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SMEs in Myanmar are severely hampered by u deurLI oI hnuncIng, u problem the IFC program seeks to uddress. Ue bunks cun do Iong-term loans with proper collateral, ue official says. Tie bunks also need to have very good assets to allow them to lend.
SMEs in Myanmar are severely hampered by u deurLI oI hnuncIng, u problem the IFC program seeks to uddress. Ue bunks cun do Iong-term loans with proper collateral, ue official says. Tie bunks also need to have very good assets to allow them to lend.
SMEs in Myanmar are severely hampered by u deurLI oI hnuncIng, u problem the IFC program seeks to uddress. Ue bunks cun do Iong-term loans with proper collateral, ue official says. Tie bunks also need to have very good assets to allow them to lend.
mmbiztoday.com mmbiztoday.com September 25-October 1, 2014 | Vol 2, Issue 38 MYANMARS FIRST BILINGUAL BUSINESS JOURNAL Myanmar Summary Myanmar Summary Contd. P 4...(IFC) Contd. P 4...(IFC) Contd. P 4...(Online Licence) Contd. P 4...(Online Licence) Inside MBT IIC to Lend Yomu Bunk $gm to Bolster Locul SMIs Feasibility of SME loans still murky Morley J Weston T Ie WorId Bunk`s private sector lend- ing arm, Interna- tional Finance Corpora- LIon (C), Ius upproved a loan of $5 million to Yomu Bunk Lo LesL LIe waters for a possible $30 million deal in the coming years. The move aims to help Yomu buIId hnuncIuI mechanisms for extend- ing loans to SMEs, as well us buIIdIng u core bunk- Ing sysLem, enIunce rIsk management and cor- porate governance, and develop new products and delivery channels for SMEs, IFC said. SMEs in Myanmar are severely hampered by u deurLI oI hnuncIng, u problem the IFC program seeks Lo uddress. How- ever, hnuncIuI Iuws Iuve not yet caught up with the growing economy. As LIe cenLruI bunk, we are not really restricting LIe bunks Lo muke projecL hnuncIng, IL`s jusL LIuL LIe infrastructures are not yet LIere . ProjecL hnuncIng is usually long term, and order to have longer term lending, you need to have very good assets to al- low them to lend, U Set Aung, deputy governor of LIe CenLruI Bunk oI My- anmar, said. TIe bunks cun do Iong- er-term loans with proper management. Because necessury hnuncIuI mur- keLs und hnuncIuI InsLru- ments are not ready, this is not technically possible. He added that the Cen- LruI bunk Is workIng Lo create the necessary mar- keLs Lo Increuse IendIng. Online Licence System to Go Live in Three Months Phyo Thu A n online system to process applica- tions for export- import licences will be fully installed within the next three months, a min- ister said. We ure prepurIng LIe e- licence system, which will allow online application without the need to come Lo LIe om ce. We Iuve uIso received approval from Myanmar Investment CommIssIon (MC), Dr Pwint San, deputy min- ister for commerce, said at a Myanmar Garment Manufacturers Associa- LIon (MGMA) conIerence. Currently, the ministrys website only provides in- formation for the licence application process and applicants have to apply for licence at government om ces In Yungon or Nuy Pyi Taw. E-licence application process is being carried out in parallel with the implementation of the NuLIonuI SIngIe WIndow .~,..~,.q:~,.e .q.. . Ful l y Onl i ne Automatic System _e. .:. .q.~ .:._ . ..~~ . .~ . :.._ _e. ._~: . . .. :..q.. ~. : ~ -. .. .....q. ..~..,.._e...: . ~~:. ._ ~..~: . .q.q . (IFC) ._ ,..~ .... ..'.:|..,.~......q, ~~_ _ . . ~ _ . . .:._ . . .:.~ ..'.: .,. ,~ ~ ~......q,~~~ ..... ..:q~_..._._e.._~:. .q._. . ~......_.._e ,.. ~ ~.,_ e ~....:.. Karin FinkeIston, IFC`s Vice President for Asia Pacic, and Yoma Bank Executive Chairman and CEU U Theim Wai, aIso known as Serge Pun, sign the ceremoniaI certicates, with U Set Aung, deputy gover- nor, CentraI Bank of Myanmar, Iooking on. Y o m a
B a n k uIhIIIng Myunmur SMEs` Ur- genL InuncIng Needs P-8 Myanmar in The Midst of Tourism Boom P-21 BesL WesLern SIgns DeuI Lo Open First Mandalay Hotel P-23 September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 2 LOCAL BIZ MYANMARS FIRST BILINGUAL BUSINESS JOURNAL Board of Editors Editor-in-Chief - Sherpa Hossainy Email - editor@mmbiztoday.com Deputy Editor - Aundrea Montao Email - aundrea.montano@gmail.com Editor-in-Charge - Wai Linn Kyaw Email - linnkhant18@gmail.com Ph - 09 40 157 9090 Regional & International Editor Morley J Weston Reporters & Contributors Kyaw Min, Wai Linn Kyaw, Htun Htun Minn, May Soe San, Tin Mg Oo, Aye Myat, Aung Phyo, Zwe Wai, Phyo Thu, David Mayes, Aundrea Montao, Morley J Weston Art & Design Zarni Min Naing (Circle) Email - zarni.circle@gmail.com Ko Naing Email - nzlinn.13@gmail.com DTP May Su Hlaing Translators Aye Chan Wynn, Wai Linn Kyaw, Phyu Maung Advertising Seint Seint Aye, Moe Hsann Pann, Htet Wai Yan, Zin Wai Oo, Nay Lin Htike Advertising Hotline - 09 420 237 625, 09 4211 567 05, 09 31 450 345, 09 250 411 911, 09 2500 18646 Email - sales.mbtweekly@gmail.com Managing Director Prasert Lekavanichkajorn pkajorn@hotmail.com 09421149720 Publisher U Myo Oo (04622) No. 1A-3, Myintha 11 th Street, South Okkalapa Township, Yangon. Tel: 951-85000 86, 8500 763 Fax: 951-8603288 ext: 007 Shwe Naing Ngan Printing (04193) Printing Subscription & Circulation Aung Khin Sint - aksint2008@gmail.com 09 20 435 59 Nilar Myint - manilarmyint76@gmail.com 09 4210 855 11 Khaing Zaw Hnin - snowkz34@gmail.com 09 4211 30133 Bosiness News in BrieI Bor der tr ade wi th Chi na exceeds $2 Bi lli on Border Lrudes wILI CIInu In LIe hrsL hve monLIs dur- Ing LIe hscuI yeur LIuL sLurLed on AprII 1 exceeded $z.1 billion, about 87 percent of total border trades with the remaining four neighbours during the same period that sLood uL $z.qq bIIIIon, om cIuI duLu sIows. Locol oirlines mull Chiong Moi ights Two privately-owned local airlines Shwe Myanmar AIrIInes und AIr KBZ - uIm Lo sLurL servIces Irom Yun- gon Lo CIIung MuI In NorLI TIuIIund over LIe nexL Lwo months. The two airlines claim travel demand between the two cities would justify the new services, local me- dia reports. CNC price to douhle eectioe Octoher 1 TIe prIce oI Compressed NuLuruI Gus (CNG), muInIy used for taxis in Myanmar, will be increased by 100 percent starting October 1, local media reported, citing Energy MInIsLry sources. CNG prIce wIII be ruIsed Lo Kq6.o (6 cenLs) per kg Irom Kz;.zq, buL sLIII mucI Iess LIun LIe CNG prIces In some neIgIbourIng coun- LrIes, LIe om cIuIs suId. Mgonmor, Luxemhourg prms to conduct on- shor e oi l explor ati on Myanmars state oil and gas enterprise will jointly conduct inland crude oil exploration in the country with u uxembourg compuny on producLIon sIurIng busIs, it announced. Under the deal signed between the My- unmur OII und Gus EnLerprIse (MOGE), CAOG SurI oI uxembourg und IocuI Apex Geo ServIces Co Ld In Nuy Pyi Taw, the oil exploration will be carried out in Myin- tha, Ayeyawaddy region. Bongkok Airuogs to g tuo neu Mgonmor r outes TIuI bouLIque uIrIIne Bungkok AIrwuys wIII IuuncI Chiang Mai-based ATR 72 services to Yangon and Man- dalay in late October. From October 26, Mandalay will InILIuIIy be served wILI LIree-weekIy IgILs und Yungon with four. According to the Centre for Aviation, Bang- kok AIrwuys currenLIy oers uImosL 11,ooo weekIy seuLs Lo und Irom Myunmur, mukIng IL LIe IurgesL uIrIIne In Myunmur`s InLernuLIonuI murkeL wILI ubouL 1o percenL share of total seat capacity. TIe uIrIIne expecLs Lo Iuve ubouL 1,ooo-weekIy seuLs Ior Myunmur In November. StanChar t to help Myanmar SMEs UK-bused SLundurd CIurLered recenLIy kIcked o u hnuncIuI educuLIon progrum Ior smuII und medIum enterprises in Myanmar in a bid to help enhance the hnuncIuI und busIness knowIedge oI IocuI SMEs und help them manage the growth of their companies. The program, Education for Entrepreneurs, was developed by Standard Chartered in collaboration with Pricewa- terhouseCoopers and the British Council Myanmar. The trainees will then begin delivering the educa- tion sessions to local entrepreneurs in October. About 300 small businesses from Mandalay, Mawlyamyine, TuunggyI, und Monywu wIII receIve LruInIng In LIe hrsL phase this year. 1mports up shorplg in 1Yzo1q-1g Myanmar imported $7.1 billion worth of goods in the hrsL sIx monLIs (AprII-SepLember) oI LIe currenL hscuI year 2014-15, rising sharply by 2.3 billion, or 48 per- cent, from $4.8 billion in the same period of the previ- ous hscuI yeur, om cIuI duLu sIows. OI LIe LoLuI, $6 bII- lion worth o commodities were imported through sea route while more than $800 million through border trade. Coo't plons to creote q.qm johs for migront wor ker s The government plans to create millions of jobs to druw buck LIe q.q mIIIIon mIgrunLs now workIng In Thailand and Malaysia, a deputy minister said. Deputy MInIsLer Ior Home AuIrs BrIg-Gen Kyuw Zun MyInL told the Parliament that jobs would be created in local ureus Ior mIgrunL workers. He suId LIuL z mIIIIon My- unmur peopIe ure workIng In TIuIIund und z.q mIIIIon are in Malaysia. Myanmar Summary ~,~..,e..~,.e..qq._~.._ e._: .q... ...|...~~:.~~. ~..q~,..'.: ... .e~ .~:.,.._~:. .q._. _._~...~..._~:......_e.._ Air KBZ . .q_.,.:..._~:...~._ .. .... .:._ ...~~. ..,..q, ...:..,._~:. .q._. _.,.:.~ .q.._~~:.e:.:.~ ~.:...~.._. .~q._ .:~.:~.....,..:.~ .:._.~:~~:. ~.q~.,..~_ ~~~ q:..,.~._..~:~..:.._e .q ._. _., .: .q, . .:~.:~ . . . , .._ . ~ ~ . . ~ . ~ .:......|._~,.~..q,..:~.:~.q:.e~..e:.q. ..,..:.~ ..~..~.:.._e .q._. ...._~: .. . , .~:~ ~ e:..~.._ q, ~ , . .. ..._. .:.. , .~ -.q .. .. . . . ~ .~:~ ~ :..,:~ . .~ ._... .:.q, ...,._e .q._. _-~,~._..~ Standard Charter ~..,.._ _.,.: . -~....:.. ~.~ .:.. . , ..:.. _:.q.. q: ._:....~.~..:.~ _....:.._e .q._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 3 Myanmar Summary Contd. P 4...(Fish Market) Contd. P 4...(Fish Market) LOCAL BIZ Int'l Stundurd Wholesule Iish Murket to be Set Up in Yangon Tin Mg Oo M yanmar Fish- ery Federa- LIon (M) announced that a new international standard wIoIesuIe hsI murkeL is to be built in Twante township in response to a directive from the presi- dent. A team, led by Minister Ior CooperuLIves U Kyuw Sun, Ius conducLed heId assessments for the con- struction of the new mar- keL, buL u IocuLIon und project timeframe have yeL Lo be reveuIed, U WIn KyuIng, secreLury oI M, said. Our federation agrees with the plan to construct a new international stand- urd hsI murkeL. However, we do noL know LIe deLuIIs of the plan being overseen by the Ministry of Coop- eratives, he added. n Muy, u new hsI mur- keL numed SIwe Pu- duuk opened neur LIe wIoIesuIe hsI murkeL In KyeemyInduIng Lown- sIIp. SIwe Puduuk mur- keL Ius qoo sLuIIs wILI LIe dimensions of 18 feet by 11 feet wide, 270 of which have been already been sold. However, only one seller is currently running busi- ness, suId U TIun wIn, chair of MFF. There were 10 sellers just after the opening, but due to a low-level of customers and earnings, only one is left. Many sell- ers are still doing busi- ness at other cramped spaces instead of the wide .~~:~.. .~~:. |......~..~:. ..~: ..~-...,._e ~.~. _.,e~~. ~_..:~q, . . ..: q ~ .~ q .,._~: . .~ ~ : q~ ., _., .:. |.. . , .~e . . _ _ . . . ._~._.~.~.. .q._. ~. .||... ... _ ~ .~_ ..:~ . q, ..~|e._ ._ .: . ~, _ ~ . ..~ : ., .. ...:_ ._._.~..... .:. . . _ ~ . ~ _ . . . . _ . . ~ .~. _ . ,e ~~ . ~_ ..:~ ._ .,q:. ~_ ..:~ _ . . . . ._ ~. , ~ ~.... ~ .. q q...._~: . _., .:. |.. . , .~e .. ~~ ..q.. . .~ ._ ~ ~ ._.:._. ~. . . ~~:~. . |... ... _ ~ .~_ ..:~ e ..~:~ ~,.~:~|... , .~e .. ~.,, ..:~ .~..|~e. ..~|e.~,_~. _:,~ ~. ~~:~, e _ . ._.. . ~:..~: ~....~~ .. .''e ,.~ ._.:._..~q ~.,~ -e._.|....~,. .q..~:~|......_~.~.. U A u n g / X in h u a September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com LOCAL BIZ 4 From page ...(IFC) From page ...(Online Licence) From page ...(Fish Market) From page ...(Fish Market) From page ...(Online Licence) LoIthunsu Ixpunds Ticket Sules in Myunmur Ties up with three local travel agencies Morley J Weston G ermun ug cur- rIer DeuLscIe uI- thansa AG has authorised a group of LIckeL ugenLs Lo seII LIck- ets within Myanmar to muke IL eusIer Ior cusLom- ers Lo book IgILs Lo Eu- rope, typically connecting LIrougI Bungkok. Following the move, LIckeLs cun now be pur- chased not only by indi- vidual travelers but also by smaller travel agencies In LIe suIes omces oI Co- Iumbus TruveIs uILIunsu CILy CenLer, uILIunsu`s global franchise travel agency partner, Sun Far Travels and Tours and Myanmar Aviation Cent- er. This is expected to help uILIunsu compeLe wILI seven Myanmar-based airlines, as well growing competition from outside airlines. Potential cus- tomers are also expected to sruge with anticipation of Myanmars emerging middle class and the con- tinued growth of tourism in the country. n-counLry LIckeL suIes wIII IeIp uILIunsu so- lidify statistics regarding its customers, Europes IurgesL currIer suId. DIrk Grossmun, uILIunsu general manager for pas- senger sales in Thailand und LIe Mekong regIon, told Myanmar Business Today, The Myanmar Myanmar Summary Yomu Bunk ExecuLIve Chairman and CEO Serge Pun said that this would not be an issue, noting severuI workurounds Lo LIe exIsLIng hnuncIuI Iuws. If we feel comfortable that your business is a viable one, that will have cusI ow LIuL Is cupubIe oI repaying the loan within a certain reasonable period of time, we want to lend to you even if your collateral Is InsumcIenL. WIuL we Iuve been do- ing to convince the central bunk wIen we ure u bIL seemingly above what is safe is our internal issue wILI LIe cenLruI bunk, Pun said. If a business could not provIde sumcIenL coIIuL- eral for a new construc- tion, a smaller loan will be given to allow construc- tion to begin, and the property continually reas- sessed and equity reeval- uated, he added. Pun said that this sys- tem would help support SMEs as long as proper oversight was followed, and it was ensured that the loan money went into LIe specIhed busIness with a solid business plan. IFCs investment and advisory support is ex- pected to help Yoma pro- vide an additional 1,000 loans worth $370 million to small and medium en- terprises in Myanmar by 2019, the lender said. IFC puts a strategic fo- cus on supporting the de- velopment of Myanmars hnuncIuI und bunkIng secLor us bunks ure crILI- cally important in helping entrepreneurs grow their businesses and contribute to the overall economy, suId KurIn InkeIsLon, IFCs Vice President for AsIu PucIhc. However, representa- tives of both the IFC and Yomu Bunk were cureIuI to stress that this is not a handout, and that the loans were to be given on purely commercial terms. (NSW) sysLem, wIIcI Is due Lo be hnuIIsed by zo1 as per the agreements to esLubIIsI u sIngIe murkeL LIrougIouL LIe ASEAN region. The Ministry of Com- merce is also issuing In- dividual Trading Cards (TC) uL border LrudIng posts allowing individual Lruders Lo omcIuIIy ex- port a move expected to contribute to an increase In exporLs, U WIn MyInL, union minister for Com- merce, said, adding that LIe governmenL Is work- portion of citizens is very dImcuIL Lo esLImuLe be- cuuse unLII Lwo weeks ugo, we were seIIIng LIck- ets in Myanmar mainly vIu Bungkok. The Myanmar travel agents could do it here, but they did it via a Bang- kok ugency. TIuL meuns that all the sales out of Myanmar appeared in the statistics as sales out of Bungkok. Myanmars cash-based socIeLy uIso mukes cus- Lomers dImcuIL Lo Lruck. NeurIy 1oo percenL ure In cusI. Some bunks are introducing a credit card system, so it will be launched very soon, Hien Thant, director of Sun Far Travels and Tours, one of the agents permitted Lo seII uILIunsu LIckeLs, told Myanmar Business Today. AILIougI uILIunsu oI- hcIuIs decIIned Lo com- ment on the opening of new routes through My- anmar, Grossman said that airports in Myanmar were mostly satisfactory, and could handle most large jets. and clean space provided here, he said. According to MFF, My- unmur`s hsI exporL eurns $600 to 650 million per annum, while neighbour- ing Thailand and Vietnam ure exporLIng hsI prod- ucts worth up to $7 billion every year. Also, Myanmar needs to adapt to internationally uccepLed prucLIces In hsI- Ing, sLorIng hsI sLocks, loading and unloading as weII us LukIng sLerIIIsu- tion measures in prepa- ruLIon Ior murkeL expun- sion when the upcoming ASEAN EconomIc Com- munILy (AEC) comes InLo eecL In zo1. ing to stimulate value- added production. ocuI Lruders suy LIey welcome a fully function- al online export-import li- cence application system. WIIIe LIe process Ior Is- suing licences is fast, a good inspection and value evuIuuLIon process Lukes u long time, they said. From page ...(IFC) The government has chosen Twante township as the destination for the new hsI murkeL becuuse of its easy access to trans- porLuLIon neLworks over both land and sea. ~ .., ..q: .~e .q.~, _ ~ . _:, .~e~,_~. ..|~~: . ., .~~_ .. . . , .q .:.~. .- .~ ~ : q~ . ~ e~_ ~ . ~. ..:.. _ ~._.~.~.~ ._.:_~:.. ._ . .~ q ~ . ~ , . .~ , . . ~~ ~ . .. :..q.. ~ .., . .q:.~e.q.~,_~._:,~~ . ~ ~ ~ .q:~ .. .:. _. . . . ~~ ~ _:,~ .:.q:~ ~_..,...._. ,.~.:.q:.. ~,.. ~.,. ..~~~ ..: q~..~:...:_e._...~: MIC ._..~q_.. ..,. .~.: ..:q~.:..:_e..| ~e . e-license ~~ ~ .~ q .:_...,.|~e''e e.~ ._.:._. ~ ~q.e:.,_.._:_e . ~~:~. . ~_ ..:~ _ ~~, ... ...~ .~ e . . . _. ._e. ._ ..q . .~:~ |......_~.~ ~.:. ~ .. ~, ~~ .. ~e~,.._ ..,...|. ,~~ .|q_.. . .,...|. ~ .: .q:... _.._e...:._. .~q~., ~ .q: .. . ~. ..:q ._~:. _.,.:.|...,. ~e . . ~ _ .., .. ~ ~._ .~.~.~ ._.:_~:.._ . .e_...~: ~~ ...:~~ .q: . .,... ~e . .,:~ .~: ~e.e..q. .~~~ ~~~ .,:~..~... ~, .~: ~e . ~ e ~ e ~, .~, . .,.,q.q., ~.~~,. . .q: .. q.e .,q:~ .~: .:..q:... .,q:~.~. .... :. .q: ..,_~~e ''e ,.~ ._.:._. _., .:. - _._ .. |.~ . ._..:~.: ... ~..q ~,..'.: .,. '~~ . '~ _~:.~.:q.,_.. -e~,. ...~-...|.~. .. ..'.:.,..e.,qq .~q.,._~:. _.,.:.|. ..,.~e... .q._. ~.~.:...,..:. (SME) .....:. ~.._.,._ ~ .. ..... q, . ._ ~. .,..:. ~_.:_..,_.~ ~ . . , ..~:, ..,. .:. . ~ . ._ .. . ., . _ . .. . . , ._ ~ ._ ~. . . . . :.. SME .:.~~~ _e_._.. .. .._ ~: .. :..._ ~ ~ ._ . _. ~ _. ..:. ..: q ~ ..__e.._. _.,.:.. SME .:.._ . ._~.~q .~_.. qe . ._. ,_ ..|.. _. .._~: e _e .q, ~~:.~...:. _~.~.,q_.. e._..,:~ IFC ~ ._eq. ...q, _~ ..:..~ q ._ .. q: ~ .._~..q:....:..: e_e..,..: ...:..q..~. ..'..|~ .:_ . ..q ...... -e~~.,_e. ..~,..:. ~ .._~._e_._.._._... .~ .~ _ ~ . :. ~..' ~, .~ :._ . ..q ._ ~: . ~._ .. .,. . ~. . ~ . :. ._ ._ . _ . . .:_ e. ._ ~: . -e ~ . ~ e~ _ ..~ .~: ~ . ._ . . . ~ , .. .. ...._ . .. : .qq _ _ e. _ e .. .. . :.. q, ~. , ..:..:~q.~_...:.qq, .._~:.._. .~e~_~ . ._ . . ~. ..:. ._ ~. ...~~.:.. .._~..q: ,_ ..,. .:. ~. . ._e. _. . ._~: e..: ..:~q:. ~q._e..._~:. ,.~. ~: -e~~.,_e .~. ..:...~~.:.~ e,~._ . .. . :.. .:. ~ .~~ .: ..q, ..:q~.~q._~:. ._. .._. , ..~ ~ _. ~. ..: ~q:q.. .:.,~. e..: _ ..,:.e ~ ._ ~: .. ~: .~q .._~.....:.~ .~ ~ ~ . :.q, ,_ ... .~. :. ~_.:.q ._~: . . ._ .. . , . ~..._ .~.q_.. .~.. ..:~:.~~. ~._~.~ _., ._ ..... . q,. . ._ . ._ ~. ~~ ~ ~ q .| ~ ~..|..._..: ...:~. .q.. .~......q, . ~ ~ .:.._~: .,.~. ._ . :.,- ~_~..:...._~:. .. Deutsche Lufthansa AG._ .~.~.q:..._ ~e.:..e~.~:. _.,.: . ~ ..e: .~ . ~ .q:..q, ._....._.. .q. ._ . :.~.,_ e .q:.. ..e:.~.~.:. _~~ . :e q:~ ~. ._ ...q, ..:q~....:.._. ..e: .~ . ~ . :. ~ .q.._~....:.~ .q. .:...,.~....:..:.~.| ~ .. ~ . .q .. :.. . , . Lufthansa_. . ~: Lufthansa -.~~:..,.~.q..:. ..,..~e~ Sun Far .q. . :.. . , .. _., .:..._~: . .~:~~ ~ee..__e. ._. _. ..: q ~ _ . .._ ~: ._ _., .:~._.. ~ ..._~: . ...,...._e_..:. .__e.._. L u f t h a n s a September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com LOCAL BIZ 5 Myanmar Summary Myanmar Summary Gov't Seeks Purliument Nod Ior $oom World Bunk Loun Aye Myat T he government is seekIng upprovuI from the parlia- ment to secure $200 million in loans from the WorId Bunk Ior IeuILI and valley management projects in Myanmar, Iuwmukers suId. The Health Ministry is planning to launch the Myanmar Essential Health Services Access Project with $100 million international develop- ment aid credit from the WorId Bunk Lo provIde uordubIe IeuILIcure ser- vices to the public. Another $100 million Irom LIe WusIIngLon- based international or- ganisation will be spent on the Ayeyarwaddy Val- ley management project, said Deputy Minister for Transport U Han Sein. n Muy, LIe WorId Bunk granted $80 million for LIe sIx-yeur Myunmur Nu- tional Community Devel- opment project in three townships of Chin and Shan states as well as in Tanintharyi region. An Italian Development Cooperation loan worth 20 million will be spent on infrastructure projects in rural areas, said Depu- Ly MInIsLer Ior IvesLock, Fisheries and Rural De- veIopmenL U TIn Ngwe, while the Ministry of Rail Transportation will re- ceive $45 million from the Economic develop- ment Cooperation Fund oI SouLI Koreu Lo produce and purchase railway car- riages. Americuns Muke Lp the Mujority oI Myunmur I-Visu System Lsers Htun Htun Minn A fter Myanmar launched its E- visa system on September 1, data shows LIuL AmerIcuns muke up the majority of the foreign visitors who have used the system to enter the South- east Asian country so far, a minister said. Americans are now the top visitors from the west, said U HtayAung, union minister for hotels and tourism. In the past few years, Germany, France and It- aly held the top positions umong WesLern counLrIes in terms of the number of people visiting Myanmar. However, Americans surpussed oLIer WesLern- ers by contributing 6 per- cent of the total foreign entry into Myanmar in LIIs hscuI yeur, IoIIowed by the French account- ing for 4 percent and Germans accounting for 3 percent, according to the Ministry of Hotel and Tourism. The number of Ameri- can tourists has increased after the E-Visa system wus InsLuIIed. LIInk AmerIcuns IIke exIbIe and transparent proce- dures, said U Htay Aung. n LIe hrsL seven months of this calendar year, 1,604,746 tourists entered the country, up by 482,951 compared with last years arrivals during the same period. n zo1-1q hscuI yeur, Myanmar received over 2.04 million visitors with the target this year set for 3 million foreign entries InLo LIe counLry. TIIs hs- cal year has already seen over 1.8 million tourists arrivals, the Ministry of Hotels and Tourism data shows. Myanmar is experiencing a 40 percent growth rate in tourist arrivals and the WorId TruveI und TourIsm CouncII (WTTC) IInLed LIuL Myunmur couId runk among the top ten coun- tries witnessing the fastest growth in the number of incoming foreign visitors by the end of the year. Tourism sector ac- counts for 3.7 percent of the countrys GDP and LIe sLuke Is expecLed Lo increase by 50 percent to 9.2 percent this year, ac- cordIng Lo WTTC. Myanmar issues six types of visas compris- ing tourist, business, en- try, transit, diplomat and multiple entry visas. In June 2012, the govern- ment started easing visa restrictions by allowing visa on arrival for busi- ness, entry and transit visas. The launching of E- Visa on September 1 is a continuation of the easing process. E-Visa, which previous- ly covered 43 countries, is now open to over 50 countries. People from Spain, which does not have a diplomatic relationship with us are also coming in due to this visa sys- Lem. We ure pIunnIng Lo add more countries in the E-Visa system, U Htay Aung said. MOHT is trying to set up dIrecL IgIL IInks wILI western countries to complement the boom- ing tourism industry. The number of visitors arriv- Ing by pIunes IusL hscuI year didnt amount to a mIIIIon, buL In LIe hrsL seven monLIs oI LIIs hs- cal year the number has already passed 1 million. They have come solely through the local and re- gional airlines, the Minis- try of Hotel and Tourism said. In 2012, tourist arriv- als at Yangon Interna- tional Airport increased to 555,000 from 359,000 a year earlier, with most arriving from Thailand, China, France and Ger- many. _.,.:.~ E-Visa ._. _...,:~ e ..,. _e ~ .q:~ . ~.:.. .. : ~..q ~, . .:. .:._e. _. .e. _:.q.. . ~~ . .:.q:~..: ~.,:~. .:.~ ~..q~,..:..:. ._ ~.:.. ._e. ._~: . e ~e . .q .. :..:.q.~, _~ ._:, _._.:.~,_~. .._..~: ~ ._.:._. _ ., .:. . ~~,~~, _:.q.. . ~ . _.:..q . .:. ... ~, .,..~:q. ._.e. ~~,~~ _: .q.. . ~ , ., ..~: ~ .q:~ q, ..: . , .:.q:~~,_. ~ . ~ ._.:..q..:. ~ ... .,..~:~.q:~.._~:. _._ .: . ~, _~ .~._.:._ . _., .:. -.q .. :.~ .q:~ . ~.~~.,..: ,~ q:..,.q ._~:. ,.~ .~._.:._. .q ..~.. .:.. _., .:. . _... ._ _:.q.. . ~ :., _... ~~...:.. ~. .~~.q:~..:..q:. e. _:.q...~ ~..q~, . .:.~.:.. .~ .q:~ . _. . _e. ._ .e. _:.q.. . ~ ~..q~,..:.~.q:~ . .,..: ' q:..,.q_.. :., . , q:. . , . _. .. . , q:. .,.q._~:. e~e..q..:. .:.q.~,_~._:,. .q._. ~..q ~, . .:..~ ~ . ~ .. ~:_~ ~ ~e ~e . E-Visa ._._...,:~ .~: .~: .:. .:. ~ .:_ ~~e . ~,.~:~~..q~,..:. .~~ _~.q.e''e e~e . .q .. :..:.q.~, _~ ._:, _._.:.~,_~..._..~: ~ ._.:._. _., .:. ~ _._ ~ - ~: ._.:~..q_.. ,.~.: ~.: ._-~: ..,.-~: _._~ -~: _e~.,.-~: .~.,-~: ~_~ . _~ . ~ .q:~ . _.- ~: e _q ._ ...~. ~.,_e ..,.-~: _._~-~: _e~ .,.-~:.._ -~: , ..~ Visa On Arrival ~_e. ~~ . . . ~ , . ~ q~ ~ .~ . _. . _. . ~ .q. - ~:~ E-Visa~_e. ~~, .~~:. ~ q~~ . _.. ._ . _.,.:~..q._ ~,..:.q. . -q:~~ ~ ...._~ .e _e . .q.~~~ ~.:~. ~..q ~, ..'.: ., . ~~ ., ...e . . ~:. . ~ .~: . ~~_ _. ...q, ..: . ..,._ e .q._. ~, ..:.q.~, _ ~ ._:,~., _e ~. : ~ . qq ._ .... ....~..q~,..'.: .,. ~~~ _e _.,.:_._...:. - .q ._ e. ~ , ..:.q...: .q:~..,.~:. .~.~.~ .q, ...~q._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 6 Dagon City 1 - Yangons Best Location Making Myanmar More Beautiful Yangon is a sprawling city of seven million people which makes choosing the perfect location for your home and work a decision of vital importance. Dagon City 1 trumps all other possibilities, as the 22 acre mixed-use development is nestled in an area of unparalleled convenience. Dagon City 1 is located on U Htaung Bo Circle, which is just a five minute drive from the bustling downtown area and 30 minutes away from Yangon International Airport, which is Myanmars aviation hub. A Location in Close Proximity with National Beauty Direct footbridges will link Dagon City 1s exquisite apartments, branded retail zones, international grade A offices and five-star hotel with the countrys national landmarks, including the dazzling 2,500-year old Shwedagon Pagoda. Dagon City 1 offers the best platform for Myanmar people to experience the glowing beauty of their most sacred site, while visitors are provided a glimpse of their host countrys rich culture. The panoramic views from Dagon City 1 of Shwedagon Pagoda will imbibe guests and residents with a sense of calm and tranquility, allowing them to pay their respects from within their own homes. An elegant, more serene lifestyle awaits you at Dagon City 1: whether it be walking to the sprawling Yangon Zoological Gardens or Kandawgyi Park. Taking time out to enjoy the simple things of life has never been easier, as there you will find a convenient respite from the hustle and bustle of nearby downtown Yangon. A Hub for Local and International Businesses Meanwhile, companies operating from their Grade A offices at Dagon City 1 Towers will benefit from the convenience of being in the heart of Yangon and a short drive away from Yangon International Airport. Dagon City 1 Towers will create a centralized location for both local and multinational companies seeking international standard offices in a well-designed modern environment. It will be the perfect place to network and forge new business relationships. A Location to Experience Upscale Lifestyle Dagon City 1 Plaza will offer the residents of Yangon a premier luxury shopping experience comparable to the elegant promenades of Paris and New York City. Pedestrian-friendly and unrivaled in extravagant and irresistible offerings for every taste, its vast array of branded retail stores will also promote international and local consumers. Easy-access footbridges in close proximity to the city's most culturally significant sites surrounding the area will provide a safe and convenient way for pedestrians to commute. A Location that Attracts Investment Opportunities From Margas extensive experience across the globe, the group is confident that Yangon has all the right ingredients to become one of the top cities in Asia. Dagon City 1s prime location is also important in terms of promoting real estate investment. For a potential buyer considering the possible investment returns, Dagon City 1s state of the art location, design, property developer and property management are certain to appeal. A Location to Call Home Dagon City 1 will present its r esi dents t h e opportunity to live in the heart of Yangon while enjoying an elegant lifestyle. Its 12-story residential towers will offer apartments as part of its world class community. The residence not only will provide a variety of features to complement modern living, including a luxury clubhouse, a fitness center, outdoor swimming pool, restaurant and indoor golf, but it will also connect the tenants to the citys hottest new shopping plaza, the top cultural landmarks and Dagon High School. Dagon City 1 makes Myanmar more beautiful in the best location in town. The first phase of residential towers 14 will be launched in the fourth quarter of 2014. For more information, visit www.dagoncity1.com ooqo` o_togoacoqtoo5o5_o_oco_ gqoq_o_oo5_otoc oooogctq5toaco_ oqg5og5ooacgqoooo ogt_oto5oq_o_oco`o_r__ oooooqt_ot o5to5gooo@ oo_o5oo_oqg5oc 5totOoooo5oqoo5ctoqoo5 Dagon City (1)oo_ mixed-use oo5cooqto OoO5coo_o_oco`o_r gqoq_o_oooo`co _oqcoo5o5tg_ot gqoq _o__o_ocg5ooooac q5gooogtoqo5o5ootoo5 Dagon City (1) o_ og ooog5tqtg _toO5cooctqtoc o_go`o_r oq_5t_cotooto_ ooqo_ooo_goqo_ Dagon City (1)o_oqoo5_otoo5ooogc5qgoo` ootoo5oo5to5aco_r O_oc oo5gco_ooOooo`og5gq ooooo5cacoooqo_ ooqoooocoqtoooo5coooqo_gqoq_o_ooo Oooo`ooot aco_ oqg5ocoo_t_ocooo_r accoo5oqtoco_oqooooo o_tcggacoo5og5ctoqtoo5toc_ocgtoqto5t_ooc`tocoooac oqoccooooqto5to`oco__oc acoo`ct__oooooot goq_o_oco_ ogooocooo5 oo.O.o (o)co_oqg5o5to o_oocootoo5oo5taco`o_r Dagon City (1)o ootoo5_o_go`ooqoo5_otac ogooocooo5oo _ococtoooo_oc _o_gotoo5ac_oto__cootooto_oo_toc5tggaco__oco_r gqoq_o__o_ocg5ooooac oooootoo_oqg5oco_go_ Dagon City (1)o_ _o_octac accoo5ooo5toooooootaco_ ocoo_too5oqg5_ocooo oo5ctot oooooocto5to_gg5 oqg5o_t_oco_r oo`oocqto5too oocqtoco5tcocacgq ocootoo5cto5t ggaco_ oqg5oco_oco`o_r Dagon City (1)o_ gqoq_o_o oo_o5ooo5oqg5oc o_g_otoq_c5to_ooqo_ooo oo5_ooqo`o_r (o_)Oo_ocgo_oo5o_o5too_too5ocoo_o5ct _oooq_oqo_rLuxuryClubhouseoooocoqOco_oc 5toc5toqtoogotoq c5too5oocotoooooo`ooctac oo5oo5ootoqoc_to_tcgaco_octog5ctoco5tooo_ocgo__ocooo gqoq_o_o Ocogoqg5o5tac qtotoqg5oco_to_goqo`o_r Dagon City (1)o_ oo5ctotoqg5_ococo_ocooo ooooo_ _oqo5acc_oco5ocgq oooo5cootoq_oct_oco`o_r oo5ocootoot_o_aco_ oo_o_g Narga Landmark o_ 5go ooco_oco5ocgq gqoq_o_oo5ooqoto5to__oco_r oo5ctotoo5 ocooto5togoooo5tooo_t Dagon City (1)o og5oo(o) o og5oo(g) Ooo5o g oo _oog oac ootoooocoOooooq_oc cocog5ctoooto5too5o__oco`o_r Myanmar Summary Sal es Hot l i ne : + 95 9 4482 5555 (Advertorial) September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 7 September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com LOCAL BIZ 8 Iollling Myunmur SMIs' Lrgent Iinuncing Needs May Soe San S Ince LukIng power In 2011, the new semi- civilian government has transformed Myan- mars economic, political and social landscape by deveIopIng u murkeL-orI- ented economy, inviting foreign investment and promoting local business. Despite the government experiencing consider- able success through the reform process, Myan- mars small and medium enLerprIses (SME), wIIcI play a pivotal role in the development of a country, remain underdeveloped and ill-prepared ahead of LIe IuuncI oI LIe ASEAN Economic Community (AEC), wIIcI Is Lo be Im- plemented in 2015 high- lighting the urgent need to improve the sector to boost competiveness. Although Myanmar, along with Cambodia, uos und VIeLnum, Ius been given an extension to enter the AEC until 2018, the country has an enormous Lusk In prepur- ing SMEs so that they can compete on a level playing heId und deIIver LIe ex- pecLed economIc benehLs of entering the regional trade bloc. Despite Myanmars SMEs imminent immer- sion into the AEC, they are far from ready to compete on equal footing because they continue to operate based solely on independent resources and continue to have se- verely restricted access to capital, technology, busi- ness infrastructure and the ability to expand into new murkeLs. The dire need for capi tal CreuLIng eecLIve cIun- nels to obtain capital, which is considered the most vital need among SMEs, remuIns dImcuIL and SMEs are faced with numerous obstacles in or- der Lo IuIhI LIe hnuncIuI requirements. We cun geL Iouns oI around 30 percent of the value of the collateral property, so if we plan to build a factory worth K6oo mIIIIon us secu- rity, we can only borrow uround K18o mIIIIon. We can perform better if we can increase investment wILI Iouns Irom bunks. I we cun`L Luke ouL more In loans, we cant increase production and improve our competitiveness, Duw KIIn TIeIn WIn, managing director at Min HLeLe Kuung MunuIuc- turing Co, told Myanmar Business Today. DespILe eorLs Irom LIe government to overcome these obstacles, the num- ber oI bunks IendIng Lo SMEs remains small. The state-run Small and Me- dium Industrial Develop- menL Bunk (SMDB), und now Yomu Bunk, ure Iend- ing to SMEs compared to over zo bunks provIdIng u buskeL oI hnuncIuI opLIons to support SMEs in Thai- land, which has largely contributed to that coun- trys economic growth. usL week LIe WorId Bunk`s prIvuLe IendIng arm, International Fi- nunce CorporuLIon (C), ugreed Lo Ioun Yomu Bunk $5 million to boost the bunk`s cupILuI prohIe so they can more cheaply lend to the countrys capital-starved SMEs. If successful, the IFC may increase the loan to $30 million over the next cou- ple of years. SMIDB borrows from the Myanmar Economic Bunk (MEB) uL un InLer- est rate of 8.25 percent, which they in turn dis- burse to SMEs at a rate of 8.5 percent. TIe bunk cun pro- vide loans only up to the amount it gets through government loans. Col- laboration from other international organisa- tions remains scarce. Ad- ditionally, business man- agement, data and record keepIng prucLIces oI LIe industrial businesses are weuk, creuLIng probIems Ior LIe bunk Lo emcIenLIy inspect how the loans are being utilised, U San Thein, a senior consultant at SMIDB, told Myanmar Business Today. AILIougI LIe bunk cur- rently issues loans to SMEs, the number of re- cipients is limited because the majority of SMEs are unable to secure because LIey ure unquuIIhed. SMIDB said it plans to is- sue Kzo bIIIIon ($zo mII- IIon) In SME Iouns durIng LIe zo1q-1 hscuI yeur - doubIe Irom K1o bIIIIon in loans disbursed to 62 companies during the last hscuI yeur. The more loans we se- cure, the better. Most SMEs dont have their own facilities. Meanwhile, the government also has Lo ussume rIsk In grunLIng loans, U Myat Thin Aung, chair of Hlaing Tharyar In- dusLrIuI Zone, LoId Myan- mar Business Today. I nter est r ate and collateral Yomu Bunk`s ExecuLIve Chairman and CEO, Serge Pun, suId LIuL IIs bunk Is willing to lend to SMEs LIuL Iuck sumcIenL coIIuL- eral. If we feel comforta- ble that your business is a viable one, that will have cusI ow LIuL Is cupubIe of repaying the loan with- in a certain reasonable period of time, we want to lend to you even if your coIIuLeruI Is InsumcIenL. Businesses are interest- ed in obtaining loans from SMIDB because the inter- est rate is lower, but that the loan that is actually issued is much lower than the value of the collateral property is undercutting their potential. Finance minister U Maung Maung Thein hinted in late June that Myanma Insurance Omce wIII conducL u LrIuI run on issuing loans with- out securities in order to provide more opportuni- ties for SMEs. We wIII Lry Lo provIde small loans and promote SMEs ahead of the region- wide free trade system. As we discussed on securi- LIes Ior Iouns, we wIII hnd a way out for SMEs, said U TIeL NuIng WIn, gen- eral director of Myanmar MIcrohnunce Bunk, one oI LIe sLuLe-run bunks. BusInesses cun Luke out more than the al- lowed amount with the credit guarantee card, where the Credit Grantee Department acts as the guarantor, he said. How- ever, LIuL kInd oI Ioun Is rIsky becuuse IL does noL require any security, he added. There is no word yet on the interest rate Yoma Bunk wIII use Lo Iend Lo Myanmars SMEs. Coo't ond foreign suppor t GZ, LIe Germun SocI- ety for International Co- operation, is providing training on controlling Iouns, sysLemIsIng bunk- ing processes to improve IocuI bunks In order Lo ensure the development of SMEs. Currently, the Central Department of Small and Medium Industrial Development, under the Ministry of Industry, pro- vides a variety of support mechanisms for SMEs, including technical train- ing in building databases, advice and information for startups, streamlin- ing registration, access to hnunce, onIIne servIces Lo connecL wILI LIe ASEAN SME Portal, connecting local and foreign SMEs and founding an export consortia of SME team clusters. The countrys SMEs need urgent assistance in developing and scaling their businesses in order to compete in regional murkeLs wIen Myunmur enters the AEC in 2018. The governments ability to support the countrys SMEs acquisition of capi- tal will ultimately deter- mine if they will be suc- cessful or fail to compete against their stronger re- gional rivals. Myanmar Summary A worker makes a Iacquer ware at a workshop at Bagan in MandaIay region. U A u n g / X in h u a
The bank can provide loans only up to
the amount it gets through government loans. Collaboration from other inter- national organisations remains scarce. Additionally, business management, data and record keeping practices of the industrial busi- nesses are weak, creating problems for the bank to efficiently inspect how the loans are being utilised. ~~~ . . . ~ ~. .q.. ~~ .q:~ .:. ._ .,:~ . . _., .: .~ ..q._._.._.:.. . . . .q._._. ._.: .. . . .. :. .q._. _ . ._ .: .. . .:. . . ..: . _. . . .. :..q._._. ._.: .. .~ ...~~...:..q..,.. .q:~qq, .~_._.. _.,.: . ~ _._ .. q .. ._. . . . .:. e ~ ..'_. . _._ ~ .. . .. :..q. . . , ..:.._ . . . e _e ..:.. q, ~,.~:...._...:. ..: q~.:.._. .q:~ .~..e_e. ~ .~~ .q.~~ ~ ~._.. ~~ ....,..:._e.._ ~... .:.. ~.~ .:..~ . . . , ..:. ._._. .:..:~:.,_..~ q _ . . .:._ ._.:~ .~~ . .q:~q.:.~:._ ~:.e . .. :..q.~. ~ ~~, . 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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 9 Myanmar Summary Myanmar Summary LOCAL BIZ Locul Iirms Get MICT Nod to Provide Ixpress Muil Services Kyaw Min T wo local postal ser- vice companies UCS Express Mail Services and Myanmar USU Co were granted IIcences recenLIy Lo oer international express mail services, according to the Ministry of Communi- cation and Information TecInoIogy (MCT). Both companies will pay K1o mIIIIon ($1o,ooo) annually for the permit to engage in international servIces Ior LIe nexL hve yeurs, suId U WIn TIun Htwe from UCS Express Mail Services. The two companies hope to be operational by the end of the year and ure workIng Lo ImpIemenL infrastructure such as in- formation technology that wIII IInk LIem Lo neLworks in other countries and build warehouses to ac- commodate service needs. UCS Express Mail Ser- vIces suId IL couId Luke up to three years for them to Lurn u prohL buL expecL Lo Incur beLween oI Koo- 400 million in annual ex- penses - eecLIveIy oper- ating at a loss while they buIId murkeL presence. Myanmar Express Mail ServIces (EMS) und DH were LIe hrsL Lwo prI- vate mailing services to be granted permission to operate international express mail services by the MICT. Since then, six postal service companies have been given licenses Lo oer InLernuLIonuI ex- press mail services. As the government allows more private companies to compete, customers are provided with more benehLs und opLIons, U WIn TIun HLwe suId. The companies are will oer express muII servIce between Myanmar and over 200 countries. Ministry to Compensute Mining Iirms Phyo Thu T he Ministry of Min- ing said it will com- pensate the com- panies that had to halt operuLIon In KucIIn sLuLe by extending permit peri- ods. The government al- lowed jade mining opera- LIons Lo resume In KucIIn state on September 1 after operations were suspend- ed in May 2012 due to an urmed conIcL. The move comes as a re- sponse to requests of jade mining companies who have incurred losses dur- ing the suspended period, the ministry said. Companies with operat- ing permits must contact the headquarters of the Jewelry Trading Enter- prise in order to obtain the necessary extension. The additional term is based on the length that a company had to suspend its operations, the minis- try announced. Additionally, the min- istry said new public ten- ders will be invited for bIocks wIere LIe operu- tion term has expired. KucIIn sLuLe Ius over z,ooo jude mInIng bIocks, buL LIe ureus oI one KIIn, Hpu KunL, Muw u- Muw Hun und KIun Tee were LIe mosL uecLed by the halting of mining op- erations in the state. KucIIn sLuLe, LIe bIg- gest jade producing state in Myanmar, accounts for the majority of the pre- cious stone on display for sale at jade and gem emporiums. The most recent jade and gem em- porium, held from June 24 through July 6, earned a record $3.5 billion in sales. _._ ~ .~_., ..:. ~ . ~ ...~ .:._ ~~ ... .,.....~~: ~_.__._ . q: ~_., ..:. . . , .~ ....~._..:..__e. ._ ~: . .~ . e .q..~ . ~.~ ~.~ . ,_.._:~,_~. _:,. .q._. e .~ . . . ~ . _ . q, ~~ ~ ..:~ .:.. .. . _. . . :._. _e. ._~: .._ . . q._ . ~. .|_._ ~ .~ . ~ . . . . : UCS ~_.,..:...,.. Myanmar USU ~.~... ~ _e. _. . e .~ . . . ~ . ~ |.. . .~ ~. .. . ~ . qq .__e._.. ~.... ~..,. ~~~ ....._ ..~._. _. ._e. ._~: . 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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com LOCAL BIZ 10 Myanmar Summary Myanmar Summary Gov't to Redooble IHorts to Meet Nutionul Ilectricution Turget Zwe Wai T he Ministry of Elec- tric Power will in- LensIIy ILs eorLs to meet the national elec- LrIhcuLIon coveruge Lur- get for all households by 2030, a minister said. The government is cur- Z a r n i M in
N a in g rently boosting its electri- hcuLIon eorL und LryIng to attract huge invest- ment to the sector, Min- ister for Electric Power U KIIn Muung Soe LoId u worksIop on nuLIonuI eIecLrIhcuLIon progrum In Nuy PyI Tuw. The minister said about 200,000 households in Myanmar get access to electricity yearly, and with the current rate of electri- hcuLIon IL wouId Luke 6 years for the country to supply electricity to all IouseIoIds, mukIng IL Im- possible to meet the 2030 eIecLrIhcuLIon LurgeL. According to the target, Myanmar needs to sup- ply power to about 7.2 million households. Sta- tistics show that power consumption in Myan- mar has increased by 33 percent from 2.4 million households in 2011 to 3 million in 2014. Myanmars electric- ity woes are expected to Improve In LIe nexL hve yeurs us LIe WorId Bunk (WB) Is seekIng Lo InvesL $1 billion in the countrys power sector including electricity generation, transmission and distri- bution. The lender said Myan- mar could increase access to electricity to 50 percent of the population by 2020 with the funding. The Asian Development Bunk (ADB) uIso pIedged a new loan of $60 million to be used in improving Myanmars power distri- buLIon neLwork. AccordIng Lo omcIuI statistics, Myanmars in- stalled capacity now is 4,361 megawatts, while foreign investment in the power sector is $19.28 bil- lion as of June, account- ing for 41.28 percent of LIe LoLuI D Inow. Chin, Kuyuh to Get New Border Truding Posts Phyo Thu N ew border trading posts will be es- tablished in Chin und KuyuI sLuLes, U WIn Myint, union minister for commerce, told a meeting at the headquarters of the Union of Myanmar Fed- eration of Chambers of Commerce and Industry (UMCC). The new trading posts, expected to be set up this year, will become the lat- est in the string of border trading posts created dur- ing the tenure of the min- ister. The planned trading posts will help combat il- licit trade. Trade will in- crease as we are issuing individual trading cards (TC) uL border LrudIng posts, he said. The Chin state trading post is in the early phases of development where assessment is still being conducted, while the Mal Sal trading post has been in development for the past year. The aim of the new bor- der trading posts is to oseL LIe reIIunce on seu trade, which accounts for 70 percent of the coun- trys trade. Establishing more trad- ing posts will increase- Lrude ows, wIIcI cun assist the country in prep- aration for entrance into LIe ASEAN EconomIc CommunILy (AEC), Ie said, thus trading posts had been set up in Maw Tuung, HLI KII und oLIer border areas. The ministry has also brought about 52 com- modity exchanges to fos- ter domestic competitive- ness in preparation for the AEC. . ._._ ,e . ~e:._._ ,e ~~ ,e..~,.e..,..:. e...:..:_e.._~:. ...:. .q.. ~.., ..q:.~e.q.~, _~. _._.:.~,_~. .~._.~ ~ , ._ .~ . ~. . .. 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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com LOCAL BIZ 11 Myanmar Summary LN Agency, MRI to Luonch Rice Wurehoose Insorunce Project May Soe San T Ie UnILed NuLIons Food and Agricul- ture Organization (AO) und LIe Myunmur RIce ederuLIon (MR) ure workIng LogeLIer Lo launch a warehouse in- surance system pilot pro- ject at the beginning of LIe IurvesL seuson In No- vember. The aim of the insur- ance system is to provide a safety net for rice farm- ers uecLed by unsLubIe prices that usually tumble during harvest season. The major challenge facing farmers is that they need money after harvest- ing to settle debts to the ugrIcuILuruI bunk or oLIer lenders. So they have no choice but to sell their crops amid low prices, suId Andrew W SIepIerd, an agribusiness and mar- keLIng consuILunL wILI LIe UNAO. The warehouse insur- ance program will help provide solutions for farmers, he said, adding that the farmers can get receipts by storing rice at the warehouses, which they can then use as col- lateral to get loans from bunks. They can also choose to sell the crops when prices rebound. The project has the potential to increase the income of farmers by 10-15 percent, he said. TIe hrsL pIuse oI LIe project will be tested in Danu Phyu township in Ayeyarwaddy region, the town of Pyi in Bago re- gion, Hlegu township in Yangon, the town of Sit- Lwe In RukIIne sLuLe und NuypyILuw LerrILory. An important project requIremenL Is Ior bunks and warehouse operators to have access to updated crop prIces und murkeL information. The govern- menL sIouId uIso work Lo enact strong laws and reg- ulations, Shepherd said. The project faces chal- lenges because it needs the coordination between bunks und wureIouses. TIe bunkIng secLor`s sLu needs Lo Iuve sumcIenL knowIedge In IurmIng. I LIe bunks und wureIous- es do not have relevant in- formation, they would be able to participate. The technological and bunkIng uspecLs oI LIe system were prepared last year after the MRF sub- mitted a proposal regard- ing the system to FAO. The system will be moni- tored in order to identify sLrengLIs und weuknesses. The FAO is providing technical support for the project. The MRF presi- denL, U CIIL KIuIng, Is providing the warehous- es. or LIe hrsL yeur, LIe project will be on a small- scale basis. We ure uIso negoLIuLIng wILI LIe cenLruI bunk re- garding this project, said U Ye Min Aung, secretary general of MRF. The warehouses are planned to accept three varieties of rice per re- gion, and overall the pro- ject includes 10 varieties that are compatible with LIe IocuI murkeL. TIe pro- ject will be implemented in places with the highest concentration of ware- houses in select town- ships. ~....~.~:~.~e ~._._e. ._ ~. : .:.,. q ~ : ~e FAO . _.,.:.. ., ..|.~. ... ~ . ...| . _.. ...:,~:...,.~.. .q ._ .... ... ..: q ~ q, ...~_e ....:.:.._ _e.._~:. _.,.:..,..|. ~..... .q._. e.~:...,.~ ..:q~ q_. .-~. ~q_ q ~ .~ . : .~:..:. ..|...'.,~ ..|... .~ . .._ ~~ ~ ~ . ._ ....q_. ._ ..,: .:.._eq .q, ~~ ~ _e. _. .~. .| ......~ .:._..|...'. , . ~ :. . ~ :~~ . .~ ..: q ~ . q, _~ ~ . . .~q._~:. .q._. .e..:..~ ~.~.~_~ .,q~:~ ..|...'.,.:.. ~e . : ._ ~: . . .~: . ~ . .~ ~ ._. .. q~e . ~_.:....e :.~:.~ ~ ._ . ..q~~~~ ..|...'.,.: ...~~e ..|... .q: .q~e . . ~.~ ~. .~ ~ ._ eq . e ...:q~e..~.~._eq.e ~~ ~ ~. . ~ ~_. . ~ . . . .q:..q:...~:..~e q .,~ ...:,.:.:.~. .e. .,:~_.. .~.~q.e. ~..~.~~e:..e...|. ..._.. .q:..e.q._. q~e .~ . .~ . ~ q q ~ .~ . :~ _._. . . ...e . q ~e . ~ .| . q .~: . q ~.e: ~~ q:..,.~., ~ q:. . , .~ ~~ .:.e '' e FAO . ..~,.~:~,q . Agribusiness and Marketing Consul tant Mr.Andrew W.Shepherd ~ ._.:._. . . ~ , ...~. ~.,_e -q:~~~. .._e_.,e ... ~ . _._ _. q, ~ , ~ . . _.~ . _.,e q._._,e ...~_. .,_._.~:.~:.,e._..:. ~ .~ .. .... :.._ _e. ._. ~.q._~...:~.~.: ... .,..q:.~.~.~~.~ .:. ...~~.q: .~. ~.~~.~.:.~ .~:. .:..:.~ ~ . .. q: . .. : , . q .:.. . q q, ~.q._~ ._. . ~. .q~.,_e ._. . ~. .|~ . .:..:... ,_ .....:._ e ~ _ ., _ . ...| ..|~ ...q, . ~. ._~: . Mr.Andrew W.Shepherd ~ .~._.:._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com LOCAL BIZ 12 Oil & Gus Ixpo Aims to evelop Sopply Chuin Ior Locul Oil und Gus Ico-System Wai Linn Kyaw T he inaugural edi- tion of Oil & Gas Myanmar is aiming Lo be u key drIver In esLub- lishing a holistic supply chain of equipment and services for the burgeon- ing oil and gas industry in Myanmar. The exhibition, to be held from October 15-17, will feature more than 100 exhibitors from 22 coun- tries covering products and expertise catering to the upstream, midstream and downstream sectors of the industry, the organ- isers said. Myanmar opening the industry to interna- tional energy companies, has triggered a growing demand for the correct equipment and capa- bIIILIes In LIIs heId. WILI much of this expertise re- siding outside the shores of Myanmar, Oil & Gas Myanmar has gathered a host of internationally known IndusLry numes introducing the necessary equipment and services for each sector of the oil and gas value chain, said CIuu Buck CIeng, projecL director for engineering events of organiser Singa- pore Exhibition Services (SES). WILI LIe mujorILy oI LIe oil and gas industry in My- anmar currently focused on upstream activities, Oil & Gas Myanmar has pooled together exhibi- tors including 3D-GEO, Downhole Products, IuId ncIusIon, onesLur Triplefast, Sensitron Sin- gupore und TecInIcs O- shore Engineering. These exhibitors will showcase a range of up- stream products and ser- vices including geophysi- cal products and services, geological studies and consulting, modern tech- noIogIes oI drIIIIng, o- sIore und onsIore heId exploitation, seismic data acquisition and surveying among many others, SES said. Keven AsquILI, CEO and exploration specialist at 3D-GEO, said: Hav- Ing worked wILI muny oI the international energy companies currently ex- ploring in Myanmar, we can certainly assist petro- leum explorers in Myan- mar by improving their seismic data quality and geotechnical evaluation workows Lo opLImIse basin-wide and prospect evaluations. We Iope Lo reIresI our knowIedge oI Myunmur and collaborate with the Myanmar Oil and Gas EnLerprIse (MOGE) und local industry partners to LuckIe LIe cIuIIenges oI exploring and developing petroleum resources. Peter Pratabh, business development manager of Downhole Products, said there has been a grow- ing demand in Myanmar for Downhole Products equipment. We ure very opLImIsLIc about the current oil and gas industry in Myanmar und ure IookIng Iorwurd to further development of its upstream sector. ocuI oII und gus servIc- es companies Parami En- ergy and Smart Techni- cal, along with Myanmar Oil and Gas Enterprise (MOGE) wIII muke up LIe local presence at the expo. Indiu-Myunmur Ierry Service to Start in October Aye Myat A ferry service be- tween India and Myanmar to facili- tate cargo and passenger movement between the two countries will begin next month, an Indian minister said. The proposed cargo ferry service will connect the two countries through Indias port city Chennai and Myanmars commer- cial hub Yangon. It will open a sea route and strengthen economic ties for land-based trade worth about billions of dollars, Indias Minis- ter for Road Transport, Highways and Shipping NILIn GudkurI LoId ndIun media. State-run Shipping Cor- poruLIon oI ndIu Is IIkeIy to deploy a 1,200 TEU (LwenLy IeeL equIvuIenL unIL) vesseI, wIIcI wIII connect the ports of Co- Iombo, CIennuI, KrIsInu- patnam and Yangon. Indias Ministry of Shipping has also report- edly formalised a coastal shipping arrangement in 2014, which would boost the coastal movement of vessels between the two countries. Chennai Port in India. o v e r la n d f r o m lo n d o n 2 s y d n e y / F lic k r b a t a m - m a r in e . c o m Myanmar Summary Myanmar Summary Myanmar Summary Mining Ixports Rising Phyo Thu M yanmar has earned $281.15 million from mining product exports during April 1 to August 15, according to the Min- istry of Commerce. This is $48 million higher than that of last year. Raw minerals, rath- er than processed prod- ucLs, mude up LIe buIk oI LIe exporLs, U KIIn Maung Han, secretary of the Myanmar Federation of Mining Associations, told Myanmar Business Today. Myanmar is majorly exporting seven min- ing products and most of them in raw form due to Iuck oI processIng LecI- nology. If foreign compa- nies are to come [into the country] certain restric- tions must be eased, he added. Jade exports accounted for $175.68 million while metal and metal ore ex- ports fetched $48.93 mil- lion, jewellery exports $4.95 million and other mineral exports garnered $51.58 million. China is the biggest destination for jade ex- ports. The exports are expecLed Lo IIke us mIn- ing operations have been allowed to resume in KucIIn sLuLe, un IndusLry insider said. -_. . ~ q~ ., . ._ _. ~ . ~ q~~ .~.e~:~ .. _ ..:. _ ._ .~ . . ._ ~..q~,..'.: .,. ~ ... ~, .,.qq:.._~:. ...:..q..~..,..q:.~e .q.~,_~._:,. .q._. ~. .|..:~~~ . .~:~ ...~.. ~,..'.: ~ ... '~ ~.:...~.. . _. . .~ . .~ , .~ . . ..'.: , ... ,, .,. .~:~ . ~ q~,:~ . . ..'.: , ... , .,. ~_.:.~.~ ..'.: ~ ... , .,.~ ~.. ~:_e.._~:. .q._. Oil & Gas Myanmar _.. . ~ .~ e . . . ~.. .~,:. ._ _., .:. - ~q , ~e , _. e_e.~.~~.,..:.q,.. :~.:~ . ~_~~ ~ .. _ . ~ q e:.:.. ~, ..: . .:. _ e_ ._ . . .. . ._ ~: . ~ _._..:~_.:.q.~~~ .q:~ . :. . ..... ._ e q_ q e .e: ..: :._. ._e. ._ . .~:~ ~ : ~ . ~ _~:.~ ..._ e ._.. ~ . . . ~ .~ . ~~~ .~: .|~ ._~: . . q._ . ~ . e. _., .:. ~ ~_~:. ~ , ._ . .q .._ . :..:. ~ . . .. :.. ..._ .. :. ..:.q.~,..:.~.:._ .:~~ ..~ . :.._ _ e. ._~: .~ . e~, _~ .~. .~ ._.:_~:.._ . e .~. _.:...: .. : ~, ..: . ._ ~ . e-. . ~. . _. .~: . . .. _., .:. - . . . :..q._. .~: q, ~ , ~ . ~. . . . ~ .~ . e ...._ . September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com REGIONAL BIZ 13 "Iorced Luboor RiIe in Muluysiun Ilectronics Iuctories: Report Trinna Leong N early a third of some 350,000 workers In Mu- laysias electronics indus- Lry - u crucIuI IInk In LIe international consumer suppIy cIuIn - suer from conditions of mod- ern-day slavery such as debt bondage, according to a study funded by the US DepurLmenL oI ubor. The survey by Verite, an international labour rights group, found that ubuse oI workers` rIgILs particularly the tens of thousands from low-wage counLrIes IIke NepuI, My- anmar and Indonesia was rife in a $75-billion sector that is a mainstay of the Southeast Asian countrys export-driven economy. Several US, European, Jupunese und SouLI Ko- rean multinationals have operations in Malaysia, including Samsung Elec- LronIcs Co Ld, Sony Corp, Advanced Micro Devices, nLeI und BoscI Ld. Some big brands use suppliers such as Flex- tronics, Venture Cor- poration, Jabil Circuit, and JCY International Lo muke purLs Ior smurL- phones, computers and printers. The US government funding adds credibility Lo u reporL wIIcI Is IIkeIy to come as a surprise to many consumers. Malaysia is a middle- income country where la- bour standards have been seen as better than in some of its Asian neigh- bours such as China, where questionable la- bour practices have drawn scrutiny in recent years. Verite did not single out any companies in its re- port, but blamed a system in which government and industry policies have giv- en Malaysian recruitment hrms IncreusIng conLroI over workers` puy und other conditions. These results suggest that forced labour is pre- sent in the Malaysian electronics industry in more than isolated inci- dents, and can indeed be characterized as wide- spread, the group said. Several US companies with operations in Ma- laysia told Reuters they could not comment un- til seeing the full report. An nLeI spokesmun suId mosL oI LIe cIIpmuker`s 8,200 employees in the country were Malaysian and it did not use contrac- tors. Flextronics said it was aware of issues relat- ed Lo IoreIgn workers und had rigorous policies to prevent abuses. The study comes three months after Malaysia was downgraded to Tier 3 in the US State Depart- menL`s unnuuI TrumckIng in Persons report, which cILed u Iuck oI progress in protecting the rights of about four million foreign workers. The report, based on InLervIews wILI o1 work- ers, found that 28 percent of employees were in situ- ations of forced labour, wIere work Is coerced through factors including indebtedness from exces- sive fees charged by re- cruiters. TIuL hgure rose Lo z percenL Ior IoreIgn work- ers, who are often mislead about salary and other conditions when they are recruited in home coun- tries, and are commonly charged excessive fees that lead to indebtedness. Verite said the numbers were based on conserva- LIve dehnILIons. L Iound LIuL ; percenL oI workers displayed some charac- teristics of forced labour. Stabi li ty, low costs Malaysias electronics and electrical industry made up 33 percent of exports in 2013. In 2011, foreign investment in the sector accounted for $2.68 billion, or 86.5 per- cent of the total. MuIuysIu Ius benehLed in recent years from a rep- utation for stability and low costs, gaining fresh InvesLmenL uILer oods In Thailand in 2011 crippled factory operations there. On uveruge, workers In the survey were found to have paid 2,985 ringgit ($qz) |$1=.z1 rInggIL| Lo brokers In LIeIr Iome country and in Malay- sia as payment for their passage and jobs. That is more than the average per-capita annual income In NepuI. UnubIe Lo uord u Iump sum upfront, more than Lwo LIIrds oI workers wIo puId broker Iees Iud Lo borrow money. One In hve ImmIgrunLs were workIng more LIun the suggested 60 hours oI overLIme u week - LIe industrys internation- al standard limit the group said. Malaysian law uIIows empIoyees Lo cIock up to 72 hours of over- time. Malaysian laws have been amended in recent years to encourage the growth of recruitment companies that provide workIorce servIces Lo multinationals, including paying, accommodating and disciplining employ- ees. IubIIILy over vIoIu- LIons oI worker rIgILs Is obscured, creating vul- nerability on the part of LIe worker Lo expIoILuLIon and abuse, the group said. TIe group Iound work- ers passports were often conhscuLed by recruIL- menL hrms, wIIcI Is II- legal in Malaysia. Some hrms were Iound Lo charge more than $1,000 Myanmar Summary R e u t e r s Ior u worker Lo borrow his or her own passport. Reuters ....q :.. -. ~~: . . .~ , _ e_ ._ ..q... . ._ ~: .~~ ~ ~.q..|..: ......_.~...q.~_ . ....|....:. ,~,~~~ - ...~...,.: ~._ ~._e ~...:...._..~. ..~ .. .~.~, _.~.. . .... .:. ..,q._~:. ~..q~, ~....:...._:,. .._~. .:~...: ..~.,~.. ~q .q._. .~~:~....:.~. ~.q.~e~._. Verite - ...:.~~ ....q:.. . .:.q:~..~_~_..: , ..|... _.,.:.... ~. , .q :.. . . ~. . ..:..:.. : .: ~.~.q..: ...e:~. .,q._~:. .e:_.:.._. . . .. .. _ . Samsung ~ . ~ Sony Advanced Micro Devices Intel . Bosch Ltd ~ ~.|~~ ~..q~:. .q:. .,. .~:~q.e:.~. .~~: . . , ._ ~ .~. :.~_ .:.._ ....q:..~ ..,..:. ~_.: :.._~: . . q._ . Verite._ , .-~. q . .: ~ ~.~~...- ,:._~ .q.~~_.:._.....q ....q :.. -. . .. . ,_ ..,. .:.~ . e ..~ .:.q .,._~:. ~_.:._.. ....q :.~. .q. . ~|.. :. ._ ~. . ..:.q :.e .q. ..,..:.~:. ...:..:.- ..:. ~_.:.~.~.q..:. .._~~..' _..:..:,. .. . ...:.._~: . .~ q ._. ~....:. ~~ .~:. .~...._.,.:...:~.q ..:.: ...:. q:..,. ._ ~..~~q:.e.q... ,..:.- .~,~..~:... .:.._~: ~._~..:.~_.. .._~.~.:._e ~~. ~~ . ~. . . . ... .,q ._~:. .~q.q._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com REGIONAL BIZ 14 Tin Smelters in Indonesiu Holding oot Ior Premioms to LMI Yoga Rusmana T in producers in In- donesia, the largest exporter, are hold- ing out for sales of the metal above the bench- murk spoL ruLe In ondon to try to counter a decline in prices to the lowest level in more than a year. Futures rose. Its a semi-morato- rium, Indonesia Com- modity and Derivatives Exchange Commissioner enny WIdjuju suId In un InLervIew In JukurLu. Smelter members on the CDX were oerIng meLuI at $500 to $600 a metric ton above the contract on LIe ondon MeLuI Ex- cIunge, WIdjuju suId by phone yesterday. Thats more than the $398 pre- mium paid at the end of last month. The ICDX is the only exchange in Southeast Asias largest economy thats permitted to trade LIe rehned meLuI used In puckugIng und eIecLron- ics before its exported. TIn In ondon reLreuL- ed by the most in more than a year in August us sLockpIIes expunded for a fourth month. The JukurLu-bused excIunge had transacted no tin this month until yesterday, when cargoes of the metal were soId ubove LIe on- don price. Indonesian sellers are not prepared to follow the ME prIce down, PeLer KeLLIe, u reseurcI munug- er at St. Albans, England- based industry group TR Ld., suId by e-muII yesLerduy. LIInk LIere Is a similar thing happening in the Chinese domestic murkeL, wIere busIness Is extremely slow. Tin for immediate deliv- ery fell 4.4 percent on the ME In AugusL, und ex- tended losses to $20,897 a ton on Sept. 9, the low- est close since July 2013. The metal increased 0.4 percent to $21,043 yester- day as trades on the ICDX totaled 1,150 tons, with 1,005 tons sold at $21,515 a ton and the balance at $21,615. Three-month fu- tures rallied as much as 1 percent to $21,280 on the ME Loduy, und Lruded uL $21,260 at 12:09 p.m. in ondon. Mor e Str ength Theyre pulling it out there to just see how the murkeL reucLs, DuvId ennox, u resource unu- lyst at Fat Prophets, said from Sydney today. If theres no real violent reaction to what theyre wanting to do, then thats an indication that theres a little more strength In LIe murkeL LIun we thought. TIe weuk Lrude on LIe ICDX was purely because oI LIe prIce, JubIn Suh- anto, chairman of Asso- ciation of Indonesian Tin Exporters, said by e-mail yesterday. The associa- tion groups 18 smelters of the 22 that trade through the bourse. Smelters dont want to sell cheap because ore prices are very high, said WIdjuju. SmeILers preIer Lo buIId up sLockpIIes wILI the current low price, on expectations that it will rise to a decent level, probably at $23,000. Mi ni mum Pr i ce The ICDX sets a daily minimum price for tin contracts, with an ex- change committee agree- ing the rate. Sales made through an auction sys- tem cant be made below the daily level, which is omcIuIIy known us LIe Suggested Opening Bid. The government made ex- porters trade through the excIunge In un eorL Lo challenge the dominance oI LIe ME bencImurk. Trade on the ICDX to- taled 4,855 tons in Au- gust, 3,810 tons in July and 4,660 tons in June, exchange data show. Be- fore yesterday, the last trade was on Aug. 27, when the PB300 contract, the most active, was at $22,080 a ton. That was $q8 ubove LIe ME spoL price that day, Bloomberg calculations show. nvenLorIes Lrucked by LIe ME cIImbed q.q percent to 12,295 tons in August. The reserves dropped 1,085 tons to 10,210 tons yesterday, the lowest since May, accord- Ing Lo ME duLu compIIed by Bloomberg. Global demand for tin will outstrip supplies for u hILI yeur In zo1q, BNP Paribas SA said in May reporL. TIe murkeL wIII Iuve u gIobuI dehcIL oI 13,000 tons this year and 10,000 tons in 2015, ac- cordIng Lo LIe bunk. Bloomberg EmpIoyees observe as moIten tin is poured during casting at a processing faciIity in Mentok, Bangka IsIand, Indonesia. D im a s A r d ia n Myanmar Summary CoHee Rully Spors Top Shipper to Expand Abroad Swansy Afonso I ndIu`s bIggesL coee exporter is expand- ing in Vietnam to help boosL prohL Lo u record us easy access to raw mate- rials and regional trade agreements drive sales growth. CC ProducLs (ndIu) Ld. (CCP), wIose sIures have leaped 162 percent this year, will produce 5,000 tons this year at its Vietnamese plant with an annual capacity of 10,000 tons, and raise it further in the next three years, C. Rajendra Prasad, chair- man and managing di- rector of the Hyderabad- based company, said in an interview. CC ProducLs Is ex- panding capacity in Vi- etnam, the worlds sec- ond-biggest grower of the beans, amid a rally in prices spurred by concern that drought in Brazil will sIrInk suppIIes Irom LIe worlds largest grower. Forecasts for record crops in Vietnam and India will guurunLee CC ProducLs raw materials and bolster eorLs Lo wIn more buyers Ior InsLunL coee suppIIes domInuLed by NesLIe SA und KruIL oods Group Inc. The plant in Vietnam has added to our capacity and also reduced costs, Prasad said in a phone InLervIew. We ure LIe IurgesL ImporLer oI coee in India from Vietnam for the last 15 years. Thats why Vietnam invited us to put up this plant and gave us all the concessions. The company, which has built infrastructure to produce 20,000 tons oI coee unnuuIIy, pIuns to increase production to 85 percent of its capac- ity in the Southeast Asian country, he said. The Vi- etnamese government Ius grunLed CC u Iour- year tax holiday, he said. The plants location in LIe green coee Iub oI Duk uk muy suve CC Products about $50 a ton in logistics cost, Abhijit R. AkeIIu und AnubIuv Goel, analysts at Mum- buI-bused brokeruge Ld., suId In u reporL on Sept. 8. The company will bene- hL Irom LIe growLI In LIe InsLunL coee consump- LIon In murkeLs sucI us Southeast Asia, while Vi- etnams free trade pacts with countries in the re- gIon wIII boosL prohL, LIey said. Bloomberg ~.e.~_~....~:e~. ._..,.._ ~,_~...:. qe q, . e ~ _. .. ...~ . ~ , . e .q...:~ _ .~ .:.~ .q:.~:.~ _.~... . ._ _e. ..:._~: - e~ ,. . . ...~ ~ . ~:~~ . ~_.~..,~qqq, _.~ ..:q~.~q._. e...~~. qee:~,e. ~' q:..,. _.~~.:. ..: CCL Products (India) Ltd. (CCLP)._ -e~,. .q ~.... .~:e ~, ., ~~,~~~ ~.....: .~ , . .,_ e. . . ~ ~, . , , ~~~ ~ . . ._ _ e. ~: . .. . ~~ . ~ ._. ~ . . . :.._ _ e. ._ ~: . ~ . ~ ~_.~.....|,~~:_e. . C. 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Myanmar Summary September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com REGIONAL BIZ 15 Myanmar Summary Two Yeurs uIter Protests, "Chinu Risk Still Huonts Jupun Iirms Norihiko Shirouzu and Kazunori Takada A mid a revival in sales of Japanese goods in China und LuIk oI renewed In- vestment from some big hrms sucI us ToyoLu, u dusLy IndusLrIuI purk neur NunjIng oers u coId reuI- ILy cIeck on LIe IeuILI oI ties between Asias two biggest economies. DespILe oerIng renL- Iree premIses Ior LIe hrsL three years to compa- nies expanding to China, the Japan Automotive Parts Industrial Cent- er (JAPC), seL up In Dun- yung, zoo km (1zo mIIes) west of Shanghai, in 2011, remains near empty. A visit to the Danyang purk, LIe bruIncIIId oI former Toyota Motor Corp execuLIve Kuzuo Az- uma, challenges the view that Japan Incs engage- ment with China is slowly recoverIng Irom LIe sIock of anti-Japanese protests that erupted two years ago. Do we see any ray of Iope? usks Azumu, wIo has spent more than 20 years in China, mostly building factories for Toy- ota. To be honest, none at the moment. Japans IuII oI rIsk-bIrds cIIrpIng, 'CIInu rIsk`. Azumas vision was to transplant up to 400 uuLo purLs mukers Irom Japans industrial heart- land, to help them survive the global shift in car de- mand to emerging econo- mies. China, which is ex- pected to generate annual sales of well above 30 mil- lion vehicles by 2020, ap- pears the obvious choice Ior sucI hrms Lo esLubIIsI a base. But JAPIC has only 24 parts producers in op- eration half of what had been envisioned by now. Azuma and the Danyang local government, which has invested at least 220 mIIIIon yuun ($6 mII- IIon) In LIe projecL, Iuve cuIIed o LIe second und third phases of construc- tion. They have also decided to drop Japan from the purk`s nume und Lo Lry Lo woo Taiwanese and other suppliers with ties with Japanese producers. 1noestment Slump Tensions between To- kyo und BeIjIng spIked In September 2012 after Ja- pan nationalized a small chain of disputed islets in the East China Sea, trig- gering sometimes violent demonstrations and a boycott of Japanese goods by some Chinese consum- ers. Firms such as Toyota, Hondu MoLor Co Ld und NIssun MoLor Co Ld suw sales slump. Japans direct invest- ments to China fell nearly 20 percent in 2013 and dropped another 40 per- cent to 300.8 billion yen ($z.8 bIIIIon) durIng LIe hrsL IuII oI zo1q com- pared with a year earlier. Southeast Asia became a primary destination for Japanese investment, attracting almost three times the amount going Lo CIInu. DurIng LIe hrsL half of this year Southeast Asia attracted 878.1 bil- lion yen worth of invest- ments. Jing Donggen, a senior Danyang government of- hcIuI In cIurge oI LIe eco- nomic development zone where JAPIC is located, LIInks LIe downLurn In Japanese interest is tem- porary. We`re conhdenL In this program because there is limited growth opportunity for Japans small- and medium-sized companies in their home- land, he said. There is some recent evidence from bigger Japanese companies to support that hope, with LIe mujor cur mukers, for example, seeing some pIck-up In suIes und muk- ing bullish forecasts. Honda is aiming to boost volumes by 19 per- cent to 900,000 vehicles this year. Toyota, which is also trying to boost sales by about 20 percent to 1.1 million vehicles in 2014, is considering adding manufacturing capacity again, possibly building a new assembly plant by as early as 2018. Yet smaller companies remain wary. Kyowu MeLuI Works Co., a manual transmission suppIIer In YokoIumu, passed up an opportunity to expand its operations In WuIun In zo1z, opLIng instead for a 2 billion yen move to open a plant near JukurLu. If there are political conIcLs In CIInu, wIo knows. We mIgIL noL be able to repatriate what we have invested, said Chief Executive Masumi TukusIImu. Expots Leooing In the short-term, it may not matter much to China that Japanese hrms, wIIcI Iuve Iong been the top direct inves- tors in China excluding Hong Kong und TuIwun, ure now IoIdIng buck. Investors from other economies, including Sin- gupore und SouLI Koreu, ure eugerIy LukIng up LIe sIuck. AILer Lwo decudes of development, Chinas auto industry is also less reliant on foreign exper- LIse und know-Iow. But in the longer run, the slowing Japanese in- vestment could deal a blow to the development of Chinese technology, es- pecIuIIy II CIInu Iooks Lo expand in more cutting- edge areas, such as hydro- gen fuel propulsion. To be sure, most Japa- nese companies arent about to give up on Chi- na completely. Many of those who have set up op- erations at JAPIC remain positive. Konun Kogyo K.K., u small electrostatic paint- ing company based near Toyota City, began op- erating a metal painting line in Danyang with 50 workers In eurIy zo1z und is contemplating opening another line to double ca- pacity. It would be a lie if I said we are not concerned about the political ten- sion between Japan and CIInu, suys Konun`s Danyang-based manager HIromILsu OzukI. BuL LIInk we mude LIe rIgIL decision to open shop here. But other evidence from LIe ground Is bIeuk. n Beijing and Shanghai, there is an exodus of Japanese expatriates and their families, though air pollution and a general economic slowdown are also blamed, along with the political tensions. The number of Japa- nese nationals living in Shanghai and neighbor- ing Jiangsu fell 18 percent to 60,300 over the year through October 2013, LIe hrsL decIIne sInce LIe Japanese consulate in Shanghai began conduct- ing the survey in 1994. The Japanese school of Beijings student popu- lation has fallen to 480, from more than 600 last year. Azuma bemoans that Jupunese hrms no Ionger uppeur cupubIe oI IookIng at China objectively. If there are 100 news items about China and 10 are bad, all 10 items wouId muke LIe evenIng news, but the rest is ig- nored because anything negative on China sells in Japan, he said. Reuters ~, ~ . ~ ., ~ , .. _ . .:. .q:.~:._.,~~.:._ .~~ ~e~:~. ., ~.~_~..:.~ q..._.... ~.. .:._.. . q, .. ... .. .:. _.,..:.,~ ,,q e,~~.,..: .~.~,~.. ~ ~:q -. .. :..q.~ ~:. ~_~......~_~:..~. .q.~ ~q~~. ..e_.., ._. ~ e ~:~:.. . , .-~. ..:~q:q.e:. ~,~~ ~~ .:.-. ~ ~._e ~~~ ~ ~.~: ~_ .e: :...: q , e ._. ~.,:~ . . ,, q .,~:.~.~~..~.. .q.. ~: (JAPIC)._ ~, ~ .~ ..,.....: ~.~.:.~~~ ...... ~~. :.q...~..~._. ._e ~.....:.._~ .~ q ~. , ~ ._ .:~ ~. .~ .q._. e...~,.~ ..'.: ,' .,. ....|.q..._......: ~:~ .:.. ., q, ,e . ~. .q ~._ .~.~,- .~e. ~~ e~. ..:~ . . .q. ..,..:.~._. q....q ._.,.~._ .,~:.~ . . . .:.. ~.~ ~. e q ..: ~.. ~_.:.~.~ ~. . _ e_ ._ . . .:. ~:. . ..: . q, ~~ ~ .~ . ~ , ,:._. .,~ _e~q,._. . ._e~ . _~._ .., . ~ ~.q ~, ~ . .e ~~ .q ~ , .. ~,_ .e ~ ., ~ . . ._~: .~~~ ._~_: _...,:~.. ~~. .. ~~_~:.~ ~..:..:...' ..| ~ ~: ., ., ~ .q. _ . ., ..: .. _ .. . :.. .,.._. ..~..:~..:. ..'..|~ . ._ . September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com INTERNATIONAL BIZ 16 Myanmar Summary Biggest Bunks Suid to Overhuol IX Truding AIter Scunduls Julia Verlaine and Gavin Finch T he worlds biggest bunks ure overIuuI- ing how they trade currencies to regain the trust of customers and preempL reguIuLors` eorLs to force changes on an in- dustry tarnished by allega- tions of manipulation. Barclays Plc, Deutsche Bunk AG, GoIdmun SucIs Group nc., RoyuI Bunk oI Scotland Group Plc and UBS AG, which together account for 43 percent of foreign-exchange trading by bunks, ure InLroduc- Ing meusures Lo muke IL harder for dealers to prof- IL Irom conhdenLIuI cus- tomer information and Luke udvunLuge oI cIIenLs in the largely unregulated $5.3 trillion-a-day cur- rency murkeL, uccordIng Lo peopIe wILI knowIedge of the changes. Bunks Iuve cupped wIuL employees can charge for exchanging currencies, limited dealers access to information about cus- tomer orders, banned the use of online chat rooms and pushed trades onto electronic platforms, ac- cording to the people, who usked noL Lo be IdenLIhed because they werent au- thorized to discuss their hrms` prucLIces. TIIs Is hnuIIy brIngIng LIe X murkeL InLo LIe 21st century, said Tom KIrcImuIer, u IeIIow In LIe hnuncIuI-murkeLs group uL LIe ondon ScIooI oI Economics who special- izes in the governance of bunks. WIuL we`re see- ing is a modernization of processes that probably should have been brought in 15 or 20 years ago. Benchmar k Ri ggi ng TIe bunks ure ucLIng after authorities on three continents opened probes into allegations that deal- ers Ieuked conhdenLIuI cII- ent information to coun- LerpurLs uL oLIer hrms and colluded to rig cur- rency bencImurks used by money managers. U.S. und U.K. reguIuLors ure In LuIks Lo seLLIe some oI LIe probes us soon us Novem- ber. Prosecutors in the U.S. ure prepurIng Lo hIe charges against traders as soon as next month, two peopIe wILI knowIedge oI the matter said. The scandal may cost lenders as much as $15 bIIIIon In hnes, uccord- ing to Chirantan Barua, an analyst at Sanford C. BernsLeIn Ld. In ondon. Regulators are probing allegations that traders shared data about orders wILI peopIe uL oLIer hrms using instant-message groups with names such as The Cartel and The Bandits Club, and with clients in a bid to win business. One focus is whether dealers sought Lo move LIe WMJReu- ters rates in their favor by pushing through trades before and during the 60-second windows when LIe bencImurks ure seL. Britains Financial Con- duct Authority this year ordered bunks Lo revIew LIeIr ruIes ubouL conIcLs of interest in the foreign- excIunge murkeL, u per- son wILI knowIedge oI LIe LuIks suId. TIe reguIuLor also plans to evaluate the conLroIs LIuL hrms Iuve over traders around the LIme bencImurks ure seL, according to its business plan. Chris Hamilton, a spokesmun Ior LIe CA, declined to comment. 'Look Cood' TIe bunks ure very concerned about what the regulators are going to do, und LIIs mukes LIem Iook good, suId CoIIn Mceun, founder and chief execu- LIve omcer oI SVM AsseL MunugemenL Ld. In Ed- inburgh, which oversees more than $900 million. Muybe LIey LIInk IL pro- tects them somewhat from future regulatory changes. RBS and Barclays this year stopped traders and salespeople from seeing colleagues forthcoming deuIs und LIeIr bunks` buy and sell orders in aggre- gate, four of the people said. Such information is useIuI Ior Lruders IookIng to protect themselves or prohL Irom IuLure murkeL moves, they said. RBS now segregates cli- ent requests for currency Lrudes uL LIe bencImurk rate from the rest of the order book, uccordIng Lo two of the people. Only the trader handling the order at the reference rate is able to see it. The EdInburgI-bused bunk uIso sLopped LukIng or- Banks have capped what empIoyees can charge for exchanging currencies, Iimited deaIers` access to information about customer orders, banned the use of onIine chat rooms and pushed trades onto eIec- tronic pIatforms. J in
L e e / B lo o m b e r g Wul-Murt to Sell Aostruliun Rivul to Kinder Sorprise Chocolutes in LS Thuy Ong A small Australian confectioner will start selling its chocolate encased toys in the United States from OcLober, cruckIng u po- LenLIuIIy IucruLIve murkeL wIere ILs beLLer-known gIobuI rIvuI, KInder Sur- prise chocolate eggs, are outlawed. Yowie Group said that WuI-MurL SLores nc, LIe worlds largest retailer, will trial its Yowie choc- olates across 50 stores in Texas. If the trial is suc- cessIuI, WuI-MurL wIII start selling Yowies na- tionwide. The company did not give further details. Shares in Yowie Group jumped as much as 18.5 percent after the compa- ny announced the tie-up wILI WuI-MurL. TIe sLock has quadrupled this year, In u uL AusLruIIun sIure murkeL. Yowie Group is based in Perth in western Austral- Iu. L Ius u murkeL cupI- talisation of around A$66 mIIIIon ($6o mIIIIon) und currently does not export its chocolates outside Australia, according to its website. KInder eggs, mude by privately owned Italian confectionery company Ferrero SpA, are banned in the United States be- cause of the potential cIokIng Iuzurd Ior In- fants. The chocolates, howev- er, are readily available in many countries across the world. Since its launch in 1974, Ferrero has sold neurIy o bIIIIon KInder Surprise eggs worldwide, the company said on its website. Yowie Groups deal with WuI-MurL comes u Iew months after the com- pany won the only patent granted so far by the US Food and Drug Admin- istration for a chocolate- encased toy. Yowies were originally made by Cadbury, but the confectioner discontinued the brand in 2005 after a legal dispute with its crea- tors. Seven years later, in 2012, Yowie Group was formed and relaunched the product. Yowies are popular among Australian chil- dren because they include miniature replica toys of endangered species and other wild animals, as well as educational mate- rial on conservation. The core brand mes- sage to save the natural world is still relevant to- day, Trish Fields, a di- rector of Yowie Group, told Reuters. Reuters Myanmar Summary ders uL WMJReuLers rates for some emerging- murkeL currencIes, wIIcI are more vulnerable to manipulation because theyre less widely traded, the people said. Bloomberg ~. : ~_ ~ .. .~ _ ~ .. :. ._ ~.._...:.-e_~_. ~ _.,._qqq,. ~:~:. .:.-~._.:.~..:. e~:. ....e:..:..:..~. ..: ..: q ~ . q, .. .~ ~ ~ ..~..e:.,._e .... . :._ e . ~ :~ . ..~ q ..:.._~...e.q...,. ~ _._.._.:....:. _... .:._e .q._. ~ .:.-. ._~.. . e .q. ...~ ~ ,, q:. . , .~ ..: q~....,..: Barclays Plc DeutscheBank AG Goldman Sachs Group Inc Royal Bank of Scotland Group Plc . 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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com INTERNATIONAL BIZ 17 Myanmar Summary New utu Shows Americuns' Incomes Still Stagnant After Recession Jason Lange I n what has become a recurring theme in Americas long slog buck Irom LIe zoo;- 09 recession, most US households again saw no noticeable increase in their income last year. A report from the Cen- sus Bureau showed the countrys median house- hold income edged up just $180 last year to $51,939, a gain deemed statistical- Iy InsIgnIhcunL. Income at the median, meaning half the coun- try earned more and half earned less, has declined nearly $5,000 since 2007 when the nation fell into a deep downturn. TIe hgures muke IL easier to understand why muny AmerIcuns LIInk the United States re- mains in recession and wIy PresIdenL Buruck Obamas approval ratings have hovered near 40 per- cent. Obumu Look omce u few months before the recession ended in June 2009, and a frustratingly slow economic recovery has vexed his presidency and could weigh on his DemocruLIc PurLy In No- vembers congressional elections. Congress und LIe WIILe House raised taxes on most Americans in 2013 wIIIe cuLLIng buck gov- ernment spending, and the austerity was a major IucLor IoIdIng buck eco- nomic growth. We ure usIng u coee cup to dig ourselves out of u bIg IoIe, suId uwrence Mishel, president of the Economic Policy Insti- LuLe, u IIberuI LIInk Lunk In WusIIngLon. usL week`s reporL, Iow- ever, did point to some encouraging develop- ments. The share of Americans living in poverty fell for LIe hrsL LIme sInce zoo6, dropping a half percent- age point to 14.5 percent. The Hispanic population registered the biggest de- cline. NeverLIeIess, LIe pover- ty rate was still 2 percent- age points higher than it was seven years earlier. usL yeur`s decreuse up- peared driven by fewer people relying on part- LIme work, us LIe survey found an additional 2.8 million Americans were workIng IuII-LIme durIng the year. That seems to be the main thing, said Charles NeIson, un omcIuI uL LIe Census Bureau. A family of two adults and two children is con- sidered to be living in poverty if they earn less than $23,624 per year, according to the Census Bureau. TIe WIILe House suId the poverty rate would be even Iower II IL Look into account food stamps und Lux breuks Ior Iow- income Americans, but IL ucknowIedged LIuL LIe typical family hasnt seen its income recover from the recession. The president will con- tinue to do everything in his power to ensure that Iurd work puys o wILI decenL wuges, WIILe House economists Jason Furman and Betsey Ste- venson said in a blog post. House Budget Com- mittee Chairman Paul Ryan, a Republican who unveiled an anti-pover- ty plan in July, said he hoped the report would spur WusIIngLon Lo ucL. If this report tells us any- thing, its that we can do better, he said. Reuters Boeing, SpuceX Win Contructs to Boild 'Spuce Tuxis' Ior NASA Irene Klotz and Andrea Shalal N ASA will partner with Boeing and SpaceX to build commercially owned and operated space taxis to y usLronuuLs Lo LIe n- ternational Space Station, ending US dependence on RussIu Ior rIdes, omcIuIs said. The US space agency also considered a bid by private- Iy owned SIerru Nevudu Corp, but opted to award long-time aerospace con- tractor Boeing and Califor- nias SpaceX with contracts valued at a combined $6.8 billion to develop, certify und y LIeIr seven-person capsules. Boeing was awarded $4.2 billion to SpaceXs $2.6 billion. SpaceX is run by technology entre- preneur EIon Musk, uIso LIe cIIeI execuLIve omcer of electric car manufac- turer Tesla Motors. SpaceX is deeply hon- oured by LIe LrusL NASA has placed in us, said Musk, u SouLI AIrIcu- born, Canadian-American billionaire. It is a vital step in a journey that will uILImuLeIy Luke us Lo LIe sLurs und muke IumunILy a multi-planet species. The awards position Boeing and SpaceX to be ready for commercial IgIL servIces In zo1;, suId KuLIy euders, mun- uger Ior NASA`s Commer- cial Crew program. She said both contracts have the same requirements. The companies pro- posed the value within which they were able to do LIe work und LIe gov- ernment accepted that, euders LoId reporLers. TIe conLrucL Ius Luken on new urgency given ris- ing tensions between the United States and Russia over its annexation of the CrImeu regIon oI UkruIne and support for rebels in eusLern UkruIne. Boeings CST-100 spaceship would launch ubourd ALIus rockeLs, buIIL by UnILed uuncI Alliance, a partnership oI ockIeed MurLIn Corp and Boeing. SpaceX, which already has a $1.3 bIIIIon NASA conLrucL Lo y curgo Lo LIe spuce sLu- tion, intends to upgrade its Dragon freighter to carry astronauts. NASA Ius suId LIuL In uddILIon Lo LesL IgILs, LIe awards would include op- tions for between two and six operational missions. By yIng usLronuuLs commercially from the UnILed SLuLes, NASA could end Russias mo- nopoly on space station crew transport. The agen- cy pays $70 million per person for rides on Rus- sian Soyuz capsules, the onIy IgILs uvuIIubIe Ior astronauts since the re- tirement of the US space sIuLLIe eeL In zo11. China, the only other counLry Lo y peopIe In orbit besides the United States and Russia, is not a member of the 15-nation space station partnership. NASA Ius spenL ubouL $1.5 billion since 2010 investing in partner com- panies under its Commer- cial Crew program. Boe- ing and SpaceX have won mosL oI NASA`s deveIop- ment funds. The companies retain ownership of their ve- hicles and can sell rides to customers outside of NASA, IncIudIng prIvuLe tourists. Reuters Myanmar Summary NASA astronaut Randy Bresnik prepares to enter Boeing's CST-1UU spacecraft for a t check evaIuation at the company's Houston Product Support Center. NASA wiII partner with Boeing and SpaceX to buiId commerciaIIy owned and operated 'space taxis' to Hy astronauts to the InternationaI Space Station, end- ing US dependence on Russia for rides, ofciaIs said. R o b e r t
M a r k o w it z / N A S A
f le / R e u t e r s / H a n d o u t A woman counts her US doIIar biIIs at a money changer. B e a w ih a r t a / R e u t e r s ~..q ~, _ ._ .: . ~ ~~~~ ...:..q.~... _ ~ .~ . q_ . ..,:~ . . . ~....'..|~.,..:~._. ~.,~~.. ~..q~,~. .:..:.._ _...._.. ~~ . ~ . . .:. : ~ .~~ . _ . ..q ... ., ...| .:q . -, -~.q..:~...:~q . -~.e ~.~ ~ . .: . ~ ..: ..'.: ~,, . _...._..~ ..'.: ~~ .: _.~~.:_.. .:q.~. ._:~q ~.q..|. .q . ._ ~: . . q._. ~.e ~.~ ~ . . ._ .: ~..q~,...~.~~- ~.~.:._.. ~,~.~~ -~ . ~ ,_ ...:~. ~ . ._ e. ~:~~.,:~ . .~ ..' .: ~~~ , . .| . ~ ~. .. ._ ~: . . q._ . ~..q ~, _ ._ .: . ._ ...:..q.~...~~. .~ q .,... ._ e _ ._ . .:. :._~:e..,._.._ ~ e.~,.~,.~_...~ q._. ,:.:._ , q :.~:~:. e: .:.~..' . . .,q. ~ ~. ..~ ~: . ~~: ~:~:...,..:.. ~:~:. e:...:. .e..:...._ . .. :._e. . . . . ~ ..: ~: ~: .~~ . ' ' .:. ~ ..:~ . . q, ~ . . SpaceX ~~:. .~e~~_e. .q..e.~._~:. .q._. ~..q ~, ~:~:._:,,:.: ._ Sierra Nevada Corp - ~. ~ . .. ~ . ... . ..:. . ..: ._ . ~: .q _ _ ~: ~:~:...._ ~: .. .. . ~ .:. ~ .. ~:. e ., . e:.. SpaceX ~ ~:. . . ,. . . ~:~:.e:e.:.~_ ..:~ .. ... ..: .. . ., . q, ....|...'.: ' ... . e ~, .:...:.~ .. . . ...._.._e.._. ~.._ ..'.: , ... .e~ qq._.. SpaceX ._ ... ' .e~, .:..~qq ._.._e.._.e. ~ . ~ .:.._ ~~ ~. . .. :. _e. ~:~:.. ..: . .:.~ ~_. .~. ..e: ..: ...q._ _e.._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com INVESTMENT & FINANCE 18 Myanmar Summary PetroleomBRLNII Signs Myunmur Oil Ixplorution eul Aye Myat B runeI NuLIonuI Pe- troleum Company Sdn BId (PeLroIe- umBRUNE) Ius omcIuIIy been awarded an onshore bIock In Myunmur Lo con- duct crude oil exploration in the country on a pro- duction sharing basis. Under the contract signed between the My- anmar Oil and Gas En- LerprIse (MOGE), PeLro- IeumBRUNE und IocuI hrm GE Ld In Nuy PyI Taw, the oil exploration will be done at inland oil bIock EP-1 In KyuukkyI- Mindon area in Magwe region, central part of the country. TIe BruneIun hrm wus uwurded LIe bIock on No- vember 19 last year after participating in the 2013 Myanmar Onshore Bid- ding Round. The onshore bIock Is IocuLed zo kIIo- metre north of Yangon, covering an area of 1,135 squure kIIomeLre. Hj Md Yasmin Hj Umar, Bruneis minister for en- ergy, who was at the sign- ing ceremony, said in car- rying out its operations in EP-1, PeLroIeumBRUNE is committed to ensuring high safety, environmen- LuI sLundurds und Lo work alongside the local busi- ness community. PeLroIeumBRUNE Is commILLed Lo IuIhI ILs ob- ligations under the PSC Lo expIore LIe bIock dIII- gently and invest in any commercial discoveries. He said following this signing, PetroleumBRU- NE wIII be curryIng ouL all the exploration activi- LIes In LIe bIock, IncIud- ing a seismic survey, en- vironmental studies and assessments. Exploration will go on for the next two years and is expected Lo sLurL In LIe nexL hve Lo six months, the minister added. In July, MOGE initiated contracts with British Vir- gIn sIunds-bused MPR E&P PLe Ld und Myun- mar Petroleum Explora- tion and Production Co to carry out improved petro- leum recovery projects at Lwo InIund bIocks In Pyuy and Myanaung. In early September, MOGE signed contracts wILI CunudIun hrm PucII- ic Hunt Energy Corp and local Young Investment Group Lo underLuke ex- ploration at other inland oII bIocks In nduw-Yunun and Taungoo-Pyinmana in central Myanmar. Indonesiun Bunk to Open Myunmur Omce in November Aung Phyo I ndonesias state-run Iender Bunk Neguru ndonesIu (BN) Is seL Lo open ILs hrsL represenL- uLIve omce In Myunmur In November, u Lop omcIuI said. TIe omce wIII IucIIILuLe the expansion of Indone- sian state-owned enter- prises in Myanmar, Indo- nesian media reports. According to the dep- uty general manager of BN`s InLernuLIonuI dIvI- sion, Rahmad Hidayat, LIe bunk Ius secured up- proval from the Indone- sias Financial Services AuLIorILy (OJK) und Ius submitted a proposal to LIe CenLruI Bunk oI My- anmar. BN`s bourd oI dIrecLors Iud meL CBM omcIuIs earlier and the latter had in principal approved the pIun, HIduyuL suId. We expect to acquire the of- hcIuI upprovuI soon, Ie was quoted as saying. TIe omce, wIIcI wIII be located in Yangon, will be joInLIy operuLed by BN and Indonesias state-run consLrucLIon hrm WuskI- Lu Kuryu (WSKT), wIIcI has already secured a $125-million contract to build a commercial tower in Myanmar. The con- struction will begin in OcLober und wIII Luke Lwo years to complete. BesIdes WSKT, LeI- ecoms services provider TeIekomunIkusI ndone- sIu nLernuLIonuI (TeIIn) part of state telecom- munIcuLIons hrm TeI- ekomunIkusI ndonesIu and lubricant producer PerLumInu ubrIcunLs - subsidiary of state oil and gas company Pertamina are reportedly joining the line-up of Indonesian state enterprises expand- ing into Myanmar as well. BN uIso Iopes Lo creuLe partnerships with Indo- nesian private enterprises that have already estab- lished their presence in Myanmar, such as poultry An empIoyee (C) of PT Bank Negara Indonesia taIks to a customer in ]akarta. B e a w ih a r t a / R e u t e r s hrm JupIu ComIeed und pharmaceutical company KuIbe urmu. To better facilitate the LrunsucLIons, BN Ius begun cooperating with IocuI Iender Kunbuwzu Bunk und Is IookIng Lo work wILI Co-operuLIve Bunk (CB) Ld. Myanmar Summary ~.,.q:... Bank Negara Indonesia ~ (BNI) ._ _.,.:.~ ,.~-.....~..q.,. ~ .~:._ e...:.._ e .q._. e.,.._ ~.,.q:.. ...,..:. _.,.:.~ .q:_ ...~_....__e. ._~: . . q._ . BNI - . ~~:_:,..~.:~~. . ., .,:-~. ~q._ ~._ ~.,.q:..._~. ~,..:.~:~:. (OJ K) . ._..~qq:._.. _.,.: . -e~ ~._..: ~..:.._~:. .q._. q,~,~ e..._ e.,. ~ BNI . ~~ _.,.:. ~ ... :..q.~. _. ~..:~ ~~ ~_ ..:~ q, ..'.: ~ ., .~, .:. . qq :. ..:~.,.q:... ..:~ ...q...,. WSKT ~~ ..~~~e.:..__e.._. ,..~...:..q,~.~ (Petroleum BRUNEI) ._ _., .:. ~ .q, . . .q :.e ~..e:q, ~~.~_.~..~.q. .,. _e ~ , .~ .. . ~ ~ ~. . ~q:.~qq.._~:. ~_., :.._._.,.:.q,. .:~ .:~...,. (MOGE) . Petroleum BRUNEI . _._~..~e~..,. IGE Ltd ~ .,_._.~:~ .q.. . ..:.:.. ~q. ~.e . . ..~ .~ ...._~ . .~:~ _~ . ..~,....q ~,.~..q, ..~~~.~ EP-1 ~ .q, q :.e ~ ..e: _. .. . ~ .__e.._. ~~, . . . ~ _ . . . ..: ~ , .~ ..q, ~ .|..'e . ~ .|~e_.._...,:~ e. , . .. . , .._ .. ~~~ .~:. ~ q~~ qq . _. ._e. _ . ~ , .~ .. . ~~._ q,~,_.._.:~.. ~..~: ~ ~~:~q_.. .~q,.~..~: ~,~, ~e ~,.._..q,..~~~ .. ~q:_ PetroleumBRUNEI ._ . _. .q.. .:~.~ ~, . ~.q: . . , . , ..:.. ~_ ..: q ~ . :.._ _e. _. . .... . .. :..q.~. ~ ~~, . . ._ . . ...| ...: q ~ . :. ._ _e. ._~:.~~ _.:.._ . PetroleumBRUNEI ._ ._ .. :~ .~ :_ . . .:~ .~ ~, .~ .. .:_. ..._ q:.e.,..._....,..:.~ ..: q ~ . :.._ _e. ._~: . ._.:_~:.:.._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com INVESTMENT & FINANCE 19 Myanmar Summary David Mayes I wrote about real estate investing in Myanmar for you average Joe IusL week, buL wIuL ubouL those of you out there who are a little more adventur- ous? WILI LIe openIng up of Myanmar, surely there must be opportunities abounding in the tour- ism sector as well? The fact is that for those with u IIgI LoIerunce Ior rIsk, uncertainty, and good old fashioned adventure, there may be still some of the most amazing oppor- tunities to get in early on tomorrows big destina- tions. As the saying goes, the early bird gets the worm. I you Iuve Iooked uL prices in the most popu- lar beach destination in Myunmur, NgupuII, you are probably aware that you would not exactly qualify as an early bird if you wanted to develop something in the area. Yet, what about the other LIousunds oI kIIomeLres of coastline in this coun- try? L Is LougI Lo know Ior sure exactly which towns, beaches, or even regions will become the favourites of tourists in the coming decades, but I have a few ideas that I would give a try if I was in a better po- sILIon Lo Luke on LIe rIsk. I could see several areas that hold a lot of promise but are virtually undevel- oped yet. The Mergui Islands are one area. Of course there are so many islands, it is anyones guess where if anywhere will eventually get an airport and begin to develop some tour- ist infrastructure. As it is now the area is only ac- cessible by boat, and even II you ure noL keen Lo In- vest there it may be one of the last chances to visit such an unspoilt paradise if you were to head there now. Another area is the en- LIre cousLIIne NorLI oI where Thailand runs into Myanmar. The tourist trail is already developed right up to where visa-running tourists have been cross- ing into the country from Ranong for many years. As it stands now the rail- roads dont go continu- ously from Yangon this far souLI. TypIcuIIy IgILs or overnight ferries are need- ed, but this added adven- ture may lure in adven- Lure seekIng buckpucker types. If you remember it adventurers such as these who originally discovered pIuces IIke PIukeL und KoI SumuI. Mon state is another stretch that holds prom- The Iurly Bird Gets the Worm ise. There is so much un- explored coastline and for LIe momenL IL Is IIkeIy Lo stay this way because it Is sLIII reIuLIveIy dImcuIL to explore. However, as DuweI deveIops IL Is IIkeIy that you may see similar developments close by Lo uord expuL workers u pIuce Lo bIow o sLeum nearby. I have a friend liv- ing in Ye and his wife has opened LIe hrsL IoreIgn- er-oriented guesthouse. Slowly they have seen an increase in the tourist numbers. Keep In mInd this region of Myanmar only re-opened to foreign- ers IusL yeur, LuIk ubouL getting in early. L Is LougI Lo know wIIcI areas of the thousands oI kIIomeLres oI cousL- line will become the new PIukeLs, KIuo uks, und Railays of Myanmar, but it almost certain that as the infrastructure grows in the coming decade cer- tain areas will experience phenomenal rates of de- velopment and the early birds really will get the big worm. As Thailand continues to get more expensive and geared to mass tourism from places IIke RussIu und CIInu, neighbouring Myanmar, having retained its natu- ral charm, will no doubt be receIvIng LIose kInd travellers who once upon u LIme puL pIuces IIke KoI Samui on the map. David Mayes MBA provides wealth man- agement services to ex- patriates throughout Southeast Asia, focusing on UK Pension Trans- fers. He can be reached at david.m@faramond. com. Faramond UK is regulated by the FCA and provides advice on pen- sions and taxation. Myunmur Sees Ioreign Investment Topping $gb in o1q-1g Aung Hla Htun M yanmar has re- vised its forecast for foreign direct InvesLmenL (D) Lo more than $5 billion for the hscuI yeur LIuL begun In AprII, u senIor omcIuI suId IusL week, surpussIng eur- lier expectations and led by new ventures in energy and telecoms. TIe hgure exceeds un earlier estimate of $4 bil- lion, with investments In LIe hrsL hve monLIs oI LIIs hscuI yeur worLI $3.32 billion, said Aung NuIng Oo, secreLury oI LIe government-run Myan- mar Investment Commis- sIon (MC). That sum was more than half of the annual target set earlier and up 113 percent over the corresponding pe- riod a year prior. Considering the rap- Id growLI In LIe Inow oI D In LIe hrsL hve monLIs durIng LIIs hscuI year, weve revised our es- timates, he told Reuters. It will be over $5 billion. The surge in investment follows a series of politi- cal and economic reforms launched three years ago by President Thein Sein, a former general who has overseen Myanmars transition from decades of military rule and inter- national isolation. The suspension of most sanctions by the Europe- an Union and the United States, in place since the 1990s over the poor hu- man rights record of the former junta, has allowed more InvesLmenL Lo ow into a country rich in en- ergy and mining resourc- es and strategically locat- ed between India, China and Southeast Asia. Aung NuIng Oo suId 31 percent of the invest- ment received by the end of August was in the tel- ecoms sector, with 23.8 percent in oil and gas and 18.4 percent in real estate. Hotels accounted for 13.3 percent and 8.1 percent went into manufacturing, primarily garments. Total FDI stood at $4.11 bIIIIon durIng LIe hscuI year to March 2014, up sharply from $1.42 billion a year earlier. That com- pares with $329.6 million in 2009-2010, a year be- fore the new government Look omce und emburked on reforms. Despite its business potential, Myanmar still trails neighbouring mar- keLs In Lerms oI IoreIgn investment this year. Thailand received $6.8 billion in the period from January to June, accord- Ing Lo LIe cenLruI bunk, while Vietnam recorded $7.9 billion of investment Ior LIe hrsL eIgIL monLIs of 2014. Reuters Myanmar Summary The underdeveIoped Mergui IsIands (Myeik ArchipheIago) in Myanmar is an area that hoIds a Iot of prom- ise in terms of investing in hoteI and tourism in the recentIy opened country. 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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com INVESTMENT & FINANCE 20 Cunudu Muy Give PreIerentiul Trude Benets to Myunmur Phyo Thu T he Union of My- anmar Federation of Chambers of Commerce and Industry (UMCC) suId Myunmur Is IIkeIy Lo receIve Lrude preferences from Canada after its representatives met with Canadas inter- national trade minister Ed usL In Nuy PyI Tuw late August. The meeting concen- trated on the inclusion of Myanmar in Canadas generalised scheme of preIerences (GSP) und LurI concessIons Ior IeusL developed countries. In addition to these con- cessions, we would hope to promote investment from Canada. Myanmar is one of the countries targeted in |Cunudu`s| GIobuI MurkeL Action Plan, Ed Fast said. Trade concessions, when granted, can boost bilateral business rela- tions and boost Canadas investment in Myanmar by strengthening mutual trust, local traders said. [The interest of] the country is prioritised. WIen LIe negoLIuLIons bear fruit, it will be ben- ehcIuI Lo LIe deveIopmenL of bilateral trade and business relations, said U WuI PIyo, vIce presI- dent of UMFCCI. New bIIuLeruI Lrude agreements, such as the one with Canada, is ex- pected to encourage ex- ports urgently needed to decrease Myanmars ever-wIdenIng Lrude deh- cit. Myanmar Summary Canada`s InternationaI Trade Minister Ed Fast at an event. A d r ia n
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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com INVESTMENT & FINANCE 21 Myanmar Summary Myunmur in The Midst oI Toorism Boom Michael Nesbitt G rowing interna- tional interest in Myanmar, follow- ing the easing of sanctions by LIe WesL, Ius Ied Lo u period of unprecedented growth in the tourism industry and has seen visitor numbers soar to 2 million last year from 300,000 in 2010, accord- Ing Lo governmenL hgures. ArrIvuIs In LIe hrsL sIx months rose 43 percent year-on-year to 1.6 mil- IIon, uccordIng Lo om cIuI numbers from the Min- istry of Hotel and Tour- ism, which has a full- year target for inbound visitors of 3 million. The WorId TruveI und Tour- Ism CouncII (WTTC), which analyses the sec- tors performance across 184 countries, expects Myanmar to feature on its list of the top ten fastest- expanding tourism indus- tries globally. usL yeur, LIe dIrecL contribution from travel and tourism to GDP stood uL K8qq.6 bIIIIon, or 1.6 percent of GDP, accord- Ing Lo LIe WTTC. TIe Lo- tal contribution to GDP, wIIcI Lukes InLo uccounL LIe wIder eecLs Irom investment, the supply cIuIn und Income eecL, reucIed K1.q; LrIIIIon ($z.oz bIIIIon) IusL yeur, or 3.7 percent of GDP, and is forecast to rise by 9.2 percent in 2014. How- ever, if Myanmar achieves 50 percent growth this year, as targeted, the rev- enue hgure Is IIkeIy Lo be u lot higher. At the same time, fears that accelerated growth could negatively impact the quality of service and prized attractions, if left uncIecked, ure spurkIng calls from some industry players for a more cau- tious pace of develop- ment. 1ncreosing orriools ond inoestment Alongside the surge in visitor numbers, Myan- mar has witnessed a sig- nIhcunL rIse In InvesLmenL during the past three years, with a raft of new hotels and infrastructure developments providing u boosL Lo exIsLIng sLock. The number of hotels registered in Myanmar reached 1,019 at the end of July, up from 960 re- corded in March, accord- ing to the ministry. After nearly 50 years of stagnation, the hotel industry has experienced exponential growth since zo11, SukIdeep SIngI, general manager of Inya uke HoLeI, LoId OBG. The huge increase in tourist arrivals has led to high occupancy rates. WIIIe new deveIop- ments pushed up hotel sLock by more LIun 1o percenL durIng LIe hrsL IuII oI zo1q und Look room numbers to in ex- cess of 35,000, the indus- try will need to maintain momenLum II IL Is Lo keep pace with the rise in tour- ist arrivals. Infrastructural im- provements will also have u key purL Lo pIuy In IucIII- LuLIng growLI. EorLs Lo hII LIe gups ure uIreudy under way, with a new uIrporL eurmurked Ior Hanthawaddy, outside of Yangon, which is sched- uled to open in 2016. The airport will be capable of handling 10 million inter- national passengers an- nually, doubling current capacity levels across the country. Upgrades are also planned for existing facilities to support the initiative. Fi ndi ng a balance WIIIe LIe rIse In vIsI- tor numbers signals good news for both the tourism industry and Myanmars broader economy, con- cerns are growing that the rapid pace of develop- ment could put a strain on resources. Industry players have highlighted the impor- tance of ensuring future growth is sustainable. NeguLIve pubIIcILy ubouL disappointing travel ex- periences travels faster and reaches more people than the positive stories, runk JunmuuL, munug- ing director at Yangon- bused IgILIouse HospI- tality Consultancy, told OBG. Under current circum- stances, trying to attract the highest number of tourists might be counter- productive for the image of Myanmar as a travel destination. The country is also missing a sound regula- tory environment, which may well prove crucial in providing protection for historical and natu- ral places of interest. Myanmar has only just opened up, U Aung Soe Tha, chairman of Myan- mar Combiz Travels, said, wIen speukIng Lo OBG. We need Lo Improve rules and regulations within the tourism sector to protect local business. Exploring neu mor- kets WIIIe Myunmur wIII need to address these is- sues, the potential for fur- ther expansion remains Iuge. WesLern Europe, In purLIcuIur, oers sIg- nIhcunL scope Ior growLI. Tourists from the conti- nent accounted for 17.6 percent of all arrivals in zo1, sIgnIhcunLIy Iewer than the number of visi- tors from Asian countries, who made up 70 percent of all international arriv- als, according to Myan- mar tourism statistics. Stronger promotional activities in Europe, and closer to home in Oce- ania, could help broaden Myanmars appeal, while niche attractions, includ- ing casinos, are being con- sidered. The Ministry of Hotels and Tourism con- hrmed uL LIe begInnIng of September that legisla- tion enabling casinos to be established in targeted tourism zones, catering solely for foreigners, was being drafted. At present, gambling operations in Myanmar are illegal. Despite a strong perfor- mance from the sector in 2013, Myanmars visitor numbers remained sig- nIhcunLIy beIow LIose oI its peers, including Viet- num (;. mIIIIon), ndo- nesIu (8.8 mIIIIon), Mu- IuysIu (z.; mIIIIon) und regional leader Thailand (z6. mIIIIon), uccordIng Lo hgures Irom LIe WorId Tourism Association. However, the fast pace of growth, combined with Myanmars huge poten- tial, suggests the target of welcoming 5 million ar- rivals in 2015 may well be achievable. Michael Nesbitt is edi- torial manager for My- anmar at Oxford Busi- ness Group (OBG), and is in charge of producing sector specijc resecrch in Myanmar. Tourist are seen in front of a hoteI in NgapaIi Beach in Rakhine state. S h e r p a
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numbers, Myanmar has witnessed a significant rise in investment during the past three years, with a raft of new hotels and infrastructure developments providing a boost to existing stock. _ ., .:. ~..' ~.,:~ ~. :. . .. :..q.. ~ . . .:. ._ e..:_...,:~ .~~:. . ~ ~ .:.. _ . ~~ .:._ ~~ ~ .q .. :.. . , .~_. : ._~ e .._ e _e .. ~:.~ _e~ .,..,q_.. .q..:.~.q:~. .: ~~~ ~ ,~~,~~~ .: q.q:. e.,..~ ...,. ~ _. ~~ .:. ._ .e. . .. .._.:~.~~. ._.:. -_._~.q:~..: ~ ... ' .,.q.:_ ..~.~ ,, q:. . , ._ . ~~ .:._ ~: . e ~e . .q .. :..:.q.~, _~ . _:,. .q._. e.~... ..~~~ .q..:. ...,. ~ .q:~ q, ..: . , .:.._~: . ._. .q._. . ~, .q .q . . :. . . , . ~_.:. ~ .. .:..: ~. : .q . . :. .~:. (WTTC) ._ _.,.: .~:. .q..:...,.e_e.. ~_., . .. .e . ~ _ . .. ._ e ., . , .:.._ ~: . .q._. _. .. ._ . . ~ GDP ~~ ~ .q..:...,.. ~~,~_e_ ._......: ~. , ... ' .e ..e~ ~ ... 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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com INVESTMENT & FINANCE 22 Myanmar Summary Myanmar Summary Myunmur Investments to Ruise Iqoity Ior Iorther Investments Kyaw Min M yanmar Invest- ments Interna- LIonuI Ld suId it is in negotiations and evaluating investments in telecommunications infrastructure, IT servic- es, equipment rental and education. The company also said IL wIII be IookIng Lo ruIse additional equity to fund further investments. usL hscuI yeur, AM- traded investment com- puny opened un omce In Yangon. AIM, formerly the Alternative Invest- menL MurkeL, Is u sub- murkeL oI LIe ondon SLock ExcIunge, uIIow- ing smaller companies to ouL sIures wILI u more exIbIe reguIuLory sysLem than is applicable to the muIn murkeL. TIe hrm dIdn`L concIude an investment until last month, when it acquired a 55 percent shareholding In mIcrohnunce Ioun pro- vider Myanmar Finance nLernuLIonuI Ld. In a very short time we have established our presence in Myanmar, not just physically but also in the wider business and regulatory communities, Managing Director Aung Htun said in a statement. WIIIsL we mIgIL Iuve hoped to achieve more In our hrsL yeur, we ure nonetheless pleased with LIe resuIL gIven LIe dIm- cult operating conditions that prevail in Myanmar Loduy. We Iuve kepL u very tight rein on over- heads and yet have built up un eecLIve Leum oI In- vestment professionals, he said. As a result, we have jusL concIuded our hrsL investment and have built up a diverse pipeline of further investment op- porLunILIes. We Iope Lo build on this momentum in the months to come. NY Iorom Aims to Promote Myunmur Investment Htun Htun Minn T Ie hrsL Myunmur n- vestment Outreach forum, which in- volves senior government omcIuIs und u IosL oI IocuI and foreign businesspeo- ple, is eyeing to promote international investment in the impoverished South- east Asian country. The forum, titled My- unmur: AsIu`s usL Iron- tier, is organised under the patronage of Myan- mar Investment Commis- sIon (MC) und LIe PresI- denL`s Omce und joIned by Myanmar companies and Peninsula Press, and will Luke pIuce In New York on September 24, Headed by Minister for LIe PresIdenL`s Omce U Soe Thane, the Myanmar delegation attending the forum comprises Minister Ior Energy U Zuy Yu Aung, Minister for Tourism U Htay Aung and Myanmar Ambassador to the United SLuLes U Kyuw Myo HLuL, as well as other senior bunkIng und udmInIsLru- LIve omcIuIs. U Soe Thane said Myan- mar welcomes investors from low-cost and labour intensive industries such as garments, textiles and footwear, adding that part of the governments strategy to reduce poverty and promote rural devel- opmenL InvoIves seekIng investment in sectors that can create good-quality entry-level jobs. The organisers said one oI LIe key uIms oI LIe Io- rum is to ensure foreign investors that Myanmars political and economic reform process is still on Lruck despILe LIe InevI- table challenges and set- bucks LIuL oILen domInuLe newspaper headlines. Various major multi-na- tional companies based in Myanmar will have their executives present and speukIng uL LIe Iorum. At the press conference, Ramona Tarta, regional director Peninsula Press, the organiser of the event, said the forum is a real milestone for the private sector, while U Htay Aung, who is also vice chairman of MIC, called for promoting Myanmar as a destination for tour- ists and investment. Director General of the Directorate of Invest- ment and Company Ad- mInIsLruLIon U Aung Nu- ing Oo said at the press conference that foreign investment in Myanmar has been on rise year-on- year, receiving $4.107 bil- lion annually in 2013-14, up from $1.419 billion in 2012-13. He said the government has drawn a 20-year long- term investment pro- motion plan 2011-2030, wIIcI cuIIs Ior dIversIhcu- tion in economic develop- ment and worldwide in- vestment. Myunmur to Issoe New Kg,ooo Bunknotes Htun Htun Minn T Ie CenLruI Bunk oI Myanmar will issue K,ooo bunknoLes in a new design aimed at increasing its security and prevention from for- gery, state-run radio and TV announced. TIe new bunknoLe wIII be put into circulation starting October 1, it said, adding that the existing K,ooo currency noLes will remain legal. TIe CenLruI Bunk InLro- duced LIe K,ooo bunk- note on October 1, 2009. TIere ure 11 kInds oI bunk noLes currenLIy In circulation in Myanmar wIIcI ure K1, K, K1o, Kzo, Ko, K1oo, Kzoo, Koo, K1,ooo, K,ooo und K1o,ooo. W a i L in n
W e s t e r n Best Western Signs eul to Open Iirst Munduluy Hotel May Soe San A merican hotel cIuIn BesL WesL- ern International Ius emburked on LIe nexL stage of its expansion in Myanmar with the sign- Ing oI ILs hrsL IoLeI In LIe countrys second-largest city Mandalay. The Mandalay opening will continue the hotel chains recent expansion in Myanmar, which start- ed in 2013 with the open- Ing oI LIe BesL WesLern Green Hill Hotel in Yan- gon. This opening made BesL WesLern LIe hrsL US- based hotel group to re- enter Myanmar since the country opened up to the international community. Since launching last yeur, BesL WesLern Green Hill Hotel has experi- enced strong demand from both international business and leisure trav- eIIers. We see Iuge poLen- tial in Myanmar and plan Lo deveIop u neLwork oI hotels across the country. TIe sIgnIng oI our hrsL IoLeI In MunduIuy Is u key step towards achieving this, said Glenn de Sou- zu, BesL WesLern nLernu- tionals Vice President of International Operations for Asia & Middle East. Myanmar has made re- murkubIe progress In re- cenL yeurs und BesL WesL- ern is delighted to be able to continue our develop- ment in the country, de Souza added. Scheduled to open in the third quarter of 2015, the new midscale hotel will feature 108 rooms, equipped with ameni- LIes sucI us CD TVs und compIImenLury WI-I, BesL WesLern suId. In addition to the mid- scale properties in Yan- gon and Mandalay, Best WesLern prevIousIy un- nounced plans to open a Iuxury BesL WesLern Pre- mier hotel in the capital Nuy PyI Tuw. De Souza said he sees potential for all three of BesL WesLern`s producLs - mIdscuIe BesL WesL- ern, upper midscale Best WesLern PIus und upscuIe BesL WesLern PremIer - in Myanmar. At present Myanmar is experiencing a strong level of new hotel devel- opment, but much of this is concentrated in the higher ends of the mar- keL. WILI BesL WesLern`s experience in the mid- scale, upper midscale, upscale segments, and a choice of products that cun be LuIIored Lo dIer- enL murkeLs, we Iuve LIe opportunity to create new demand and drive busi- ness across the country, he said. TIe new BesL WesLern hotel in Mandalay will join the companys exist- ing portfolio of almost 200 hotels and resorts either operating or under development across Asia and the Middle East, in- cluding 86 in Southeast Asia. The company said it expects to increase its re- gional collection to 300 properties in the next few yeurs. BesL WesLern hrsL launched in Asia & the Middle East in 2001 and now covers 27 countries in the region. Myanmar Summary Wijuyu Kuryu Bugs $1gm Constroction Contruct in Myunmur Aye Myat I ndonesias state-run consLrucLIon hrm PT WIjuyu Kuryu Tbk (WIku) suId IL Ius secured a project worth $125 mil- lion to develop a commer- cial tower in Myanmar. WIku, ndonesIu`s Iurg- est construction compa- ny, and its partner, Sin- gapore-based high-end deveIoper NobIe TwIn Drugons PLe Ld, sIgned a deal to build the mixed- use Pyay Tower and Resi- dences in Yangon. The company will be the sole contractor in the con- struction of the tower. WIku Is proud Lo Luke part in [the construction of] Pyay Tower, which wIII be u Iundmurk In Yungon, WIku presIdenL director Bintang Prabowo said in a statement. Pyay Tower will have z oors und LIree buse- menLs. TIe hrsL hve oors will be dedicated to com- mercial use while the up- per oors wIII Iouse omc- es. WIku wIII commence construction in October und Is scIeduIed Lo hnIsI the project in two years. WIku corporuLe secre- tary Suradi said the com- panys entry into Myan- mar was in line with its mission to become a big player in the region. TIe hrm Is uIso reporL- edly planning to construct oI represenLuLIve omces oI sLuLe-run Iender Bunk Ne- guru ndonesIu (BN) und oil company Pertamina in Myanmar. Myanmar Summary D a n ie l P r a b o w o / K o n t a n ~ . , .q :.. . ..:~ . . .q.. . , . WijayaKarya ~ _., .:. ~ ~..q ~, ..' .:~., .~, e .q . .. :..q.~ ..:~ ~~ ~. . ~ ~_ ..:~ q,...,._e .q._. ~..|~.~._,.-.~ e~_e.._ .~:.~._..~ Noble Twin Dragons Pte ~.~. q,~,_. _._~:~| ~._ q ~..:~ ~~ ~. . ~_ . .:~ q, ..: ~ .~. ~ .q. .. ._ e . q._ . ~..q~,e~e..,.~ _~ . Best Western International ._ _.,.:.- .~e~_~. . ._. .~: .. ...~ ... . e ~e e . . q, .~ . ~ .q. . . ~ _ . ._ e _ ., .:. ~ . . , .. . .,:~ ~. . ~ ~~.....:q~.~_. _e.._. .. ...~ e ~e e . . _...: ~~, ...~ q,~, _ Best Western Green Hill Hotel e.._ _.,.:.~ .~ . . , .. _ . .~:. .~ .~ .e: ..: _ . ._ e. ._. Best Western ._ _.,.:.~ .~~:~.. ~~.. ~.|.e.~..:_.. .,:~ ~ _., ._ ~ .q:~ .:..: .... ~..q~, ~._..~e~e..,.._. _e.._. ~~ ~~e....~~ e . . q, .~ . ~ :...: e .~.~ .:.e ~e ._ ~.,...|. ~~ .,..|~~: ~.,..:.~ LCD ~-.:.. ~.. ~ e .._ ~ .|~ ._ _e.._~:. Best Western ~ .._.q,~,. .....~q ~.~ .:.e ~e . :.~_ . .,_._.~:~Best Western Premier hotel ~._.e.. q, ...,._~:. .q._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 24 Myanmar Summary PROPERTY & REAL ESTATE YCC to Boild Yungon's Second Commerciul Centre Htun Htun Minn T he Urban Plan- ning Department of the Yangon City Development Committee (YCDC) suId IL wIII begIn the process of establish- ing Yangons second com- mercial centre later this year. The commercial center is planned to accommo- duLe omce spuce Ior IocuI and foreign businesses, shopping malls, retail centres and be a one-stop shopping outlet similar to the current one in down- town Yangon. The project is slated to be built on a 36-acre area where the Myanmar Con- venLIon CenLer (MCC) Is located on Mindama road in Mayangone township. PeopIe Iuve Lo ock Lo downtown to access com- mercIuI buIIdIngs, omces and retail business and services, fuelling con- gestion and overcrowd- Ing downLown. We Iope to alleviate the pressure by establishing another commercial zone, U Toe Aung, director of the Ur- ban Planning Department told Myanmar Business Today. The new commercial center will bring about further development in the surrounding town- ships of Hlaing Tharyar, Shwe Pyi Thar and South und NorLI Dugon, U Toe Aung added. The project is anticipat- ed to expand job oppor- tunities, ease the publics commute by providing an alternative commercial destination and reduce the time and cost of oper- ating businesses. A projecL IIke LIIs should have been imple- mented earlier. But we welcome it anyway. It just needs Lo be eecLIveIy implemented, Daw Yi Yi Myint, an economic ex- pert, told Myanmar Busi- ness Today. The project, which does not include residential zones and manufacturing industries, is projected to Luke hve yeurs Lo be IuIIy implemented. IiIteen Illegul Boildings to be emolished Htun Htun Minn Y angon City Devel- opment Committee (YCDC) unnounced that 15 illegally construct- ed buildings will be de- stroyed in September. This announcement cume onIy u week uI- ter Mayor U Hla Myint warned that illegal build- ings would be dealt with by possible demolish- ment. YCDC has sued approxi- mately 2,000 landowners for constructing buildings without proper permits. TIIs Is LIe hrsL LIme LIuL YCDC wIII Luke sucI uc- tion, demonstrating its commitment to increas- ing the building standards of the city. Despite facing such le- gal action and the suspen- sion of projects, the illegal construction of buildings has not declined so we are now considering the wreckIng buII opLIon, said U Hla Myint. The regional govern- menL Ius Luken ucLIon against nearly 200 con- tractors and engineers, which has included the suspending their licences. So far, 91 contractors and 94 engineers have faced the suspension of their licences, according to YCDC. An additional 152 in- dividuals have been warned, 15 people have been bIuckIIsLed - u pub- lic report created to warn potential customers and one person has been per- manently banned from the business, YCDC said. In an attempt to deter q, ~ , _. -. ~ e._.:~ -e . .. :..q.~ , ~ ~~, . . ~ , . . ~ ~.~:~_.e:..: q ~ . :.._ _e. ._~: . q, ~ , _. .~: ._ . .:e:.q..~: .~ _._...~,._:,.. .q._. -e . . . :. .q. ~ , . ._ .: _._ .. ~ .q:~ .:._ q .. . _. . . . . . , .q .:.-, .. ~ q, ~_ .,q:. ~. . ~ .:. _ e_ ._ . . .q. ~.| ~~ .q: . . ..: .:. Fashi on Center .:. .~..~..: .._..:. .q:.~e.e:~~:. . ._ ~..:~ ~~ .:.. q,~,_. ~.~. .~..~ .:. ~:. ~. .,q:~_ . ~ . ._ ....:.._ ~. ~. .:. _e.._. ~..|..~,.~:. .q..~,. _.,e .......q _.,.: ~ , - . q . . ~: (MCC) ~..:~ ~~ ~_ q ._ ._.-~ ,' -~.~:~ ..:q~ .__e.._. . . . :. .q. , .~ . ~ ~..:~~~.~ ,._:,.~ .,:~ ~. . ~ ~.:. _ ._ . .q:.~e.e:~~:.._...~ . ~. .~..: .. _ ..~ , .~.~.:q q,~,_.~. ~ . . _ . _ . ..:.,q~e . ~ . .~: . ..q. . ._ .. ~._ . . .:..:~e .~ . .~: . . . . .,:~.~,~.. .e:..: ....~q ~._~.~q.e _..,:.~ ..: ,_ ..:.e . ..: . .|~e ''e _. _.. . ~ , . _:,. , _~:..q.. . .~ ..~: ~ ._.:._. . . . . ~ , .. .. ~:~~. .q ~.,, ..:..:. .~~_ .~ ..:q~.~:.|. .|.... ~....:q~e ...:~: ~._. _~..|~e. ~., ~~e _e. ._.:~ .~: ~.~: ~_.e:...e. .~:.|''e ...:..q.._:q ..'qq_.~ .._. e.~...:q~_..~:. _e ~. . ~~ ~. ~.. . .:. ~..:..:._~_. ~.:. _._ . . :..:.q.. e ~ . _. . ~.,~,.~.:_.. .._~. ~,~. ..:,_..:_. .~.q ._~~..~.~..:. . .:.qq .._. _. ~..|.,q:. ,... ._ ..:e: .q_._.: ..~:,._.:~.._ _.,e .:..._. e_e.....:. ._~:. ,.~ .,.,.._.:. ._ .. . ~ , ..~: _. ._ ~ ~.~:~_.e:q, ~., |.. . ., _~:_. . _. . , .~ , ~ .~ . . . , ..:.. . .,~ . q: .:..|~ ._ .e ~ e q, ~ , _. .~: ._ . .:e:.q..~: .~ . .q._. illegal construction, the government is trying to reduce the red tape in granting construction permILs und heId Inspec- tions, the Mayor said. Currently, there are more than 2,000 illegal buildings in Yangon with most of them located in Thingangyun, Hlaing, SouLI OkkuIuppu, nseIn, Mayangone, Daw Pone, SuncIuung und Kyee- myindaing townships, ac- cording to YCDC. Myanmar Summary q,~,_.~ .~~:. ~~ . ~q:..~ ~..:~ ~~ ~~~ .~:~,~ ~ ..~:. _e e~ q, . . :.._~: .q, ~ , _. .~: ._ . .:e:.q..~: .~ . .q._. ~q:..~ ~..:~ ~~ ..:~ ..:.._._.q~~~ .~: ~._. ~.e~: ~.q.e :.._~,~ e. ~ ..~ .~~.q.e_..e q,~,_. .~: ._ . .:e:.q..~: .~ . .q._. .~q q,~,_.~ ~q:. .~~..:~~~.:. .. ..:~ . . .:.| ~ ~. .| ~..:~ ~~ .:.~ _e e~ ._ ~ ~.q.e ..: q ~ . :.._ e q, ~ , _. .~: ._ . .:e: .q..~:.~. .q._. e. ~. q,~,._.. ~.q.e .,..: ._ . ~q:..~ ..:~ . . . .:. ..: ~. :._. ..q ...... O liv e r
S lo w September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com AUTOMOBILE 25 New Toyotu Showrooms, Service Centres to Open Next Yeur Tin Mg Oo N ew Toyota car showrooms and service centers will be opened in Yangon und Nuy PyI Tuw In zo1, U Myo Myint Thein, gen- eral manager of TTAS Co Ld - ToyoLu`s uuLIorIsed dealer in Myanmar told Myanmar Business To- day. Toyota has only one showroom [in Myan- mar], one service cen- Lre on Kubu Aye Pugodu road in Yangon and an- other one in the western part of Yangon focusing on body frames. Toyota will distribute brand new cars, which are suitable for Myanmar, U Myo Myint Thein said, adding that the Myanmar mar- keL remuIns IurgeIy over- whelmed by used cars and IL wouId Luke un exLended period of time to increase demand for new cars among the majority of the murkeL. New ToyoLu uuLomo- biles are equipped with automatic airbags and unLI-Iock bruke sysLem (ABS), wIIcI IucIIILuLes suIe brukIng. Mercedes-Benz Luonches New C-Cluss in Myunmur Phyo Thu G erman luxury car- muker Mercedes- Benz has launched its new C-Class model cars in Myanmar in a bid to gain a stronger foot- hold in one of its newest murkeLs. The new C-Class has come into four model lines the Standard line, LIe ExcIusIve Ine, LIe AvunLgurde Ine und LIe AMG Ine, wIIcI Is u sportier version of all the four. Cycle & Carriage Auto- mobIIe Myunmur Co Ld, the authorized dealer for the car brand, said it is ConhdenL LIuL Myunmur people will be excited with the C-Class model. The car comes with a Touch Pad system which can control the whole car, a dashboard at the front wIndow und un ED n- LeIIIgence IgIL SysLem. The new C-Class is open for test drives until the end of September at Mer- cedes Benz showroom on Pyay road in Yangon. Additionaly, the com- puny Is uIso oerIng gIIL vouchers worth $2,000 to spend at Mercedes-Benz Boutique Corner inside the car showroom this month. There is a special service puckuge Ior every pur- chase: two-year warranty for unlimited mileage, complimentary three- year free servicing for engIne oII, oII hILer, bruke uId, uIr hILer und dusL hILer, und compIImenLury paint protection plan. If the new Toyota cars imported into Myanmar breuk down In LIe hrsL three years, or within the hrsL 1oo,ooo kIIomeLers, the repairs will be han- dled by Toyotas service center at no cost, he said. All new cars are dis- played at the showroom have never been driven as they have been trans- ported from the port to the showroom via car- rIer Lrucks und Iuve uIso gone through a series of mechanical and bodily in- spections, he added. A new Toyota ranges in prIce Irom $zo,ooo (Kzo mIIIIon) on LIe Iow end Ior u HIIux sIngIecub pIck- up Lruck up Lo $1qo,ooo (K 1qo mIIIIon) Ior u und Cruiser station wagon. Toyota, which is the number one uuLomuker and distributor in the world, in 2013 shipped 9.7 million vehicles around the world. In the last few years, many prominent inter- nuLIonuI uuLomukers, In- cIudIng ToyoLu, NIssun, MILsubIsII, und Rover, Jaguar, Ford and Hyun- dai have launched or in- creased their presence in Myanmar. Myanmar Summary Toyota ~:. Showroom . Service Center .:.~ .:._ ~~ ...~ q,~, . .,_._ .~: ~ _ .. e . . . :.._ _e. ._~: . .~ ~ :. ~'q~ ., ~ q, ~ , _. Sedona e ~e ~ _.. . ._ Toyota ~:..~.~.~ T.T.A.S. Co.,Ltd . General Manager ..._..,.~ Myanmar Business Today . ._.:._ . ~e~:~.,, .~q~., .: Showroom ~...q... ~e. Service Center ~.~: ~. :.~. q:... .. :~. . qe q, ~ , ~.,:~ . .. : .: . , .~.~_.. ~.~..~:~.. q~e. ~e~:~.,, _.,.: .,..~:~ ..:.e~.. ~.:. Brand new ~:..~~ _e, . .q: ...... :_e. ~e . ~. _.,.:~:....~~~ Use ~:....~~._e..,...~e. Brand new Market ._e.... .. New Market e_e.e. ~:~ ~. ,.~~.:._~.eq ..e''e ,.~ ._.:._. Toyota . e..,:~.. .q:..._~:..:.~ ~. ~..:~ e .... ._ ..~ ~ .,..:. 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N a in g A Toyota Iand Cruiser Prado on show at Toyota's brand new car saIes Iaunching ceremony. A modeI poses in front of a Mercedes-Benz C-CIass car in Yangon. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 26 Myanmar Summary IT & TELECOM iPhone Comes Oot oI u 'Bygone Iru', Reviewers Huil Bigger Hundset Arnab Sen B igger is better and AppIe nc Ius h- nally realised that and given iPhone users a product that may be low on novelty but high on improvements, reviewers wrote. Most reviewers say that the iPhone 6 is the best smartphone available or ever made, while the 5.5-inch iPhone 6 Plus has been described as a phablet that will give competition to Samsung EIecLronIcs Co Ld`s GuI- axy S line of big Android phones. LIInk IL`s u LerrIhc phone. In my view, its the best smartphone on the murkeL, wIen you com- bine its hardware, all-new operating system, and the Apple ecosystem whose doors IL opens, WuIL Mossberg wrote of the 4.7-inch iPhone 6 in the tech blog Re/code. Georey owIer, wIo reviewed the phones for LIe WuII SLreeL JournuI, said Apple has success- fully addressed its size de- hcIency. Mossberg said the in- crease in the screen size is a catch-up feature. But it is seen as a welcome change by Fowler, who suId LIe IPIone IeIL sLuck in a bygone era called 2012 before the launch of the bigger phones. New York TImes revIew- er MoIIy Wood upprecI- ated the new thinner, uLLer und more round- ed shapes of both the phones. But she pointed ouL LIuL LIe sIeek Iook comes at the cost of the phones feeling slippery. The improvements made to the operating system the iOS 8 soft- ware, and that to the cam- era were given a thumbs up by reviewers across the board. However, most believed that Apple could have done more to en- hance the battery life of the phones. JosIuu TopoIskI, wIo reviewed the phones for Bloomberg, said they were faster than their pre- decessors. Apple will tell you that these are the fastest mobile devices its ever made, and it wouldnt be lying. These phones screum, TopoIskI wroLe. Reuters Sony Slushes Goidunce on Stroggling Smurtphone Bosiness Sophie Knight S ony Corp warned of a much-deeper- than-expected loss and said it would not pay a dividend this business year after it was hit by a 18o bIIIIon yen ($1.; bII- IIon) ImpuIrmenL cIurge for its struggling smart- phone division. The Japanese consumer electronics company is now predicting a 230 bil- IIon yen ($z.1 bIIIIon) net loss for the year end- ing March 31, versus its previous forecast for a 50 billion yen loss. It ex- pects an operating loss of 40 billion yen instead oI u 1qo bIIIIon yen prohL ugged In JuIy. TIe news murks LIe sixth downward revision under Chief Executive Kuzuo HIruI, wIo Look IIs post in 2012 promising to puII LIe hrm`s LroubIed electronics division into LIe bIuck by IocusIng on its mobile, gaming and imaging units. The revision is also an embarrassment for new CIIeI InuncIuI Om cer KenIcIIro YosIIdu, wIo assumed his post on April 1 promising the company would be more realistic ubouL ILs ouLIook. Yoshida warned in July Sony could write down losses on its mobile unit for this business year. At the time Sony cut its prof- IL ouLIook Ior ILs smurL- phone business to zero, buL sLuck Lo ILs IuII-yeur forecast. In July Sony also cut its full-year sales forecast for its smartphones to 43 million from 50 million, wIIcI wouId murk u 1o percent increase on the year. Sales of Sonys high-end Xperia mobile devices Iuve suered due Lo u Iuck oI reIuLIonsIIps wILI carriers in the crucial US murkeL wIere ILs smurL- phones are so far only uvuIIubIe on No.q currIer T-Mobile US, as well as in CIInu, wIere IocuI muk- ers are dominant. Reuters Myanmar Summary AppIe CEU Tim Cook introduces the new iPhone and iPhone PIus during an AppIe event at the FIint Center in Cupertino. 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September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com IT & TELECOM 27 Mobile Puyments Iorecust: Huzy With u Chunce oI Apple Mark Milian Aung Phyo A nalysts thought they had a pretty good idea about what the mobile pay- ments industry would Iook IIke over LIe nexL Iew years. And then Apple came along. TIm Cook sLepped on stage yesterday in Cuper- tino, California, and with the wave of an oversized iPhone, the Apple CEO established a mobile-pay- ments mechanism that average people may actu- ally use. Apple fans are buzzIng. ReLuIIers, bunks and credit card compa- nIes ure LukIng IL very se- riously. The timing of Apple Pay is impeccable. The U.S. is undergoing a shift to a dIerenL credIL curd LecI- nology thats common in the rest of the developed world. Americans will be issued new chip cards that are designed to re- duce fraud. Stores will be usked Lo upgrude LIeIr payment terminals by Oc- tober 2015 or face higher transaction fees. The cIIps ure dIerenL Irom the tap-to-pay compo- nents found in the iPhone and other smartphones, but if retailers are buy- ing new point-of-sale equipment anyway, they might as well get a setup that supports mobile pay- menLs. Or so LIe LIInkIng Q atar-based tel- ecoms hrm Oore- doo IusL week unnounced LIe om cIuI launch of Ooredoo Busi- ness, a service geared at bringing communications solutions to Myanmars business community. TIe hrm suId Ooredoo Business has invested heavily in the recruitment and training of a team of mobile telecommunica- tions account managers who are able to accurate- ly assess the communica- tions requirements of customers ranging from large entities to medium enterprises. A wide range of voice, goes. The switch had already been factored into analyst projections for mobile payments growth. But unuIysLs ure Iess conhdenL Lo suy wIuL kInd oI ImpucL Apple will have on it. This Is wIuL LIe U.S. murkeL Iooked IIke, duLIng buck to 2012 and forecasting out to 2018, according to reseurcI hrm EMurkeLer. Bloomberg Ooredoo Bosiness Luonches in Myunmur SMS and data plans, sup- ported by a line-up of smartphone devices can be tailored to best suit the needs of Ooredoo Busi- ness cusLomers, LIe hrm said. We`ve Iocused our uL- tention on marrying glob- al best practice with the individual requirements of Myanmar businesses operating across a range oI secLors und oI dIerenL sIzes, suId PeLer Kyuw- mInsoe Yup, cIIeI om cer for Business. We`ve deveIoped our products and services and trained our specialised team to be able to deliver tailored solutions that de- liver incremental value to all of our customers. Ooredoo Myanmars re- cenLIy-depIoyed neLwork, which covered 12.3 mil- lion people by Septem- ber 15, will underpin the service by delivering HD voice and internet ser- vices. We undersLund busI- ness and the importance of both managing and having good visibility of costs, said Yap, by workIng smurLIy, Ieverug- Ing our neLwork em cIency and forming strong part- nerships, we will deliver vuIue LIuL LIe murkeL here in Myanmar has not yet seen. Ross Cormuck, CEO oI Ooredoo Myanmar, cited the launch of Ooredoo BusIness us unoLIer key milestone in Ooredoos roll-out. The Union Govern- ment challenged us with a broad, ambitious remit. ... everugIng LIe sLrengLI oI our neLwork und unrI- valled service capability to support the corporate sector is just one part of that. TIe hrm suId Ooredoo Business customers will have 24/7 access to a specially trained team of customer champions within the companies contact centre. Business never stops, Yup suId. We ure uvuII- able night and day to support our customers in growing their business. Myanmar Summary ~_~..:....:..q...,._~. .:.. ._ ~.~ .:.. .. :..q. ..,..:.~ .~.e.q. ..~.~..:.~..~.:. ~ ~.~.~_e_._....q, ~~ ~ Ooredoo _., .:~ . ~ ._ . ..~ . e .q.., .,: .:.~e ~ ., :..q.. .. ~ ._~:.....q.~~ _: . ._~.._.:~ _.:.. :q .. ._. . . .~ q ._ . Ooredoo _., .:- . .. :..q.. . , ..:.. . .. . .:.- .~..~.:.. ~. ...:..: ~....q: ..'. . .:. .:~ . _ . ..:. ~ ~:,~ ~, ..: . ~. ~. .:. smartphone .:.. . . ~ q e:~. .. ..._ .:.~ ~e . ~ ~, . : ~.:. .:. ~, ..: . .... :..__e. ._ . Ooredoo _.,.:- .~:..q. q .. q:. .. . .:.~.,. , .~ -~. .~e ~e ~._ . .:.~~. ..,..:. ..~ ~e.:..:q~.q, ~. _~_._.~.:...:~... .q:~,..:..:.._.,.,. _. ~ ~:,~ ~, ..: . .:. ~ .~ :.:~ .,:~ . :. .~ .~~:..e e. ~:.~ _.,.:....q- ~ ... , .,.~ Ooredoo _., .:-.,:~ . ...'. ..~ ..~,q~~ ..._._e,_~~ . ~ . _. _e. ~:~, ..: . . . ., . _. ..:...: q ~ ... .,._ . ~, .. ~~: ~.~~.._e.._ . MPT Lndergoes Rebrunding in The Iuce oI Competition Htun Htun Min A fter partnering with Japanese currIer KDD und trading house Sumitomo, Myanmar Post and Tel- ecommunIcuLIons (MPT) has unveiled a new logo in a corporate structur- al overhaul to compete against its new interna- tional rivals in the tele- communication sector. State-run MPT signed un ugreemenL wILI KDD and Sumitomo on July 16 to form a partnership that will see the expansion of LIe neLwork coveruge und application of advanced technology to provide high quality communica- tion services. The changing of logo was accompanied by a promotion that ran on September 13 and 14 where 40 percent to 60 percent extra credits were provIded Ior K,ooo- Ko,ooo Lop-up curds. However, the relatively IIgI cuIIIng ruLe oI Ko remains unchanged and U KIIn Muung HLun, mun- aging director of MPT, said they are considering introducing a cheaper rate and will announce plans at a later date. WILI LIe end oI LIeIr telecom monopoly, and the government no longer involved in the decision- mukIng process, MPT has transformed into an entity similar to a private enterprise, said U Thaung Tin, deputy minister for communication and in- formation technology. Four telecommunica- tion companies are al- lowed to operate in Myan- mar: MPT, Yadanarpon TeIeporL, Norwuy-bused Telenor and Qatar-based Ooredoo. Ooredoo has launched its service in August with a calling rate half that of MPT.Telenor, which is due to roll out its services soon, has an- nounced it will set a rate cheaper than the existing ones. KDD-SumILomo, wIIcI sLurLed workIng LogeLIer with MPT on September 1, is planning to invest $2 billion with the intent of upgrading the existing in- frastructure and expand- ing services. MPT and its Japanese partners have arranged a management structure where a Myan- mar and a Japanese per- son hII eucI oI LIe sume senior positions. MPT said it plans to sell over 5 million SIM cards by the end of 2014. In Sep- tember, MPT has started seIIIng SMs Ior K1,oo at retail mobile stores but the supply is limited, IeudIng Lo u bIuck murkeL where prices of the SIMs reucI up Lo K1,ooo und K zo,ooo. MPT Ius uIso planned to produce low- value top-up cards soon. Myanmar Summary Myanmar Summary M P T / F a c e b o o k _., .: .~ . e .q.. . , . (MPT)._ ., . . KDDI, Sumitomo ~. ....|._.. .,:~ ~ . . ~.. ._.: .~: ~_.:..~ . e .q.~ . ~ .:. . e _ . . :.._ e .~ . ~. ~ . ,_ . ._: ~, _ ~ . ._.~e,.~ ._.:._. MPT ._ . .e , .. . . e , ..~ . e .q.~, ..: . .:. ~ . . ..| ..:.. :.~ ~|._~ .~ . ..: q ~ .,..: _., .:. ~..q..~.e.q...,. ~. . _e. _ . . .~ . e .q.. . ._. . ._ -q e:~ ~ .. q, . ~. _ . ,_ . ._:.. .:. ~... ~: ~q_ ~.. ._ . .~ . e .q. ~, ..: . ~ ...q, .,~.~.:._e.._ KDDI Sumitomo ~. ~~.~....|.._.:..~ ~~, ... ~.. ~' q~ ~ ..:~.~.~.q... ._. .~ .~.~ .~ . ,_ .._: ~,_~._:, _._.:..~e ~, _ ~ . ...: .~ ~._ . MPT ._ ..~.._e. .:.._e ~..q. ~~e~: ._ eq ...._.q.~: ._ ~: . Myanmar Business Today . ._.:._. MPT . KDDI-Sumitomo ~ - ~~ . ~ . . ..| . . ~ .~~: ~ q~.,. .~ ..:q~. ._~:..q._. .. .:., ... . . :.._ . .. ..... .q.. . , . ~_~.,_ e .:._ . . ~,_ . e~~. ._..~.:.._ .._~ _~~~:..._ e .,.,.:.._~._. ~.,~ Apple~...~~ . ~.q:~.:._. Apple - .~.~ Tim Cook ._ _~ ..:...:~ e , . _~ .~ .~ e. ._._ .:., . ~, . .:..:. ~.,~~e....: .._ ..........,. ~ . ~ .~ ... . ~ ._ . Apple ....~:....: .~ . . q :..,_~_. . .~ . ~.q: . . .:. ~ .:.. ~._~.~e ~~ _ .:. ~ . ~ . :. ~._ . e ..,. ~ ~. , ~...~,~ :.. ..:..,_~._ .~ .q:~ .:.,.:._. ~.,~~. _e. ._ .~..q ~, _._ .: . ._ e_e._.. ~.:~.~,.~ ~ ~e . :. .. .,._ ~._~. ~e~~,_.._:~ ._.:.. .,.,_e.._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 28 INTIRNATIONAL AN OMISTIC ILIGHT SCHILLI Fliggh htss ffroom Yanggon (RGNN) to Bangkok ((BKK) Fliggh htss ffroom Banggkok (BKKK) to Yaangon (RGN) Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: PG 706 1 2 3 4 5 6 7 RGN BKK 7:15 9:30 Bangkok Airways DD4230 1 2 3 4 5 6 7 DMK RGN 06:30 07:55 NOK Airlines DD4231 1 2 3 4 5 6 7 RGN DMK 8:00 9:45 NOK Airlines 8M336 1 2 3 4 5 6 7 BKK RGN 6:40 7:25 MAI FD2752 1 2 3 4 5 6 7 RGN DMK 8:30 10:15 Thai AirAsia FD2751 1 2 3 4 5 6 7 DMK RGN 7:15 8:00 Thai AirAsia 8M335 1 2 3 4 5 6 7 RGN BKK 8:40 10:25 MAI TG303 1 2 3 4 5 6 7 BKK RGN 8:00 8:45 Thai Airways TG304 1 2 3 4 5 6 7 RGN BKK 9:50 11:45 Thai Airways PG701 1 2 3 4 5 6 7 BKK RGN 8:50 9:40 Bangkok Airways PG702 1 2 3 4 5 6 7 RGN BKK 10:45 12:40 Bangkok Airways FD2755 1 2 3 4 5 6 7 DMK RGN 11:35 12:20 Thai AirAsia Y5-237 1 2 3 4 5 6 7 RGN BKK 18:05 19:50 Golden Myanmar Airlines PG707 1 2 3 4 5 6 7 BKK RGN 13:40 14:30 Bangkok Airways TG302 1 2 3 4 5 6 7 RGN BKK 14:45 16:40 Thai Airways Y5-238 1 2 3 4 5 6 7 BKK RGN 21:10 21:55 Golden Myanmar Airlines PG703 1 2 3 4 5 6 7 RGN BKK 15:20 17:15 Bangkok Airways FD2753 1 2 3 4 5 6 7 DMK RGN 16:35 17:20 Thai AirAsia 8M331 1 2 3 4 5 6 7 RGN BKK 16:30 18:15 MAI PG703 1 2 3 4 5 6 7 BKK RGN 16:45 17:35 Bangkok Airways FD2754 1 2 3 4 5 6 7 RGN DMK 17:50 19:35 Thai AirAsia TG305 1 2 3 4 5 6 7 BKK RGN 17:55 18:40 Thai Airways PG704 1 2 3 4 5 6 7 RGN BKK 18:25 20:20 Bangkok Airways DD4238 1 2 3 4 5 6 7 BKK RGN 19:30 20:15 NOK Airlines TG306 1 2 3 4 5 6 7 RGN BKK 19:40 21:35 Thai Airways 8M332 1 2 3 4 5 6 7 BKK RGN 19:20 20:05 MAI DD4239 1 2 3 4 5 6 7 RGN DMK 21:00 22:45 NOK Airlines PG705 1 2 3 4 5 6 7 BKK RGN 20:00 21:15 Bangkok Airways FFliggh htss ffroom m Yangoon (RGN)) to Chiaang Maii (CNX) FFliggh htss ffroom m Chiangg Mai (CCNX) to YYangon (RGN) W9-9607 4 7 RGN CNX 14:50 16:20 Air Bagan W9-9608 4 7 CNX RGN 17:20 17:50 Air Bagan Flligghtss ffroom Yanggon (RGNN) to Sinngapore (SIN) Flligghtss ffroom Singaapore (SIN) to Yangon ((RGN) Y5-233 1 2 3 4 5 6 7 RGN SIN 10:10 14:40 Golden Myanmar Airlines Y5-234 1 2 3 4 5 6 7 SIN RGN 15:35 17:05 Golden Myanmar Airlines MI509 1 6 RGN SIN 0:25 5;00 SilkAir SQ998 1 2 3 4 5 6 7 SIN RGN 7:55 9:20 Singapore Airline 8M231 1 2 3 4 5 6 7 RGN SIN 8:30 13:00 MAI 8M6231/3K585 1 3 4 5 6 SIN RGN 9:10 10:40 Jetstar Asia SQ997 1 2 3 4 5 6 7 RGN SIN 10:25 14:45 Singapore Airline 8M232 1 2 3 4 5 6 7 SIN RGN 14:10 15:40 MAI 8M6232/3K586 1 3 4 5 6 RGN SIN 11:30 16:05 Jetstar Asia MI518 1 2 3 4 5 6 7 SIN RGN 14:20 15:45 SilkAir 8M233 5 6 7 RGN SIN 13:45 18:15 MAI 8M235 5 6 7 SIN RGN 19:15 20:45 MAI TR2827 1 2 3 4 5 6 7 RGN SIN 19:05 23:40 TigerAir TR2826 1 2 3 4 5 6 7 SIN RGN 17:05 18:25 TigerAir MI517 1 2 3 4 5 6 7 RGN SIN 16:40 21:15 SilkAir MI520 5 7 SIN RGN 22:10 23:35 SilkAir FFliightts frromm Yangonn (RGN) tto Kualaa Lumpuur (KUL) Fligghtts 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 KKoong (HKG) Flights from Yaangon ((RGN) KA251 1 2 4 6 RGN HKG 1:10 5:35 Dragon Air KA250 1 3 5 7 HKG RGN 21:50 23:45 Dragon Air *PPleaasee noote thee dday change for the deparrture time too Hong Kongg. Flliggh htss ffroom m Yangon (RGN) to Guanng Zhouu (CAN) Flliggh htss ffroom m Guang Zhou (CCAN) to Yangonn (RGN) 8M711 2 4 7 RGN CAN 8:40 13:15 MAI CZ3055 3 6 CAN RGN 8:40 10:30 China Southern Airlines CZ3056 3 6 RGN CAN 11:20 15:50 China Southern Airline 8M712 2 4 7 CAN RGN 14:15 15:45 MAI CZ3056 1 5 RGN CAN 17:40 22:15 China Southern Airline CZ3055 1 5 CAN RGN 14:45 16:35 China Southern Airlines FFlighhts ffroom Yanggon (RGN) to Koolkata (CCCU) FFlighhts ffroom Kolkkata (CCUU) to Yaangon (RRGN) Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: AI228 5 RGN CCU 18:45 19:45 Air India AI227 1 5 CCU RGN 10:35 13:20 Air India AI234 1 5 RGN CCU 13:40 16:55 Air India (via GAY) AI233 5 CCU RGN 13:30 18:00 Air India (via GAY) Fliggh htss ffrom Yanngon (RGGN) to GGaya (GAAY) Fliggh htss ffrom Gayya (GAY) to Yanngon (RGGN) 8M 601 1 3 5 6 RGN GAY 10:30 11:50 MAI 8M 602 1 3 5 6 GAY RGN 12:50 16:00 MAI AI234 1 5 RGN GAY 13:40 15:00 Air India AI233 5 GAY RGN 15:00 18:00 Air India Fligghtts frrom Yanngon (RGGN) to TTokyo (NNRT) FFliightts frrom Tokkyo (NRTT) to Yaangon (RRGN) NH914 1 3 6 RGN NRT 22:00 06:40+1 ALL NIPPON Airways NH913 1 3 6 NRT RGN 11:10 17:05 ALL NIPPON Airways FFliggh htss ffrom Yanngon (RGGN) to SSeoul (ICCN) FFliggh htss ffrom Seooul (ICN)) to Yanngon (RGGN) KE472 1 3 5 7 RGN ICN 0:05 8:00 Korean Air KE471 1 2 3 4 5 6 7 ICN RGN 18:40 22:55 Korean Air OZ7463 4 7 RGN ICN 0:50 8:50 Asiana OZ4753 3 6 ICN RGN 19:30 23:40 Asiana Flligghtss ffrom Yanngon (RGGN) to DDoha (DOOH) Flightts frrom Dohha (DOH) to Yangon (RRGN) QR619 1 2 3 4 5 6 7 RGN DOH 8:00 11:45 Qatar Airways QR618 1 2 3 4 5 6 7 DOH RGN 21:05 06:29+1 Qatar Airways Flliggh htss ffroom m Yangon (RGN) to Nay Pyi Taww (NYT) Flliggh htss ffroom m Nay Pyyi Taw (NNYT) to Yangonn (RGN) Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: FMI-A1 1 2 3 4 5 RGN NYT 7:30 8:30 FMI Air Charter FMI-A2 1 2 3 4 5 NYT RGN 8:50 9:50 FMI Air Charter FMI-B1 1 2 3 4 5 RGN NYT 11:30 12:30 FMI Air Charter FMI-B2 1 2 3 4 5 NYT RGN 13:00 14:00 FMI Air Charter FMI-C1 1 2 3 4 5 RGN NYT 16:30 17:30 FMI Air Charter FMI-C2 1 2 3 4 5 NYT RGN 18:00 19:00 FMI Air Charter FMI-A1 6 RGN NYT 8:00 9:00 FMI Air Charter FMI-A2 6 NYT RGN 10:00 11:00 FMI Air Charter FMI-A1 7 RGN NYT 15:30 16:30 FMI Air Charter FMI-A2 7 NYT RGN 17:00 18:00 FMI Air Charter FFliightts frrom Yangoon (RGN) to Manndalay ((MDY) FFliightts frrom Manddalay (MDDY) to YYangon (RGN) Y5-234 1 2 3 4 5 6 7 RGN MDY 6:15 7:30 Golden Myanmar Airlines Y5-233 1 2 3 4 5 6 7 MDY RGN 8:10 9:25 Golden Myanmar Airlines YH 909 2 4 6 7 RGN MDY 6:30 8:10 Yangon Airways YH 910 1 3 MDY RGN 7:40 10:30 Yangon Airways YH 917 1 2 3 4 5 6 7 RGN MDY 6:10 8:30 Yangon Airways YH 918 1 2 3 4 6 7 MDY RGN 8:30 10:25 Yangon Airways YH 727 1 5 RGN MDY 11:15 13:25 Yangon Airways YH 728 1 5 MDY RGN 9:10 11:05 Yangon Airways YH 731 1 2 3 4 5 6 7 RGN MDY 15:00 17:10 Yangon Airways YH 732 1 2 3 4 5 6 MDY RGN 17:10 19:15 Yangon Airways W9 501 1 2 3 4 RGN MDY 6:00 7:25 Air Bagan W9 502 1 2 3 4 MDY RGN 16:10 18:15 Air Bagan K7 222 1 2 3 4 5 6 7 RGN MDY 6:30 8:40 Air KBZ K7 223 1 2 3 4 5 6 7 MDY RGN 9:00 11:05 Air KBZ YJ 201 1 2 3 4 5 6 7 RGN MDY 11:30 12:55 Asian Wings YJ 202 1 2 3 4 5 6 7 MDY RGN 16:00 17:25 Asian Wings Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by: Y5-234 1 2 3 4 5 6 7 RGN MDY 6:15 7:30 Golden Myanmar Airlines Y5-233 1 2 3 4 5 6 7 MDY RGN 8:10 9:25 Golden Myanmar Airlines Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday Mann Yadanarpon Airlines September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com IT & TELECOM 29 Myanmar Summary Myanmar Summary Google Luonches $1og Android One; Iyes Low-Price Smurtphone Boom Nivedita Bhattachar- jee and Tomm Wilkes G oogle Inc launched in India on Mon- day a $105 smart- pIone, LIe hrsL devIce from its Android One initiative which is aimed at boosting sales in key emergIng murkeLs through cheaper prices and better quality soft- ware. The Mountain View- Based company tied up wILI ndIun IundseL muk- ers MIcromux, Kurbonn and Spice Mobiles to launch the 6,399 rupees phone, which is powered by Googles operating system and targets the booming low-cost seg- ment of the worlds fast- est growing smartphone murkeL. After launching in In- dia, Google said it plans to expand Android One to Indonesia, Philippines and other South Asian countries by the end of 2014 and in more coun- tries in 2015. TIe compuny Is workIng with partners including Acer Inc, HTC Corp and Panasonic Corp to build more devices under An- droid One, Sundar Pichai, who heads Googles An- droid and Chrome units, told reporters at the In- dIu IuuncI evenL In New Delhi. WIen (IundseL com- punIes) Iook Lo muke u phone, they will get a menu. They can put to- gether a device in a much quIcker IusIIon, knowIng weve already tested the software, he added. Reuters Ooredoo Luonches Heulth App 'Muy Muy' App to provide pre- and ante-natal care and advice to women across Myanmar Aye Myat O oredoo Myanmar IusL week omcIuIIy unveiled May May, a maternal health appli- cation developed jointly wILI IocuI sLurL-up Koe Koe TecI und PS, u gIob- al health organisation. The service will put ma- ternal, child health and wellness information for women across Myanmar, and they will be able to re- ceive regular health alerts and tips throughout the course of their pregnancy. A referral mechanism will be developed that will enable women with seri- ous medical condition to locate and access suitable medical care. The user friendly app is now avail- able to Ooredoo custom- ers via the Google Play store. Initial development of the service was made possible via funding granted to Ooredoo from LIe GSMA mWomen pro- gramme. The app is available free of charge to all Ooredoo customers. Ooredoo said the developers will imple- ment a commercially sus- tainable model to ensure that the service continues to develop and will posi- tively impact womens health across Myanmar. We Iuve so muny excIL- ing plans for further devel- oping the app to provide even better healthcare for women across Myanmar, TIIrI Kyur Nyo, un Oore- doo spokeswomun, suId. We`ve seen greuL In- terest in the app ... Ulti- mately the app will reach a large number of a well- dehned uudIence und oI- fers opportunities to the medical and pharmaceu- tical sector, and beyond. May May is the latest in- novation to be born out of Ooredoo Myanmars Ide- aBox programme, which aims to cultivate local ICT sector that will see the de- velopment of a range of Myanmar language sites and applications. Myanmar Connect ~~, _.:.~ Ooredoo ._ .... _., .:~ ~:,~ ~ . ~ ~.._e...: Koe Koe Tech ..~~_ May May .... e ..: . . . ~.....: .q:~.q. ~,..:.q. 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Thui Troe Corp Suys Tulks with Myunmur's Yutunurpon on Hold Manunphattr Dhanananphorn T hailands True Corp, controlled by billionaire Dha- nin Chearavanont, said its negotiations with My- anmars Yatanarpon Tel- eporL (YTP) ure on IoId, but the company contin- ues Lo Iook Ior opporLunI- ties to open telecommu- nication services in the country. There are some condi- tions that the two sides cant agree, Chief Finan- cIuI Omcer NoppudoI Dej- Udom told Reuters. True said in February it wus In LuIks wILI YuLunur- pon to start mobile phone operations in Myanmar. WIuL we oer Is super IuIr. Now, we ure open to Yatanarpon to negoti- ate with other operators. True Is sLIII wuILIng, Nop- padol said, adding under the previous agreement, the two companies were not able to negotiate with other partners. However, True has set up a subsidiary to operate some services in Myan- mar soon, he said without giving details. True operates a wide range of telecoms services In TIuIIund, Irom hxed- line to mobile and broad- band Internet to cable tel- evision. ucIng sLI compeLI- tion and slowing growth at home, True has set its sights on the rapidly growing economies of Southeast Asia. The Thai telecom group will join wILI CIInu MobIIe Ld to expand in the region, NoppudoI suId. True Chief Executive Supachai Chearavanont has said True Corp aimed to sign on 100 million subscribers in the region over LIe nexL hve yeurs, which would be almost hve LImes us mucI us ILs current subscriber base in Thailand. Reuters Myanmar Summary ., ._ ~e . ._..|, .. q: q::. , . . ._ Thai True Corporation._ _.,.:.. q~,:. ~e . . . .. ... .. .:.~ q. . .. ~ ._ e . q ._ . . ..: ~..|~ . ~ ~.,_e _.,.:.~ .~ .e.q.~,..:...,..:. ..~.._~.~.q..:. ~ .~.~q:.e.:..__e. ._ ~: . . q._ .~. .|~ . ~ -_:.q.~q:q.. .,:.|. .~ ~. ~.~~.~.:.~ . . e~ .. .. ..:.~ . _. . ._~:_e.._e Reuters . ._.:_~:..._. . , . ._ .e.e: ~|q .~~ . ~ Thai True Corporation ~.,_e q~,:.~e... _.,.:.~ ..e,..~ . e .q.. . , ..:.. . ~ . q, .~:.._.:._~._.~,.~: ~~. .. . ..~ .~ ~ ~q. . .~.|~e . q~,:. ~e . . ~ ~_ .:..~: ..q~:.~ , .. ... .e .. . e ...:... .e ~,.~:~~ ..:.,. .|''e .,: .|. . ~ ._ .:. ._ . , .~_ . . , . ._ ..: ~ _ .~ .:.~q e .~ . ~ ...._ ~_.:..~:..q~: .:.. ...._.._..._.qe ._ ._ .~. ..~ .|q :.._ . . ..: Thai TrueCorporation ~.,_e _.,.:.._ ~_.:. ..: ~. ~,..:...,.. .:.. . ~ . qq .~: ._ e . q ._ .Thai True Corporation ._ ..~ ~e.e,. .~ . e .q.~, ..: . . . , . _ ~ e _ ., . : ~, ..: . ... .~q_.. _~.e,. ..e,. Broadband~~:,~..,. .:.. .~e . ~ - . . , . .:.~._. ~,..:....., ._~.~_e.._. . . ._ ~ . e~ ..'.: ~~ ~, ..~ e , .~. . .~ .~.q:...~_.. ~.q..| ..: e_e.....~~.:.~ .....|_~q_ ~.. ..~: . ..:.._..:._e .q:.~:. .:.~ _.~q, q_qe..: Android One'' ~.~.- ... .e , .._ ._ e. ._ ~: . .q._. ..._ ~.ee,..~ ~ . . . . : . _ e. ..: Micromax, Karbonn . Spice Mobiles ~. ....|. ~: ....:e~.,. ... :...: ,.. ',, ~,e,.~ ~.._.. ~.:~_.,..e_e. .,._ ..~ e , ....~ ~ _e. ..: ~.e...~~-_~.:. .,._ .. ...|..:e , .. :. ~..~ ...~:..,_.._e. ._. ~ . e. ~ ~ . . .q:.._...,:~ ..._ ~.,.q:. e.... ~_.:. .~:~:q..:.~ ~~, ..~,.._ Android One ~.~.~ ..:.._. September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com SOCIAL SCENES 30 Euromoney Awards for Excellence 2014 U Set Aung, deputy governor of Central Bank. Kyaw Min Attendees at the Euromoney Awards for Excellence event. Kyaw Min Mercedes-Benz Launching of Te New C-Class Dancers perform at the event. Phyo Tu Customers see the Marcedes-Benz C-Class. Phyo Tu Customers see the Marcedes-Benz C-Class. Phyo Tu Guests pose for a photo. Phyo Tu Toyotas Brand New Car Sales Launch Party Presenter Tin Moe Lwin at the event. Zarni Min Naing Te choir sings a song. Zarni Min Naing Saori Kanda performs her drawing skills at the event. Zarni Min Naing Seiji Kai, general manager of Toyota Motor Asia Pacifc, gives his speech at the event. Zarni Min Naing Te attendees look at a Land Cruiser Prado at the event. Zarni Min Naing Hilux, the new model of Toyota. Zarni Min Naing Corolla, the new model of Toyota. Zarni Min Naing U Zaw Min Win, chairman of Myanmar Industries Association and vice chairman of Union of Myanmar Federation of Chamber of Commerce and Industry, gives his speech at the event. Zarni Min Naing U Aye Zaw, managing director of Aye and Sons Services Ltd, gives his speech at the event. Zarni Min Naing Ryoji Fujita, managing director of TTAS Co., Ltd, gives his speech at the event. Zarni Min Naing U Myo Myint Tein, general manager of TTAS Co., Ltd, gives his speech at the event. Zarni Min Naing September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com CLASSIFIEDS 31 September 25-October 1, 2014 Myanmar Business Today mmbiztoday.com 32 ENTERTAINMENT Restuorunt Serves Ithnic Coisine - With Side-ish oI Conict Resolotion Matilda Egere-Cooper I t doesnt want to force a message down your throat, but it hopes that by the time you leave you might have digested more than just din- ner. ConIcL KILcIen ondon wants to be a restaurant with a conscience. The pop-up eatery, launched ahead of the International Day of Peace on September 21, is serving traditional food from Myanmar, Jordan and Peru to encourage discussions about the prospect of peace in those countries. More than 100 people attend- ed LIe hrsL week oI LIe LIree- week resIdency uL MonIkers, u spuce In EusL ondon. A mixed crowd of locals, foodies and nationals of Burma, the country now called Myanmar, got a chance to meet new people and try dishes including hincho, a spicy soup, und u cIIcken-und-coconuL curry served with egg noodles. As the 35 three-course meal was being prepared, guests broke LIe Ice wILI sLrungers, using conversation cue cards about everything from Myan- mars largest exports to the number of years its opposi- LIon Ieuder, Aung Sun Suu KyI, spent under house arrest. They could also order themed cockLuIIs, wILI u NegronI masquerading as a Rangooni, after the original name of Myanmars commercial capital Yangon. Debbie Riehl, an up-and- coming Myanmar-born chef and artist who conceived and prepared the dishes, said the restaurant catered to a number of needs. To LuIk ubouL gIobuI Issues over a meal? I just had to get on board with this, she said. Its non-confrontational, peo- ple are having conversations about things, and exchanging ideas, thoughts, views, every- thing. The agendas for debate are C o n f
ic t
K it c h e n far from rigid. On one table conversation soon swayed to- wards the topics of the Scottish referendum and the current state of music education in the UK. On another, a pair of Bur- mese friends discussed how they had never attended such an event before and could usually share Burmese food only in one of the few Buddhist monasteries in the capital. Debbie added: A lot of Bur- mese people have come as well. Theyre thrilled that there is a Burmese pop-up but also to be ussocIuLed wILI someLIIng IIke this because theyre obviously more uwure oI LIe conIcL In Burma. The creative decor is designed to bring diners up to speed with the issues. A large rolling cIuIkbourd ouLIInes LIe IIsLory of Myanmar as a creative info- graphic. Communal tables have placemats with world maps. Peace i s a mar athon A bell rings before each course is served, followed by a fact shared by Phil Cham- pain, director of Emerging Programmes at International Alert, the charity behind the concept. He outlined the history of Burmas independence from Britain in 1948, decades of authoritarian military rule and the reforms in 2010 which could lead to the countrys transition to a full democratic government. But peace is a marathon, not a sprint, he said. He udded LIuL ConIcL KILcIen ondon wus InspIred loosely by Cocina del ConIcLo (ConIcL KILcIen), u project in Pittsburgh, Pennsyl- vania which only serves food from countries with which the UnILed SLuLes Is In conIcL. TIe non-prohL pop-up Is purL of International Alerts current TuIkIng Peuce IesLIvuI, wIIcI oers u serIes oI peuce-reIuLed evenLs ucross ondon. L`s very mucI IookIng uL LIIs kInd oI Iood us u wuy oI bringing people together to uILImuLeIy resoIve dIerences and reconcile and also deepen understanding, Champain said. A few days later, diners were InvILed Lo LIInk ubouL Jordun, IucIng pressure Irom un Inux of refugees from Syria, Iraq and the Palestinian territories. TIe hnuI week wIII puL LIe spotlight on Peru, where there Is conIcL beLween IndIgenous people and companies over land rights and natural re- sources. LIInk IL`s unusuuI Lo Iuve food mixed with politics but those are two things I enjoy, suId NInu HurrIs, un 18-yeur- oId sLudenL Irom ondon wIo came to the Jordan evening with her sister. Ive really enjoyed the even- ing. It was good to mix with dIerenL uge groups, peopIe wILI dIerenL jobs und buck- grounds. Robert Sutton, a 36-year-old AmerIcun IIvIng In ondon, agreed. Its a good way to meet u IoL oI peopIe Lo LuIk ubouL issues that are current topics in LIe worId. You cun LuIk Lo peo- ple about their views and enjoy food represented from their counLrIes hrsL Iund. L`s reuIIy good. Reuters Yungon to Host o1q Ioropeun Iilm Iestivul Aye Chan Wynn T he European Film Festi- val 2014 will be held in Yangon from September 25 to October 5, the European Union Delegation to Myanmar announced. A total of 10 movies will be showed from six European countries Italy, Germany, runce, LIe UK, reIund und SwILzerIund - und srueI uL Nuy Pyi Taw Cinema Hall in Yan- gon. BesIdes, hve documenLury hIms Irom WuLIunn IIm es- tival will also be shown before each screening The festival will act as a bridge between the cultures of Europe and Myanmar, the Em- bassy of Switzerland in Myan- mar said in a statement. TIe LIckeLs ure uvuIIubIe Ior Iree uL LIe Nuy PyI Tuw CInemu and can be bought one hour before screening. TIckeLs ure uvuIIubIe uL LIe Nuy PyI Tuw cInemu Ior Iree. TIey cun be Luken 1 Iour be- fore starting the show. Films will be shown twice a day. The genres range from thrillers and dramas to com- edies, and there is even an animated movie for children to enjoy. E u r o p e a n