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Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.
Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.
For more information please visit our website www.mmbiztoday.com.
Facebook: www.facebook.com/MyanmarBusinessToday
Twitter: @mmbiztoday
Linkedin: http://www.linkedin.com/company/myanmar-business-today
Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.
Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.
For more information please visit our website www.mmbiztoday.com.
Facebook: www.facebook.com/MyanmarBusinessToday
Twitter: @mmbiztoday
Linkedin: http://www.linkedin.com/company/myanmar-business-today
Drepturi de autor:
Attribution Non-Commercial (BY-NC)
Formate disponibile
Descărcați ca PDF, TXT sau citiți online pe Scribd
Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.
Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.
For more information please visit our website www.mmbiztoday.com.
Facebook: www.facebook.com/MyanmarBusinessToday
Twitter: @mmbiztoday
Linkedin: http://www.linkedin.com/company/myanmar-business-today
Drepturi de autor:
Attribution Non-Commercial (BY-NC)
Formate disponibile
Descărcați ca PDF, TXT sau citiți online pe Scribd
MYANMARS FIRST BILINGUAL BUSINESS JOURNAL www.mmbiztoday.
com December 12-18, 2013 | Vol 1, Issue 45
Myanmar Summary Contd. P 6...(Rice Lxport) 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. S o e
Z e y a T u n / R e u t e r s Myanmar Looks to Double Rice Export Kyaw Min C urrently the basket case, Myanmar was once the rice bowl of Asia. 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 worlds largest exporter of rice, shipping around 1.7 million tonnes per year. By 1qq;, LIuL hgure Iud dropped to 15,000 tonnes, according to hgures Irom US DepurLmenL oI 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 Contd. P 6...(Rice Lxport) Government to Look to International Companies on Dawei Italian-Tai Developments role halted but not over, of cials say Oliver Slow 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 by ITD and that once this was hnuIIsed, compunIes wouId be invited to apply for licenses. No company in the whole Contd. P 8...(Lawei) Myanmar Summary Contd. P 8...(Lawei) :.~e~....:..q.~,~ .|~ ..:q~.q,~~~ _.,.:. . ~_ ._ _ ._ . q:~ . ~ .:.~~ ~ ~.|..'..:..__e.._~:. .q ._. :.~e ~ .. .. :..q.~ , ~:. e. ~ Italian-Thai Development . . . ~ , .e _e .~ .~~ .q...: q ~ . ~ ~. ~~:~, e :._.. e. ~.|~._.: . ~. .:. _.. . . ~: ~_._ _._ . q: ~ . ~ .:.~:. ~ .|..'. _. . . . ~ , . ~ .|~ ..: q ~ .q.~~ ~ _~ ... . ..:q~.:..~:.__e.._. :. ~e . . ~ , . - ~ __ e. . ..~._.~ q,~,_ _......: .~..:q....~ _.,.:~..q . .~..q~. ~.~ .~ e ._ .. _. . ~. .|~ . ~ . . . . : Special Purpose Vehicle (1) . Special Purpose Vehicle (2) _e._.. ..'.: . . e ..| ..:.. : ~, e .q ._ :.~e . . ~ , .e _e .~ .~~ . ~~ ~ ...: _ ..:q~.:..__e.._~:. ._.: _~:..._. e.~ _.,.:.._ ~:q~ .,~...~,..~.._e.. ._. ~'~ .... ~', ....qe ..~..q.~~~ _.,.:.- ...:..q.._ e_e.~.~~..:..: ~. .. q._ .e. ~ ~. : . ~, . December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com 2 LOCAL BIZ Myanmar Summary MYANMARS FIRST BILINGUAL BUSINESS JOURNAL Board of Editors Editor-in-Chief - Sherpa Hossainy Deputy Editor - Oliver Slow Reporters & Writers Sherpa Hossainy, Oliver Slow, Kyaw Min, Shein Thu Aung, Phyu Thit Lwin, Htet Aung, Su Su, Aye Myat, Daisuke Lon, Yasumasa Hisada Art & Design Zarni Min Naing (Circle) DTP May Su Hlaing Translators Shein Thu Aung, Phyu Maung Advertising Tay Zar Zaw Win, Seint Seint Aye, Moe Hsann Pann Advertising Hotline - 09 7323 6758 Managing Director Prasert Lekavanichkajorn pkajorn@hotmail.com Email Editor - sherpa.hossainy@gmail.com Special Publications - oslow99@gmail.com Advertising - sales.mbtweekly@gmail.com Designer - zarni.circle@gmail.com Phone Editor - 09 42110 8150 Deputy Editor - 09 3176 9529 Designer - 09 7310 5793 Publisher U Myo Oo (04622) 22A Kaba Aye Pogoda Rd, Bahan Township, Yangon, Myanmar. Tel: 951-2301568, 951-2301569, 951-2301570 Fax: 951-8603288 ext: 007 Penbun Distribution Co., Ltd. Tel: (662) 6158625-33 Fax: (662) 6158634 Distributor (Bangkok) Subscription & Circulation Aung Khin Sint - aksint2008@gmail.com 092043559 Nilar Myint - manilarmyint76@gmail.com 09421085511 Iast week, President Thein Sein made his rst visit to the PhiIippines. F ile s Thein Sein Makes Maiden Philippines Visit P resident Thein Sein visited the Philip- pines last week, his maiden visit to the archipelago. During his three-day visit, Thein Sein met his Philippine counterpart, Benigno Aquino I I I , in an attempt to bolster ties and also discuss trade, investment, agriculture and visa-exemptions. The visa agreement is expected to allow Filipi- nos to enter Myanmar without gaining a visa hrsL. Myunmur resIdenLs can already enter the Philippines visa-free. The Philippines were a harsh critic of Myan- mars 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- retary Albert del Rosario saying that Myanmars aid had reached about 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 Myanmars hosting of ASEAN in 2014 and it is thought that he seeked support for the hosting. A close ally with China, Myanmars navigation of that relationship will be crucial in the near future as a number of ASEAN members are at logger- heads with China over land disputes. According to some reports, the Philippines and Vietnam are expected to bring up their grievances with China during the ASEAN meetings next year. _._.:...~_.,.:. .~: ..~:..~..,.., ._ .,.._~.~~ e.. . . . . :..q:~ . _.. .. .. .e .. . .q .. ._ ._e. ._~:. .q._. .. ~ .. , .. , ._ e .. . .. ..q~~: .:..q:~ ._.. e.....~ Benigno Aquino III . .~..~: ....~..q.e_e.~.~~ .:..q,. ~,.e. q... _.... .~. ..q.~_. -~: ~..~..q: ~.q..:. ~ ._ . .. ... .. _~._~: . .q._. -~:~..~...:~_ .~~.,_e e.....:. .:.~:. _.,.:.. -~: ..~.. .:.q:~.q,. _., .:. .:..:.~.,_e ._ . e..... -~:..~. . :..q:~ .:. q, _e. ._~: . .q._. e....~.,_e e. ..~..q.~~~ _.,.: . .~ . .q. ~._ .~., ..~: .. , . ..: ._. e. ~.| _.,.:.- _._.._.:... .:.._~: ....~..q. ~._.~.,.: ...~:..,.: . _. _e. ._ . .. ~ .. , .. , ._ .,.,.._....|. ~~~ ,..|....._.. .:..:..:~.. .,._e.._ ee,.~.e,. . , ~ .. ....:.. ._ . .:..q:~.._~:.._. .q ._. 3 December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com Leadership in technology. The world is growing. Every day, more people, vehicles, homes and factories are driving an ever-increasing demand for energy. Thats why ExxonMobil is investing $1 billion annually in research and developmentpart of our commitment to developing the breakthrough technologies and solutions required to meet the worlds rapidly growing energy needs. Around the world, we deploy industry-leading technologiesfrom extended-reach drilling to advanced visualization and production techniquesto maximize the value of energy resources. So whether its investing in research and development, delivering innovative petroleum products or investing in communities, ExxonMobil is developing more than oil and gaswe are helping to support global growth and progress. Learn more about our work at exxonmobil.com December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 4 Myanmar Summary Farmers in a eId outside Yangon. SMEs make up more than 9U percent of Myanmar's totaI companies. R e u t e r s S mall and Medium Enter- prise (SME) Centres will open in Myanmars major cities to aid the development of the sector, which is seen as key to the economys growth. nILIuIIy, LIe hrsL cenLres wIII open in the capital city of Nay Pyi Taw, with further openings expected in early 2014. SMEs do not only play a key role in the states progress, but SME Centres to Open to Aid Growth Kyaw Min and Htet Aung than also support local em- ployment, said U Win Aung, chairman of Federation of Chambers of Commerce and I n- dustry (UMFCCI ). Therefore, the growth of SMEs is vital, he said, before adding that a key role for the government is to establish an SME law. SMEs make up more than 90 percent of registered companies within Myanmar, and local businesspeople involved in the sector are urging the govern- ment to encourage their growth. For the development of our countrys economy, allowing SMEs Lo ourIsI In LIe Iong term is vital, said U Mya Theik an entrepreneur with an SME- cIussIhed compuny. SMEs wIo employ fewer than 25 people should be allowed tax exemp- tion, he added. The SME law is expected to be implemented in early 2014, sources say. ~... .:.. ~.~ .:.. .. :..q. . . , ..:. e _e .~ .~~ .q. ~.:~ ~~_...q, ~....:.. ~.~.:. e _e.~ .~~.q.. ~:~ _., .:~. ...q _._~..:.~ ~..e.. .:..__e.._~:. .q._. e .. ~ .. q, ~~ ~ .~ ._~ ._~. .q.. ......q...._:,~ ....|. ..:q~.:..__e._.. .,_._.~: .~:.~...._~. _._,e_..:. . .,.:.~ ~..e...:.._ _e.._~:. .q._. ~....:.. ~.~ .:.e _e .~ .~~ .q._:,. ~:~, q . ~. .~ ~ ~:. ~..e._..~ ~~, ...,....: .~ . :.|..~ q~ ~:.q . . ., ..|. ..:~_e..:.:.|''e ._.:._. e.~. . ...|..~_..~:._e ~....:.. ~.~.:...,..~. ~_.. ,_.._:~~~_qe_.. .:.~ ..:q~.:..__e.._~:. . q._ .~ , ._ .~ . . . , .q ~. . ~_ .~..~:~ ~....:.. ~.~ .:.. . , ..~ ~~ ._._ . .. :. .q.~ .~~ . ~~ ~ ~. ~~., .~_ .: .|~.,~~_. _._~.~.. ~~qq.q.~~~._. ~.q..|~ .,q:. : .|~.,~~~~ SME ..,..~ e_e.~.~~e ~.q._~. ~e. SME ...~._. ~._._ ~.~~e ~.q._~....~..~.,, ..:.. : _._:,....e .~..|~e'' e ._.:._. 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 years programme of- fered 99 grants to students from Yangon, Mawlamyine and Kyike Mayaw, but that number has doubled in 2013, in what is SCGs centenary year. I n 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 SCG Provides Education Assistance to Students 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 SCGs ASEAN sustainable de- velopment initiative and it has granted scholarships to more than 5,000 students in ASEAN countries, including Myanmar, I ndonesia, Thailand, Vietnam, Philippines, and Laos. Myanmar Summary Siam Cement Group (SCG) ._ .,.._~.~~ .,_._,e q ..,.~:..:...|. ~~~ ~:. ._:. _~:.. . q: ~.:~ ~. .:.~ ...~. . _.. SCG Sharing the Dream Programme ~.~.- ~..~~...~_e. ~.:~~. .:. ...._.._e.._~:. .q._. ._:..:~.._~......~... ~,:.~:. Strand Mawlamyine e~e~ _...~..._.. .., .~: ..:..:.~.,_ e ~. .. _., .:~.. ~~~~~ ~ qq. :. .__e._.. .~:..q~. ~_.:. ~.:~ ~. .:.~~ ~ _e. ._~: . SCG . ._.:_~:..._. ~,:~ ~ ~ e ~ ~q:..~: .. , _.. -e.~_~e~..: ...~.. .:.~_e. _e. ~_ .:.q.~~ ~ ._: .q..: .,.:~.q..|._~:. SCG Myanmar . ~_~.~~_e.. Chana Poomee ~ ._.:_~:..._. . , . ._ . . - ~. ~. ~ q, ~ , ..:._. ~~..q:~. .., .~: ..:..:.~~ ~ ._:. . ._~. .:.~._. ...~.._.. ~~, ... ~ ._:..._~.~.q~~~.: .... ...:..:.._~:. .q._. LOCAL BIZ 5 December 12-18, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com A worker outside the Wunna Teikdi Stadium in Nay Pyi Taw. R e u t e r s Myanmar Ready to Host SEA Games Oliver Slow M yanmar is 100 percent ready to host the Southeast Asian Games, wIIcI omcIuIIy goL under- way in the capital Nay Pyi Taw on December 11. Htay Aung, sports min- istry director, told AFP LIuL LIe hnuI reIeursuIs 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 countrys history. The tournament, which brings together athletes from Southeast Asias 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. I t 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 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 in Nay Pyi Taw, while for- mer capital Yangon will host some events such as Chess and Weightlifting, and Sailing events will take place in Ngwe Saung. 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 sportsim- proving the reputation of the country and making history to be regarded as sporting heroes. Despite the overall opti- mism, some government omcIuIs ure prIvuLeIy concerned about the countrys 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- menL omcIuI wIo usked not to be named. Hotel rooms cannot be enough because many foreigners and visitors will come, he told AFP. Myanmars hosting of the Games has already come under some hre 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. I t 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, J ade Royal, Aye Chan Thar, Pearl Thiri, Excel Capital, Mahn Myanmar, Mingalar Thiri, New Ayar and J ade City. _., .:.~.,_e e.~.| ~.q .~: ~:q ~:. ~.:.. .~: ~:. -_ . ~ ..q, ~~ ~ ~~~ q:. . , .~_._ ~. . _e..,_._e.._~:. .q._. .,:~..~.....~..:. ~.,_e .~: _. . : _.. . . . ._~: . .. ~. .q~ . .. . .~ .~:~~ ....|. ~ ,..|. _~:_. . _. . ~._.. ~..:~ ~~ ..~ ~:.,_..,.....: _., .:. ~.,_e e _e .~ .~~ . .. .._~: ...'. .q:~ q .: . ~: e. ~.| . . . ._. . _~ . ~:. ~ .._.. . q, ~. . _e..,_._e.._~:. ~:.~.:. ~, _~ ._:, .|, ~ ~: .._..~: ~ AFP . ._.:_~:..._. . . . . ~:. ~.:. _. . ~ ~.q .~: ~:q ~e ~ . .:. . ~:.~.:...:..:. .q:~q .:._ _e. _. . .~ q ~. .q-. .. :. .q.. . .q._._. ._.: .. . .:.~ _.. . ~: e _e .~ .~~ . q.~,.,..: _.,.:.~:. .~ ~ . ..:. ..q, _~ ... . .~ .:.._~: . . . .~:.~.:. . .~: ~:. _., .:. ~ ~ .. _.. . . ~ qq . _. .. _e. ._ . e _e .~ .~~ . . .~ ~:.,_ . . q..:_., .:. ~.,_e ~._. . ~..:~~~ ~_~._. . ~. .~ .:.. :~ q . .,q _. . _., .:. ~:. . ~ ~ .:.., ..: q..._.....:.~ . ..: . q, ~~ ~ ._ . ~._.. ~..:~ ~~ . ~. .~ .:.~ _e_ ._ .q, _~ ... ...: q ~ .,._. . . . .~:.~.:.. .~: ~:. .~: _. . :~ ... .q.~~ ~ ~. .q~.,_e ~._.. ~..:~ ~~ ~_~ q .. ._. . . q, ~~~ ~,.~:.~ _e.... ._ .e . ~.. .~,:.~ ~ .. . ._ . ..| . ,~~~~ ~ q ._ ~~ . . ~:.~.:.~ ._~ . ~._. .,_._.~:_ ..:~ ...._..._..~:-._.: _~:..~~q ~:.~.:...:. ..|. '~~~ . :,e.. ..|. ,~~~ ~._ ~:.~.:. _..~ .|~.__e._.. _._ ~.. ~:......:.. :~._ . .~ _. q._ _e. ._~: . ~. ~ ~:. ~.:. ~. ~. .:. ~:. .,_._.~:~ _...~.. . :.._ _e. .. q, ~ , . ..: . .. ..._. .:.~ ._ . _.. . ~ ... :.._e .q._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 6 Myanmar Summary Protestors on Bangkok's streets on Becember 2. Will Thai Protests Impact Myanmar Tourism? Regional observers say yes, but skepticism within country T he anti-government protests that took place in Bangkok and other 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 Thaksins sister Yingluck who many believe acts as a puppet for her brother - and, while the proposal has now been rejecLed due Lo herce opposition, protestors took to the streets calling on Yingluck to stand down. After heated protests, at the time of publication quiet had largely been restored to the capital, in part due to the Kings 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 Ioss oI conhdence In TIuIIund, said TTR Weekly. However, travel observ- ers within Myanmar remain skeptical as to what impact Oliver Slow R e u t e r s the protests could have on the countrys tourism market. Myanmar is too much of a niche destination at this stage to appeal to the throngs that head to Thailand frankly, many of the beach-and-beer crowd wont even know where Myanmar is, said Marcus Al- lender, founder of travel website Go-Myanmar.com. He added that the most recent protests to hit Thailand in 2010 led to an upsurge in tourist bookings in Bali, I ndonesia. While skeptical about the short-term impact Thailands situation can have, Allender did suy LIuL Myunmur muy benehL from long-term instability in the neighbouring country. The whole issue between the rural poor and urban elite in Thailand has rumbled on for years. I f the problems continue for a long time, or there was an- other coup, then over the years you could potentially see Myan- mur benehLLIng, Ie udded. Thet Zin, founder of Living I rrawaddy Travel Service, also expressed reservations on the long-term impact of the Thai- land situation on Myanmars tourism, adding that it could have a negative impact on tour- ists to Myanmar getting visas. Myanmar doesnt position itself as a cheap country to visit [like Thailand], so we do not think that Thailands is- sue will have a big impact on Myanmar. I n fact, we are quite disappointed that this whole 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 .. , .~:~ _. . ~_.:._. .:.~ ~..q.,~.q..._...:. _e.. :..,_..._~: ~~, ..._ ~.:._.q..:..:.~.,_e _.,.: . . . . .:.q:~ . ._~: . .q.. :. . . , .. .. q: ..: _~_ .. .:. .:.~ ._.:_~:._~._. ~.q.~: ~:q ~ , . e . .~ ..: _e.._ TTR Weekly . .e:_. .~~q _.,.:.. -e~,.. ~~.,_e ..~ .~q_e.. :. .,..: . .q..~_ ._ . . .:.._~: ~. :. _ .q .. :..:. . . .:.q:~ . ._ ..:.~_e. ~~...:.q._ _e._.. ~_~..e~..:.~ ._~:~q December,whereby citizens of Thailand and Myanmar could visit their neighbouring country visa-free. _~..: .q.. :..:.~.,_e .. ~.:. _.,.:.. -e~,..~ ~...:.. . :..q:~.._~:. .q._. .,.._ ...:...~ .. -_..~: ,.~:~_.~ .._.. .:. _e...'._.. ~~.~_..:...:. .~._ _e...'.,.._. .._.. .:.~.,_e e.~,_~... .~. ~:. .~.. _.,.:.._ .~ _ . ... ..:. . _~. .. .~ .~ _ ., ~ _.. _~_. ._e. ._~: . . q ._. ~..| ._~..~:. .~q~..q. .~....:._.._e._.. ~,_~... .e:. .~.- _._e.. q.~ q ,:~. ~ ...: _ ..: q ~ . _. . _e.._~:. .q._. ~..|._~..~:. _.._..,, .~e,.,~._~_.. q.~q,: ~. ~:. q: .. . ~ ~ ...q, ~~ ~ .. _.. .:.~ _.. . . ._~: . . q._ . ~, _~... q .~ q ,:~. ~:. q: .. eeq:.. ._....... .~.~_ .. _.. .:.~ _.. . . :.._ _e. ._~: . ._. .. _.. .:.~ ._.:_~:._~._ . .q .. :..:.q.. . , .. .. ~_~.~~ .:.~ .~q ..q..~_._._e.. .:.~..' ..q...:..:q.,_.. .,:~ . q~ .~ .~ ~ .~ .~ _e. . :. . ._ . . ~ , . e . . q: e~ . . . . .:.._ . _e. ..'.:. .. .. ~..' e_~_..:.._. ..,.q. ._~:. TTR Weekly . ._.:_~:. .._. _., .:. ~.,_e .. ~ .~q_e..:..,..: ..q..~_ ._._e..:...:.._~: ~.:._.q. .:..:. ...q:~q.:.._~., ~:.~q.,..:._. ~.~~. ~e,~~:..:..: _.,.:.~~~ q.,...._~:. .q._.~~~ ... ~ ._ . .. _ .. _.. .:. _e. ..' ._.. .q.. :..:.~.,_e ~.,.q:. . . . . :..q:~ . _~._~:. . q._ . 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. I n 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. I n a World Bank study, which looked at the study of logistics in countrys 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. I n 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. I t 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 I ndia as neighbours. More than 70 percent of My- anmars population is employed in the agricultural sector and the rice industry contributed 13 percent to gross domestic product in 2011. From page ...(Rice Lxport) From page ...(Rice Lxport) .,~.._ .~.._e...: _.,.:.._ ~.... .,.~ q.~,., ~. ..e~ ~. .q._. ~ ...~ .,~...: ~.... .~q.~,. , ~~~~ .: ~ . . q._~: . ~..q ~, . - .~...q._:, (US Department of Agriculture) . ~.~~.~.:. ~q .q._. .,.._..~ .,.~q.~, . , '~~~~ ~ . . q_. . ~. : . ._ .:~ . ~, . ., ~ . ._ . ~_e. q. ~_ .:. . ._ ._., .:. ~.,_e ~ . , .. .. .:._e. ._ ... -e~,..~~:. ., ~ . . ~ e _. . q, ~~ ~ _ ~ ... .. :.q .._ _e. ._~: .._ . . q._ . ..~.,_e ~.... ., .~ q. ~, . , . . e . - e~ ,. ..: ~.... .,.~q.~, ., . ..e~....~.._~:. . q._ . . . .~ .~ ._:,. .~ . ..._., .. ~ . .. :..q.. ~ .., . .q: .~e .q.~, _~._:, ~ , .e. e _e . ~ .~~ .q.~. .q_:,. , _~:..q.. . .._e.. .~..~:_.~ ~..q ~.,_e ~~,~~ _:.q... ~ .,.~q.~,., . ..e ~ . .:. q, ~~~ . . :._. . ~~~~ _:.q...~ ., .~q.~,., ,. ..e~ ....~._ ~..:.q, ~.~. q._~:. ._.:_~:..._. 7 December 12-18, 2013 Myanmar Summary LOCAL BIZ Myanmar Business Today www.mmbiztoday.com Myanmar is planning to improve the quality of its rubber in order to increase the income from exports. Plans to Upgrade Rubber Quality for Export T he production of rubber lacks quality control in Myanmar at present, mukIng IL dImcuIL Lo obLuIn LIe higher prices in the world mar- ket, according to sources from the Myanmar Rubber Planters Phyu Thit Lwin F ile s and Producers Association (MRPPA). Since the high quality rubber cannot currently be produced within Myanmar, the price it is sold for when exported abroad 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 Is sumcIenL Lo produce LIe high-quality rubber, many local entrepreneurs are not trained sumcIenLIy Lo brIng LIe rubber 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, I ndia, Malaysia and Singapore. I n the zo1z-zo1 hscuI yeur, qo,ooo tonnes were exported, bringing in $260 million, and MRPPA aims to increase the export to 950,000 for 2013-2014. Vietnam Group Eyes Kyaiktyo Cable Car A Vietnamese company has expressed interest in investing in a cable car project at Mount Kyai- ktyo, the site of one of Myanmars most famous sites, the Golden Rock in Mon State, source say. Oman I nvestment Fund has already held meetings with members of the government including members of LIe Mon GovernmenL, Myunmur NuLIonuI Ruce AuIr MInIsLer U TIeL WIn, hnunce mInIsLer Dr KIIn Muung Twin and Electric and I ndustry 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 I nvestment Fund. He added that the Mon State government had informed the company that if they wished to make an invest- menL, LIey musL hrsL muke u survey und cosL pIun Ior the project. Located just a few hours from Yangon, the Golden Rock is one of Myanmars most popular tourist destina- tions, particularly for domestic Buddhist tourists. Kyaw Min Myanmar Summary _._ ~ ..q: : ~ . . . . : ~q_ ~... , ... . , . ~.~ q _. .._~: ~q_~..._. .q::~.~ ....:._.:..:..: ~.:.q:: ...~~~~. .....qq.._e _., .:. .q: :. ~ . . ~ . . . .:. ~... .q._. ~q_~....~:..~:..~ ..~: ...~~~ ~..q...e .... . . q~:.|._._ ~ . ~ .q: : ~ ~.:.q::...~~,eq ~. ~,~ ,~~ ,~~ ~_~:. ...... .,q~e..|... _...~..~~.: q ~q_ ~.. ..~: .~ .q: : ~ q:. . , ...:~ ~ .~~ ~ .: ..|_..~q~,.~. ~ q:..,. ..:~~ .,.~~~..:._.. .q ~ .q: :.~ _e. .,~e ''e _., .: . .q: :. ~ .. ~ . . . .:.~. . ~~..q... .._.~ ._.:._. .:.,,_.._:.:._e.: ~q_ ~..._..q::.:. ~...q, ..~..:q~...:._. _._ ~...,.q.:.~.,_e .,.~~ ..~..:q~. ~:.,_..,... ._ e , .~ .~ .~ ._.:. ._ . _.,.:..q::.~..~.. ..:.~..~.,_e RSS 1 ~. ~,. ~, ..'.: ,~~ . ,~~ RSS 3 . MSR 20 ~.~,. ~~ ,~~ RSS 5 . MSR 50 ~. ~, . ~, ..'.: ~~~ ~~ Crepe Rubber ~. ~,. ..'.: ~~~ ~~~ ... .:.. ~.._..._~:. ~._. :.._. . , _._ ,e ~ ~ _. ,e q .. .~ ~ ~ ., ...~ .~: .~:._. . q _. .~: ..'. CableCar._... .q...,.~-e~,. ~ . ~ ~ . .~.._~:. .q._. e.~. Cable Car ._....q,~~~-e~,... Oman Investment Fund ~e~ .,_._,e~..q~e,. -_.,.._ e..q~ ..~~. .,_ ._,e~..q~e~-.:~ .q ..:..q. q:~, _~ . ..~ ~ ._:.q.~, _~ . ..|~ ~:. ..: . .. .. . .~ . .~ . ~, _~. .. .~ .~:~. .:.q:~.~.._~:. .q._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 8 From page ...(Lawei) 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 UNI CEF, 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. I t 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 UNI CEF. Released in November, the reports take an interesting look at how income from natural resource projects could benehL cIIIdren In LIe resource- 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 cronIes creum o weuILI Lo IIne 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. As income from natural resources grows, theres 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 countrys spend- ing on education, health and social welfare is still measly. or LIe hscuI yeur zo1z-zo1, 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 UNI CEF. Almost all vaccines are currently purchased with donor funds. Social spending has seen in- creases in recent budgets but its 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 countrys under-5 and infant mortality rates are the highest among ASEAN (the Association of SouthEast Asian Nations) member countries, and many of these deaths are preventable, it added. Around 56,000 children under hve dIe In Myunmur eucI 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 UNI CEF says data isnt always reliable but theres no reason 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. R e u t e r s why every single child couldnt be vaccinated, considering the amount of money Myanmar is earning and could earn from natural resource projects. Children are the most precious resources of the country. They must be the hrsL benehcIury oI LIe ongoIng reforms, said Bertrand Bain- vel, UNI CEFs representative in Myanmar, in a report. Reuters Myanmar Summary world can do this project as the sole developer. We need to de- termine how much the I talian- Thai company has invested in this project by a due diligence assessment, he said. I nternational 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, I TD has said it invested around $189 million in Dawei and expected a full reimbursement of those costs, plus interest. TIe uudILIng hrms wIII ussess how much I TD spent on this SEZ, said Set Aung. Due to the cease of operations 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 hnuncIuI und envIronmenLuI issues since plans were an- nounced. The Myanmar government has attempted to convince the J apanese gov- ernment to play a role in the project, although it is thought that J apan 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. From page ...(Lawei) e,.~e ~.... e.:. .~. . ._~:.... ~ ~ _., . ..: .. ~. . .~q ~~, ...~ _.,.:.q ~...e .:.~:. ~:~ e ... .q, ~~~ ..~,.~.....- ~.. ~. q:..,..: ~,~.:.eeq ._~:. .q._. ~...e.:.~:. ~:~e.... ...q,~~~ ~:~ e.....:~ '.' . . e ~~ ~ ~..q~, ..'.: ~~., ..e.: ~,~.:..__e._.. ~..|~,~.q~~:. .q..~,.. .~:~~..~,..:.- ~..q~.. ~. ._.. :.. ._~: . e , .~ e . ._.:_~:.. ._ . .. ~. ..:.~ . ~ :.~ ~ _., . _. . e ... ~. ..:.._ .:~.e ~:~. . ~ , ..:.. qq ._ ~ . ~ e_e. ~.~~..,:~~.,..: _.,.:. q ~....e.:.~:. ._.~~. q._.._~.~~:. ~..~.: ....:.._~:. .q._. . .. . .:.. .. .:. .:.~ _., .: . -.q, . .:~.:~ . .~:~ .~q~,:. ..~.q._ .:~ .e ~:~.:.~:. . . ., . . . .~ .~ _ .~e, . ... . .:. _.. . . ._ . ~e . ~ ~, . ..: .:~ .e ~:~.:.~:. . ..| ...: .:. ~.,_ e .~: .. , . : . . ., . ~: _._..:.~~~ ~~...:..:q.. q, ~~~ ~. ._ . . :. q._ _ e. _. . ~ ._._ ~:. . .q . . ..|.. ~._.~., .._. .~.q,~~~ _~.... .:.q.__e.._. Workers at an industrial site in Dawei region. K h e t t iy a
J it t a p o n g / R e u t e r s :.~e..~,..: ~.,_~..:._.. .q,~ . . ~. .~. . . ~._.. ~..:~ ~~ ~ ~ ._ . .e: ..: . :.q._ _e. ._~~~ ~_.__._.q:~.~ .:.~._. .|~..:q~q,~~~ ~.|..'..:..__e._.. ITD .| ~.|~~ _e. ._~: . ..~._. ~ ...:. ._.:_~:..._. ITD ~.,_e . . ~ , .~ .~ .~ _ .|~.._~:.. ~_.:.~_._ _._.q:..,._~..:.. e_. . :.q._ _e. ._~: .._. , .~ ._.: _~:.. ._ .:.~e ~ , -~ __e. ..: ..~.~:~ .~:.~~.,_e ITD . ..:q~._....: ..,. ~.q..:.~ _.,._..... _... .,._~:.. ~.~.:.~:. ... ...q,~~~ ~.|..'..:.eeq ._~:.._. ._.:_~:..._. ..~...:.~q ITD ._:.~e . . ~ , .~ ~..q ~, ..'.: ~ ..e q..._...._.. ~..| ~ , ~ .q ~ . :.~:. ~_ ._ ~~_ ., ._ qq q, . ~~ .~ .| qq q, ..: . , .:. ._~:. .q._. 9 December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com LOCAL BIZ 10 Myanmar Summary The Oyu Tolgoi mine, located in the Gobi Desert, is one of the largest copper projects under development. W M The Surprising Potential of Myanmar-Mongolia Relations Brandon Miliate I n November, Mongolian President Tsakhiagiin Elbe- gdorj mude un omcIuI LrIp to Myanmar as part of his tour of Southeast Asia. This was the hrsL LrIp by u MongoIIun Ieud of state to Myanmar since dip- lomatic relations were estab- lished in 1956. While in Yangon and Nay Pyi Taw, Elbegdorj met with Myanmars 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- LIons Iuve sIgnIhcunL poLenLIuI. 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 management and foreign uuIrs. Mongolia is widely recognized as a post-communist success story, having pursued economic and political opening simultane- ously, surviving the transitions intact, stable and distinctly democratic. Today, Myanmar continues to pursue political liberalisation, and has been able to quickly reap the international benehLs oI LIIs IIsLorIc poIILIcuI transition, including sanctions relief and increased economic and diplomatic ties with the US and Europe. I n this regard, Myanmar may be able to learn from Mongolian successes and pitfalls in how to manage politi- cal opening and economic lib- eralisation. I n fact, Thein Sein congratulated Mongolia on its successful democratisation and presidency of the Community of Democracies in 2012-2013. Likewise, Elbegdorj noted Myanmars unprecedented ef- forts at democratisation, and extended his countrys support In LIe heIds oI democruLIsuLIon, rule of law and human rights. Mongolia and Myanmar are leading emerging markets for natural resources. Mongolias Oyu Tolgoi mine is one of the largest copper deposits current- ly under development, while Myanmars largely untapped 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- Lors` Inuence In LIe economy and both have had to respond to public demands for trans- parency and environmental protections. The potential for Mongolia and Myanmar to not only learn from each other in the heId oI resource munugemenL, 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 BRI CS nations, keen to balance resource investment against political and societal concerns. Mongolia and Myanmar al- ready share important foreign policy and security concerns. 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 I ndia and China but also a number of smaller states Thailand, Bangladesh, and Laos that give it more options than Mongolia has in this regard. Both Mongolia and Myanmar wIII Iuve Lo buIunce LIe Inu- 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 dIerences beLween LIese Lwo countries that could ultimately limit cooperation. Dr J ulian Dierkes has produced a handy table comparing Mongolia and Myanmar on a number of meas- ures, which highlights their sImIIurILIes, buL uIso sIgnIhcunL dIerences. MongoIIu Ius no 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, Mongolias 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 potential cooperation. TIere ure ImporLunL dIer- ences between these two coun- tries, but there are also many potential venues for increased cooperation and mutual policy learning and coordination. WIeLIer IL wIII be LIeIr dIer- ences, the space between them, or LIe sImIIurILIes LIuL dehne Mongolian-Myanmar relations ultimately remains to be seen, but recent developments sug- gest cause for optimism. The Diplomat .~:.~ .,..e:.. ..~ Tsakhiagiin Elbegdorj ._ ~.q .~:~:q.q..- ~..~~... ~_e. _., .:. . ~q:.~ .:.q:~ ._ .~ . _.. . . ._. e. ~ . . , . .e:... ~.:.q:~.._ ~' ...~~_.~ _.,.:.. ., . . e:. . ~ ~_ ~:. . ~., .~..q.~ .~_..._... ,.._ .. .. .~_~ . ~_e. . , ..e:. ..~:~_~.~~. _., .:.. .q:~q.:_.._e.._. q, ~ , . .,_._ .~: . . , ..e:. .. ~ .q:~ q .:. _.. _., .:. .~: .. ~ .. , .. , . .~ . ~: ....| . ....:.q.~.q..:.~ ....... _~._ . _. 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LOCAL BIZ 11 December 12-18, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com BBC to Open Myanmar Bureau Oliver Slow B anned during the countrys military rule, British Broad- casting Corporation (BBC), one of the worlds most recognised media companies, will open a bureau in the country next year. I t was announced last week that the Ministry of I nformation 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, BBCs director of global news on his blog. The BBC was an un- IncIIng crILIc oI LIe military junta that ruled the country until 2011, but the decision to allow LIem Lo re-open om cIuI operations within the country is the latest in a raft of changes to the countrys media landscape. I n August 2012, a long- standing pre-censorship board was disbanded and formerly exiled media outlets including Demo- cratic Voice of Burma and The I rrawaddy have returned to the country to begin operations. HR Development Key for 2015 AEC: Adviser 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. I n 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. I f we have enough money, then the technological need Is sImpIe Lo hII, suId U In Htoo, an entrepreneur. I n 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 Htet Aung 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. _.,.:.~.,_e ~~ ... ~:.e... :..q.~.~~_. 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Myanmar Summary ..~..q.~~~ .~ . ~:._.. :.. ..: ~. :. ~.:.. .~. ~. ~ _.:.._ ..e:~.~.:.. ~.._e. ._ British Broadcasting Corporation (BBC) ._ .: ._..~ _.,.:._ ..e: _:,~ e... :..~:.__e. ._~:. .q._. _., _~:..q.~, _~ ._:,. ~. .|~ . ~ ~:. _ ., .:. ~ ..,..:. _.,._..:q~ . q, ~~ ~ . _..~.... ._~:. .q._. ~. :~. ~, .~ . .~ . _:,..|..:.. :q.,._~:.. ~.. : ..,...~..: q~q,~~~ .~...:~., ~:.~q.,._~:. . .~._:,-.|,~~: Peter Horrocks ~ ._.:_~:..._ . Coca-Cola is just one of many international companies moving into Myanmar. R e u t e r s December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com FEATURE 12 Contd. P ...(Automotive) Automotive: A New Booming Sector in Myanmar? Pongsak Kiatpathomchai M yanmar is the second largest country in Southeast Asia after I ndonesia 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 sIgnIhcunL cIunge In Myunmur cume uILer LIe hrsL NuLIonuI election in 2010. Relaxi ng r egulati ons 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 J uly, 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 J apan. Gr owth segments According to the data released by the RTAD, around 85 percent of total vehicles are motorcycles which mainly are J apanese 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 dIrecL benehLs Irom LIe reIuxIng import regulation are expected to have 15 percent growth per annum in the coming years compared to only 4-5 percent growth before 2012, as analysed by Solidiance, an Asia-focused munugemenL consuILuncy hrm. 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- proximately 8,500 units were produced during 2008-12 by J Vs with the government and Cherry, Tata and I suzu. I n 2013, the automotive pro- duction industry has started to cIunge sIgnIhcunLIy sInce muny global players foreseeing higher demands of passenger cars have planned to build either show- rooms and/ or manufacturing sites in Myanmar of which the markets key players are the J apanese 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 I ndustrial Zone in Hlaing Thar- yar township. By the end of this year, there will also be a Toyota service centre in Mandalay. MILsubIsII opened ILs hrsL showroom by a consortium of four companies in May 2013: Mitsubishi Motors, Mitsubishi Corp, Yoma Strategic Holding and First Myanmar I nvestment. 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 sIow room In OcLober. TIe hrsL Ford show-room provides a full range of activities from sales and service to spare parts. General Motors has recently purLnered wILI PucIhc AIpIne Pte Ltd, an existing exclusive dealer of Chevrolet and Opel In SIngupore, und PucIhc-AA 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 of when it will operate. The most recent move is Volkswagen which opened its hrsL servIce cenLre In Yungon In October through a partnership although non-exclusive with Yoma Strategic Holdings. More carmakers from China, I ndia, and Korea are also eye- ing the Myanmar market. All investments from car makers will be developing the market 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 purLner cun dehne LIe success 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 educating the market about the importance of after sales ser- vices by coming to authorised service centres and/ or using genuine parts in the long term. As a result, marketing com- munication about maintenance costs can be seen when local car sales is reaching to a limit. Automoti ve lubr i cants gai n i nter ests 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 brands registered in the market. 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 (non-synthetic), but updating cars to newer car models would Contd. P ...(Automotive) 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. BareIy changed since the British coIoniaI era in the earIy 2Uth century, some of the decades-oId buses and trains are starting to be retired. 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. D a m ir
S a g o lj/ R e u t e r s Myanmar Summary ~.q .~: ~:q . ~. . _e. ._ _., .:. ._ ~ . , .q :.. _. .. ~.q .~: ~:q _ . ~ e~_~.. .. ~.._e.._. ...:._. _.,.: .._ ~.q.~:~:q...~ ~..q....:.. .~.. _e._.. ....|. ~ ,..|. ..~..q~. .. . .~ .~:~ ~ .q:~ q . q._ . ~~~ . . . ~ .q..~:~ . ~ _... ~ ... _. ..,:~ ~ .:_. .: ..: ~._.:.~..:.~ .~_..:. q._ .~:.~ . .. . q:. ~|.._ . . .._ .~. .~:. ..: ..... ~ _.. . ...._...,:~ ~:..:.~..q, .. ~. ._.. e ~ .:. ._ .~~~ . . . .~~:..._ ~.~ ._... ._.~.._~..:.~:. ..:..|eeq :. ...._.. ~:..e:..:. ..e. ~. ~. ~. q. ~ _.. . . ._ .. . ..|. ~ . ,~ .~ ~..q ..: ~:..e: . .:.~ . . e q, ~~ ~ ~:.~ . . . .|.. .:.~ ..:~ :.q, . _.... .._. ~~~ ... ....._ ~.~ ~ . . ~~ . .:..:.~.,_e , .- ~._..|~_e ~:.~...~... _ . . ~ . . .~~ ~ .:_ e. ._ ~: . .q._...,...~~~ ~:. ~ . .. ~:. ~~, ~.~ _ e .: qq..._.e.~.| _.,.:.~ FEATURE 13 December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com From page z...(Automotive) 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 Myanmars 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 LIe IncreusIngIy herce compeLI- tion on promotional campaigns such as free gifts and lucky druws. As LIe oered promo- tions are getting more prevalent to the eyes of customers, it is geLLIng more dIm cuIL Ior IubrI- cant companies particularly in u muss segmenL Lo dIerenLIuLe its brand positioning. Sti ll some ti me 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. Ponscl Kictpcthomchci is Cars at an auto showroom in Myanmar. R e u t e r s 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. the Senior Consultant at Solidi- ance, an Asia-focused growth strcte cnd z mcrletin consultcnc jrm uith sectorcl expertise centred on automo- tive/industrial application, technology, healthcare and green technology. From page z...(Automotive) . . , .. .~~ ~ ._ ._ ..: .~: ~:.~..~.:... ~... ~:. ~, .~ .~ .q .~: ._~: . . q ._. . ..: .~: e: ~ . .. . q: .~|..:. ._.:...._~: ..:.~: ~:..:. ..~...._.. ~.:.. ~:. ., . . ~ . ._. ._e. ._~: . ._. .q._.~,.......:.q. , _~:.. .. ._:,. ~ _., . ..: ~.~~.~.:.~q ..:.~:e: ....|.- q:..,.,..|.._ ., . . ~, ~ . ~ ..: .~: ~:..:._e.._~:. .q._. ..: .~: ~:.~ . .. . : ~. . . . q:..,.. ~~ q:..,.~.~~.,. q .,_. . .:._ ~,:~ ~ . . ~ .~~ .:. q, ._ . ..: . , . :. ._ . ..: .~: e: ~ . . . . ~| ..:. ..: .. -~ ~ , ~ ~~ ..~.~ .~_e. .q .._ ~ . . . , .. . ~:. .:.._ .:._...:.~~. ~. . . . ~ q:. . , . ~ .~~ .:._ e ..:.,.:.._. ~~ ... .~.~ , q:..,. . q:..,..: ~.~~.._~:. Solidiance . ......:.~q .q ._.~ .... ~~ ...~ .~~.._ _.,.:~..q. ~~. ~....|._ ~:.~...q ,~~ ~ ~ .. . ._ . .,:~ ~. . q. ._..~~:. e~....._.~~ .... ~~ ...~~. Cherry, Tata . Isuzu ~. ....|._ ..:.~:~:.~...q..|. .,.,.._. 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P y a y R o a d , 6 1 / 2 Mi l e s , Y a n g o n , My a n ma r | + 9 5 - 1 5 0 7 3 4 4 e x t . 1 5 9 | www. a r c h e t y p e - g r o u p . c o m INTEGRATED CONSTRUCTION SERVICES IN SOUTH EAST ASIA ~~ ,..|.~ ~...._. ~~, . . . ~ ..: .~: ~:.. . , . . :..:.: ._.:...:._..~.:..: .~:~:...,._~..:.~.,_e._ . _., .:. -..: .~: ~:. ~e . ~:. _..:..:.~.~_.._.. ..:.~: ~:. ~.q:._..,..:. ~.... . , ..:.~ . . ..: q, ~~ ~ . . ._~._._.,.:.- ~:....~~ ~ .,.~~:..:.~ ~.~ .,q:e :.._~:.._. .q._. Nissan ._ Tan Chong Motors . ~~.~. ...|._ _.,.:.~ ~_ ~ . . . ..: .~: ~:. ~. . .q. . . , ._~.~ .: q, _~..... ._ . ~..|..,...~:. ~~ ... ~ . . .~ ...._~ ._ e . . .: .:..__e._.. Nissan Sunny ~:. .:.~ ~ . . . :.._ _e. ._ .~. . ..:...|. ,~~ . ~.... ..:.~:~:.~...q..|. ~~~~~ ~ ~. . ~ . . . :.. . . ._ _e. ._~:. .q._. Toyota Tsusho Corp . _._~. ..,._e.._ Aye and Sons ~- ~~ .~ . ...| .. . , ._e. ..: TTAS ._ ._~:....~ ..:e:_.,e .q...~.~,~ ,...,.- .~e._.:~~,..:..~:~ e ...._.e...~,~ ....._. _._. ~e~:~,..:..~:~:. e...:..__e.._~:. .q._. Mitsubishi Motors , Mitsubishi Corp, YomaStrategic Holding . First Myanmar Investment ~ ..|...e._.:...: ... :..q. ~ ~:.. _~.. .. .. .~.q: ._.., . ~ e..._.. ...... .,_._.~: ~ _._ . ~, ..: . . ~:.:. ~ e . . . :.q, . . .,._~:. . q._ . ~_.:.~. : ..: .~: ~:.. . , ._~ . .:.~.,_e._. _.,.:...~~. ~.q:~.:.._.Ford Motor Co ._ RMA Group, Capital Diamond Star group ~.....|._ .~:~~ :.~ ~.q:._..,...~..~ e...._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com REGIONAL BIZ 14 Myanmar Summary In 'Teon Thuilund' Protests Test u Weuk Iconomy Martin Petty A s anti-government pro- tests roil Bangkok, the president of Thailands 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 Thailands 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 $66 bIIIIon economy, ure ug- ging amid weak global demand. The government had pinned its Iopes on oseLLIng LIose Iosses 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 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 yeurs oI on-o LurmoII LIuL has seen governments toppled, protesters shot, buildings and buses set ablaze, and airports and shopping malls seized by demonstrators. EucI LIme, TIuIIund's hnun- cial markets typically swoon and rebound. The bloodiest political vio- lence in a generation erupted in April and May 2010, but IoreIgn Inows neurIy doubIed 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. Anti-government protestors march through downtown Bangkok. R e u t e r s "Thailand will be an attractive destination for foreign inves- tors over the long term." There's a nickname for LIe pIenomenon: "Teon 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- government demonstrations. But Bajoria acknowledges there are some risks. "If there's an escalation or a snap election called, then it 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 ,.~:~~ ~..q.,~.q. .._...:. _e..:..,..:._~: . .- ~_~... .q,.:~~.~_~. ~.,_e._. ..,...:q~..:. q.,:.:.q._~:. .q._. e.~. ..q._..,:.:. _~ .~.,q..:._~: ~~..~~., _e .:._..~ ... :..q...,. .:.~:. .~.._~:. PTT Global Chemical Pcl . ~_ Bowon Vongsinudom ~ ._.:_~:. .._. ~.q.~:~:q- .~e...:..q. ~ ~:._~ .. _e. ._ .. ~., _e ..q..~.q:~..~~ .. ._~.q._.. e.~._.~.,~ . .. :..q.~._ .~.,~ . ~ .._. . e _e .~ .~~ . ~ ._ . ~.:.~ . ~ .:.._e ....q._..:.... .....:.~.,_e e...~ ~.. ._.. ..- ~..q ~,..'.: ,'' .e ~,e.q ._ ... :..q. ~~:.- '~ q:..,. .|~.,..: .~,~..~._.~.,. :._. ~.: ~e . ~:. ~:.,_..~ ._~: ~. . .q.,._~:. .q._. ~..q~.,_e ~..|~....:. ~ ~:. ..q, ~, ,~| q .. .~:~ ~ :.~ .q . . :. . . , . . :. .,q:. . , . ~ .~~ .:q, ..: . :._. ..q .. :.. . , .. :. . ..| . _._~.~~,~,e.~ q:. .,.~ .|~.,._~:. .q._. . ..:.,..~.:.q.,..: ._. e. ~. , ~.|~ . .q..~_._. _e..,._~~~e..~..~_. . :. .q..:..:.~.~..:.e~ ....._~: .~. ~' .e ~..q~,..'.: ,. ..e, ~ ..,.,.,:..:.q., ._~:. .q._. e.~. .._...:.._~: ~._.. ~..:~ ~~ . . ~ , ..:.. ~. . ... :..q.~ ~. q.e ~..q~,..'.: ' .e, ~ ...|~.:q,~ ..:..._~,_~:. .:.~ _e..:....._~:. .q._. ~._.. ~..:~ ~~ . . ~ , ..:.~., _e .~.~:_~: ..:..._~,_~:. .:. _e. ..'.,. ._ .e. ~ . . .q. .~_ ._ . _e. . .:.._~: ~._.. ~..:~ ~~ ~__ q .. ._. . . . .:. ~ ..:....... .q..:...,. .:.~ ._. . ~ ..._~: .. ~. .| ~_...... : .:._.. .. - ....|._._~.~~,~~~ ~.~~._~_ .._._e. ._~:. Credit Suisse . ... :..q. ._:q Santitarn Sathirathai ~ ..~.,.~~..~..~ .q..:. :.. ._. e.~_ q....: ..q.. ~..q~__..~~..'~ .,.: .~_.,._~:.._. .q._. Images of streets crammed with whistle-blowing demonstrators seek- ing to topple Prime Minister Yingluck Shinawatra jar with Amazing Thailand tourist advertisements. 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 32.10 to the dollar on Wednes- day and economists expect a further weakening as foreign cupILuI ouLows speed up. Foreign investors sold a net $1.5 billion in Thai shares this month. But these pressures were well in place before the protests took hold. Viboon Komadit, chief mar- keLIng omcer uL AmuLu Corpo- 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." Reuters REGIONAL BIZ 15 December 12-18, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com China Impor ted Gas Pr ice Hike May Boost Impor ts Chen Aizhu and Judy Hua 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 worlds 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- unLee sumcIenL sLock Ior Iome 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 Chinas shale gas resources. The average sales price for imported pipeline gas will be set at 1.11 yuan ($0.18) per cubic meLre eecLIve JuIy 1, uccordIng to a statement on the Ministry of Finance website. A Chinese worker walks past gas taps of the Kazakh stretch of the new 1,833-kilometre (1,139-miIe) Turkmenistan-China pipeIine at Utar gas station, some 13U kiIometres (82 miIes) outside Almaty. Myanmar Summary Banco do Brasil Looks to Asia for $1 Billion Loan, Sources Say Guillermo Parra-Bernal S tate-controlled Banco do Brasil SA, Latin Americas largest bank by assets, is in talks with a pool of lenders to raise at least $1 billion in a syndicated loan transac- tion, two sources with knowledge of the deal has said. Banco do Brasil is seek- ing to attract Asian inves- tors to the deal, said one of the sources, who declined Lo be IdenLIhed sInce the transaction is in the works. A second source said the loan would have two portions of three and four years, respectively. TIe hrsL source suId LIuL if market conditions turn out favorable, the amount raised could go "north of the $1 billion mark." None of the sources detailed the targeted cost of borrowing for both tranches. The second source added that the Asia-based units of JPMorgan Chase & Co, NP Paribas SA, HSBC Holdings Plc and Stand- ard Chartered Plc were umong LIe bunks oered a chance to participate in the deal. Banco do Brasil declined to comment on the loan plans. 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 Petrleo Brasileiro SA and mining giant Vale SA considering the sale of global bonds within weeks. Vale, Petrobras and Banco do Brasil could obtain fresh funds for investments and other corporate purposes ear- lier than usual to mitigate fundraising risk ahead of the presidential election in Brazil next October and the US Federal Reserve's expected tapering of years of monetary stimulus. Reuters S h a m il Z h u m a t o v / R e u t e r s The ministry did not provide a comparison, but based on a previous rate of 0.88 yuan per cubic metre set in July 2010, this would mark a 26-percent increase. It (the price increase) will help big gas importers like PetroChina mitigate their losses from selling Central Asia gas and LNG at below cost, Kwan said. or ImporLs oI IIquehed nuLu- ral gas (LNG), or super-chilled 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 Beijings move in June to raise gas prices for wholesale distributors sell- ing to non-residential users by 1 percenL, LIe hrsL IIke on u national scale in three years. Top oil and gas producer PetroChina said in August it expecLed LIe hrsL prIce IIke Lo narrow its losses from selling imported gas below cost and boosL ILs prohLubIIILy by zo bII- lion yuan ($3.27 billion) every year from 2014. PetroChina recorded a loss of 42 billion yuan last year for sell- Ing ImporLed gus uL urLIhcIuIIy low prices as mandated by the governmenL Lo Lume InuLIon. PetroChina imports LNG and also operates the coun- trys cross-country gas pipe- lines from Central Asia and Myanmar. China, the worlds fourth- largest gas user, is encouraging greater use of the lower-carbon fuel, with consumption set to triple by 2020. Reuters ~, ~ . ~.,_e .:~.:~ . . .~ , .... , ..:.~:. .~ q .... , . - ....~.. .._.~.._~:. .q._. ~, ~ . ~.,_e ..: .q:. ~ ..:.:.~..~ ._eq.q,~~~ _~ ... ..,_. . .:~.:~ . ~ . . .~ ..~:....q,~~~ e.~. .... , ..:. _. ~ .... _. ._e. ._~: . ~..~..:.~ ._.:_~:._~._. ~. : . ~, .. . .~ . .. . _e. ._ ~,~.~.,_e .~:. ~..: ..~:..._ .:~._.~.~:~. .:. _e...'._.. .~...,.~._. ~. ._.. q.. ~. . . , ..:.~ .:~..:~.....~ q...:. .q._~:. .q._. ~, ~ . ~.,_e _._ ~ .~~ ~ . . .~ . ~. . ~ _e_ ._ .q, ~~ ~ .:~.:~ . ~q. ~_ .. .:. ~ ._. . ~.~_.. ~...:.q, _~.....,._. ~, ~ . ~.,_e . . . ~ ..: .:~ . .. ~ ~ .~~ .:.. q, . ~, ~ .- shale gas ~q. ~_...:.~:. e _e .~ .~~ . .:.q .:q, ~~~ ....,._ ._.._.: ....:.~ ._ ~:.~:.~~ ..: q~ . :.. q,..: . , .:.._~: . . q._ . .,. :. . . ~, e . ~q .~ ~ ~..q ~-~_~ .. . ~_e...: .. Banco do Brasil SA ~._ ~,_ .. ..... ~..q ~, ..'.: ~ .e~ _.~ .q,~~~ q..._.....:. . .. ... .. .:._.. . .,._~: . .q._. Banco do Brasil ._ ~:q q..._.....:.~ .|~.:. q, ~~ ~ . ..: .,_. . .... ~.,_e . .. . . .... . ~. . . ~. .. .q ._ _ e. ._~: . ._. .q._. J PMorgan Chase & Co, NP Paribas SA , HSBC Holdings Plc . Standard Chartered Plc ~- ~:q ~._..~e,..:.~.,_e ~ .q:~....:.q,~~~ ~. ~.. .~. . ~ qq . :.e e q.,._.Banco do Brasil . ....~.~.. .~.~_ ~..~.q: _..~....~ ._....._~:. .q._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com REGIONAL BIZ 16 Myanmar Summary Contd. P zj...(\ork Lthic) Work Ethic, Comic Hero Make Koreans Hot Shots in Car Design Norihiko Shirouzu and Hyunjoo Jinwon I n todays 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 gentlemens Bentley, more top models curry LIe uIr und sIgnuLure of a group of designers from South Korea, which some have dubbed Asias 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 dIerenLIuLe. rom u gIobuI LuI- ent pool, South Koreans stand out. Designers, including Sangyup Lee, Jinwon Kim and Jay Jong- won KIm, ure guInIng Inuence 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 Hyundais rise and the nations 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- Ing hcLIonuI desIgner InspIred a lot of kids, including me, at the time, said Sangyup Lee, who is in charge of exterior design and advanced design at Bentleys main studio in Crewe, ]ohnny Yongjun Cho, 3U, from South Korea, works on a cIay design for a 2U23 Iamborghini during a Transportation Besign cIass at Art Center College of Design in Pasadena, California. L u c y
N ic h o ls o n / R e u t e r s in northwest England. Four years ago, Lee led a Korean-Russian-Brazilian team that redesigned the new Cama- ro for launch by GM in 2009. He later moved to Volkswagen and then to the German groups Bentley unit. Another member of the Camaro team was Steve Kim, a Korean native, who is a director at GMs design studio in Seoul. The two used to work in the basement of Lees house in a Detroit suburb, often late into the night tossing around Ideus und hIIIng up skeLcIpuds to conjure up the new Camaro. "Koreon mopo" At GM, the Detroit automaker that bought failed Daewoo Motors in 2002, close to three dozen Koreans are among several hundred professionals working at the main US studio in Warren, Michigan and are dubbed LIe Koreun muhu or K-team. Tim Lee, GMs 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- Lomuker Ius Lo oer more curs Ior LIe cusLomer uL uordubIe 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 years Frankfurt auto show. Koreans are extremely good designers, well trained and 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 theyre 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, Contd. P zj...(\ork Lthic) e.,~:...,.~ .,.~ ~:..:.~.,_e ~q_ ~....~: .. , _.. ~:q_..._ ~.~.:.q.,_.. ~:..~..:._. ..:.~:~:.~ee . . .:.~~ ~ . ..: . q .,q, .~._.. ~.q..|..: ~.~~.. ~. . ~_e. q .:_._e. ._~:. . q._ . ..: .~: ~:.. . , ._~ ..:.~.,_e ~q_ ~.. .. ,_ .._:~ . . . , . ~...~.. ~:_.:.. ...q.~: ._ ~~ ~ ..: .~:~:....~ ~ ~ ...~~~:..:..:. q.:q,. e _..... .._..:..:q, ..:.~: ~:.~....:.~.,_e .~... ~ ~:, . ~ .:_~_.. ~ _.:._.:.,:.. ~ .~._e .e:..:q,~~~ _~.... .:_~._. Sangyup Lee , J inwon Kim . J ay J ongwon Kim ~.| ~~ .~,:.:.._ ~..q~,. ~.e~~ ......:_.. Toyota Motor ~_. Hyundai Motor . Kia Motors ~.q._ ..:.~:~:. ..,._~.~~._. .~,:.:.~ .,.:~.q..|.:._~:.._. .q ._. ~ q .e:.. ~.,_e ~_. . . ~. ~q:.~..' ~:, . ~ .:_. . ~. ~.. q: .:q . . , .~ ._ . ~q.e:.~.,_e ,:.__~..,..: . ~. . _e. ._ .~ - ~. ~. .:. ~ ._. . ._-: e , .~:. ~:.. ~ ,: .e~..~_e. ,~~.._.. ~... e.:.. ..~e. ...:.. ._~:. Bentley . .~,:_e.._ Sangyup Lee ~ ._.:_~:..._. .... . _~:..:~.| Lee ...: ..: ~q.e:.,q:.q:~. .~. ~..._ Camaro ~..~:. _., ._ _._. . _.. . . ._ . .,:~ Volkswagen . ._.:..q.~: :.,- Bentley e ,.. ._.:..q . ._ .~ q.e:.. .:..:.. : ~. , .~: ..: . ~ ,:.:._e. _~_. . .~: . REGIONAL BIZ 17 December 12-18, 2013 Contd. P z6...(Macau's ]unket) Myanmar Business Today www.mmbiztoday.com A gambling table at a casino in Macau. R e u t e r s Macaus Junket Operators Prowl SE Asia to Expand VIP Business Farah Master O n LIe second oor oI Solaires plush ocean- front casino in Manila, the dealers speak Mandarin, the players are Chinese and rev- enue from high-roller gamblers is rising rapidly. "I t's almost not in the Philip- pines. I t'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 Asias 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. I t's the biggest expan- sion phase ever right now," said Ben Lee, Asia gaming consultant at Macau-based con- sultancy I GamiX. OsIore expunsIon Is 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 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 VI Ps 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, J imei 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 December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com INTERNATIONAL BIZ 18 Myanmar Summary Shoppers walk past a Barneys store in New York. Holiday Weekend Sales Dip on Discounts, E-Commerce Jumps Phil Wahba H eavy discounting took a toll on US retail sales during the Thanksgiv- 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 u more dImcuIL seuson Ior muny 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 In-sLore und onIIne oerIngs, looking to entice today's very budget-conscious and value- focused shopper," said NRF Chief Executive Matthew Shay. The NRF said 141million 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 $59.1billion over the same weekend in 2012. The big deals will also dent prohL murgIns, unuIysLs suId. "Sales will go up, but gross margins are going to be down. Doorbusters were what people were shopping for, more than LIe reguIur-prIced sLu," suId Ron Friedman, retail practice Ieuder uL LIe consuILIng hrm 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 prohL Ior reLuIIers. But many have given modest forecasts for the quarter. Wal- Mart Stores I nc said it expects no growth in its US comparable sales, and Macy's I nc didn't 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 Christmas compared with 2012 - prompted retailers to begin oerIng burguIns on Monduy, earlier than usual, something Shay said likely pulled some suIes Iorwurd Lo LIe hrsL purL oI 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- tween the timing of doorbusters und LIe rIse In sIopper Lrumc uL 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 I nc, an analytics hrm, suId US onIIne suIes rose 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 Amazon.com I nc, eBay I nc, Walmart, Best Buy Co I nc and Target Corp, comScore said. Retailers are also being ag- gressive online as they look to benehL Irom Cyber Monduy, which falls on December 2 this year. Cyber Monday is the big- gest sales day of the year for e-commerce. R e u t e r s J .C. Penney Co I nc and Macy's were among retailers that had already begun their "Cyber Monday" sales on Sunday, looking to keep the momentum going. Target was calling the occasion "Cyber Week." The NRF predicted 131million Americans would shop online on Cyber Monday, compared with 129 million last year. ReLuIINexL, un unuIyLIcs hrm, found overall shopper traf- hc beLween Wednesduy und Friday fell 5.2 percent and that cusLomers wenL Lo Iewer dIer- ent stores, doing more online research beforehand. But shoppers spent more money in the stores they did 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 Retailers will continue to aggressively promote their in-store and online offerings, looking to entice todays very budget-conscious and value- focused shopper, Thanksgiving ~:...q~ .~ .~~~. ~..q~,.~..q:.. ..:.~ ....,...:..q:....:. ~ _.. . . q_.. ...~e ..:.- . .. . ._ ._. . , . ._ . . . . .e . , q:..,. ..:~.:.._~:. .q ._. ~. .|~.~ ~.~ . . . , .~.~: .:..:.~~ ~ .~ . ..:~._.~.,~. q._e.._~:. .q_.. 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INTERNATIONAL BIZ 19 December 12-18, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com GrainCorp Rejection Tarnishes Australias Reputation as Open for Business Jane Wardell A ustralia's "open for busi- ness" sign is swinging precariously in the wind 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 J oe Hockey rejected the deal - the third-biggest takeover by a foreign company in Australia to be blocked - after the Foreign I nvestment Review Board (FI RB) 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 FI RB 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- cIuI counseI uL Iuw hrm KIng & Wood Mallesons, where he advises clients on Australia's foreign investment regime. "There are so many myths out there and we are in competition with others for deals." I n reality, FI RB passes the vast majority of deals it reviews. I t rejected just 13 of more than 11,ooo uppIIcuLIons In hscuI 2012, all related to real estate. n u IIgI-prohIe bIddIng wur for Australia's Warrnambool Cheese and Butter Factory Holdings Ltd, Canada's largest dairy maker Saputo I nc found its A$515 million bid quickly waved through by the FI RB. 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". He sLressed IL wus LIe hrsL rejecLIon umong 11 sIgnIhcunL foreign investment applications since his conservative Liberal Party-led Coalition government took power in September. BuL experLs In LIe heId suId the reality does not weigh heav- ily enough on the perception. "Chinese and other Asian investors are of the view that AustraIia's decision to reject a $2. biIIion US-Ied takeover of agri-rm CrainCorp has made observers concerned about future investment deaIs in the country. R e u t e r s RB Is u dImcuIL process und II a deal goes to FI RB 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 rejected on "potentially rea- sonable grounds" because of GrainCorp's national strategic importance and dominance in the market. "We would hope this does not reecL u cIunge Ior poIIcy uecL- 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, 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. 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 uecLIng LIe ugrIcuILuruI secLor 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 I nc by state- owned CIInese oII hrm CNOOC 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 hrm udvIsIng YuncouI AusLruIIu 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 wIuL LIey were oerIng." Reuters _..._~..- "open for business" .._~.~~.,_e ~..q. _.. ._~....'.: . .e ~,e.q ._ GrainCorp ~:. ~..q~, ..,._~._e.._ Archer Daniels Midland (ADM) . .~.~ee .~ .~.~:._....._~: ..qq: .....:_e..:._._e.._~:. .q ._. e.~. ~..q. ~~:..ee .._e~.~~ ._.:..:.q..._... . .:.~ ._.:~ . , . ~ ._ ~. q .,_.. q..._.....:.~.,_e._. _..._~..~ ..,...:~_ .~~.. qqq,~~~ ..:q~q ._ . : .~ . ._~: . e. ~~_ .~ .~ . . _~._~: . ~_._ _._ . q: ...~~ ...: .:.. ~ . . , . q.:.~ ._.:_~:.._~._. _:.q... 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Tony Abbott ~ ..~~.,_e ..,..:.. q..._.....:.~~~ ~.|.e... :.._.._~.~~ ..~...: ..q, .~.._~:. ._.:_~:..._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com INVESTMENT & FINANCE 20 Myanmar Summary Myanmar Looks Abroad for Investment in Healthcare Jared Ferrie Y angon General Hospital was once the jewel in the crown of one of Southeast Asia's best healthcare systems. These days, hundreds of patients are forced to sleep in corridors of the hulking, colonial-era red-brick building, dogs doze on LIe oor oI LIe emergency ward and garbage is piled in corners. I t 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- menL spendIng LIIs hscuI yeur to March 31, from 1percent the previous year. As with many sectors, how- ever, prIvuLe hrms suy LIey ure 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 senIor mInIsLry om cIuI, wIo requested anonymity as he was not authorized to speak to media. Bangkok Dusit Medical Services Pcl, Thailand's largest private hospital group, sees My- unmur us LIe compuny's "hrsL priority for foreign investment", suId CIIeI OperuLIng Om cer 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. Singapore healthcare pro- vider AsiaMedic Ltd said in a J une 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 that the companies had yet to sIgn u dehnILIve ugreemenL. 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 working with the government on healthcare reform. "How Is LIIs goIng Lo benehL 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 are seen in Yangon CeneraI HospitaI. Myanmar's reformist government is seeking foreign investment to revive one of Asia's sickest healthcare systems. J a r e d
F e r r ie / R e u t e r s 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 LIose wIo cun uord IL oILen 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- going a minor operation. "I t was my two sons, both of them doctors, who insisted I shouldn't receive the treat- ments here," he said. I n 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". By LIe zooqJzo1o hscuI yeur, patients in Myanmar had to cover 81percent 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 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 puLIenLs wIo cun'L uord Lo puy. He said he hoped the hospital 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. "I n the near future I believe the dream will become true." Reuters q,~,~...q:|~...,_~. ._ e.~ ~.q.~:~:q~ ~.~: .. .~, ..:.q.~, ..: . .,. .:.~ .:~........: ..., _~ .~. . _e. . ._ .e. ~.| ..., _~ . ~.,_e ~, ..:.q...: .q :~ . .,. ~:. ~._.~q,~~~ .~. .,_.. .,:.:.~~~ ...~:.., ..: ~ , . .:.q. ~, ..: . .:.~ .:~ . .... q, ~~ ~ ._ . _~ ... . ..: q ~ . :.q._ _e. ._ ~: . . q ._. _.,.:.- .~q~..q~.,_e _. _ . ._ .: . . . .:. . :~ ~.~: ~_ .e: ..: q ~ . _. . e. ~.| ~:q ~ ~,..:.q...:.q:~..,..:. _ ~. , ~:.,_ ..,._ ~~ ~ . _.:.q .. ._. . . . .:.~ ~, ..:.q...: .q:~.~__ .:.q:~q..._... _~..q,~~~ ~.~....~:. .:.~ q :.e .,._~: .._. . q._ . ~:q . . ~, .~, ..:.q...: .q :~ ...,..:.~.,_e _.,.:.~ ..,..:. ..:q~.,_~_._e... ~_.:.. . , ..:.~.,_e ._ . . . , . ..:q~q,~~~ _...,._ ~~~ .,.._.:~.e,..|.q..: _.,.:_._..:.~~~ ~.:.~.: .~:.~.q.._e.._.~,..:.q. ..:.q:~..,..:.~:. ~._. ~q,~~~ ._.:.q..._ .... .:.~:. e~..'_..._ ~.q..|_.. .~ q ~. .q~.,_e .. .q.~. ..q ~ ~ , q:. . , ...: .. _. . ~, ..:.q. ~...q~~:. , q:..,. _.~. ._~:.._. .q._. ..~..,..:.. ._.:_~:..~ ~q . _.:.q .. ._. . . . .:.~.,_e ._...._.~.....q: ~:.,_. .~ .:.._~: q .. ._. . . . .:. .,:~ _., .~.:..._~:. .q._. ~,..:.q.~,_~._:,. ._.:.. ~, ..:.q...: .q :~ . . q:. . , . .:.~~~ ._...._.~...:.~:. .q.. .,_. . . _.:.. . , ..:.~.,_e _., .:. ~ _._ ~ .. . , .~. . . . ...| .__e. .. . .., ~_e. . . , . ...~_._~~_e ..:q~.: . e e q ._ ._., .:. ~:. . _.:. q .. ._. . . . .:. _.. . q, ~~ ~ .. ..:.......~ ~ ~. . ~_e. .. - . . ~~,..:.q...: .q :~ . . . , .~. . _e. ._ Bangkok Dusit Medical Services Pcl . ,_.:. ._~:. ~..|..,.- ~_~.~~ ~.._e.._ Chatree Duangnet ~ ._.:_~:..._. . ..: ._. ~ . ~ ~.,_e _., .: q..._.......~:. _.,.:~..q. q.q....._e..:..._~., ~ ..:.:..,._~:.._. ._.:_~:. .._. KPJ Healthcare Bhd . ~_ Amiruddin Abdul Satar ~ ,.-~ .~ ~.,_e _., .:. q ..., ~..~:. ...,..~..~ .|~. _. . ~. .q~.,_e ._ . . . , .~ .. . _...q, e~..'.._~:. ,~~: .~._:,. ._.:_~:..._. . ~:. . . ~, ..:.q...: .q :~ ...,.~.._e.._ AsiaMedic Ltd ~ _.,.:~.~~.._e.._ Five Oceans Service Co Ltd . ~~ . ~ . . ..| . . . q: ~, . ..:~_.~~ .~.~.q... _.._e.._~:. ._.:_~:..._. INVESTMENT & FINANCE 21 December 12-18, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com All Asia Asset Capital Acquires 7 pc Stake in Myanmar Allure Group I nvestment group All Asia Asset Capital (AAA) has, through a special-purpose wholly-owned subsidiary, acquired a minority 7 percent sLuke In IocuI IospILuIILy hrm 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 execuLIve. We ure conhdenL that the acquisition will provide 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 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, Su Su LIe resorL Is u hve mInuLe wuIk Irom LIe border und oers u variety of entertainment activi- ties including gaming, shopping and cultural sightseeing. According to a report, MAG plans to expand its business 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 $2 million in cash to MAG. q. . . _. . . . ~e ~._ . _e. ._ All Asia Asset Capital (AAA) . _._~ .. . , .~. . _e. ._ Myanmar Allure Group (MAG) ~ ..,. qee: q:..,. ~ee. ._~:. .q._. ~~e. Myanmar Allure Group (MAG) ~ q..._.... ~~ ~ ~. , . ~. .._.:~ ~. ..:_e. .,._~:. AAA - ~...:.. Dr Sri Hartati Kurniawan ~ ._.: _~:..._. e. ~ . . . , .~e e . ._ ~ . ~ ~~ ~ ~ . ~ . . ~ .~~ .:..._ _e. .. .,:~ . ~. ~.. ... .:.~ ._ . e, ~.. ._ _e. ~: AAA - qee:q.:.~~~._. ~~. ~_.~qq .:...__e.._~:. ,.~ ...:.._.:_~:..._. MAG ._ ... _.,.: . ~ ~ ~._.. ~ . . ..: _.. ~:..~~ e~e. ~.,.._e., q:.:.~~ ~ ._ . . . , ..:. ..: q ~ .,._~:. . q._ . MAG ~.,_e ...:..q...,. .:.~ .q,._. _...,_.. AAA . q e e:~e e . ~~ ~ ~..q ~,..'.: ..e MAG. ...~. . :.q._ _e. ._~: .. q._ . B ritain is listed fourth in foreign investment to Myanmar after investing more than US$ 256 million between J anuary and September, according to Directorate of I nvestment and Companies Administration (DI CA). 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 I nvestment Commission (MI C) has allowed Leisure Holdings Asia Ltd. and HC (Asia) Holding Co. Ltd. from Britain the right to do business in Myanmar. British Prime Minister Bavid Cameron meets President Thein Sein at 1U Bowning Street. UK 4 th in FDI, January-September A n d r e w
W in n in g / R e u t e r s Oliver Slow Myanmar Summary ~,,~|q.. .~~:.~~. ~..q~,..'.: ' ..e.~: q..._..._...,:~ _-~,._ _.,.: .~ .~~~.:... q..._... :.._e..:._~:. q..._..... ~.~.:.,_~:....._:,. ~.~ ~.~.:.~q .q._. e..~q_ ~,~. ... .e:.~:~.,:~~ _-~,._ ~.:.. .q .. ._. . . :.. ~_e. q. ~_ .,_.. ..,...|. ' .~ ~.. q~,..'.: , .e.~:~ q..._...:.._~:. .q._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com INVESTMENT & FINANCE 22 Myanmar Summary Thirty international companies have bid for offshore gas blocks in Myanmar, including international giants such as Chevron and Total. F ile s OHshore Tender Attructs o Iirms M yanmar has received bids from 30 com- panies, including international oil companies and state-owned oil and gas com- punIes, In ILs muIden osIore licensing round, according to data from the Ministry of Oliver Slow Energy. In this licensing round, the governmenL oered o bIocks 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 Japans Mitsui Oil Exploration Company, has bid for three blocks, while Chevron has bid for two. ExxonMobil for two blocks, as well as Statoil, who is in partnership with Conoco- Phillips, and Total. Thailands PTT Exploration and Production, which already has a heavy presence in the country, has bid for one block and Malaysias Petronas has bid for two, as has Indias OVL. The 11 shallow water blocks on oer comprIse LIree bIocks In LIe RukIIne OsIore Areu, LIree In LIe MouLLumu OsIore Areu und hve In LIe TunInLIuryI OsIore Areu. OI LIe 1q deep- water blocks, 12 are in the Ra- khine area, three in Moattama und hve In TunInLIuryI. Bidder were allowed to submit a maximum of three bids each, and the blocks will be awarded under a production sharing agreement, although foreign compunIes couId be oered IuII ownership of some deepwater blocks. For the shallow blocks, foreign hrms musL Leum up wILI one Io- cal company, but the deepwater blocks are expected to grant stand-alone status. FMI Launches $25 mil Rights Issue I nvesLmenL IoIdIng hrm First Myanmar Investment (FMI) has launched a K25 billion ($25 million) rights is- sue for the companys existing shareholders, the proceeds of wIIcI wIII be used Lo hnunce 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. Oliver Slow Our economy is on the cusp oI u sIgnIhcunL boom, u perIod of exponential growth that may not be easily repeated in the decades to come. It is there- fore our corporate strategy to proactively expand our existing operations and initiate start- 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 beLween hve und nIne percenL 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- porury uIr operuLor`s cerLIhcuLe, as well as an additional invest- ment in Meeyahta International Hotel Ltd, a 10-acre mixed use property development in downtown Yangon, which will IncIude IoLeIs, om ce Lowers, a shopping mall and high-end condominiums. Myanmar Summary Daiwa to Advise AGD Bank Kyaw Min D aiwa Securities Group will advise Myanmars Asia Green Development (AGD) Bank as it prepares to go public on the countrys stock exchange, which is expected to be implemented in 2015. At a signing ceremony in Yangon last week, chairman of AGD Bunk, TIun YI expressed IIs wIsI LIuL LIe InILIuI pubIIc oerIng process wIII be successIuI und LIuL LIe bunk wIII become LIe hrsL 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, Daiwas investment banking arm, will provide assistance in areas including negotiations with hnuncIuI reguIuLors us weII us coordInuLIon wILI IeguI und uc- count professionals. PresIdenL und cIIeI execuLIve om cer oI LIe DuIwu group, Takashi Hibino, said the signing represents an important step for the development of an equity market in Myanmar. Myanmar Summary . . .~ ~, _~ ._:,. ~.~ ~.~ .:.~q ~_.__._.q: .q,~.~ _~ ..:.. . . .q, . .:~.:~ .~.~.:. ~.|~~ ~.~..|. ,~ . ~...,..~~.:.~~~ ~ .|..:~ :.. .:.~ _.. . :. ._~:. .q._. e. ~ .|..'. e . ~ ~. .q~., _e ~... , . . ~ ~ ..| . ,~ ~~ ~ ~.|..'._.._e._.. ~....q~. ....~~ ~~ .. .q,~.... ~~ ~ ._e.._~:. .q._. ~_.__._.q: .q,. .:~ .:~...,..:..._. .~~.:. .q.,._~:. .q._. .,.- Mitsui Oil Exploration Company . Shell ~. ....|._ ..~~ . .. ~~ ~ ~ .|..:~ :.. _.. . :... Chevron . ..~~ . ~~ ~ ~ .|..:~ :.. _.. . :.._.ExxonMobil . ..~~ .~~~ ..:~:.. _...:._.. Statoil . ConocoPhillips , Total ~. ....|._ ~.|..:~:..~ ._. _...:.._. _.,.:.~ ..,.~.~.:q .,..: .. - PTT Exploration and Production .._. ..~~ ~ . ~~ ~ ~ .|..:~ :.. _.. . :._.. ....q :..- Petronas . ..~~ .~~~ ~.|..:~ :.. _.. . :.._ . ~ . e. - OVL . ._. ~.|..:~:...:. _...:.._~: . .q._. Daiwa Securities Group ._ _.,.:. - ~:q....,.e _e ..q. ~ ~:. ~~ ~ ~.~: ~_ .e:..:q~.:.._ ..~:~..,. ~ ~.:.. ~_e. ._.: .. q, _. ..,. ~~ ~ ~_~ _~ .:..... :.._ _e.._~:. .q._. .,.._~.~~ q,~,_.~ _......: .~.~.q...~... ~,:._ ~:q....,.e_e..q.~- ~_ ..,.q~~.:..qee:.:. ~_e..q:.....,..~.,_e.~:_.q,. _.,.:.~ .. ... ~.:..~.~~.._e..:..q, .._.._~:. ._.:_~:..._. ~:q....,.e_e..q.~..._.,.:...:..q.~~.....: Myanmar Securities ExchangeCentre (MSEC) ~. ..:~ .~.~ .q..._....._~:. .q._. q ..._ . . . . . . ,.~.. _ e. ._ First Myanmar Investment (FMI) ._ _., .:~. . . e ~.. q~,..'.: ..e, ~,e.q._ q e e:.:.~:. ~ . ~ -.~ q qe e: q.:.~:. .q:.....q, ~_ .,. ._~:. .q._. ~..| qee:.q:.... qq..: ..:.~:. ..,.- _:.q... .q: e_e.~.~~.~~~ ~.._. .:..__e.._~:. .q._. ~.~ ~.,_e qee: . ..e~:. ~_.,.:..__e._.. qee:~.. ....,..: ~.. ~~~~~ ~..q ~,..'.: ~~ ..'.:, _e.q:.. .:..__e.~: .~q qee:....,. ~ ~ q:..,...:._ .q:.. ....:..__e.._~:. ~.~. ._.: _~:..._. qee:.:.~:. .~q~.qee: q.:.~~~ ~eeq, ~_.,... .:..__e._.. _.,.:~.~.:.~~ ... Article 105 (C) .~_ .~:. q~.,. ~,,~|q. q~.,~ .q:...:..__e. ._~: . . q._ . ~~, . . . ~, ,~|q . q~.,~._. ~.:._._.. qee:.:. ~eeq,~~~ qee: e.... :..__e.._~:. . q._ . INVESTMENT & FINANCE 23 December 12-18, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com Japan Helps Keep Myanmar On Track with Railways Servicing Equipment J apan has provided railway equipment to Myanmar to help maintain its dilapi- dated railway system. Japan International Trans- port Institute (JITI) has pro- vided equipment worth 5.24 million yen ($55,000) to the state-run Myanmar Railways, it was reported last week. Japanese companies have taken a key role in projects in Myanmar as it emerges from hve decudes oI mIIILury ruIe, purLIcuIurIy In LIe heId oI infrastructure. The Japanese government has proposed 11 projects for railway services to be implemented. These include a 265 kilometre railroad between Yangon and Toungoo, wIIcI Is LIe hrsL Oliver Slow phase of a Yangon-Mandalay, with a 172-kilometre Toungoo- Yamethin section as the second phase, and a 177-kilometre Yemethin-Mandalay section as the third. The east Japan Railways Company has vowed to help promote the development of Myanmar railway manage- ment and transport by sharing technical knowledge with Myanmar. Earlier this year, Japan announced that it would be providing Myanmar with a loan of over 51 billion ($497 mil- lion), of which about a third is to be used for construction and renovation of infrastructure, another third for the develop- ment of infrastructure at Thil- awa Economic Zone, and the rest for upgrading power grid Myanmar Summary ., . . . .q:.~. .~..: .._..:.~:. _.,.:.. .:~. ._.. _.,.:.- ..q:..,.~:. ,...._._...:. _....:..q, ~~~_e.._~:. .q._. J apan International Transport Institute (J ITI) . e,.. ., ..e ~..q~,..'.: ~~~, ~:. . . _., .: . .q:.. .:~ . . ._~: . . q._ . .e . . . .,..|. ..~..q~... ..~.~:~. .,._.:~ _. .. . ~.q. .. .._~: ...'. .q:~ q .:. ..: _., .:. ~ ., ~.~ .:.~.,_e ..~,..:.~ ~.~~.,.~_. .| ~ .,_. .~ .._e ~._..~..:~ ~~ ~___e. ._~:. .q._ . The Five Laws of Gold David Mayes A s I have just written about educating yourself hnuncIuIIy, LIougIL a good follow up would be to brIey presenL u seL oI prIncI- ples outlined in one of the older works I mentioned, The Rich- est Man in Babylon by George S. Clayson. They are presented us LIe hve Iuws oI goId, und they still hold true today. If you IoIIow jusL LIese hve Iuws und ignore all the other advice I give in these columns, I am sure you will leave a nice estate behind to your loved ones. 1.Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. TIe hrsL Iuw Is very sImpIe, and that is simply to make sav- ing a habit. Many who fail to realize the importance of this simple technique usually fail to reuIIze hnuncIuI Independence. DeIuyed gruLIhcuLIon Is LIe core of building wealth, yet in the modern world of consumer credit the most common prac- tice is to do the exact opposite. 2.Gold laboreth diligently and contentedly for the wise ouner uho jnds jor it projt- able employment, multiplying eten cs the jocls oj the jeld. The power of compounding, even at low rates of return, will eventually lead to an upward spiral. This is mathematically certain. Yet many people place large amounts of their earned income into depreciating as- sets, such as motor vehicles, grown up toys such as boats, and keeping up with the latest consumer trends. Again this is uIso u Lrude-o beLween con- sumption now or later, and the more you deIuy gruLIhcuLIon LIe more you ought to get net in the long run. 3.Gold clingeth to the protec- tion of the cautious owner who invests it under the advice of men wise in its handling. Unfortunately this is much more dImcuIL In LIe modern world, where there are an in- creasing ways to lose money in very sophisticated ways. Yet at the end of the day, the force wIIcI conLroIs LIe hnuncIuI markets still boils down to a never ending pendulum, swing- ing from greed to fear. This is what makes the masses pile into and out of asset classes and it will never change. A money manager with a good long term track record (meaning surviv- ing at least one full bull and bear cycle) is likely to continue to do well in coming cycles de- spILe uny sIorL Lerm dImcuILIes. An up and comer with a good story to tell is a wildcard to be avoided. Also avoid any stock market fund like the plague if their performance started after the crash of 2008, as they most likely have started anew after being devastated. 4.Gold slippeth away from the man who invests it in busi- nesses or purposes with which he is not familiar or which are not cpproted b those slilled in its leep. Rules three and four are simply counterparts of each other. However, it is never wise to invest in anything you cant completely understand. There are plenty of simple strategies that make money in the long run. Dont overcomplicate it or uII oI LIe benehLs oI IoIIowIng LIe hrsL Lwo ruIes cun be IosL. These two are obviously the mosL dImcuIL In LImes oI Iow interest and scams and fund collapses abounding, but with a little caution you can avoid most of the landmines. With di- versIhcuLIon you cun muke sure any speed bumps you do hit are easy to recover from. 5.Gold jees the mcn uho would force it to impossible earnings or who followeth the cllurin cdtice oj triclsters and schemers or who trusts it to his own inexperience and ro- mantic desires in investment. This one is fairly straight- forward. Obviously going after astronomical returns is a surehre wuy Lo Iose money. TIIs is not to mean a small portion of a portfolio cant be allocated to higher risk asset classes, but you should never try to earn double digit returns on your entire estate as a strategy. Youd be amazed at what 15-20 years of 6-7% annual compounding can produce in total return. David Mayes MBA provides wealth management ser- vices to expatriates throughout South East Asia, focusing on UK Pension Transfers. He can be reached at david.m@ faramond.com. Faramond UK is regulated by the FCA and provides advice on pensions and taxation. projects and power stations in and around Yangon. 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December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com 24 INTERNATIONAL AND DOMESTIC FLIGHT SCHEDULE Fliggh htss ffroom Yanggon (RGNN) to Bangkok ((BKK) Fliggh htss ffroom Banggkok (BKKK) to Yaangon (RGN) Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: PG 706 1 2 3 4 5 6 7 RGN BKK 7:15 9:30 Bangkok Airways DD4230 1 3 5 7 DMK RGN 06:30 07:55 NOK Airlines DD4231 1 3 5 7 RGN DMK 8:00 9:45 NOK Airlines 8M336 1 2 3 4 5 6 7 BKK RGN 6:40 7:25 MAI FD2752 1 2 3 4 5 6 7 RGN DMK 8:30 10:15 Thai AirAsia FD2751 1 2 3 4 5 6 7 DMK RGN 7:15 8:00 Thai AirAsia 8M335 1 2 3 4 5 6 7 RGN BKK 8:40 10:25 MAI TG303 1 2 3 4 5 6 7 BKK RGN 8:00 8:45 Thai Airways TG304 1 2 3 4 5 6 7 RGN BKK 9:50 11:45 Thai Airways PG701 1 2 3 4 5 6 7 BKK RGN 8:50 9:40 Bangkok Airways PG702 1 2 3 4 5 6 7 RGN BKK 10:45 12:40 Bangkok Airways FD2755 1 2 3 4 5 6 7 DMK RGN 11:35 12:20 Thai AirAsia Y5-237 1 2 3 4 5 6 7 RGN BKK 18:05 19:50 Golden Myanmar Airlines PG707 1 2 3 4 5 6 7 BKK RGN 13:40 14:30 Bangkok Airways TG302 1 2 3 4 5 6 7 RGN BKK 14:45 16:40 Thai Airways Y5-238 1 2 3 4 5 6 7 BKK RGN 21:10 21:55 Golden Myanmar Airlines PG703 1 2 3 4 5 6 7 RGN BKK 15:20 17:15 Bangkok Airways FD2753 1 2 3 4 5 6 7 DMK RGN 16:35 17:20 Thai AirAsia 8M331 1 2 3 4 5 6 7 RGN BKK 16:30 18:15 MAI PG703 1 2 3 4 5 6 7 BKK RGN 16:45 17:35 Bangkok Airways FD2754 1 2 3 4 5 6 7 RGN DMK 17:50 19:35 Thai AirAsia TG305 1 2 3 4 5 6 7 BKK RGN 17:55 18:40 Thai Airways PG704 1 2 3 4 5 6 7 RGN BKK 18:25 20:20 Bangkok Airways 8M332 1 2 3 4 5 6 7 BKK RGN 19:20 20:05 MAI TG306 1 2 3 4 5 6 7 RGN BKK 19:40 21:35 Thai Airways PG705 1 2 3 4 5 6 7 BKK RGN 20:00 21:15 Bangkok Airways FFliggh htss ffroom m Yangoon (RGN)) to Chiaang Maii (CNX) FFliggh htss ffroom m Chiangg Mai (CCNX) to YYangon (RGN) W9-9607 4 7 RGN CNX 14:50 16:20 Air Bagan W9-9608 4 7 CNX RGN 17:20 17:50 Air Bagan Flligghtss ffroom Yanggon (RGNN) to Sinngapore (SIN) Flligghtss ffroom Singaapore (SIN) to Yangon ((RGN) Y5-233 1 2 3 4 5 6 7 RGN SIN 10:10 14:40 Golden Myanmar Airlines Y5-234 1 2 3 4 5 6 7 SIN RGN 15:35 17:05 Golden Myanmar Airlines MI509 1 6 RGN SIN 0:25 5;00 SilkAir SQ998 1 2 3 4 5 6 7 SIN RGN 7:55 9:20 Singapore Airline 8M231 1 2 3 4 5 6 7 RGN SIN 8:30 13:00 MAI 8M6231/3K585 1 3 4 5 6 SIN RGN 9:10 10:40 Jetstar Asia SQ997 1 2 3 4 5 6 7 RGN SIN 10:25 14:45 Singapore Airline 8M232 1 2 3 4 5 6 7 SIN RGN 14:10 15:40 MAI 8M6232/3K586 1 3 4 5 6 RGN SIN 11:30 16:05 Jetstar Asia MI518 1 2 3 4 5 6 7 SIN RGN 14:20 15:45 SilkAir 8M233 5 6 7 RGN SIN 13:45 18:15 MAI 8M235 5 6 7 SIN RGN 19:15 20:45 MAI TR2827 1 6 7 RGN SIN 15:10 19:35 TigerAir TR2826 1 6 7 SIN RGN 13:00 14:30 TigerAir TR2827 2 3 4 5 RGN SIN 17:10 21:35 TigerAir TR2826 2 3 4 5 SIN RGN 15:00 16:30 TigerAir MI517 1 2 3 4 5 6 7 RGN SIN 16:40 21:15 SilkAir MI520 5 7 SIN RGN 22:10 23:35 SilkAir FFliightts frromm Yangonn (RGN) tto Kualaa Lumpuur (KUL) Fligghtts frro om m Kuala LLumpur (KUL)too Yangonn (RGN) AK1427 1 2 3 4 5 6 7 RGN KUL 8:30 12:50 AirAsia AK1426 1 2 3 4 5 6 7 KUL RGN 6:55 8:00 AirAsia 8M501 1 2 3 4 5 6 7 RGN KUL 8:55 12:55 MAI MH740 1 2 3 4 5 6 7 KUL RGN 10:05 11:15 Malaysia Airlines MH741 1 2 3 4 5 6 7 RGN KUL 12:15 16:30 Malaysia Airlines 8M502 1 2 3 4 5 6 7 KUL RGN 14:00 15:00 MAI Fligghtts frrom Yanngon (RGGN) to HHanoi (HHAN) Fligghtts frrom Hannoi (HANN) to Yanngon (RRGN) VN956 1 3 5 6 7 RGN HAN 19:10 21:30 Vietnam Airlines VN957 1 3 5 6 7 HAN RGN 16:35 18:10 Vietnam Airlines Flliggh htss ffroom m Yangon (RGN) to Ho CChi Minhh (SGN) Flliggh htss ffroom m Ho Chii Minh (SSGN) to Yangonn (RGN) VN942 2 4 7 RGN SGN 14:25 17:10 Vietnam Airlines VN943 2 4 7 SGN RGN 11:40 13:25 Vietnam Airlines Flligghtss ffrom Yanngon (RGGN) to TTaipei (TTPE) Flligghtss ffrom Taipei (TPEE) to Yanngon (RGN) CI7916 1 2 3 4 5 6 RGN TPE 10:50 16:10 China Airline CI7915 1 2 3 4 5 6 7 TPE RGN 7:15 10:05 China Airline BR288 2 5 6 RGN TPE 11:35 17:20 EVA Air BR287 2 5 6 TPE RGN 7:30 10:35 EVA Air Flliggh htss ffroom Yanggon (RGNN) to Kunming(KMG) Flliggh htss ffroom Kunmming(KMMG) to Yangon ((RGN) CA906 2 3 4 6 7 RGN KMG 14:15 17:35 Air China CA905 2 3 4 6 7 KMG RGN 12:40 13:15 Air China MU2032 1 2 3 4 5 6 7 RGN KMG 14:40 17:55 China Eastern MU2031 1 2 3 4 5 6 7 KMG RGN 13:30 14:00 China Eastern MU2012 3 6 RGN KMG 12:20 18:10 China Eastern (via NNG) MU2011 3 6 KMG RGN 8:25 11:30 China Eastern (via NNG) Flligghtss from Yanngon (RGGN) to BBeijing (BJS) Flligghtss from Beijjing (BJSS) to Yanngon (RRGN) CA906 2 3 4 6 7 RGN BJS 14:15 21:55 Air China (via KMG) CA905 2 3 4 6 7 BJS RGN 8:05 13:15 Air China (via KMG) Fliggh htss ffroom Yanggon (RGNN) to Naanning (NNG) Fliggh htss ffroom Nannning (NNNG) to Yaangon ((RGN) Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: MU2012 3 6 RGN NNG 12:20 16:25 China Eastern MU2011 3 6 NNG RGN 10:15 11:30 China Eastern FFliggh htss ffroom m Yangoon (RGN)) to Honng Kong (HKG) HHonng g KKo ong (HKG) Flights from Yaangon ((RGN) KA251 1 2 4 6 RGN HKG 1:10 5:35 Dragon Air KA250 1 3 5 7 HKG RGN 21:50 23:45 Dragon Air Flliggh htss ffroom m Yangon (RGN) to Guanng Zhouu (CAN) Flliggh htss ffroom m Guang Zhou (CCAN) to Yangonn (RGN) 8M711 2 4 7 RGN CAN 8:40 13:15 MAI CZ3055 3 6 CAN RGN 8:40 10:30 China Southern Airlines CZ3056 3 6 RGN CAN 11:20 15:50 China Southern Airline 8M712 2 4 7 CAN RGN 14:15 15:45 MAI CZ3056 1 5 RGN CAN 17:40 22:15 China Southern Airline CZ3055 1 5 CAN RGN 14:45 16:35 China Southern Airlines FFlighhts ffroom Yanggon (RGN) to Koolkata (CCCU) FFlighhts ffroom Kolkkata (CCUU) to Yaangon (RRGN) Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: AI228 5 RGN CCU 18:45 19:45 Air India AI227 1 5 CCU RGN 10:35 13:20 Air India AI234 1 5 RGN CCU 13:40 16:55 Air India (via GAY) AI233 5 CCU RGN 13:30 18:00 Air India (via GAY) Fliggh htss ffrom Yanngon (RGGN) to GGaya (GAAY) Fliggh htss ffrom Gayya (GAY) to Yanngon (RGGN) 8M 601 1 3 5 6 RGN GAY 10:30 11:50 MAI 8M 602 1 3 5 6 GAY RGN 12:50 16:00 MAI AI234 1 5 RGN GAY 13:40 15:00 Air India AI233 5 GAY RGN 15:00 18:00 Air India Fligghtts frrom Yanngon (RGGN) to TTokyo (NNRT) FFliightts frrom Tokkyo (NRTT) to Yaangon (RRGN) NH914 1 3 6 RGN NRT 22:00 06:40+1 ALL NIPPON Airways NH913 1 3 6 NRT RGN 11:10 17:05 ALL NIPPON Airways FFliggh htss ffrom Yanngon (RGGN) to SSeoul (ICCN) FFliggh htss ffrom Seooul (ICN)) to Yanngon (RGGN) KE472 1 3 5 7 RGN ICN 0:05 8:00 Korean Air KE471 1 2 3 4 5 6 7 ICN RGN 18:40 22:55 Korean Air OZ7463 4 7 RGN ICN 0:50 8:50 Asiana OZ4753 3 6 ICN RGN 19:30 23:40 Asiana Flligghtss ffrom Yanngon (RGGN) to DDoha (DOOH) Flightts frrom Dohha (DOH) to Yangon (RRGN) QR619 1 2 3 4 5 6 7 RGN DOH 8:00 11:45 Qatar Airways QR618 1 2 3 4 5 6 7 DOH RGN 21:05 06:29+1 Qatar Airways Flliggh htss ffroom m Yangon (RGN) to Nay Pyi Taww (NYT) Flliggh htss ffroom m Nay Pyyi Taw (NNYT) to Yangonn (RGN) Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: FMI-A1 1 2 3 4 5 RGN NYT 7:30 8:30 FMI Air Charter FMI-A2 1 2 3 4 5 NYT RGN 8:50 9:50 FMI Air Charter FMI-B1 1 2 3 4 5 RGN NYT 11:30 12:30 FMI Air Charter FMI-B2 1 2 3 4 5 NYT RGN 13:00 14:00 FMI Air Charter FMI-C1 1 2 3 4 5 RGN NYT 16:30 17:30 FMI Air Charter FMI-C2 1 2 3 4 5 NYT RGN 18:00 19:00 FMI Air Charter FMI-A1 6 RGN NYT 8:00 9:00 FMI Air Charter FMI-A2 6 NYT RGN 10:00 11:00 FMI Air Charter FMI-A1 7 RGN NYT 15:30 16:30 FMI Air Charter FMI-A2 7 NYT RGN 17:00 18:00 FMI Air Charter 6T211 1 7 RGN NYT 15:30 16:25 Air Mandalay 6T212 1 7 NYT RGN 16:45 17:40 Air Mandalay FFliightts frrom Yangoon (RGN) to Manndalay ((MDY) FFliightts frrom Manddalay (MDDY) to YYangon (RGN) Y5-234 1 2 3 4 5 6 7 RGN MDY 6:15 7:30 Golden Myanmar Airlines Y5-233 1 2 3 4 5 6 7 MDY RGN 8:10 9:25 Golden Myanmar Airlines YH 909 2 4 6 7 RGN MDY 6:30 8:10 Yangon Airways YH 910 1 3 MDY RGN 7:40 10:30 Yangon Airways YH 917 1 2 3 4 5 6 7 RGN MDY 6:10 8:30 Yangon Airways YH 918 1 2 3 4 6 7 MDY RGN 8:30 10:25 Yangon Airways YH 727 1 5 RGN MDY 11:15 13:25 Yangon Airways YH 728 1 5 MDY RGN 9:10 11:05 Yangon Airways YH 731 1 2 3 4 5 6 7 RGN MDY 15:00 17:10 Yangon Airways YH 732 1 2 3 4 5 6 MDY RGN 17:10 19:15 Yangon Airways W9 501 1 2 3 4 RGN MDY 6:00 7:25 Air Bagan W9 502 1 2 3 4 MDY RGN 16:10 18:15 Air Bagan K7 222 1 2 3 4 5 6 7 RGN MDY 6:30 8:40 Air KBZ K7 223 1 2 3 4 5 6 7 MDY RGN 9:00 11:05 Air KBZ YJ 201 1 2 3 4 5 6 7 RGN MDY 11:30 12:55 Asian Wings YJ 202 1 2 3 4 5 6 7 MDY RGN 16:00 17:25 Asian Wings Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday PROPERTY & REAL ESTATE 25 December 12-18, 2013 Myanmar Summary Myanmar Business Today www.mmbiztoday.com F ifty three hotels, with a capacity of more than 3,800 rooms opened in the capital city Nay Pyi Taw just in time for the Southeast Asian Games (SEA Games), which got underway on December11. According to an announce- ment by the Ministry of Hotels and Tourism, eleven hotels were opened on November 26 and 27, with the rest opening a few days later. In the announcement, the ministry said that guests arriv- ing in Nay Pyi Taw for the SEA Games should report to the Committee for Accommodation and Reservations, which will coordinate accommodation for visitors, with rooms priced between $100 and $150 for non-competing visitors. For coaches and athletes, rooms will be priced at $70 and media $55, according to a mInIsLry omcIuI. The SEA Games, which will attract competitors and visitors from across the continent, are seen as a key test for Myanmar to measure if they are ready to cope with the surge of interest that is coming the nations way Hotel Rooms Made Available for Start of SEA Games Shein Thu Aung Workers at the Wunna Theikdi Stadium in Nay Pyi Taw, which will host the opening ceremony of the Southeast Asia Games. F ile s in the midst of the economic reforms that are taking place in the country. Visitors might be short of options for sightseeing when visiting the city for the 22-day event. Only established as a city in 2006, the government has attempted to make it a more attractive tourist desintaitons by adding activities such as museums, parks and a zoo. With the increase in construction in Yangon, cement has seen a huge sales surge. I n the construction material market, demand for cement is increasing rapidly in Yan- gon, according to construction Cement Sees Solid Sales Surge Kyaw Min F ile s Myanmar Summary material sellers in the city. In particular, Thai brands Elephant and Diamond ce- ment are selling the best in the city, which is seeing a surge in properties being built as the country continues to attract in- creased interest, and therefore visitors, from the international community. Local brands have also seen a surge in sales, according to sellers. In the present market, not only the larger Thai brands are selling well, but local brands have seen a boost too, said U Than Tun from Sawbwar- gyigone construction material market. Brands from Vietnam are per- forming well too, with Double Ace, Rhino, Flying Horse and Horse Head, which are gener- ally cheaper than their Thai rivals in Yangons market. More people prefer cheaper products, Daw Khing Khing from Thapyay Nyo Construc- tion Materials shop told My- anmar Business Today. They generally prefer a fair price with medium quality, she added. ~ . ..:~ .. _ ....~ ~ ~ .q: . ~:..~:. ..~ ..._. ~ .. .:.. ~_.:. .. ._.~ . . .:.. :._ .~e . ~:. _ . ~~ .: ._~: . .. ._.. ~ . ..:~ .. _ . ~.q: ...:.. .q._. ..~ ..._.~...:. _e...: .~... .,~.... ._..:.._ .q: .~:.~.~: .. . ..._..:. _e...:._. _._~. ~ .. ._..:.~.|~~ ~_.:. ~.~~...:..: ~e.~:..:..: ~: .q:.~:..~:..,.:._~:. ..::._~.~,.q ..._.. ~. ..:~ .. _ . .q: . ~e .q. . . .., . , .~ ~. ...~ ~ . : ~q ~,.~. .~... .,~.. ..._..~. .q:.~:..~:.~: .e~..~,~...~._. .q:. ~:..~:..|~e''e ._.:._. e .~ . .q: .~:..~: .. , .: ..: ..._.~...:.. : -e~,. .~ Double Ace ~.. _~~.. _...~... _....|. ~....._.~_e._.. ..~.~:. ~~.~ .~.q:.~:..~:..: . _. ._e. ~: e .~. ~ ~ . . .:.._ .~... .,~....._..:. ~ ....,....~.:._~:. .q ._. .._ ._ ~ . ..:~ .._.~.q: . .. ..'..~ ~...~~ ....~.:~:~. ....:_~~e. ...._ ..~ .:_. . ~q_ ~.. . .~~~...~~ ..q..e.: _~~:.:.~e''e ._.:._ . ~.q .~: ~:q ~:.~.:.. .~: ~~ ~ .,_._ .~: ~ e ~e ..| . , . e..:.._.. ~.,...|. ,~~ ~ q.,._~:. .q._. e~e..q..:..:.q.~,_~._:, . ._~_:.~ ~q . ~ :. ' q~ .,. q~.,~ e~e ~~ .. ~ e . . . _.. ~, q ._ e ~e .:.~:. q~ ~,_.e ~_~:~ e . . . ._~: . .q._. ~. .| ~ _., ._~_:.~ ~ ~, _~ . _:,. ....~:.~.:...~:~~~ .,_._ .~: . .:.q:~ _~._ -_ ._ .~:.:.~.,_e Accommodation and Reservations .~:.~. ~._~:._~:.._.. ~:.~.:._.. .:.~ e _. . .e ~ ._ -_ ._ .~:.:.- e~e~.,...:.~~~ ~..q~,..'.: ~~~ . ~~ _~:. qq,~ ...:..e_e.._~:. ~,_~. _:,. ._.:_~:..._. ~:.~.:.,_ ._..:.. ~:.~.:. ..:..:.~~ ~ e ~e ~., ...:.. : ~..q~,..'.: ~ _e._.. ..e: .:.~~~ ~..q~,..'.: ..'.:_e.._~:. ~,_~._:,. ~. ..:~..- ._.:_~:..~~q .q ._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com 26 Myanmar Summary PROPERTY & REAL ESTATE overheads than Macau and can promise higher incentives to wealthy gumbIers. TIey uIso oer greater privacy, a key ad- vantage for wealthy play- ers who drop 1 million yuan ($164,000) a bet and are wary of China's anti-corruption drive. Heng Sheng, one of Ma- cau's youngest junket out- hLs wIIcI Is uImIng Lo go public in the near future, has cooperation agree- ments with Danang's Crown Casino in Vietnam and in Walkerhill casino in South Korea. "Heng Sheng this year started its international expansion," the com- From page ;... (Macau's ]unket) pany's assistant director, Luke Lu, said. "Right now we have agreements in place overseas, gradually we'll move to open VIP rooms and then take stakes in the casinos." Suncity operates VIP rooms around Asia, including in Austral- ian billionaire James Packer's Crown casino in Melbourne and in Philip- pine tycoon Ricky Razon's Solaire casino in Manila. The group, which is headed by 39-year-old Macau businessmen Alvin Chau, also has a joint venture operation at the Cagayan Holiday and Leisure resort in the north of the Philippines. Jimei, run by Guang- zhou-born junket tycoon Jack Lam, operates two resorts in the Philippines as well as a gambling ship that does daily cruises out of Hong Kong. "The terms the junkets get overseas are typi- cally much better than in Macau. For instance, in the Philippines, due to the lower tax rate, jun- kets can receive a bigger commission," said Peter Lok, a former executive of Macau casino operator SJM Holdings Ltd and Jimei Group. Casinos in Macau - the only place in China where gambling is legal - pay close to 40 percent of gaming revenues in taxes, compared with just 15 percent for VIP gambling revenue in the Philippines. Another way Macau junkets are adapting their business is to appeal more to middle-class gamblers and leisure travellers, who Macau authorities are targeting in a bid to turn the former Portuguese colony into an international tourist Myanmar Summary destination. While these punters place smaller bets than the super-rich, they gen- eruLe sIgnIhcunLIy IIgIer prohL murgIns becuuse the casino operators do not need to pay com- missions to the junkets to bring them into their resorts. So the junkets are using sophisticated promotions and sponsorship of major events to broaden their appeal beyond the VIP market and overcome their image as shady businesses with alleged criminal connections. "More junkets are looking at the cash and premium mass player for business opportunities," said Chien Lee, former chairman and chief ex- ecutive of Iao Kun Group which is planning a Hong Kong listing. Heng Sheng is sponsor- ing the Macau Interna- tional Movie Festival in December while Suncity is launching its own quar- terly magazine about lifestyle and business at the end of this year. Yu Yio Hung, a Macau junket operator of 27 years, said rapid growth has raised new challenges for the industry. "The gaming conces- sionaires (casinos) want to promote the mass market business which is increasing very fast. The concessionaires are rais- ing the bar for VIP club operators and they need to meet higher and higher targets," he told a Macau Gaming conference in November. Reuters ., .:~ ~:. . , .:._ ~.:. .,_~..:.~.:.. . : ~,~ . .:..:._e. _. . ..: .~.:., .:.~.,_e ~ . qq . . : ~. , . _., . :~ .~~ .:.,._~: . ._. .q._. e....~.,_e ~..| ~:. . . . , .~ .~~ .:. ._~: .~ :~ . . ~ .,._~:.e .. . . ~q:.~..:.~.:... , ..:. e _e .~ .~~ . . q: . ~ __e. . Francis Hernando ~ ._.:_~:..._. ....:_~e~..: ~,~ ..:...:.~.:._.... .:.~.,_e ~:q- e_e.~. ~~.:..: ~:..,.:.~ ~.:.~_.:.q.,_.. .~:~- .e:._e.q..q:.~:..q~: .:.~ ...~ .. . , ..:. e _e .~ .~~ . q .:q, ~~ ~ , .~ - _ ._ ~ .~._.. ~ ..,..:.~:. ~,.~:.~.. ~_e. ~. ._..,_~._~: . . q ._. .e: ._e.q.. q:.~: ..q ~:.:.~.,_e ~:q ~. ~, .~ . . , .. :.. q, ~~ ~ ~.~...q:.e.,_.. ~_~. ....,...~.~.. _e..:.__e.._~:. .~:~ ~._..~ ~~....,. IGamiX . ~:q..... ~ ~ . q: ~~ . . ~. ._e. ._ Ben Lee ~ ._.:_~:. .._. _ ._ .. . , .. . ._ .e:._e.q...,..q:.~: ..q~:.:.~~ ~ . . ,...: q ~ ._ ~ . q. .:. . ~. . . _e. _.. ~: . . . . , . .:. . .~: .q .~ ._ . qq ._~: . .q._. ~:. . . . ,. .:. ~.,_ e ._. .._~.~.:.~_.:. ... _ ..:.~.:. _.....:. ~ . ..: q, ~~ ~ _~ ... . .,._ ..~ :~ -..: .~.:. ..,.~.~ VIPs . qq ..: ~..:..: ~..._.. ~.e~.~~,..:. ..:. ~.:._.....:.. qq..: ~.. : ~.~~.:.._~:. .q._. .e: ._e.q..~: ..q~:.:. ~.,_e e.~.| .~:~~ ~.._...: ..,....q: ,_..,..:.~:. ~..:..e:. e.... -e~,...:. ~ ~.._.q, _~.....,_~ ._~:.._. .q._. Suncity , Heng Sheng Group , David Group, Tak Chun, J imei Group, Golden Group, Mega Stars . Golden Dragon ~._ _._.~ ..,..:. ..: q ~ q, ~. ~.. ..:. q :.e ., ._ .e:._e.q..~:..q~: .:.. : .~:..q~:~.. _e.._. ~.q.~:~:q~ e_e.~.~~.:..: ~:.., .:.~.,_e .~:~...e . ~..~...q~ .. ,_..|._.. _~e~....:..: ..: .~.:._.. . . .:.~~ ~ . . . ..: . ._. .... ._~: . .q._. IT & TELECOM 27 December 12-18, 2013 Contd. P z8...(Telenor) Myanmar Business Today www.mmbiztoday.com Ooredoo Announce Sponsorship of Myanmar Football Federation Q uLur-bused LeIecoms hrm Ooredoo has announced that it has become the omcIuI purLner oI LIe Myunmur Football Federation (MFF). Ooredoo revealed last week that it has reached an agreement to sponsor all national teams in Myanmar including mens, womens and youth teams and comes at an important time as the national teams gears up to play in the 27th Southeast Asia Games. Ooredoo recently announced their sponsorship of French giants Paris St Germain (PSG) and revealed that two talented young Myanmar footballers will be invited to attend a coaching session in Dohar led by PSG coaches at the end of the month. We are proud to show our support towards Myanmar Football Federation and Oore- doo is committed to building sports and sportsmanship across the country, said Ross Cormack, CEO of Ooredoo My- anmar. Football brings all the nation together and all walks of life, we have found a great part- nership with MFF, he added. Ooredoo and PSG will also brIng quuIIhed coucIes und training programmes to Myan- mar with an aim to further de- Oliver Slow velop footballers in the country, which is ranked 140th in FIFA rankings. We are very honoured to re- ceive such tremendous support from an international organisa- tion like Ooredoo, said U Zaw Zaw, president of MFF. This support will allow us to be suc- cessful in all MFF development programmes and international games. We hope to receive con- tinuous support from Ooredoo and we wish Ooredoo every suc- cess in launching operations, he added. Ooredoo has taken a key role in the development of sport in Myanmar since being an- nounced as the winner of two international telecommunica- tions licenses in June. The company recently announced ILs omcIuI purLnersIIp wILI the Myanmar Chinelone Fed- eration and Special Olympics Myanmar. Ooreddo also recently hosted ILs hrsL recruILmenL IuIr, wIere it attempted to attract Myanmar nationals for roles including Customer Service, Retail, Sales, Network and IT, Finance and Human Resources. Chris Bannister, COO Ooredoo Myanmar shakes hands with U Zaw Zaw, president of Myanmar Football Federation. O o r e d o o TeIenor CEU ]on Fredrik Baksaas said that TeIenor wiII be ready to start roIIing out its teIecommunications services as soon as the naI aspects of the teIecoms Iaw are naIised. F ile s Telenor Nearly Ready T elenor is ready to begin work on building its t el ecommuni cat i ons operations within the country, Su Su as soon as the government uuLIorILIes compIeLe LIe hnuI negotiations on the telecoms licenses that were handed to Telenor and Ooredoo in June. We are in the midst of get- LIng LIe hnuI LoucIes Lo LIe LeI- ecoms law and the regulations, Jon Fredrik Baksaas, president and CEO of Telenor told Global Telecoms Business. When that is done, hopefully by the end of this year, there will be a roll out period until the launch can take place later in 2014, he added. Slowly emerging from years of military rule, Myanmars telecommunications sector is seen as a key area of growth, both for the countrys own economy and inter- national businesses coming in. According Lo recenL hgures, less than 10 percent of the countrys 60 million population is connected to a mo- bile phone, but that hgure Is expecLed Lo explode once the in- ternational operators roll out their work and make SIM cards more uordubIe. In a country where many workers earn less than $100 a month, a SIM card, even on the black- market, is available for at least $150. This is a country of 55 to 60 million people that really has LIe benehL oI becomIng purL of mobile communications. The deployment of telecoms in Myanmar will probably be as emcIenL us we Iuve ever seen before, Baksaas said. He added that it was impor- tant for all of the countrys population to have access to a mobile phone. The mobile phone is not something for the elite or the rich. The mobile phone is not a luxury item. On the contrary, it is something for everyone. Baksaas raises the possibility that there will be some element of sharing with Ooredoo. The concept of sharing will be wide- ly used, because the country has a lack of basic infrastruc- ture when it comes to energy. Base stations need to be set up, backhaul to be constructed, he said. It is almost the last chance in the world to build a new mobile business in almost untouched market, he said. There arent LIuL muny greenheIds uny more. You can say that Ethiopia is one. And North Korea. Myanmar Summary ~:~:~._.. ~ .~ . e .q.. . , . _~._e.._ Ooredoo ._ ,.~., _e _., .:. .:. .~e .. -~q:. ~ . ~ e~ ~e ~._ ._ e. .:._ e ._~_:.._~:. .q._. _.,.:.. _.,.:~...:..:.. ~. . _., .:~. ... ..:. .~. . . .e~...:.~~~ ..,.: .:. _.......:.q,~~~ ..: ~_.~~.q.~ .q:~q.._~:. Ooredoo . ~ _ ., ._ ~_:. _. . _~ . ._.:~ . . . .~:.~.:.. .~: ~~ ~ ~. .| ~. . .:. ~.,_e .,. :~.q..|._~:.._. .q._. Ooredoo ._ ._~:....~ _....- Paris St Germain (PSG) . ..,.:..:~_.~ ~.q.~ ._~_:._.. _.,.:.. ..,.e.:..~:.~.:...:. .~:. PSG . ,_._..:.. ...: _ ..~._~:....._ ..~. .:.~:. Dohar ~ .:..q:~_ .|~..~.q,~~~ e~..' .:.._e._. ._.:_~:..._. _., .:. .:. .~e .. ~:. ~~ ~_.:. ...q._~~~ .,.:. ~. ..: ~ e ._~: .. Ooredoo . ~:.~.:..:.. ~:.~.:...:..:. ~:. _.....:q:~ ~~~_ .:. .... :.._ e Ooredoo Myanmar . .~.~ Ross Cormack ~ ._.:_~:..._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com 28 IT & TELECOM Myanmar Summary Benis U'Brien (Ieft) and Serge Pun (right) present the BigiceI/Yoma teIecoms bid in Nay Pyi Taw in ]une. That bid was unsuccessfuI, but the consortium has shifted its focus to the leasing of telecommunications towers. O liv e r
S lo w Digicel, Yoma Announce Telecoms Tower Partnership with Ooredoo Shein Thu Aung D igicel and YSH Finance, the latter of which com- prises Yoma Strategic Holdings and First Myanmar Investment (FMI), last week announced that its consortium, entitled Digicel Asian Holdings, has signed an agreement with Qatar-based telecommunica- LIons hrm Ooredoo Lo deveIop, construct and lease telecom- munication towers within the country, as part of Ooredoos plans to bring vast telecommu- nications services to Myanmar. Digicel was one of a dozen international telecommunica- LIons hrms vyIng Ior u LeIecom- munication license in June this year, but lost out to Ooredoo and Telenor of Norway. Keen to remain in Myanmar, wIIcI oers Iuge poLenLIuI in the telecoms industry with an estimated 10 percent of the population having access to mo- bile phones, Digicel has decided to focus on leasing its towers to maintain an active role in a country where it gained success with its aggressive marketing campaign. We are delighted to work with Ooredoo and to help develop a high quality telecom- munications network across the Republic of the Union of Myan- mar, contribute to the growth of the Myanmar economy und benehL Myunmur cILIzens across all of the countrys states, regions and union territories, said Denis OBrien, chairman of Digicel. Serge Pun, chairman of Yoma Strategic and FMI, added, Todays announcement is a sIgnIhcunL sLep In LIe economIc and social development of the Republic of the Union of Myan- mar. We are delighted to play our part in such development and look forward to working closely with the government, authorities, telecommunica- tions operators and other local companies. In our case we are partici- puLIng In LIe IusL greenheId us such, says Baksaas. Then of course its an evolution in many markets, Myanmar included, to be addressed by us in the future. Speaking of the role of the tel- ecoms industry in general, Bak- saas spoke of the tremendous impact it can have on society. Not least, we invest a lot lo- cally and we are in that sense the trusted partner. When we are handling your communi- cations to your friends, your business partners and all your relations. That is a phenomenal asset. From page z;...(Telenoro Myanmar Summary SE Asia IT Market to Grow in 2014: Report Aye Myat T he global IT market has had a tough year in 2013, in part due to lower than expected demand, but a recent report suggests that spending on IT-related products could surge next year. In a report entitled IDC Asia/ PucIhc CT zo1q Top Ten Pre- dictions, by International Data Corporation (IDC), emerging markets will play a key role in driving spending in the region 8.7 percent higher next year. India, Indonesia, Vietnam, Thailand and China are the hve Lop growLI murkeLs Ior IT spending. In terms of the requirement they have in emerging markets, a very high proportion of spending will be on mobile devices, said Sandra NG, DC AsIu PucIhc VIce PresI- dent told CNBV. "We think that when it comes to wearable [technology], Asia will pick up faster than other parts of the world because I think Asians in general are more open to the whole wear- able concept. The second would be online commerce because in emerging markets you don't necessarily have accessibility to retail stores and even if you do, they might not have stocks for the latest products," she said. IDC predicts that by 2015 the increasingly frequent ap- plication of technology to meet business demands will heighten the risk of project failure to 'unacceptable levels'. "We believe that more and more organizations will be deploying multi-dimensional technologies what we call 'mashups', which is really a combination of cloud, analytics, mobile, social all a combina- tion. This is a lot more complex than just deploying mobility, or just deploying cloud as a stand- alone technology area. Secondly it's the pace of change which Is dehnILeIy ucceIeruLIng, und AsIuJPucIhc Is dehnILeIy LIe most competitive market in the world. These two factors come into play and the risk factor of problems and security breaches increases," Sandra said. Myanmar Summary Yoma Strategic Holdings , First Myanmar Investment (FMI) . Digicel ....| .e ._ .:.._ ~~:.._~._e.._ Digicel Asian Holdings ._ ~:~:~._..~ .~ . e .q. . . ,. _~ . _ e. ._ Ooredoo . .~ . e .q.~:~|.:. ~:. ....| ...: q ~ . . q: ..:~_.~~..~:. .~.~ .q...._~:. .q._. Ooredoo ~.,_e _.,.:.~ .~ . e .q.~, ..: . .:.~ .... :. ._ _e. _. . e. ..:~ .~ . ~ .q. . .._ Ooredoo - ~.~..:.. ~. . ~ ~. . .. _e. ._~: .._ . . q ._. _., .:. ~ .~ . e .q.~_ e_e.~.~~.:..q,~~~ ~_._ _._.q:.~.e.q..~:..q~: _~..:.~:. ~.|..'e._.. Digicel ._ ._ . ~ .|..:~ :.. _. . ._....:._. ~,.~ ..... ..:.~ . e .q.. . ~:. Ooredoo . Telenor ~. qq.~: Digicel . ...:.q._. .~ . e .q..~: ..q~:_ ~ ..:. ~.,_e _., .:.~.e.q....~~ ~ q..._...q,~~~ ..q_~_.. ...q- ~~ q:..,.,..|...:~ .: . .e , .~. ._.. ...._ _.,.:.~.e.q....~~.: ,.~ ~~~ ~.~....~:..:..:qq ...._ ...~~~..~_e. ,_. _~._. Digicel . _.,.:.~ .~ . e .q. ~:~| .:. ~:. ~ :. ~,..:..:.~ ~.~~:,.~ .. ..:.:.q, .._e~.._. ~.:...q: ~~...~~~., _e ~~, ...~ .~._~..~.. ..:~._.~.,~. q. ~ q . . q_. . ..:.,.:.._~ ~....: ~e . ~:.._~: ._._e. ._~:. . q ._. ...:._. ._~:....~ ~ _.,...: ..~...:.~q ~~. .~..._ ~~,.:. ~ee... .._ .:._..~ _.~~.: ..._e e..._~:. .q._. International Data Corporation (IDC). _......: IDC Asia/ Pacifc ICT 2014 Top Ten Predictions e ~._ q ..: .. ~. . ~q e_e.....~~.:.~.,_e .: ._..~ ~~~~,.:. ~ee .... . q:..,. .._..:..: .q.~~~ ~.~~..:~.,.~_ ~ .|~.,._~:. .q._. ~.e ~.,.q:. -e~,. . .. ~,~.~._ ~~~ ~,.:.~~~ .~,....~~.:. . _e. _. . e _e.....~ ~ .:.~ ~ ~ ~ ~ , .:. ~. .,._~:..q._. 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Telenor . .~.~_e.._ J on Fredrik Baksaas ~ Global Telecoms Business . ._.:_~:.. ._. ~. .| ._ .. .._ .~. ..:.~:. e. . . ~ , ~ ~_. ..~ ..: q ~ . ._e ..:.,.:.._~:.._. ,. ~ ._.:_~:..._...~..q~.... . .,._.:~_.. ..~.q....._~:. ..'. .q:~q.:..: _.,.:. ~ .~ . e .q.~_. : e _e .~ .~~ . ~~ ~ ~.q..|..:~., .~_~. . _e.._..- ... :..q.. ~_._ _._.q:..,..:. _.,.:.~ ~ .q:~ ..: q ~ . q, ~~ ~ .~ . e .q.~_. : ~.q..|.,._ . ~.~~.~.:.~q _.,.:... .q .,.._.:~.e~ ~~ q:. .,..~:~.: ..e,.~.._.._.. e.~.| ~_.__._.q:.~:..q ~:_~..:. .~.e.q...,..:. ~ ~.q:~.:._~~~ .. e,.~.._...:._. ~.~~.:q, ..:.,.:._.. ..~~~,e..:..: ._ .. . .~ .:.:. ._~: .. q ._. ~... ~..q~,..'.: ~~~ .~:~.:qq._ _.,.:. ~ ..:....~~~ ..~~ ....,..: ~,_... ~..q~, ..'.: ~~ ~ q.,._. AUTOMOBILE 29 December 12-18, 2013 Myanmar Summary From page 6...(\ork Lthic) Myanmar Business Today www.mmbiztoday.com who previously worked at GM and Honda Motor. GMs Steve Kim noted that economic power shifts mean the next wave of designers is likely to emerge from China and Southeast Asia. Tr ai lblazer A trailblazer for todays Korean design talent was John Chun, a Korean War veteran who in the late-1960s designed Shelby Cobras, tricked-out per- formance variants of the Ford Mustang. Chun, who was also a consultant to Hyundai and worked for Tonka Toys, died in July, aged 84. A couple of decades later, Art Centers Lim and Bentleys Lee came of age, paving the way for the current generation of Korean designers, though Ban- gle, the ex-BMW design chief, said the world is still waiting for Korea to produce the likes of Japans Ken Okuyama, who designed the Ferrari Enzo, and Shiro Nakamura, Nissan Mo- tors chief designer. Beyond an innate design talent, Koreans success owes much to the nations famed work ethic and tenacity, said Bangle, recalling how Jay Jongwon Kim, an industrial design student, turned up un- announced at BMWs Munich studio one day in 2006. With no appointment, Kim paid his own way to Germany armed only with the address of BMWs headquarters, a portfo- lio of designs and a hunger to succeed. Once he had located the design studio, Kim had to beg reluctant receptionists to call a designer whose name he had found on the Internet. The student, who barely spoke English, let alone German, was eventually allowed in and guve LIe hrsL oI IuII u dozen presenLuLIons LIuL duy, hrsL uL the MINI studio and then at the main BMW studio to Bangle and current BMW design chief Adrian Van Hooydonk. Six months later, Kim was back at BMW, this time with an appointment, to present to Bangle a scaled-down model of a design he had shown earlier. He gave a dazzling presenta- tion, complete with lights and musIc, und wus oered un In- ternship on the spot. That led to u IormuI job oer seven monLIs later, which was scuppered by LIe zoo8 gIobuI hnuncIuI crIsIs. Undeterred, Kim secured a position at Mercedes-Benzs studio in Yokohama, and later moved to GMs Opel, where his work on the Monza concept hints at the design language for Opels next generation of cars. Cadi llacs par k A key member of GMs Kore- un muhu In MIcIIgun Is CIrIs- tine Park, who was lead interior designer for the Cadillac XTS full-size sedan launched last year to help revive the storied brand. Park, now Cadillacs lead ex- terior designer, says the success Models unveil a concept car at an auto show. T o r u
H a n a i/ R e u t e r s G erman car giant Merce- dez-Benz opened ILs hrsL showroom in Myanmar on November 29. Mercedes-Benz Showroom Opens Kyaw Min Located in Yangons Ma- yangone township, the new showroom will exhibit the 2014 Mercedes-Benz S-Class and will om cIuIIy open Ior servIcIng oI Mercedes cars in 2014. Om cIuI ImporLed cur spure parts and servicing will be oered by Germun-LruIned technicians at the showrooms workshop. We appreciate having the opporLunILy Lo om cIuIIy seII new Mercedes-Benz cars and spare parts as well as the servic- ing of cars in Myanmar, said Wolfgang Huppenbauer, CEO of Daimler Southeast Asia, who will distribute Mercedes-Benz cars. Now, purchasers of Mer- cedes-Benz cars can overcome uncerLuInLy und dIssuLIshed service, he added. Myanmars auto market has seen huge potential in recent years. Under the countrys military rulers, car import taxes were so expensive that very few citizens were able to own cars. However, the quasi-civilian government that came to power in 2011 has made cars available at a much more reasonable price. K y a w
M in of her compatriots coincides with the rise of Koreas fashion and architectural industries as the economy has prospered. She says her parents and grand- parents are part of Koreas lost generation for whom life was a tough slog through Japanese occupation, World War II and the Korean War. They had to worry about whether they had enough to eat day to day, said the Korea native who was educated in California. Parents wanted their children to become law- yers, doctors or engineers, she added. Now, art is very much celebrated, making car design a more desirable career choice. Bentleys Lee said Koreans are also playing catch-up with developed car markets as they lacked a car culture. The 44-year-old said that, unlike some of his peers today, his family did not have a big garage full of hot-rod cars. Similarly, Kim at Opel, the son of a rice miller, said he rarely saw cars on the streets of Buan when he was growing up. From the age of 12, Lee at- tended art cram school in the evenings in Seoul, determined to gain entry to Hongik Uni- versity, a leading art school. He went on to study sculpture at Hongik and then car design at Art Center, before joining GM in 1999 after a stint at Porsche and Pininfarina, an independ- ent Italian design studio. We dont have a strong au- tomotive tradition in Korea, so most of us are very hungry and willing to work hard to gain the knowledge and expertise in car design, Lee said. That makes us exIbIe und versuLIIe. The biggest challenge for Ko- rean designers now is consist- ency, movIng Irom one-o IILs to developing a lasting legacy LIuL Is LIe dehnILIon oI good designers, Patrick le Quement, Renaults design chief who retired in 2009 after 22 years, said in an email exchange. Design is like F1 racing, its good to win a race, but it doesnt mean youll become world champion. There are drivers who made a habit of winning and those that won occasionally, for lack of talent, concentration and dedication. Im very impressed by the overall quality of young Korean designers. Consistency is the sign of real talent. Reuters From page ;...(\ork Lthic) Mercedes-Benz Showroom (Phase 1) ~ .~: q~~ q,~,_. ~ .~e...._~:. .q._. ~..| Showroom ~ ~.~ ~ _._ ... .q. .~ , ._. ,e q, ~ , ~ e ..:._.. e.~ .,:~.. ..' ~~, ~ Mercedes-Benz S-Class ~.. ~:. . .~ ._... :. .__e. _. . _., .:. q _._ . .:.~., _e ~~, ...~..:..~ e.. ._ Main Showroom .~. ~:..:.~ ~q:.~~ee._.. ~, ..: . .:..| qq . ._ _e. ._~: . .q._. _., .:. q Mercedes-Benz ~e e ..~ _~.~.,q~ ~,..:.. ....: ..qq:_...~ ~.~~..:. ~ .~: . :.. _.. ~q_ ~..._._ . ~ Mercedes-Benz ~:....:. ~:.~..._..:., ~,..:..:.~ _.,.:.. ~q:.~.q:...qq ..~~~~ ~~... ~...: .~ ,. . .| ._ . e., e . . . ~ Mercedes-Benz Showroom(Phase1) . ~, .~: ~ .q:.~:.~q_ ~... , ~,..:..:.~ .qq_~_~ .~: .~ .~ . . ..: . :.e q_qe.|~e''. Daimler South East Asia Pte Ltd . CEO Mr. Wolfgang Huppenbauer ~ ._.: _~:..._. _.,.:..:q~ Mercedes ... ~:..... .:.~.,_ e ~.q .~: ~:q . .:.. ~e e . .:.. ~. , ~.._.._ S-Class~..~~ee. . . ._ _e. .|~e . ''e..~:.. .~:. _e_.~._.:_~:.. :.._. Models pose next to the Mercedes-Benz S-Class, which will be available at the companys Yangon showroom. .,. : ..~._~:.:... ._. ..._.~..~._. .~,:_~..: . .:._e.._~:. BMW . e. . ~ .. .. q:~_~ .~~ _ e. ._ Chris Bangle ~ ._.:_~:..._. ~ .e:~. ~ .e:~~q.,..: Art Center q ._~:..q.~.,. ~..,.~ ~~~.~:.: ~:q. _e. _~_. . ~. .|~ ~~ ~ ~ q.e:. ..:..:.. : ~~~,..|..|~., ._~:. .q._. GM - ~.:...q: ~... ~_. ~_~ .~~ _e. . . ~, ~ e ,. - ~__e...: Tim Lee ~ ~.:~:.~.~~..~.:...: e. ~.| ~q_ ~.. .. .. ,_.._:. . ~ ~ :_.:...q.~: ~_.:. ._~:. .~_~_.:._.:.,:..~ ..: .~: ~:.. ~ .. _e. ..._~: . ._.: _ ~:..._. December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com CLASSIFIEDS 30 SOCIAL SCENES 31 December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com Anup Kumar Chakma, ambassador of Bangladesh to Myanmar, hands over a prize at the Bangladesh Festival 2013 in Yangon. Bangladesh Embassy U Myint Swe, chief minister for Yangon region (2 nd R), Anup Kumar Chakma (2 nd L), ambassador of Bangladesh to Myanmar, and Rezina Ahmed (3rd L), minister and deputy chief of mission, Bangladesh Embassy in Myanmar, inaugurates the Bangladesh Festival 2013. Bangladesh Embassy U Myint Swe, chief minister for Yangon region, visits stalls with Anup Kumar Chakma (L), ambassador of Bangladesh to Myanmar, and Rezina Ahmed (R), minister and deputy chief of mission, Bangladesh Embassy in Myanmar. Bangladesh Embassy Anup Kumar Chakma (2 nd L), ambassador of Bangladesh to Myanmar, and Rezina Ahmed (3rd L), minister and deputy chief of mission, Bangladesh Embassy in Myanmar, pose for a group photo. Bangladesh Embassy Fahmid Bhuiya (L), Pact Global Microfnances chief operating ofcer, watches a cul- tural show with delegates at the event. Bangladesh Embassy Children perfom traditional Bangladeshi dance. Bangladesh Embassy A traditional Bangladeshi dance perfomance. Bangladesh Embassy A musical show at the event. Bangladesh Embassy Children at a fashion show at the event. Bangladesh Embassy Wolfgang Huppenbauer, chief executive ofcer, Daimler Southeast Asia speaks on stage. Kyaw Min U Htay Aung, chairman of Sakura Co Ltd (right) poses with a guest. Kyaw Min Alex Newbigging, group managing director of Jardine Cycle & Carriage Ltd. Kyaw Min Models pose with the Mercedes-Benz 2014 S-Class. Kyaw Min Te brand-new Mercedes-Benz 2014 S-Class. Kyaw Min Bangladesh Festival 2013 Opening of Mercedes-Benz Showroom in Yangon Ooredoo Sponsorship of Myanmar Chinlone Federation Chris Bannister, chief operations ofcer, Ooredoo Myanmar speaks at the event. Ooredoo Elaine Kelly, Ooredoo employee poses for a photo. Ooredoo A Chinlone player showcases his skills at the event. Ooredoo Wolfgang Huppenbauer, chief executive ofcer, Daimler Southeast Asia speaks on stage. Kyaw Min December 12-18, 2013 Myanmar Business Today www.mmbiztoday.com 32 ENTERTAINMENT 30 Days in Myanmar: A Book to Showcase Myanmar E arlier this year, 30 in- ternationally-acclaimed photographers descend- ed onto Myanmars shores for 7 days of shooting around the country. From the Tanintharyi region of the south, to the mountain- ous Kachin State, and dozens of places inbetween, the cameramen and women from 11 countries around the world clicked and documented life in the country as it emerges from decades of oppression and military rule and begins to open itself up to the world. The result of their endeavours Oliver Slow has been captured in the book 7 Days in Myanmar, a 276- puge Iurdbuck coee-LubIe book which was the brainchild The books front cover. E D M
B o o k s of Singapore-based publisher Didier Millet. Speaking at a ceremony to om cIuIIy IuuncI LIe pubIIcuLIon of the book, which was hosted at Yangons Chatrium Hotel on Shwedagon at twilight by Athit Perawongmetha. E D M
B o o k s December 2, Minister for Tour- ism U Htay Aung said that the book can help enhance the pro- motion of Myanmar as a tourist destination as it continues to be one of the worlds most popular destinations. Of the 30 photographers, 21 were established photogra- phers from countries around the world including the United States, France and the United Kingdom, while nine were up-and-coming photographers from within Myanmar. Those included Reuters photographer Soe Zeya Tun and a host of oth- Commuters on a train at night by Giles Sabrie. er local photographers whose works are now being recognised IurLIer uheId. The book also includes text to explain many traditions and aspects of life in the country, with an introduction written by Dr Thant Myint-U, an introduc- tion to Myanmar by Associated Press journalist Denis Gray, a 19 th century photography essay Travelers pass the Goteik Viaduct in Shan State by Kyaw Kyaw Winn. E D M
B o o k s E D M
B o o k s in colonial Burma by British Li- brary historian John Falconer, captions by historian Dr Thaw Kaung and journalist Patrick Winn, and an essay on the making of the book by editor Nicholas Grossman. The book is being marketed as a multi-media tool, and also includes a 47-minute DVD covering the behind-the-scene process of making the book, a photo exhibition which is cur- rently taking place at Chatrium Hotel, but will soon move to the Myanmar Deitta gallery on Parami Road.