd,tBuD;qHk; EdkifiH jcm;vkyfief;wpfckrS vkyfief;vTJajymif; 0,f,lrIoabmwlnDcsufudk wm;jrpfcJh jcif;jzpfNyD; jynfy&if;ESD;jr§KyfESHrIqdkif&m oHk;oyfa&;bkwftzGJU (FIRB) rS trsm; oabmwlqE´&&Sd&ef BudK;yrf;cJh&mwGif ratmifjrifcJhNyD;aemuf b@ma&;rSL;u ,ckuJhodkY vkyfief;vTJajymif;0,f,lcGifh oabmwlnDcsuftm; wm;jrpfvdkufjcif; jzpfonf/trsKd;om;tusKd;pD;yGm;ESifh pyf vsOf;í jynfwGif;*sKHpdkufysKd;olrsm;tae jzifh vkyfief;vTJajymif;0,f,lrIudk rsm;pGm tav;xm;MuNyD; tqdkygukrÜPDonf MopaMw;vs\*sKHxkwfvkyfrI oHk;yHkwpfyHk txdudk xkwfvkyfaeonf/ vkyfief;vTJ ajymif;0,f,lrIaMumifh ,SOfNydKifEdkifrIrsm; udk xdcdkufaprnfjzpfovdk *sKHpdkufysKd; vmrnfudk pdk;&drfrIrsm;&SdaeaMumif; od& onf/ Oya'vkyfief;jzpfonfh King &

rS Oya'tusKd;

aqmifwpfOD;jzpfonfh Malcolm

Wood Mallesons

Brennan u rdrdwdkYtaejzifh azmuf onfrsm;tm; MopaMw;vs\ EdkifiHjcm; &if;ESD;jr§KyfEHSrIqdkif&m rl0g'ESifhpyfvsOf;í tBuHÓPfay;rIrsm;wGif taotcsm *½kwpdkufaqmif&GufoGm;&rnfjzpfaMumif; ajymMum;cJhonf/ FIRB taejzifh omreftm;jzifh vkyfief;oabmwlnDrIrsm;aqmif&GufcGifh udk ay;avh&SdNyD; 2012 b@ma&;ESpf

wGif tdrfNcHajru@ü tqdkjyKavQmuf

xm;rI 11000 wGif 13 ckudkom jiif;y,fcJhaMumif;vnf; od&onf/ &if;ESD;jr§KyfESHolrsm;taejzifhvnf; ,ck uJhodkY *sKHvkyfief;BuD;tm; 0,f,lrIudk wm;jrpfcJhonfhtwGuf MopaMw;vs\ vkyfief;rsm;tm; wHcg;zGifhvkyfaqmifjcif;? &if;ESD;jr§KyfESHolrsm;tm; wHcg;zGifhay;xm; jcif;qdkonfhtcsufudk oHo,0ifcJhMu aomfvnf; 0efBuD;csKyf Tony Abbott

u rdrdwdkYtaejzifh vkyfief;rsm;ESifh

&if;ESD;jr§KyfESHrIrsm;twGuf wHcg;zGifhay; xm;onfqdkonfhtcsufudk vHk;0aocsm ap&ef vdktyfaMumif; ajymMum;cJhonf/

Jared Ferrie/Reuters


December 12-18, 2013


Myanmar Business Today

MyanmarLooksAbroadforInvestment in Healthcare

Singapore healthcare pro- vider AsiaMedic Ltd said in a June statement it had signed an initial joint venture agreement with Five Oceans Service Co Ltd, a Myanmar company, to invest at least $3 million to set up diagnostic scanners in two hospitals in the northern city of Mandalay. Patients in Myanmar cur- rently have to travel to cities such as Bangkok and Singapore for scans. A spokesperson for AsiaMedic told Reuters on November 5

Asia's best healthcare systems. These days, hundreds of patients are forced to sleep in corridors of the hulking, colonial-era red-brick building, emergency ward and garbage is piled in corners. It is a scene that Myanmar's reformist government hopes to change as it ratchets up spend- ing on the sector and seeks foreign investment to revive one of Asia's sickest healthcare systems. Several leading regional healthcare companies are already operating in Myanmar and others plan to enter soon, seeing huge potential in the country's underserved popula- tion of about 60 million people. Attracting foreign investment is part of an overhaul of the healthcare system by the quasi- civilian government that took over from the army in 2011. The administration of President Thein Sein has cut military spending and raised healthcare funding to 3 percent of govern- to March 31, from 1 percent the previous year. As with many sectors, how- being held back by uncertainty over rules for foreign investors. The health ministry is drawing up regulations for foreign hos-

pital operators to open facilities in Myanmar independently or through joint ventures, said a

requested anonymity as he was not authorized to speak to media. Bangkok Dusit Medical Services Pcl, Thailand's largest private hospital group, sees My-

working with the government

priority for foreign investment",

that the companies had yet to

Jared Ferrie

whether healthcare will be free

or subsidized.

The healthcare system wasted away during decades of neglect under military rule, so that cur- rently the high price is beyond the means of many in one of Asia's poorest countries, while seek treatment overseas. When Aung Myint, 67, was

diagnosed with liver cancer in 2005, he went to Thailand rath- er than be operated on in My- anmar, where a family member had died of tetanus after under-

president of the Myanmar Red Cross Society in 2004 after working in the public health system since 1966, said the increased spending was already paying dividends. "Lately, I would say it's improving quite drastically," he said. Aung Myint Lwin, the senior administrator of Yankin Chil- dren's Hospital in Yangon, said increased funding has meant his 550-bed hospital can now supply drugs free of charge to He said he hoped the hospital

Y angon General Hospital was once the jewel in the crown of one of Southeast

was once the jewel in the crown of one of Southeast healthcare systems. The role private

healthcare systems.

The role private companies will play in the healthcare sys- tem remains to be determined, said Hnin Hnin Pyne, a senior human development specialist with the World Bank who is

on healthcare reform.

going a minor operation. "It was my two sons, both

of them doctors, who insisted

I shouldn't receive the treat-

ments here," he said. In 2000, during the dark days of dictatorship, the World Health Organization ranked Myanmar second-last out of 191 countries surveyed for "overall

health system performance".

the poor? For me that is a mas- sive question," she said, adding that the government has set a goal to provide health coverage to all citizens by 2030. At a November 25 meeting in the capital, Nay Pyi Taw, Health Minister Pe Thet Khin said co- operation between the govern- ment and private sector would be key in achieving universal coverage, the state-run New Light of Myanmar newspaper reported. Hnin Hnin Pyne said the government was still deciding

patients in Myanmar had to cover 81 percent of their health- care costs themselves, the highest of any country in Asia, according to World Bank data. That compared with 56 percent

in Vietnam, 40 percent in Laos,

14 percent in Thailand and 35 percent in China. "Now, because public spend- ing has gone up, out-of-pocket is around 60 percent," said Hnin Hnin Pyne. "That doesn't mean it's not a problem." Tha Hla Shwe, who became

would one day be able to pro- vide free medical care to every child who visits the hospital.

"That is our dream," said Aung Myint Lwin. "In the near future I believe the dream will become true." Reuters

Myanmar Summary

&efukeftaxGaxGa&m*gukaq;½HkBuD; onf ,cifu ta&SUawmiftm&SwGif


rsm;udk axmufyhHay;EdkifcJhaom aq;½Hk BuD;wpfckjzpfcJhonf/,cktcg aq;½HkBuD; taejzifh usef;rma&;apmifha&SmufrIpepf tm; tqifhjr§ifhwif&eftwGuf vdktyf aeNyD; vlemrsm;twGuf ydkrdkaumif;rGef aom usef;rma&;0efaqmifrIrsm;udk axmufyhHay;Edkif&eftwGufvnf; BudK;yrf; aqmif&GufoGm;&rnfjzpfaMumif; od& onf/ jrefrmEdkifiH\ vuf&Sdtpdk;&taejzifh jyKjyifajymif;vJrIrsm;pGmudk taumif

Chatree Duangnet. But Duangnet added that the company was waiting for the government to make the invest- ment laws clearer. Amiruddin Abdul Satar, presi- dent of Kuala Lumpur-listed hospitals operator KPJ Health- care Bhd, told Reuters his com- pany was involved in the man- agement of one hospital already and the government had invited them to expand. The company declined to give further details or reveal the amount of its planned investment.

txnfazmfaqmif&GufcJhNyD; ,cktcg tm&S wGif usef;rma&;apmifha&SmufrIpepfrsm; ü tvGeftm;enf;aeonfhtwGuf EdkifiH

jcm;&if;ESD;jr§KyfEHSrIrsm;udk usef;rma&;apmifh a&SmufrIu@ü vma&muf&if;ESD;jr§KyfESH Muap&eftwGuf tcGifhtvrf;aumif; rsm;udk &SmazGaeaMumif;vnf; od&onf/ tm&SrSxdyfwef;usef;rma&;apmifha&Smuf rIvkyfief;rsm;taejzifh jrefrmEdkifiHwGif vkyfief;rsm; aqmif&GufaeMuNyDjzpfovdk tjcm;vkyfief;rsm;taejzifhvnf; vkyfief; aqmif&Guf&eftwGuf jyifqifaeonfh twGuf oef;ajcmufq,feD;yg;&Sdaom jrefrmjynfolrsm;twGuf tvm;tvm aumif;wpf&yfyifjzpfonf/usef;rma&; apmifha&SmufrIpepfrsm;tm; tqifhjr§ifh wif&eftwGuf EdkifiHjcm;&if;ESD;jr§KyfESHrI rsm;tm; zdwfac:jcif;onf ta&;ygNyD; vuf&Sdtpdk;&taejzifh ppfa&;toHk;p&dwf

udk 3 &mcdkifEIef;avQmhcscJhNyD; usef;rma&;

toHk;p&dwftm; 3 &mcdkifEIef; jr§ifhwifcJh aMumif;vnf; od&onf/ yk*¾vduvkyfief;rsm;rS ajymMum;csuf t& EdkifiHjcm;&if;ESD;jr§KyfESHolrsm;taejzifh pnf;rsOf;pnf;urf;ydkif;qdkif&m tm;enf; csufrsm;aMumifh &if;ESD;jr§KyfESHrIrsm; aemuf jyefqkwfoGm;EdkifaMumif; od&onf/ usef;rma&;0efBuD;XmerS EdkifiHjcm;rS usef;rma&;apmifha&SmufrIqdkif&mvkyfief; rsm;twGuf pnf;rsOf;pnf;urf;rsm;tm; a&;qGJaeNyD; EdkifiHjcm;vkyfief;rsm;taejzifh jrefrmEdkifiHwGif jynfwGif;vkyfief;wpfckESifh yl;aygif;íjzpfap? oD;oefYtjzpf vkyfief; ydkifqdkifrItjynfht0jzifh aqmif&Gufvm EdkifzG,f&Sdonf/jrefrmEdkifiHtm; EdkifiHjcm; &if;ESD;jr§KyfESHrIrsm; jyKvkyf&eftwGuf yxr OD;pm;ay;aps;uGufwpfcktjzpf xdkif;EdkifiH \ yk*¾vduusef;rma&;apmifha&SmufrI vkyfief;wpfckjzpfonfh Bangkok Dusit

rS ½Ijrifxm;

aMumif; tqdkygvkyfief;\ tBuD;tuJ

Medical Services Pcl


u ajymMum;cJhonf/

odkYaomfvnf; ukrÜPDtaejzifh jrefrmh &if;ESD;jr§KyfESHrIOya'tm; jrefrmtpdk;&rS &Sif;&Sif;vif;vif;jzpfvmaponfhtcsdef ukd apmifhpm;aeaMumif;vnf; ajymMum;

cJhonf/ KPJ Healthcare Bhd rS Ouú| Amiruddin Abdul Satar u

wpfcktm; pDrHcefYcGJrItydkif;wGif yg0ifcJh

NyD; tpdk;&taejzifhvnf; vkyfief;wdk;csJUrI

jyKvkyf&ef zdwfac:cJhaMumif; ½dkufwm owif;XmeodkY ajymMum;cJhonf/ pifumylEdkifiHrS usef;rma&;apmifha&Smuf rIvkyfief;wpfckjzpfonfh AsiaMedic

Ltd u jrefrmukrÜPDwpfckjzpfonfh


Five Oceans Service Co Ltd

tusKd;wlyl;aygif;cGifhqdkif&m ueOD; oabmwlnDcsufudk vufrSwfa&;xdk;cJh





Andrew Winning/Reuters


December 12-18, 2013


Myanmar Business Today

All Asia Asset Capital Acquires 7 pc Stake inMyanmarAllureGroup

UK 4 th inFDI, January-September

Oliver Slow

B ritain is listed fourth in foreign investment to Myanmar after investing more than US$ 256 million between January and September, according to Directorate of Investment and

Su Su

jynfwGif;vkyfief;wpfckjzpfonfh Myanmar

Companies Administration (DICA).

Britain has invested more than US$ 3 billion in 62 businesses and currently stands behind China, Thailand and Hong Kong. Total

foreign investment to Myanmar is over US$ 43 billion. British companies invested mainly in oil and natural gas, con- sumer goods production and transport sectors. The Myanmar Investment Commission (MIC) has allowed Leisure Holdings Asia Ltd. and HC (Asia) Holding Co. Ltd. from Britain the right to do business in Myanmar.

has allowed Leisure Holdings Asia Ltd. and HC (Asia) Holding Co. Ltd. from Britain the right

I nvestment group All Asia Asset Capital (AAA) has, through a special-purpose

variety of entertainment activi- ties including gaming, shopping and cultural sightseeing.

Allure Group (MAG) wGif vkyfief;

&S,f,m 7 &mcdkifEIef; 0,f,lcJhaMumif; od&onf/





According to a report, MAG plans to expand its business

wholly-owned subsidiary, acquired a minority 7 percent

operations, including the de-

velopment of a new building at the site, as well as forming partnerships with other gaming operators to further increase the demand in the sector. On completion of the acquisi- tion, AAA will pay $2 million in

cash to MAG. that the acquisition will provide

Myanmar Allure Group (MAG). “The board is excited about the investment in the Myanmar Allure Group, which in our view is solidly in line with our investing policy,” said Dr Sri Hartati Kurniawan, AAA chief

Group (MAG) wGif &if;ESD;jr§KyfESHrI

twGuf tvGefyif 0rf;ajrmuf0rf;omjzpf aeaMumif; AAA \ trIaqmifcsKyf

u ajym

Dr Sri Hartati Kurniawan

Mum;cJhonf/ ,ckuJhodkY vkyfief;0,f,lrIonf ukrÜPD twGuf 0ifaiGudk ydkrdkwdk;wufvmaprnf jzpfovdk aemufxyftcGifhtvrf;opf rsm;udkvnf; zefwD;Edkifrnfjzpfum AAA \ &S,f,m&Sifrsm;twGufvnf; tusKd; xyfavmif;ajymMum;cJhonf/ MAG onf xdkif;EdkifiHESifh jrefrm EdkifiHwdkYwGif tajcpdkufvkyfaqmifNyD; wmcsDvdwfwGif [dkw,fESifhtyef;ajzae &mrsm;twGufvnf; vkyfief;rsm; aqmif &GufaeaMumif; od&onf/ MAG taejzifh pD;yGm;a&;vkyfief; rsm;udk csJUxGif&efvnf; jyifqifaeNyD; AAA rS&S,f,m0,f,lrItwGuftar&d uefa':vm 2 rDvD,HMAGodkYay;tyf oGm;&rnfjzpfaMumif;od&onf/

an avenue for the company to create further opportunities to deliver value to AAA sharehold- ers,” he added. Based in Thailand and Myan- mar, MAG, which comes under

to deliver value to AAA sharehold- ers,” he added. Based in Thailand and Myan- mar, MAG,

the Star Sapphire Group of Companies, operates the Allure Resort, an 11-acre hotel, resort and gaming facility located in the Tachileik province of My- anmar, close to the Myanmar- Thailand Mae Sai border. Located close to the popular city of Chiang Rai in Thailand,


Myanmar Summary

tvufrsm;t& od&onf/ ,ckvuf&Sdü w½kwfEdkifiH? xdkif;EdkifiHESifh a[mifaumifwdkYaemufwGif NAdwdefonf trsm;qHk;&if;ESD;jr§KyfESHxm;oltjzpf&yfwnf aeNyD; vkyfief;aygif; 62 ckwGif tar &duefa':vm 3 bDvD,Hausmftxd &if;ESD;jr§KyfESHxm;aMumif; od&onf/

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Myanmar Summary


All Asia Asset Capital (AAA)


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December 12-18, 2013


Myanmar Business Today

12-18, 2013 22 Myanmar Business Today Thirty international companies have bid for offshore gas

Thirty international companies have bid for offshore gas blocks in Myanmar, including international giants such as Chevron and Total.

Oliver Slow

M yanmar has received

bids from 30 com-

panies, including

international oil companies and state-owned oil and gas com-

licensing round, according to data from the Ministry of

Energy. In this licensing round, the

blocks, as well as Statoil, who

– 11 in shallow water and 19 in deep water – and the interna- tional oil and gas community has shown key interest. Shell, in partnership with Japan’s Mitsui Oil Exploration Company, has bid for three

blocks, while Chevron has bid for two. ExxonMobil for two

is in partnership with Conoco-

Phillips, and Total. Thailand’s PTT Exploration and Production, which already has a heavy presence in the country, has bid for one block and Malaysia’s Petronas has bid

for two, as has India’s OVL. The 11 shallow water blocks water blocks, 12 are in the Ra- khine area, three in Moattama Bidder were allowed to submit a maximum of three bids each, and the blocks will be awarded under a production sharing agreement, although foreign ownership of some deepwater blocks. For the shallow blocks, foreign cal company, but the deepwater blocks are expected to grant stand-alone status.

Myanmar Summary

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Mitsui Oil Exploration Company

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2 cktwGuf wif'gavQmufxm;rI jyKvkyf xm;onf/ExxonMobil rS vkyfuGuf

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ConocoPhillips , Total

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and Production rSvnf; vkyfuGuf

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Oliver Slow

downtown Yangon, which will

a shopping mall and high-end


decades to come. It is there-

“Our economy is on the cusp

First Myanmar Investment

(FMI) has launched a K25

growth of the business, the company announced last week. The company will issue 2.5 million new ordinary shares, priced at K10,000 ($10) each, representing a discount of 20 percent on the current price of shares, the company said. The shares will be open for subscription by shareholders in accordance with Article 105 (C) of the Myanmar Companies Act from November 25 to Janu- ary 8 2014. Shareholders will be entitled to subscribe to one new share for every six existing shares held, and are entitled to apply for additional shares. Shares that are unsubscribed may be open for application to the public on 9 January 2014, in accordance with Article 93 (3) of Myanmar Companies Act. The allotment of the new shares is expected to take place one week after closing of subscription and will entitle their holders to any dividends for the Financial Year 2013-2014. The sale of these new shares is only available for Myanmar nationals.

I of exponential growth that may

not be easily repeated in the

Myanmar Summary


First Myanmar Investment (FMI)

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Oya' ESifhtnD

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fore our corporate strategy to proactively expand our existing

shareholders, the proceeds of

ups in the next two to three

years. To do so, we will need to strengthen our capital base and top up our war chest very quickly,” said U Theim Wai, chairman of FMI. The placement of 2.5 mil- lion new shares will be fully underwritten by SPA Myanmar for a fee of 2%. “The assurance of capital ensures that our strategic corporate plans can be implemented on a timely basis”, said U Theim Wai, who is also the Chairman of SPA Myanmar. Funds from the rights issue will be used in company projects such as in the Thilawa Special Economic Zone, in which FMI is committed to subscribing of the Myanmar consortium of the site. Other projects include expanding existing operations in tourism and automobile divi- sions, building up of FMI Air following the granting of a tem- as well as an additional invest- ment in Meeyahta International Hotel Ltd, a 10-acre mixed use property development in

billion ($25 million) rights is- sue for the company’s existing

operations and initiate start-


Kyaw Min

D aiwa Securities Group will advise Myanmar’s Asia Green Development (AGD) Bank as it prepares to go public on the country’s stock exchange, which is expected to be

implemented in 2015. At a signing ceremony in Yangon last week, chairman of AGD publicly traded company in the country. The deal was signed in Myanmar between the bank and Myanmar Securities Exchange Centre (MSEC), a Myanmar company owned by the Daiwa group and state-owned Myanmar Economic Bank. MSEC and Daiwa Securities Co, Daiwa’s investment banking arm, will provide assistance in areas including negotiations with count professionals. Takashi Hibino, said the signing represents an important step for the development of an equity market in Myanmar.

Myanmar Summary

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