Myanmar Business Today - Vol 2, Issue 19

May 15-21, 2014
Myanmar Business Today
mmbiztoday.com
mmbiztoday.com May 15-21, 2014| Vol 2, Issue 19MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL
Inside MBT
The Bonds That Will Tie The
Semen Indonesia to Buy
Corruption The Biggest Con-
cern for Myanmar Business-
es: Survey P-5
In 2013-14, a total of K10 billion ($10.4 million) was disbursed to only
62 SMEs around Myanmar
T
he amount of loans
provided by the
state-owned Small
and Medium Indus-
trial Development Bank
for Myanmar’s small and
medium enterprises,
while the loan procedure
told Myanmar Business
Today
which ended March, the
bank disbursed a total of
Currently, SMIDB gets
loans from the govern-
ment-owned Myanmar
Economic Bank, which
provides funds to SMIDB
cent interest rate, while
other banks in Myanmar
“The bank wants to give
loans to most of the SMEs
not just to selected enter-
prises for a period of three
May Soe San can only give loans after
it receives special funding
from the government,” U
San Thein, senior advisor
at SMIDB told Myanmar
Business Today
He said collaboration
between international
donor organisations and
the government is still
weak, rendering the bank
unable to lend enough to
“If other organisations
such as JICA (Japan In-
ternational Cooperation
assistance to the bank the
situation will be better,” U
He said there have al-
ready been discussions
Development Assistance
U Myat Thin Aung, an
entrepreneur and vice
chairman at Yoma Bank
Ltd, told Myanmar Busi-
ness Today: “The more
loan the bank will give,
the better it will be for the
do not own buildings or
any other forms of collat-
also needs to assume risks
It [the government] also
needs to revise the loan
U San Thein said SMIDB
ments of SMEs to deter-
mine loan viability as the
nancial management and
inadequate data and re-
Also, as there is no leg-
islation for the SMEs at
present – the banks pro-
vide loans to SMEs after
getting approval from the
SME Centre, a depart-
ment under the Ministry
of Industry which keeps
registration records of
SME Law has been sub-
mitted to the parliament
and will be discussed in
the Hluttaw’s upcoming
Foreign experts from
the German Society for
International Coopera-
to give training to banks
including SMIDB, KBZ
and Yoma Bank on moni-
toring and loan procedure
U San Thein also urged
the government to im-
prove industrial and ser-
vice sectors of the country
for the development of
cent is coming from ag-
The GDP will only in-
crease with the develop-
ment of the SMEs,” he
U San Thein also point-
ed out that Myanmar’s
number of export items
Contd. P 9... Contd. P 9...
Myanmar Summary
state-owned Small and Medium Industrial Development Bank (SMIDB) managed to disburse a total of
K10 billion ($10.4 million) to only 62 SMEs around the country.
UAung/Xinhua
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May 15-21, 2014
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Foreign investors reluctant to invest in state-
owned property
Foreign investors in Myanmar’s booming property
market have started avoiding making investments
in state-owned land because of a requirement to sign
media reported, citing CEO Aung Kyaw Win of United
ment, immoveable property can be only leased for long
terms, but cannot be sold and foreign investors do not
want to take the trouble likely to be faced in extending
tive bidding
through competitive tenders soon, local media report-
ed, quoting chairman Aung Than Oo of Myanmar Rice
stocked rice was sold last July to help control soaring
State-owned Small and Medium Industry Develop-
media quoted SMIDB Managing Director Tin Maung
loan from the state-owned Myanma Economic Bank at
gets grants from JICA (Japanese International Coop-
Rates under the new income tax policy, which comes
ing countries and will increase the burden on most tax-
payers, local media reported, quoting economists and
ayar Industrial Estate Supervision Committee, said that
day should not be required to pay any taxes, but under
and legal expert Tin Than Oo said any tax should not
be a burden for payers and there should be incentives
for them like good utility services, otherwise they would
upgrade
Shan states in northern Myanmar, will be upgraded in
cooperation with private companies and put into ser-
vice during this year to help cope with the steep rise
in domestic air travel, local media reported a senior of-
as a result of plunging rubber prices in the world mar-
ket, local media reported, citing secretary general My-
present, a metric tonne of rubber in the world market
matters worse, Myanmar rubber fetches only about
cult for the manageable scale rubber growers to survive
Year’
to attract seven million foreign visitors, local media re-
ported citing sources from the Federation of Myanmar
rival system needs further improvement while the e-
visa system should be introduced to lure more tourists
Myanmar Summary
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ydk&&Sdolrnfolrqdk 0ifaiGcGefay;aqmif&rnfjzpfonf/

May 15-21, 2014
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3LOCAL BIZ
Myanmar Summary
Contd. P 10... Contd. P 10...
The Bonds That Will Tie The Nation (Part II)
Kyaw Myo Htoon
I
nfrastructure project
private businesses raise
depend on large amount
Usually debt is composed
cent of total capital re-
quirement, and such
long-term debt can only
be sourced from capital
markets – both local stock
exchange and interna-
tional stock markets – as
developed capital mar-
ket are immense and
these have been well re-
study by the World Bank
has clearly demonstrated
that GDP grows faster in
economies with more liq-
nancial institutions like
IMF strongly recommend
developing deep and liq-
uid local stock and bond
is that development of lo-
cal Myanmar bond mar-
ket may even take longer
to become liquid than
If the local capital
market absorbs a large
amount of government
bonds there will be a
which means the govern-
ment will use all the capi-
tal in the Myanmar capi-
tal market and less money
will go to private business
sectors thus hurting their
There are challenges too
for Myanmar government
to sell foreign currency
bonds via international
capital markets since it
will be exposed to cur-
Nevertheless, under cur-
rent circumstances, it is
the only viable solution
to issue foreign currency
bonds to spur the eco-
nomic growth in years to
against the expenses of
the future generations so
it must be invested wisely
Government revenue
can be used in various
activities and sectors
that greatly enhance pro-
A nation’s productivity
is measured by its GDP
(Gross Domestic Produc-
economies like Japan and
the United States GDP
percent compared with
developing countries like
But such growth will not
Vietnam and China both
cial resources to develop
the countries’ infrastruc-
ture such as power and
Vietnam maintained a
higher infrastructure in-
vestment rate than its
GDP growth and as a
result maintained con-
sistent average Foreign
while China’s miracle
GDP growth rate (now
few decades came from
Chinese infrastructure in-
percent of its GDP annu-
Case in point, the out
in Yangon is just simply
a result of lack of infra-
structure and it is starting
and employees, and will
soon impact productivity
in Yangon and the dom-
Yangon is heading for Ja-
one of the most notorious
it is no wonder because
Indonesia only invests be-
low 5 percent of GDP in
city can issue municipal
sub-sovereign bonds for
roads and transportation
after sovereign bonds are
Organisations like the
Asian Development Bank
recommend at least 5
percent of GDP for infra-
Myanmar wants to fol-
low Vietnam’s investment
model with current GDP
infrastructure investment
rate should go around 7
percent of the GDP which
quirement of infrastruc-
ture investment for the
McKinsey Global In-
stitute analysis suggests
that an increase in in-
frastructure investment
GDP could translate into
direct and indirect jobs
Infrastructure invest-
ment implies both busi-
ness infrastructure like
road, power and social
infrastructure and also
educational and health-
der to attract FDI, it will
take development of both
business and social infra-
There are ongoing infra-
structure activities in My-
ternational Cooperation
preparing a master infra-
structure plan for Myan-
mar as well as a Yangon
Urban Development plan,
while ADB and World
Bank have been working
hand in hand for infra-
structure development
areas such as power and
Even funding all those
infrastructures with
bonds, ODA and loans,
there’s shortfall in coun-
tries like India, Vietnam
increasingly seeking in-
vestment from their pri-
attract private investment
in infrastructure projects,
sound and transparent
PPP legal framework
Myanmar government’s
attract private investment
into the sector although
how it will manage this
sensitive issue is debat-
forts, funding those infra-
structures will remain a
major challenge for years
to come for Myanmar as
well as other emerging
said, “Insanity is doing
the same things and ex-
Simply put: bold results
Infrastructure invest-
ment is politically, eco-
nomically and socially
important and most of
Myanmar’s challenges
today are basically infra-
transportation and com-
munication gap that cre-
ates wider divide devel-
opment among cities and
provinces, and the ethnic
remote provinces never
have been to major cities
and lack exposure, breed-
ing conservative minds to
create racial and religious
Moreover, development
and investment of infra-
structure in ethnic areas
and provinces is the only
way to strengthen the
Therefore, infrastruc-
ture investment will play
critical role in Myanmar
long-term economic de-
velopment but having
a plan is just the begin-
without a capable man-
of the day, it is the peo-
But having a competent
team in place is only half
the journey – their way
of management practices
need to comply with the
accepted code of conduct
besides being transpar-
Last but not least, hav-
ing all the above three in-
gredients in place will not
suddenly earn trust from
“
The out of control traffic problem
in Yangon is simply a result of lack
of infrastructure and it is starting
to affect both employers and em-
ployees, and will soon impact productiv-
ity in Yangon and the domino effect can
create far reaching consequences.”
OliverSlow
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tm; jrefrmaiG&if;aps;uGuf

May 15-21, 2014
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LOCAL BIZ 4
Myanmar Summary
Myanmar Summary
Semen Indonesia to Buy $30-m
Stake in Myanmar Cement Maker
I
ndonesia’s largest cement
producer PT Semen Indo-
nesia Tbk has agreed to buy
a minority stake in a Myanmar-
“At the moment we can only
enter with minority control, so
ownership,” President Director
Dwi Soetjipto told reporters last
week in Jakarta, Indonesia me-
He said the stake is worth
He declined to name the My-
anmar company involved in the
deal, but said it has an annual
“We will gradually increase
our control there in the future,
but we need an entry point
Semen Indonesia, formerly
known as Semen Gresik, op-
erates four units throughout
-
nounced last year that it plans
Phyo Aung Myint
This investment follows the
company’s venture into Viet-
-
For Indonesia, it is targeting
-
-
lion estimated by the end of this
Indonesia’s state-owned en-
terprises, including Semen
Indonesia and Bank Mandiri
among others, have been urged
by the government to expand
The cement producer has ob-
-
the construction of a new plant
million tonnes of cement in the
tonnes sold during the same
period last year, according to a
Semen Indonesia’s net in-
Ooredoo Tests First
O
oredoo Myanmar said it
has successfully tested
and from its network and that
of the other new mobile op-
erator, terming the event “an
important milestone” in the
rollout of telecommunications
“In our industry it is impor-
tant that operators do collabo-
rate to enable total connectiv-
ity and choice for customers,”
Ooredoo CEO Ross Cormack
said, highlighting the impor-
tance of good working relation-
The Qatar-based company
and Norway’s Telenor last year
won the bid for the two telecom-
government, which seeks to
cede its ironclad control over
the country’s telecommunica-
Punishing SIM card prices
and state monopoly have left
Myanmar’s telecoms infra-
structure in shambles and only
managed a dismal mobile pen-
“We hope to be able to pro-
gress our work in connecting to
the existing MPT network in the
The company said in order for
the people of Myanmar to enjoy
-
networks are able to intercon-
Ooredoo is currently rolling
out a voice- and data-enabled
-
Htun Htun Minn cial awarding of the licences in
across the country within six
-
“This interconnection mile-
stone brings together Ooredoo’s
next generation technology
with that of the current genera-
tion technology being deployed
by the other new operator,” the
Ooredoo
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cJhonf/
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May 15-21, 2014
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LOCAL BIZ 5
Myanmar Summary
C
orruption is the top con-
cern for businesses in
Myanmar, which is un-
dergoing liberal reforms after
the end of military rule, accord-
ing to a UN-led survey released
Five decades of military rule
left Myanmar mired in poverty
and plagued by corruption, but
a quasi-civilian government
enacted sweeping political and
Jared Ferrie economic reforms aimed at at-
tracting foreign investment and
However, the survey suggests
the reforms have thus far had
only a limited impact on cor-
severe obstacle” to their opera-
tions, according to the survey
from the United Nations, the
Organisation for Economic Co-
operationandDevelopmentand
the Union of Myanmar Federa-
tion of Chambers of Commerce
Access to skilled labour and
the second and third biggest
surveyed said they had to pay
bribes for registration, licences
fees while about a dozen said
“For the bulk of Myanmar
businesses, the business envi-
ronment has not changed,” said
Kim Ninh, country representa-
tive of the Washington-based
Asia Foundation, speaking at
She said she was surprised
few new ones had emerged dur-
“Curiously, not many in recent
years and the increase hasn’t
been as strong as you’d think
with the opening of Myanmar,”
Myanmar’s parliament passed
anti-corruption laws last year
and appointed an anti-graft
Win Aung, president of the
UMFCCI, said he was optimistic
-
cess would depend on whether
the authorities really acted on
“There should be action
against those who breach the
law,” he said in an interview on
in that way can the elimination
Despite Myanmar’s ongo-
ing reforms, the World Bank
-
tries in its annual report on the
business environment last Oc-
was due to corruption, Charles
Schneider, a World Bank econ-
omist based in Yangon, said at
the time, though he added the
country was improving trans-
Reuters
Reuters
New Tax Rate Comes
into Force This FY
M
yanmar’s new income tax and commercial tax
5 percent income tax; those earning from above K5 mil-
-
-
goods, the department said, warning that those who fail
Myanmar’s parliament approved the two tax-related
Kyaw Min
Myanmar Summary
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onfh pD;yGm;a&;todkuft0ef;jzpfvm&ef
vkyfaqmifaeonf/
odkYaomf avhvmcsufrsm;t& tqdkyg
jyKjyifajymif;vJrIrsm;onfvmbfpm;rItay:
tenf;i,fom xda&mufrI&Sdonf/
jrefrmEdkifiH0ifaiGcGefESifhukefoG,fcGef rsm;taejzifh ,ck 2014-15
b@m a&;ESpfwGif pwiftouf0ifNyDjzpfonf/
,ckOya'topft& wpfESpfvQif0ifaiG odef;20 rS odef;50 (tar&d
uefa':vm 2083 rS 5208)&&Sdonfh EdkifiHom;rsm; taejzifh 0ifaiGcGef
5 &mcdkifEIef; ay; aqmif&ef vdktyfrnfjzpfjyD; odef; 50 rS odef; 100
&&Sdolrsm;taejzifh wpfESpfvQif 10 &mcdkifEIef; ay;aqmif&rnfjzpfonf/
xdkYjyif 0ifaiG odef; 100 rS 200 tMum;&&Sdolrsm;taejzifh 20 &m
cdkifEIef; ay;aqmif&rnfjzpfjyD; odef; 300 txuf &&Sdolrsm;taejzifh
25 &mcdkif EIef;ay;aqmif&rnfjzpfaMumif;jynfwGif;tcGefrsm;OD;pD;XmerS
xkwfjyefxm;onf/

May 15-21, 2014
mmbiztoday.com
LOCAL BIZ 6
Myanmar Summary
Myanmar Summary
Contd. P 18...
Zhulian Corp Sees
Myanmar Entry by Q3
M
alaysia-based Zhulian
Corp Bhd, an invest-
ment holding compa-
ny, will enter Myanmar market
by the third quarter of this year
as part of the group’s overseas
Group managing director
Teoh Meng Keat said Myan-
mar is touted as the new fron-
tier market amongst emerging
countries in terms of the con-
sumer segment and has ap-
pointed a local master agent to
He said due to local laws lim-
iting company ownership, the
group will export its products
directly to the master agent,
“We will continue to expand
our overseas market to over-
come escalating raw material
prices, increasing operating
-
dence in spending,” he told re-
porters after the group’s annual
general meeting, Malaysian
He said the group also plans
to channel investments towards
increasing the production ca-
pacity in line with the objective
of growing the business by ex-
tending the scale and capability
of its food and beverages manu-
The group sales ratio is mostly
exports at 57 percent to Thai-
-
cent to Indonesia and one per-
Phyu Thit Lwin
However, Teoh said the group
-
From dealing with only a small
range of gold plated jewellery,
product lines into home care,
food and beverages, nutritional
supplements, personal care,
cosmetics, air and water treat-
ment, sleep enhancement and
Currently, Zhulian has about
agents in Malaysia, Thailand,
LIFT Fund in Myanmar
T
he EU and six of its mem-
ber states are the founder
and largest donor of the
Livelihood and Food Security
granted to Myanmar, the Euro-
pean Union Delegation to My-
other donors launched the mul-
ti-donor Livelihoods and Food
tackle the issue of poverty and
hunger directly in Myanmar’s
-
percent of the population live
in poverty and 5 percent live in
extreme hardship, with little or
no income to spend on essential
food, according to the Integrat-
ed Household Living Conditions
Poverty and the lack of means
to buy or access basic food re-
quirements have been and re-
main a persistent problem in
Myanmar, particularly in rural
In line with Millennium De-
extreme poverty and hunger –
LIFT’s work focuses on improv-
ing food and livelihood secu-
rity in areas around the country
where poverty is of particular
“Through LIFT we have been
able to target two million of
proud to contribute to more
May Soe San
EU and to have played a lead-
ing role in the creation of LIFT,”
said Roland Kobia, the Euro-
pean Union’s Ambassador to
Together with EU member
states, the European contribu-
tion to LIFT, notably of the UK,
LIFT supports a wide range
of activities and projects imple-
mented by local and interna-
tional NGOs and agencies such
as increasing productivity and
yields, improving local seed va-
rieties, diversifying production,
ensuring a more diverse and
nutritive diet, promoting inclu-
sive value chains, easing access
to markets, strengthening farm-
ers’ organisations, or ensuring
The focus of the fund is to as-
sist smallholder farmers to de-
termine their own way out of
poverty, and support them to
become active players in the so-
cial and economic development
of the country, the delegation
“LIFT has developed an iden-
experience of donors working
together to achieve the same
goal: reducing rural poverty and
malnutrition in Myanmar,” said
The EU ambassador said:
“Improving living conditions
in rural areas is one of the top
priorities of the government, as
Social and Economic Reforms
and in the Strategic Framework
now adapting its strategy to mir-
ror the priorities of the govern-
rav;&Sm; tajcpdkuf Zhulian Corp
Bhd taejzifh jynfyaps;uGufodkY csJUxGif
onfhtaejzifh jrefrmEdkifiHaps;uGufodkY
,ckESpf wwd,okH;vywfwGif 0ifa&muf
rnfjzpfaMumif; aMunmcJhonf/
tqdkygvkyfief;OD;aqmifñTefMum;a&;
rSL; Teoh Meng Keat rS jrefrmEdkifiH
onfvuf&SdzGHUNzdK;paps;uGufrsm;wGiftcdkifrm
qkH;aom aps;uGufjzpfaMumif;ESifh jrefrm
EdkifiHwGif pD;yGm;a&;vkyfief;rsm; vkyfudkif
Edkif&efukd,fpm;vS,fcefYtyfxm;aMumif;
ajymMum;cJhonf/
ydkifqdkifcGifhtm; uefYowfxm;aomaMumifh
rsm;wifydkYum jynfwGif;udk,fpm;vS,frS
jzefYjzL;oGm;rnfjzpfaMumif; ajymMum;cJh
onf/
FahmidBhuiya/PGMF
Oa&myor*¾ESifhtzGJU0ifEdkifiHrsm;onf
the Livelihood and Food Security
Trust Fund (LIFT) wnfaxmifol
rsm;jzpfNyD; 80 &mcdkifEIef;aom &efykHaiG
tm; jrefrmEdkifiHodkYay;tyfoGm;rnfjzpf
aMumif; jrefrmEkdifiHqdkif&m Oa&my
or*¾udk,fpm;vS,frS ajymMum;cJhonf/
2009 ckESpfwGif Oa&myor*¾taejzifh
tjcm;vSL'gef;olrsm;ESifh twlwuG
Livelihoods and Food Security
TrustFund(LIFT) tm; jrefrmEdkifiH
a0;vHa'orsm;&Sd qif;&JEGrf;yg;rIESifh tpm
a&qmjywfvyfrItm; axmufyHhay;Edkif&ef
wnfaxmifcJhjcif;jzpfonf/vuf&SdwGif
tvSL&Sifq,fOD;ausmfrS LIFT tm;
xnfh0ifrwnfvsuf&Sdonf/
jrefrmEdkifiHwGif vlOD;a& cefYrSef;ajc
26 &mcdkifEIef;onf qif;&JEGrf;yg;pGmaexdkif
ae&NyD; ig;&mcdkifEIef;rSm cufcJpGm &Sifoef
ae&um pm;aomufaexdkifa&;twGuf
0ifaiGvkHavmufpGmr&SdaMumif; Integrated
Household Living Conditions Survey
in Myanmar 2009-2010 t& od&
onf/
qif;&JEGrf;yg;rIESifh tajccHtpm;tpm
vdktyfcsufrsm; 0,f,l&ef cufcJrIonf
jrefrmEdkifiHa0;vHa'orsm;wGiftcuf
tcJwpfcktjzpf &Sdaeao;onf/Oa&my
or*¾tzGJU0ifEdkifiHrsm;ESifhtwl Oa&myEdkifiH
rsm;uvnf; LIFT odkY xnfh0ifulnDrI
rsm; jyKvkyfMuNyD; jAdwdefEdkifiHrS &efykHaiG
80 &mcdkifEIef;tm; xnfh0ifay;xm;jcif;
jzpfonf/
ADB,JapantoAssistMyanmarImprove
WaterandSanitationWorks
AYangon and Mandalay
will soon have access to
safe, regular water supply and
improved sanitation facilities
-
lion grant funded by the Japan
Fund for Poverty Reduction and
administered by the Asian De-
-
The four-year community in-
frastructure and basic services
project is expected to reduce the
prevalence of infectious diseas-
es, improve the system of solid
and liquid wastes disposal, and
-
ging in two of Myanmar’s most
“Community participation will
Wai Linn Kyaw be instrumental in the delivery,
operation and maintenance of
these infrastructure subpro-
jects” said Linda Adams, social
development specialist at ADB’s
ADB said the project will in-
troduce a “self-perpetuating
community operation and
maintenance fund, with com-
munity development commit-
tees responsible for the collec-
tion of fees and administration
The grant will also include im-
proving drainage of storm and
-
“Improving living conditions
in Myanmar’s major cities by
enhancing sanitation and clean

May 15-21, 2014
mmbiztoday.com
7LOCAL BIZ
Myanmar Summary
Myanmar Summary
U
K-based Allen & Overy
ASEAN region in Yangon, be-
coming the latest in the line of
swarming into Myanmar to tap
aged by Simon Makinson, Allen
& Overy ASEAN group chair-
push into Myanmar when sanc-
“Through this investment, we
believe we can not only play a
role in helping Myanmar with
its legal framework, we can also
help clients across our global
network better understand the
mechanics and nuances of what
has been, up until recently, an
unknown quantity from an in-
ternational investment point of
began work in the market two
years ago “we’ve been extremely
busy with a multi-faceted ap-
Last year, A&O, which is one
of the so-called “magic circle”
Norwegian client Telenor to win
one of two telecoms licences
granted to foreign companies
allowing it to provide telecom-
munications services in Myan-
continues with network deploy-
“On the client side we are ad-
vising across all active sectors
with the ‘big ticket’ deal to date
“Besides telecoms, we have
also been active in banking and
and gas, infrastructure, manu-
US OFAC and EU sanctions
advice also feature prominently
Htun Htun Minn
While risk is still a key factor
for corporations looking to in-
vest in Myanmar, the business
and legal framework for oppor-
tunity is improving day-by-day,
“In terms of industry devel-
opment, we have been active
in the power sector, working
with developers and multilater-
als, including assisting with the
development of a standardised
power purchase agreement for
the UK-Myanmar Financial Ser-
vices Task Force reviewing My-
Therearetwootherseniorlaw-
yers and three business services
team of sector specialists made
up of partners and lawyers from
“Having people on the ground,
alongside the contacts and
goodwill we have established
over the past two years, has
been critical in enabling us to
This latest opening takes the
Ho Chi Minh City, Hanoi and
has rolled out educational pro-
grammes for government and
regulatory agencies, members
of the local legal profession and
law students to help build Myan-
mar’s foreign investment know-
partnership with the Myanmar
NAdwdeftajcpdkuf Allen & Overy
(A&O)
&efukefwGifzGifhvSpfrnfjzpfaMumif;aMunm
cJhonf/tqdkyg½kH;cef;tm; vGefcJhonhfESpfESpf
ausmfu jrefrmEdkifiHtm; pD;yGm;a&;ydwfqdkYrI
rsm;½kwfodrf;ay;&efBudK;yrf;cJhonfh Allen &
Overy ASEAN group Ouú|jzpfol
Simon Makinson u BuD;Muyfrnfjzpf
aMumif;vnf; od&onf/
Allen & Overy (A&O) tae
jzifh jrefrmEdkifiHwGif vGefcJhonfh ESpfESpf
uwnf;upwifvkyfudkifcJhjcif;jzpfNyD;vuf&Sd
wGifaps;uGufqdkif&mvkyfief;rsm;jzifhtvkyf
½Iyfvsuf&SdaMumif; od&onf/
US OFAC ESifh EU wdkY jrefrmEdkifiH
tay: pD;yGm;a&;ydwfqdkYxm;rIrsm;ajzavQmh
Edkifjcif;onf Allen & Overy (A&O)
atmifjrifonfhrSwfwdkifwpfckjzpfaMumif;
udkvnf; tqdkygukrÜPDOuú|rS ajymMum;
cJhonf/
ThailandSeeksBusinessDevelopment
withMyanmarThroughFairs
T
hailand is aiming to de-
velop a stronger business
relationship with My-
anmar by organising business
matchmaking fairs, a top Thai
“Myanmar and Thailand are
neighbouring countries and
tighten the business relationship
between two countries, we need
more collaboration and coopera-
tion in business,” said Boon Inti-
One such fair, Thailand Week
“Entrepreneurs from Thailand
seek small and medium entre-
So, we introduced Myanmar
entrepreneurs with Thailand’s
high quality businesses and
There were also business con-
claves at the Bizmatch Fair and
Thai cuisine cooking sessions
cial to improve the partnership
Myanmar is a long-term busi-
ness partner of Thailand, it
makes sense to do more busi-
ness collaboration with Myan-
mar,” a Thai entrepreneur com-
Pann Nu
xdkif;EdkifiHtaejzifh jrefrmEdkifiHESifhpD;yGm;
a&;qdkif&mqufqHa&;tm; ydkrdkcdkifNrJap
&eftwGuf pD;yGm;a&;yGJrsm;usif;yaejcif;
jzpfaMumif; xdkif;tBuD;wef;t&m&SdwpfOD;
rS ajymMum;onf/
Thailand Week
Bizmatch Fair 2014 tm; arv 4
&ufrS 5 &uftxd &efukefNrdKU wyfrawmf
cef;rwGif usif;ycJhonf/
vankhanhco.com

May 15-21, 2014
mmbiztoday.com
LOCAL BIZ 8
Myanmar Summary
Timothy Sifert
F
oreign lenders are expect-
ed to receive requests for
proposals on new bank-
ing licences from the Central
Bank of Myanmar as early as
this month, the Southeast Asian
nation’s latest step towards a
-
New banking licences, expect-
ed as early as this year, will al-
-
has been opening up its mar-
kets to foreign companies since
the US and European Union
started lifting economic sanc-
The country granted telecom
licences to Norway’s Telenor
and Qatar’s Ooredoo earlier this
such as Coca-Cola, General
Electric, Unilever and Visa,
have been introduced, or rein-
At the same time, the Tokyo
Stock Exchange and Daiwa Secu-
rities Group are advising the cen-
tral bank on the establishment of
the Yangon Stock Exchange, ex-
The lenders likely to get the
United Overseas Bank, OCBC,
SE Asia’s regional players – are
expected to seek to licences, as
“With companies like Coke
and Unilever doing business
here, it’s very encouraging,”
said a source at a foreign bank
are waiting just for RFPs (Re-
Happy returns
is returning to the country and
Myanmar’s economy is expect-
ed, with the help of FDI, to grow
Coke opened a new bottling
plant near Yangon in the mid-
-
thing permitted under the new
foreign investment law, signed
At the outset, new bank licen-
sees will likely be limited in the
types of business they can pur-
sue, owing to regulations, as
well as the fact that the banking
and capital markets in Myan-
Nonetheless, lenders see
promise in the country, not least
because it is located between
India and China, the two most
are naturally interested in a
“As Myanmar moves to devel-
-
comes the opening up of Myan-
mar to foreign banks, and we
would be keen to tap on bank-
ing opportunities there,” a DBS
Another Singapore lender has
“OCBC sees potential in Myan-
mar,” said a spokeswoman at
-
ulations allow for banks to have
the country, we will be keen to
explore deepening our presence
“A lot of what we do now is
education,” the source at the rep
we want to be in this market, why
The central bank has been
willing to seek outside advice
A March report from the IMF
said that authorities in the coun-
try “are moving rapidly to issue
introduction of licensed foreign
-
However, the authors of the
report said that the central bank
should limit the number of new
because supervising more lend-
ers than that would pose an un-
“Once supervisory capacity
has improved, further licences
Myanmar “Committed” to Sustainable
It is unclear how many licenc-
es the central bank will ulti-
uncertainties related to Myan-
mar’s nascent markets, foreign
banks have kept on opening rep
-
rean banks, including Shinhan
Bank, Industrial Bank of Korea
and Kookmin Bank, landed in
Such an on-the-ground pres-
advantage in working on Myan-
-
ing opportunities, even if their
Wai Linn Kyaw
M
yanmar is “fully com-
mitted” to green growth
as it navigates a transi-
tion to a more open country, a
U Win Tun, union minister for
environmental conservation and
forestry, said at the Forests Asia
Summit in Jakarta that the gov-
ernment is “fully committed to
climate change mitigation and
sustainable forest management”
as it seeks to transform itself po-
litically, economically and social-
Observers are keen to see
whether Myanmar can main-
tain the growth in its newly lib-
eralised economy without dam-
aging its forested landscapes
– a path that many of its more-
developed neighbours have tak-
The minister also discussed
development of production for-
ests with the Indonesian Forestry
“Myanmar wants to learn about
the land concession system and
ways to transform forest areas
into a production forest from In-
The Indonesian minister was
expected to accompany U Win
Tun to view the forest business
that was started by state-owned
-
ested in the management of for-
ests in Indonesia because it has
similar forest conditions as Indo-
U Win Tun said Myanmar is in-
terested in studying the way In-
donesia manages its forest areas
to transforms them into a pro-
duction forest, while also main-
taining the environment and bio-
Myanmar Summary
authorities.
OliverSlow
whether Myanmar can maintain growth without destroying its forests.
UAung/Xinhua
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tjzpfodkY ul;ajymif;aeonfhtavsmuf
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General Electric, Unilever ESifh Visa
wdkYtaejzifh jrefrmEdkifiHtwGif;wGif
0ifa&mufvkyfudkifvsuf&SdNyD; tcsKdUrSm
0ifa&muf&ef jyifqifvsuf&Sdonf/

May 15-21, 2014
mmbiztoday.com
LOCAL BIZ 9
Myanmar Summary
Thome Group Opens Myanmar Manning Agency
S
ingapore-based ship
Thome Group has
opened a crew recruit-
ment and placement ser-
vices agency in Myanmar
in a bit to support its bur-
geoning Southeast Asian
shipping cluster, the com-
Thome Myanmar
is seen as an impor-
tant step in the com-
pany’s expansion
into the growing
economies of South-
east Asia and posi-
its full range of ship
management ser-
vices to the country,
It will immediately
enable Thome to tap
into the vast wealth
of seafarer potential
that Myanmar has
strong population, it
Thome group
chairman Olav Eek
Thorstensen said:
Phyo Aung Myint “The oil and gas sectors
are also very important in
this part of the world and
here places the Thome
Group in a good position
to service the future needs
of this and other growth
He said establishing
a manning operation in
Myanmar underlines the
group’s “commit-
ment to this fast-
moving and highly
important seafarer
recruitment mar-
The Myanmar/In-
dia/Sri Lanka region
is seen as an area of
massive potential
growth for Thome,
not only as far as
crew recruitment
and training is con-
cerned but also in
the supply of general
shipmanagement
services, the compa-
Thome already em-
crew from the region
and it says it sees
for expansion through the
Michael Elwert, director
of group HR, strategy and
support at Thome Group,
said seafarers from Myan-
mar are “extremely quali-
Thome Myanmar has
received its manning
agency and MLC licences
and a programme of cadet
recruitment has already
-
“Training is important
to us and we have ap-
pointed a regional train-
ing manager who will
oversee the training of
such cadets and others
from the Myanmar/In-
dia/Sri Lanka region,” El-
Thome was one of the
companies to visit as part
of an earlier Scandinavian
Claes Eek Thorstens-
en, president of Thome
Group, said: “Thome
quality ship management
experience to this impor-
tant market and we look
forward to working even
more closely with new
and existing clients in the
The company’s other
expansions in Asia in-
-
registered LOC Seoul and
Thome Group of Com-
panies provides services
ranging from ship man-
-
shore vessels, FSOs and
FPSOs, port agency, ves-
sel inspection, newbuild-
ing site supervision, and
As an independent in-
ternational ship manager,
-
cal management serviced
pure crew management
the company said.
shipmanagementinternational.com
pifumyltajcpdkufoabFmpDrHc
efYcGJa&;ukrÜPDjzpfonfh Thome
Group taejzifhta&SUawmiftm
&SoabFmvkyfief;pktm;taxmuf
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&SmazGa&;ESifhae&mcsxm;a&;0ef
aqmifrIat*sifpDtm; jrefrmEdkifiH
wGifzGifhvSpfrnfjzpfaMumif;aMu
nmcJhonf/
Thome Myanmar taejzifh
ta&SUawmiftm&SzGHUNzdK;vm
aompD;yGm;a&;tajctaersm;wGif
ukrÜPDcsJUxGifrIonfta&;ygaom
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oabFmpDrHcefYcGJrIvkyfief;rsm;ay;
pGrf;EdkifrnfjzpfaMumif;od&onf/
is still lower than other
neighbouring and re-
gional countries, and the
government should re-
form the economic infra-
structure to increase the
The Myanmar govern-
ment is now desperately
trying to strengthen its
ahead of the ASEAN Eco-
goods and labour within
the AEC is expected to
-
fore the ill-funded My-
anmar SMEs who will be
competing against their
superior rivals in the re-
jyefvnfjznfhwif;jcif;jzpfNyD;tqdkyg
SMEs vkyfief;rsm;tm;vHkavmuf
pGmacs;aiGay;Edkif&ef tjcm;aom
EdkifiHwumtzGJUtpnf;rsm;rS vm
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csifw,f/tcktpdk;&qDu&rSaiGacs;
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Mum;onf/

May 15-21, 2014
mmbiztoday.com
LOCAL BIZ 10
Myanmar Summary
ment still needs to com-
municate their plan that
will align with public in-
terests in simple and plain
At this initial develop-
ment stage of a country
like Myanmar, it is very
hard to show big tangi-
What the government can
do right now is sell hope
public and earn their trust
so that they can minimise
public resistance along
ment also needs a public
The knowledge will give
control to the people and
control in turn will give
hope to them in the fu-
are several road junc-
tions in Yangon without
ers act desperately to es-
drivers at junctions with
are like a plan that will
control the public and
such control will spawn
hope that they will escape
the mess when the time
highly capable leadership
will bring public in the
back seat of the leader’s
car and will see the chal-
lenges and opportunities
ers have to earn trust and
sympathy while driving
along a bumpy road drive
to achieve a common des-
Former US President
ership during an inter-
view with Fortune maga-
zine as “bringing people
together in pursuit of a
common cause, develop-
ing a plan to achieve it,
and staying with it until
Myanmar leaders and
policy makers can learn
a lot of development les-
sons from Vietnam and
India to take the ad-
vantage of being a “late
mover” instead of invent-
ing a “Myanmar way” (of
course there will be some
stunted the country for
leadership will be having
at hand, no matter who
Myanmar leaders will face
a troubled time in leading
the change that Myanmar
people has been yearning
Kyaw Myo Htoon (John)
standing Equity and Pro-
in Myanmar. He is also a
“
There are challenges too for My-
anmar government to sell foreign
currency bonds via international
capital markets since it will be
exposed to currency exchange rate risk.
Nevertheless, under current circum-
stances, it is the only viable solution to
issue foreign currency bonds to spur the
economic growth in years to come.”
InitialCensusResultstobeReleasedinAugust
Aye Myat
M
yanmar authorities
will release in August
the initial results of
this year’s nationwide census
conducted in March-April, U
Khin Yi, minister for immigra-
U Khin Yi made the disclosure
at a press conference on the
Census Enumeration at Yangon
The preliminary results will
include the census on popula-
tion taken state-, region- and
It is expected that the launch
of the main population infor-
The minister said all com-
pleted questionnaires are now
being retrieved from townships
in a “swift, secure and safe man-
He said there were about
where counting was done
households except some in the
country’s restive northernmost
Kachin state and western Rakh-
ine state, according to the min-
tracts in Kachin were not enu-
In Rakhine state, three out of
merated due to “non-response
from Bengali community,” the
minister said referring to the
community otherwise interna-
population of “Bengalis” in the
live in Rakhine state, U Khin Yi
collected data on current popu-
ures, aimed at working out a na-
He revealed that the prepara-
tions for enumeration started
lion “excluding an estimated
census ones for security rea-
UAung/Xinhua
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jzpfonf/

May 15-21, 2014
mmbiztoday.com
LOCAL BIZ 11
Jon Springer
W
hen it comes to
covering Fron-
tier Market in-
vesting, there are always
Myanmar (formerly and
this crossroads and may
hold hot country status
for a run of several years
because the hopes for the
country are high and the
timeline to unlock the
country from military dic-
tatorship is likely to take
A country of an estimat-
-
anmar is emerging from
a Tatmadaw dictatorship
-
madaw is the name of
of democratic reforms
gained traction with the
full and open democratic
elections that might see
Nobel Peace Prize Winner
and former political pris-
oner Aung San Suu Kyi
-
of a country emerging to-
ward democracy is inter-
esting, what gets investor
Myanmar could be, and
once was:
- A country strategically
located between India
- A land of largely unex-
ploited oil, gas and other
natural resources lying in
- A new venue for cheap
labour, cheaper than most
- A nation with long
coastlines and a long un-
der-utilised port network
- A new good-sized mar-
ket for goods from cell
- A country of great
spiritual importance now
- A people in which its
advocates see the “entre-
preneurial spirit” neces-
sary for successful capi-
- A country with huge
agriculture and aquacul-
ture potential that was
the worldwide number
one exporter of rice from
During a panel at the
Milken Institute Global
-
ly, there was an excellent
array of representatives
panel was queried on why
the country was now de-
mocratising, the general
consensus was: we should
focus less on why and
more on the process of
encouraging both democ-
ratisation and free mar-
are some contradictions
to the narrative that My-
anmar is headed toward
democratic free market
success:
- Under current law,
the Tatmadaw automati-
San Suu Kyi’s National
League for Democracy
- Under the current con-
stitution, Aung San Suu
Kyi cannot attain the of-
her husband was a for-
- The notion that Myan-
exaggerated as relations
have been normal with
most Asian countries in-
cluding Singapore and
China while western
Europe and the United
States engaged in sanc-
tions against the country
- While the government
states there are new press
freedoms and has recent-
ly passed new press free-
dom laws, the local Daily
Eleven Newspaper said,
“Journalists do not fully
protection under the two
legislations, they remain
under threats by oscil-
lating law enforcement
which can be manipulat-
ed to fault and jail them
journalists await trial for
revealing state secrets by
investigating a potential
Progress
On the panel at the con-
ference were Ko Ko Gyi
and Dr Min Zaw Oo, both
members of earlier itera-
tions of pro-democracy
movements in Myanmar
that respectively endured
-
The mere presence of
these men on a panel rep-
resenting Myanmar today
Min Zaw Oo in fact now
serves the government
of Myanmar as director
brings a wealth of experi-
ence to the complexity of
Myanmar’s peace nego-
tiations with his resume
including USAID election
projects in Afghanistan,
service to the US govern-
ment-funded Political
Instability Task Force, a
-
analysis and resolution
and a MA from George-
town University in securi-
in a government that rec-
to varying extents at the
Under the peace process,
Moreover, among Myan-
-
viously was armed con-
The peace process does
ignore the Rohingya
population, a population
that are not a recognised
ethnicity and are receiv-
from the human rights
community recently
There are also refugees
and many ethnic groups
in Myanmar scattered
around the world from
neighbouring Thailand to
During the panel, Ko Ko
Gyi stood out as the per-
son who did not mince
-
ments include involve-
ment with the pro-democ-
made during the panel
that may be of summary
note to investors are:
was people being upset
that their country “has
plenty of natural resourc-
es… [yet] we are among
the least developed coun-
tries… we [could not] ac-
cept such a situation…
that is why we are against
the single party dictator
- “the political power
and economic power are
still in the hands of the
old guys”
- “democracy, peace and
stability cannot be sepa-
rated”
- “[the] former mili-
tary regime, why they
change such a situation
[from dictatorship to de-
mocracy]? …democracy
and market economy is
the world trend… [the
military] never got in-
ternational credibility,
international legitimacy;
that’s why our army gen-
erals are very clever how
to deal with the interna-
tional community… to get
the legitimacy”
- When people recog-
nise positive changes
in the country such as
more media freedom, “we
agree, the media chang-
printed media are in the
hands of proxies of the
government… especially
Myanmar Summary
“
We as activists are commit-
ted to our country to develop
... But, up to now, so many
investments in our country
[have] no transparency at all ... no-
body knows how to sign a contract,
how to share the benefits ...”
BrentLewin/Bloomberg
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jzpfw,f/

May 15-21, 2014
mmbiztoday.com
LOCAL BIZ 12
Cracks Appear in US Myanmar Rapprochement
New legislation signals growing concern over the Obama administration’s Myanmar policy
R
ecent legislation intro-
duced to US Congress to
put conditions on US co-
operation with Myanmar’s mili-
of emerging dissatisfaction with
President Barack Obama’s rap-
prochement policy with the
The bill was sponsored in the
House of Representatives April
Subcommittee on Asia and the
-
cerns that the Obama admin-
istration, having begun limited
cooperation with Myanmar’s
military, is moving too quickly
without demanding reforms
-
er bipartisan House and Senate
legislation and follows enact-
ment of language in a funding
law limiting spending for assis-
Myanmar’s military is notori-
ous for atrocities including de-
stroying villages, using villagers
-
er concerns include Myanmar’s
military ties with North Korea
and continuing government
So far, US cooperation with
Myanmar’s military has been
allowing observers during the
last two Cobra Gold region-
al military exercises, human
rights talks, and exchanges
and workshops on such goals
as promoting civilian control
included exchanges with My-
anmar military leaders, judge
on human rights law and law of
In addition, Myanmar was
Secretary Chuck Hagel invited
to participate in last month’s
meeting of Association of
Southeast Asian Nations de-
fense ministers in Hawaii, the
publicly cited the importance of
working with Myanmar’s mili-
of law and promoting security
sector reform are essential el-
State Department Senior Ad-
visor for Burma Judith Cefkin
told Chabot’s subcommittee in
“Voices from across Bur-
mese society – including civil
society, ethnic minority repre-
Steve Hirsch
sentatives, and members of the
government and political oppo-
sition – are urging us to engage
with the Burmese military and
civilian police force to teach
new models of conduct that
help make the security services
a stakeholder in the success of
“We believe that carefully
calibrated military-to-military
engagement to share lessons
on how militaries operate in
a democratic framework will
strengthen the hand of reform-
However, Chabot, in an inter-
view, called it “naïve” to think
Myanmar’s leaders will be con-
vinced to follow the appropriate
path simply by asking them to
do so and continuing to “giving
them all the goodies without ac-
tually requiring them to follow
The Chabot-Crowley bill
would tie funding for certain
types of security assistance to
military and other reforms in
funding unless the secretary of
has met conditions related to
reforming its military, ending
military ties to North
Korea, opening the process
of amending the constitution
and opening elections, getting
the military out of commercial
businesses, and working to end
would have to show that My-
anmar’s army is improving its
human rights performance,
ceasing attacks on ethnic mi-
nority groups, moving to with-
and signing and implementing
Chabot dismissed the defense
that US cooperation with My-
The military, he said, is such
-
mar and its government, and its
abuses have been so substan-
tial “that having them reform
is such a critical element that
without that happening, the
rest of it really doesn’t matter
all that much, when you’re talk-
ing about the lives that are ac-
“So it’s critical that we insist
on the reform of the military
and it essentially cleaning up its
act and stopping all the human
rights abuses, we need to insist
on that at every level and that
should be a key aspect of our in-
teraction with the government,”
Backers of placing conditions
on military cooperation are
not asking the administration
to ignore Myanmar’s military,
which still wields substantial
Keith Luse, a well-regarded
former Senate Foreign Rela-
has also called for linking mili-
-
forms, expressing his personal
opinion, has cited the need for
the US government to deal with
He told a Heritage Founda-
tion session in October that
US-Myanmar military relations
should be contingent on meas-
urable reform benchmarks in-
cluding a wide range of human
rights issues and ending Myan-
mar’s military relationship with
In addition, though, he said
progress and reform in Myan-
mar “are more likely to acceler-
ate with substantive mil to mil
engagement and confrontation,
due in part to the disdain often
held toward professionals with-
in Burma’s Foreign Ministry by
“Over the long-term,” he said,
“communication exclusively be-
tween the United States, others
in the international community
leadership will have incomplete
He also said before proceed-
ing on a long-term plan, Hagel
must be fully informed on the
Myanmar-North Korea mili-
tary relationship and on the
status of Myanmar’s nuclear,
biological, chemical and missile
programs – “points where the
international community has
been dismal in expressing inter-
-
tions to be answered on this
subject, such as which Myan-
mar military or other projects
have involved North Korean
-
jects or facilities with North Ko-
reans present that have played a
role in the development of My-
anmar’s missile or nuclear pro-
grams, countries that knowingly
or not have helped Myanmar’s
nuclear and missile programs,
and the range of military equip-
ment and weapons provided or
in the works to be provided by
Jennifer Quigley, executive
director of the US Campaign for
Burma, called the Chabot bill “a
message to the administration
that they have not been clear,
they’ve not laid out a roadmap
– not just to Congress, but to
the Burmese – as to what this
engagement with the Burmese
military is about, what they
hope to accomplish with that
Murray Hiebert, a senior
Southeast Asia specialist at the
Center for Strategic and Inter-
national Studies in Washing-
ton, raised concerns about the
bill but acknowledged that it
shows a drop in support for the
He said the bill’s backers are
“trying to constrain something
that is so tiny, you can’t even
He called administration ef-
forts so far “really very mini-
mal,” consisting of talks, mostly
on human rights issues and
rules of engagement, but no
“It’s engagement basically on
human rights issues, now why
how the United States could
promote democracy, human
rights and reform “if we can’t
even talk to the most powerful
The bill’s introduction comes
as scepticism is growing about
the reality of change in Myan-
mar, which has led to questions
about whether the administra-
Although Myanmar has seen
end of junta rule, anti-Muslim
-
ing with ethnic groups contin-
ues, and doubts are rising about
there is increasing expectation
that opposition leader Aung
San Suu Kyi will be barred from
Chabot said he sees “consid-
erable concerns” by himself and
others about the administra-
tion’s Myanmar policy and said
“I think that they have been
too hasty and been too willing
to overlook all the evidence on
the ground that the military, in
particular, is not living up to its
“
I think there is, probably, a diminu-
tion of support. I think earlier on they
gave them ... a sort of blank check
– you know what you’re doing, carry
on – and now people are asking more ques-
tions, and it goes beyond the military.”
LarryDowning/Reuters

May 15-21, 2014
mmbiztoday.com
REGIONAL BIZ 13
Myanmar Summary
ThaiRubberFarmersSaytoProtestAgainstGovtPlan
Apornrath
Phoonphongphiphat
T
hai rubber farmers
will protest against
the government’s
tonnes of rubber from
its stocks as they fear the
sales will drag falling pric-
es down further, the head
of a group representing
farmers of the commodity
Top global rubber
producer Thailand had
planned in April to sell
of rubber it had bought
were made last month,
but caretaker Agriculture
Minister Yukol Limlaem-
thong told Thai media last
month the stocks would
be released soon to avoid
“We will submit an open
letter to the government
this week, asking them to
hold the plan to sell the
Boonsong Nabtong, head
of the Federation of Rub-
ber Planters Association
The Federation groups
several rubber coopera-
tives across the country
-
He added farmers would
gather in Bangkok to voice
their concerns about fall-
ing prices and to force the
government to stop adding
more supply in the market
“To sell the stocks is to
kill farmers indirectly and
we are telling the govern-
ment that we don’t want
to be killed by this policy,”
time rubber farmers are
several protests in Octo-
ber and November last
year, demanding action to
A far more controver-
sial rice-buying scheme
stoked massive protests
from farmers late last
year and this year when
the government failed to
rubber stocks the govern-
ment has said it plans to
sell are smoked rubber
sheets bought from farm-
-
port prices in the domes-
Yukol said he planned
to release the rubber
stocks in April when the
seasonal dry weather cut
rubber supply, in a bid to
However, the dry sea-
son in March-April in key
global rubber produc-
ers Thailand, Indonesia
and Malaysia has failed
to check the declines in
physical rubber prices,
which are being pres-
sured by falls in Tokyo
Benchmark TOCOM
futures are down more
on fears about falling
demand in China, the
world’s biggest rubber
benchmark grade Thai
smoked rubber sheet
Reuters
Visa Crackdown Risks Stranding Phuket Expats in Myanmar
ChrisHusted/PhuketGazette
Chutharat Plerin
OImmigration last
the Phuket Gazette that
they are turning away any
foreigners attempting to
enter Thailand after using
three consecutive “walk-
The news follows re-
ports of immigration of-
Phuket expats on visa
runs to Ranong from exit-
Phuket, has for decades
been a prime destination
for foreigners conducting
“We began enforcing
-
urday] after receiving an
order from Bangkok,” an
-
gration told the Gazette
on condition of anonym-
“We have already spo-
ken with several foreign-
ers and strongly advised
that they do not exit
Thailand to arrive in Kau-
thaung [in Myanmar], as
there is no Thai embassy
“We explained that if
they went and tried to re-
enter Thailand without
a Thai embassy or consu-
late, we would have to re-
fuse them entry because
they would have already
entered Thailand three
consecutive times on ‘visa
Any foreigners who ig-
nore the advice risk being
stranded in Myanmar, the
that the crackdown on the
“three-visa-and-out rule”
was aimed at catching
foreign criminals staying
in a crackdown on expats
and tourists who keep re-
newing their visas so that
they can live in Thailand
for the wrong reasons,”
“Some foreigners live
here and form their own
‘networks’ to carry out il-
the people we are target-
ing are known associates
of international crimi-
Visa run companies in
“These companies can
explain the rules to for-
eigners before they book
them on a visa run,” he
any problems at the Ra-
“As I said, this is just the
to root out foreign crimi-
be tougher than this one,
but law-abiding foreign-
ers should be aware that
we are not picking on any
particular nationalities –
criminals are the ones we
Any foreigners caught
overstaying their permit
to stay are subject to a
Foreigners caught
grossly abusing the maxi-
risk being deported and
added to the immigration
blacklist, barring the for-
eigner from re-entering
Myanmar Summary
DarioPignatelli/Bloomberg
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trnfysufpm&if;oGif;rnfjzpf
aMumif;udkvnf; owday;xm;
onf/

May 15-21, 2014
mmbiztoday.com
REGIONAL BIZ 14
Myanmar Summary
More Chinese Cities Ease Grip on Housing
As Economy Stutters
Xiaoyi Shao and
Koh Gui Qing
M
ore Chinese cities are
rolling out measures
to encourage home
purchases, in a sign that local
governments are increasing ef-
forts to safeguard an important
driver of growth in China’s fal-
The loosening of home pur-
chase rules in the eastern city
of Tongling in Anhui province
and Ningbo, the coastal city of
eastern Zhejiang province, fol-
lows several other smaller stim-
ulus steps in recent weeks to
juice the world’s second-biggest
Tongling has introduced steps
including providing tax subsi-
cutting down-payment rates to
select buyers, the city govern-
Ningbo has also relaxed home
purchase restrictions, the of-
newspaper reported, quoting a
meeting held by a local industry
By relaxing the rules, local
policy of reining in China’s
frothy property market, under-
scoring policymakers’ resolve to
support an economy growing at
Analysts believe the health of
China’s property market will
shallow or deep downturn, not-
ing that the real estate sector
the country’s total annual eco-
China’s growth engine has lost
steam in the past year, squeezed
by lacklustre demand for ex-
ports and the government’s
push to cut its own investment
Given slackening growth, Bei-
jing will likely back local gov-
housing market lest a collapse
in prices jolts the economy and
undermines its reform drive,
“If property activity weakens
government may allow vari-
ous local governments to relax
home purchase restrictions
and cut down the current hefty
down-payment requirements,”
economists at UBS said in a
The latest moves follow recent
similar measures by three other
cities – the southern city of Nan-
ning, the eastern city of Wuxi and
the Xiaoshan district in the east-
ern city of Hangzhou – to ease
A cooling property market
pressures the incomes of local
governments, which depend on
the real estate sector for a sub-
Data from the land ministry
showed in April that residential
The steps in the housing mar-
ket join other measures by Bei-
jing to shore up the economy,
even though it has ruled out the
Recent measures include the
relaxation of reserve require-
ments for some rural banks,
tax breaks for more companies
to support job creation, and
speeding up investment in rail-
Reuters
Bangladesh April
Third Straight Month
Ruma Paul
M
oney sent home by
Bangladeshis work-
ing overseas in April
Millions of expatriate Bang-
from the same period the pre-
vious year, central bank data
have dropped over the last few
months because of political tur-
moil in the months leading up
Fewer Bangladeshis are also
going abroad to work as jobs
have dried up in traditional
markets such as in Middle East-
year-on-year increase since last
Strong remittances in recent
years have helped build foreign
exchange reserves that stood at
-
from local commercial banks to
stem an appreciation in the do-
billion in remittances in the
-
million citizens abroad are criti-
cal for the impoverished nation
and are a key source of foreign
exchange, alongside garment
percent of total export earnings
Bangladesh’s economic growth
expected to be slower than the
-
Reuters
Myanmar Summary
RomeoRanoco/Reuters
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A pedestrian checks her watch as she walks past an advertisement for a real estate company near the Dalian International
TomohiroOhsumi/Bloomberg

May 15-21, 2014
mmbiztoday.com
REGIONAL BIZ 15
Myanmar Summary
Matthew Miller
E
ntrepreneur Wang
Jing is little-known
outside China, but
the turnaround of his core
telecoms business shows
he is a well-connected
Wang’s key compa-
ny, Beijing Xinwei, was
venture between China
Academy of Telecommu-
nication Technology and
Cwill Telecommunica-
tions, a US entity set up
by former Beijing Xinwei
The company helped
homegrown wireless
technologies, including
the mobile communica-
tions standard, TD-SCD-
Xinwei was foundering,
with reported revenue for
Wang said he was con-
tacted by a friend, Wang
-
came an early investor
-
Wang initially helped
-
-
-
lion shares later placed
in Xinwei with my own
money, without the help
of friends or family,” he
Since Wang’s arrival,
Beijing Xinwei has made
company has gained ven-
the General Armament
Department of the Peo-
-
AlexanderFYuan/AP
ple’s Liberation Army and
the State Commission of
Science and Technology,
allowing it to sell equip-
ment and services directly
to the Chinese military
It continues to build
public telecom networks,
along with private net-
Key enterprise desig-
nation
Beijing Xinwei is clear-
ly well-regarded by the
central government min-
istries, including the Na-
tional Development and
Reform Commission, the
Ministry of Industry and
Information Technology
and the Ministry of Fi-
nance, jointly designated
the company a key soft-
ware enterprise for stat
planning, giving it a pref-
erential corporate income
-
velopment Bank also
“
My special contribution has
been hard work. I arrived at
Xinwei 4 years ago, and since
then I haven’t rested. I eat and
live at the office.
My life is about work.”
granted Beijing Xinwei a
-
-
port the company’s “going
In the last three years,
Beijing Xinwei has inked
global deals to build tel-
ecoms networks in Myan-
mar, Cambodia, Ukraine,
-
bodia project, which is
rolling out a mobile net-
work and wireless ser-
vices through Xinwei’s
local subsidiary CooTel,
credit guaranteed by Chi-
na Development Bank,
yuan US dollar credit fa-
from China Construction
-
“Xinwei has gained the
government’s trust, and
some government sup-
port, but this is entirely
because Xinwei’s technol-
ogy is advanced and, more
importantly, because Xin-
wei’s technology is the
intellectual property of a
Chinese company,” said
a US company it would
receive the same kind of
support from the US gov-
reported operating in-
-
Last September, Bei-
jing Xinwei and Beijing
Zhongchuang Telecom
Test Co, a Chinese maker
of network testing devic-
es, announced their in-
tention to undertake the
biggest reverse takeover
in Chinese stock market
The deal, which may be
-
mer, now calls for Beijing
-
cent of its shareholding,
yuan, into Beijing Zhong-
chuang, in exchange for
support new projects and
settle some high-interest
At the deal’s close, Bei-
jing Xinwei shareholders
Wang Jing himself will
Wang and his colleagues
have added a sweetener,
Beijing Xinwei’s underly-
over the next three years,
Beijing Zhongchuang
percent in the month fol-
lowing the takeover an-
nouncement, have since
“My special contribu-
tion has been hard work,”
since then I haven’t rest-
Reuters
Bangkok Bank Cuts 2014 Loan
Growth Target
Manunphattr
Dhanananphorn
B
angkok Bank Pcl,
Thailand’s larg-
est lender by as-
-
cent from 5 percent to re-
outlook and the impact
from prolonged political
The revision was based
on assumption that the
country’s economy will
and the bank’s non-per-
forming loans will remain
stable at the current level
loans at the end of this
year, President Chartsiri
Sophonpanich told re-
porters at a sideline of a
Separately, Teeranun
Srihong, president of
Kasikornbank, said the
country’s fourth-largest
lender is maintaining its
demand from large cor-
porate clients, especially
in the infrastructure, en-
Reuters
DarioPignatelli/Bloomberg
Myanmar Summary
xdkif;EdkifiH tBuD;qkH;aiGacs;
bPfjzpfonfh Bangkok Bank
Pcl
wdk;wufrI 3 &mckdifEIef;rS 5 &mcdkif
EIef;tm; 5 &mcdkifEIef;wGif jzwf
awmufvdkufNyD; EdkifiHtm;enf;
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wnfNidrfEdkifaMumif; bPfOuú|
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ajymMum;xm;onf/
pGefYOD;wDxGifol Wang Jing
tm; w½kwfEdkifiHjynfywGif vlod
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a&;a&ay:pDrsm;ESifhtquftoG,f
&SdaMumif; odEkdifonf/
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onfh Beijing Xinwei tm;
1995 wGif China Academy
of Telecommunication
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enf;ynmrsm;jzpfonfh TD-
SCDMA tm; ulnDzefwD;cJh
onf/odkYaomf2010 wGif Beijing
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(tar&duefa':vm 526ç900)
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qifh tapmydkif;&if;ESD;jr§KyfESHcJhol
Wang Qinghui qdkaom oli,f
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'or 8 oef;&&Sdap&efulnDay;
cJhNyD; &S,f,mtopf oef; 120
tm; xkwfa&mif;cJhonf/

May 15-21, 2014
mmbiztoday.com
INTERNATIONAL BIZ 16
Myanmar Summary
Myanmar Summary
Siemens Unveils Overhaul,
Q2 Disappoints on Energy Charges
Noah Barkin
G
erman engineer-
ing giant Siemens
unveiled a long-
awaited strategic over-
haul in a bid to catch up
-
vals, as it posted weaker-
than-expected quarterly
earnings last week, hit by
charges in its energy busi-
The Munich-based
Kaeser has been working
on the new strategy since
taking power last summer
following a boardroom
coup that pushed out his
predecessor Peter Loe-
scher following a series of
The company an-
nounced that it was buy-
ing energy assets from
Rolls-Royce for roughly
-
majority stake in its Aus-
trian metals business to
Japan’s Mitsubishi Heavy
Industries for undisclosed
Siemens also said it was
streamlining its divisional
its hearing aids business
and separating out man-
agement of its health-
care business – all steps
aimed at strengthening
-
The earnings and stra-
tegic revamp, dubbed
Siemens mulls a formal
-
ness of French rival Al-
stom, which has already
received a bid from US gi-
Under former CEO Loe-
scher, Siemens went on
an aggressive drive for
growth, leaving it lum-
bered with a complex
Return to roots
veteran of Siemens who
previously served as its
to restore the sense of
pride at a company that
has lagged big competi-
tors like GE and Philips in
terms of innovation and
In a signal that Siemens
is returning to its proud
roots, Kaeser is mak-
ing his presentation at
-
mensstadt” industrial
complex in Berlin, which
was the site of its head-
quarters between the two
-
-
project charges related
to two high-voltage di-
rect current transmission
-
“The second quarter
showed that we still have
a lot to do to improve our
operating performance,”
-
less we are on course to
reach our targets for the
-
earnings per share by at
Wai Linn Kyaw
W
hile the US gov-
ernment, under
the Fair Labor
Standards Act, does not
currently require employ-
ers to grant employees
who do earn vacation
time may need a reminder
According to Glass-
-
the average US employee
(of those who receive va-
his or her eligible vaca-
addition, when employ-
Each quarter, the Glass-
door Employment Con-
four key indicators of
salary expectations, job
security, the job market
This quarter’s survey
also took a look at em-
ployee vacation time, in-
cluding the percentage
of eligible vacation time/
actually take, how much
they work and why while
on vacation, among other
realities
While most employ-
ees may be using at least
some of their earned va-
cation time, three in four
-
-
ployees who receive vaca-
no vacation/paid time
-
or less of their eligible
Plus, when employees
vacation, that doesn’t
necessarily mean they’re
catching up on rest and
-
ees who took vacation in
they used vacation/paid
this more than any other
So why are employees
working while on vaca-
tion? Of those who report
working while on vaca-
tion, they say they do so
one else at my company
-
Complete dedication to
FabrizioBensch/Reuters
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32 bDDvD,H)wefzdk;&Sd &S,f,mrsm;
tm; Rolls-Royce rS 0,f,lrnf
MopaMw;vsowåKvkyfief;rS&S,f,m
trsm;pktm; *syefEdkifiH Mitsubishi
Heavy Industries tm; vTJajymif;
rnfjzpfaMumif;udkvnf; aMunm
cJhonf/
rwfv 31 &ufwGif NyD;qkH;cJh
onfh'kwd,okH;vywfb@ma&;ESpf
wGif pkpkaygif;u@tvdkuftjrwf
(odkY) xkwfvkyfrItjrwftaejzifh
,l½dkaygif 1 'or 57 bDvD,H
&&SdcJhNyD; tjrwfpkpkaygif; ,l½dkaygif
17 'or 45 bDvD,H &&SdcJhonf/
pGrf;tifu@taejzifh uae'g
EdkifiH&Sd high-voltage direct
current transmission (HVDC)
pDrHudef;ESpfckonf ,l½dkaygif oef;
310 ukefusonfhtwGuf tjrwf
aiG 54 &mcdkifEIef;? ,l½dkaygif
255 oef; usqif;cJhonf/
Reuters

May 15-21, 2014
mmbiztoday.com
INTERNATIONAL BIZ 17
Myanmar Summary
Myanmar Summary
Ford Suspends Vehicle Assembly in Venezuela
Eyanir Chinea
U
S automaker Ford
has halted opera-
tions in Venezuela
due to a lack of foreign
currency to import parts
for assembly, workers at
Like other private busi-
nesses in Venezuela, car-
makers have been com-
plaining that the socialist
government’s currency
controls are preventing
them from importing es-
sential products due to
restrictions and delays in
Workers, who spoke to
Reuters on condition of
anonymity, said the plant
in the central city of Va-
lencia would be paralysed
Transport Minister
Haiman El Troudi con-
plant but said it should
reopen in two weeks after
a meeting between Ford
representatives and gov-
-
solved some “critical bot-
Toyota Motor Corp halt-
ed vehicle assembly in
Venezuela in February for
Venezuela’s struggling
quarter production fall
vehicles, compared with
to national automakers’
Ford assembled only
Automobiles are just
one sector of many where
President Nicolas Ma-
duro’s government is fac-
ing clamour to release
He says unscrupulous
businessmen exaggerate
-
lars on the black market
A worker at a Ford assembly plant.
Bloomberg
But nevertheless min-
isters are holding urgent
meetings with business
heads to try and resolve
problems and help re-
verse the slide in local
Venezuela operates
three exchange controls
-
lar for preferential goods,
for other sectors via two
Central Bank mecha-
The dollar is trading at
the black market, accord-
ing to illegal web sites
General Motors, Mit-
subishi, and Fiat Chrysler
also have assembly plants
Reuters
US, Singapore Reach Agreement on Tax Evasion
Patrick Temple-West
& Rachel Armstrong
S
ingapore has
reached a tax in-
formation-sharing
agreement with the Unit-
ed States under a new law
tax dodging by Ameri-
cans, a US Treasury De-
partment spokeswoman
The deal, which was ex-
pected for more than a
year, will make it much
easier for institutions
in one of Asia’s biggest
wealth management cen-
tres to comply with US
rules, and puts it ahead of
rival Hong Kong which is
-
count Tax Compliance
Reuters
require foreign banks,
investment funds and in-
surers to hand over infor-
mation to the US Internal
Revenue Service about
accounts with more than
-
percent withholding tax
on their US investment
-
tively be frozen out of US
The Singapore deal,
known as an intergovern-
will come as relief to the
city-state’s wealth man-
agement industry which
management at the end of
Like most of the other
FATCA deals, the Singa-
pore agreement will al-
account-holder informa-
tion to their local tax au-
thority, which will send it
along to the IRS, saving
them from dealing direct-
ly with the US tax authori-
The Singapore deal was
agreed “in substance” and
“The advantage this
gives to Singapore insti-
tutions is the certainty
on how they should go
about their compliance
-
evant registrations,” said
Michael Brevetta, who is
PricewaterhouseCoopers’
FACTA lead for Southeast
Hong Kong is looking to
sign a similar agreement,
and inked a separate tax
information agreement
with the United States in
achieving a full IGA, al-
though it is unclear if that
China has also been in
talks with the US Treas-
ury on whether to sign
such a deal, although no
information has been re-
leased on how much pro-
-
tries that have not reached
a FATCA pact must report
directly to the IRS and
risk violating local priva-
cy laws, a particular risk
in China, which has broad
been negotiated to date,
including deals with In-
donesia, Peru and Kuwait
announced in recent days,
according to the Treasury
FATCA was enacted af-
ter a scandal involving
Americans hiding money
Reuters
tar&duefum;xkwfvkyfa&;
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aqmif&ef EdkifiHjcm;aiGaMu;jywfvyf
rIESifhBuHKawGUvmonfhtwGuf AifeD
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qdkif&m xdef;csKyfrIrsm;jyKvkyfaejcif;
rsm;tm; BuHKawGUae&jcif;jzpfonf/
wdk,dkwmum;ukrÜPDtaejzifh
vnf; azazmf0g&DvtwGif; AifeD
ZGJvm;EdkifiHwGifarmfawmfum;xkwf
vkyfrIrsm;tm; &yfqdkif;cJhonf/
Ford taejzifh 2014 ckESpf
yxrokH;vywftwGif; armfawmf
um;tpD;a& 499 pD;om xkwf
vkyfEdkifcJhonf/
EdkifiHom;rsm;taejzifh jynfy
wGif tcGefa&Smifwdrf;aerIrsm;tm;
wdkufzsuf&ef jy|mef;vdkufonfh
Oya't& pifumylEdkifiHESifhtcGef
tcsuftvufrQa0jcif; oabm
wlnDrI&&SdcJhaMumif; tar&duef
b@ma&;XmerS ajyma&;qdkcGifh&Sd
olu ,ciftywfwGif xkwfazmf
ajymMum;onf/
,cifESpfuwnf;u arQmfvifh
xm;onfh tqdkygoabmwlnDrI
onftm&StBuD;qkH;<u,f0rIpDrH
cefYcGJa&;pifwmrsm;rS wpfck&Sd
vkyfief;rsm;tm; tar&duefpnf;
urf;rsm;udkvdkufemap&efydkrdkvG,ful
aprnfjzpfNyD; oabmwlnDrIr&
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tm; tom&aprnfjzpfonf/
Zlvdkifwpf&ufaeYwGif pwif
touf0ifrnfh Foreign Account
Tax Compliance Act of 2010
(FATCA)t& EdkifiHjcm;bPfrsm;?
&if;ESD;jr§KyfESHrI&efykHaiGrsm;ESifh acs;
aiGay;olrsm;tcsuftvufrsm;
tm; US Internal Revenue
Service (IRS) odkY vTJajymif;ay;
&rnfjzpfNyD; tar&duefa':vm
ig;aomif;ESifhtxuf&Sdtar&duef
EdkifiHom;rsm; tcsuftvufrsm;
vnf; yg0ifonf/vdkufemjcif;r&Sd
wdkY &if;ESD;jr§KyfESHrI0ifaiGtay:
wGif tcGeftaejzifh 30 &mcdkif
EIef;'PfaMu;tjzpf aumufcHrnf
jzpfNyD; tar&duefaps;uGufwGif
vnf; xda&mufpGmydwfqdkYoGm;rnf
jzpfonf/pifumyloabmwlcsuf
taejzifh ,ckESpftukefwGif tNyD;
owfvkyfaqmifoGm;rnfjzpfaMumif;
od&onf/

May 15-21, 2014
mmbiztoday.com
INVESTMENT & FINANCE 18
Myanmar Summary
Chiang Mai Reps visit Myanmar’s
Kengtung to Boost Trade
Ruedee Pavasiriporn
R
e p r e s e n t a t i v e s
from Thai city of
Chiang Mai recent-
ly visited Chiang Tung in
Shan state (also known as
in Myanmar to tighten
Chiangs, which include:
Chiang Rai, Chiang Mai,
Chiang Tung, Chiang
Rung (currently referred
and Ching Thong (which
is now Luang Prabang in
-
icant trade relationships
To help strengthen the
relationship in the pre-
sent day, delegates had
been sent to visit Chiang
May, according to Pairoj
Kullawanich from Chiang
-
The talks included open-
ing new border check-
points, discussions about
the hazards of cross-bor-
enhancing transportation
cooperation between the
-
ple from Chiang Mai also
showcased their products
The two cities are ex-
pected to sign a sister city
Myanmar Summary
Sub-region of Standard Chartered.
Standard Chartered Appoints
Myanmar market a key focus
May Soe San
S
tandard Chartered
has appointed Lyn
Kok as the new chief
Greater Mekong Sub-re-
gion, the UK-based bank
In her new capacity,
she will work closely with
Chief Representative for
Myanmar, Tina Singh-
sacha to “leverage cross-
border opportunities and
enhance the bank’s ability
to provide strategic sup-
port to its international
clients exploring oppor-
tunities in Myanmar,” the
Standard Chartered
resumed its Myanmar
operations last year by
opening a representative
-
ated in Myanmar as the
-
ing the infamous dictator
The Greater Mekong
CEO role is a new region-
al leadership position that
sees Lyn assume govern-
ance responsibilities for
Greater Mekong, which
comprises Thailand, Viet-
nam, Myanmar, Cambo-
In addition to her re-
gional responsibilities,
Lyn will continue in her
current role as president
for the bank’s Thai opera-
Lim Cheng Teck, re-
gional chief executive
“The potential of the
Greater Mekong region
business operations in
those markets under the
Greater Mekong umbrel-
our clients doing business
in those markets targeted,
insights and enhanced
“I believe Lyn’s deep ex-
perience and understand-
ing of the region will help
take our business to new
Lyn was appointed
president and CEO for
Standard Chartered Bank
to that was she was man-
aging director, country
head of strategy & cor-
porate development and
general manager, Beijing
for Standard Chartered
SCB
Standard Chartered tae
jzifh Lyn Kok tm; r[mrJacgif
a'ocGJtrIaqmift&m&SdcsKyf
topftjzpf cefYtyfvdkufaMumif;
od&onf/
olrtaejzifh jrefrmEdkifiHqdkif&m
Xmaeudk,f pm; vS,f Ti n a
Singhsacha ESifh jrefrmEdkifiHwGif
e,fpyfjzwfausmftcGifhta&;rsm;?
jrefrmEdkifiHwGif tcGifhtvrf;rsm;
vma&muf&SmazGMuonfh tjynf
jynfqdkif&mvkyfief;rsm;tm; r[m
AsL[musus ulnDaxmufyHhay;rI
rsm;bPfrSvkyfaqmifEdkifa&;twGuf
twlwuGvkyfaqmifMu&rnfjzpf
onf/
Standard Chartered tae
jzifh jrefrmEdkifiHodkY ESpf 50 Mum
a0;uGmae&mrS ,cifESpfu jyef
vnf0ifa&mufcJhNyD; &efukefNrdKUwGif
ukd,fpm;vS,f½kH; zGifhvSpfcJhonf/
Standard Chartered onf
1862 rS pwifum jrefrmEdkifiHodkY
0ifa&mufcJhonfh yxrqkH;aom
EdkifiHjcm;bPfjzpfonf/odkYaomf
1963 ckESpfwGifOD;ae0if;utmPm
odrf;um jynfolydkif todrf;cHcJh&
onf/
r[mrJacgifa'o trIaqmif
t&m&SdcsKyf&mxl;onf a'oqdkif
&m acgif;aqmifrIydkif; &mxl;topf
wpfckjzpfNyD; Lyn taejzifh xdkif;?
AD,uferf? jrefrm? uarÇm'D;,m;
ESifhvmtdkwdkY yg0ifonfhr[mrJacgif
a'o tkyfcsKyfa&;wm0efrsm;
vnf;xrf;aqmif&rnfjzpfonf/
Lyn onf w½kwfEdkifiH ab*sif;
&Sd Standard Chartered Bank
OD;aqmifñTefMum;a&;rSL;? EdkifiH
qdkif&m r[mAsL[mESifh yl;aygif;
aqmif&Gufa&;tBuD;tuJtjzpf
xrf;aqmifcJhNyD; 2010 ZlvdkifwGif
Standard Chartered Bank
(Thai) trIaqmift&m&SdcsKyf
tjzpf cefYtyfjcif;cH&onf/
water access is crucial to ensuring that the country’s
and poor populations,” said Matsuo Hideaki, counsellor
The grant can demonstrate to city authorities innova-
tive and sustainable methodologies for the planning and
delivery of improved sanitation and urban services in-
-
networks, and build four community solid waste sys-
local government and develop community action plans
-
tees to partner with Township and City level Develop-
Myanmar Summary
*syefEdkifiH qif;&JEGrf;yg;rIavQmhcsa&; &efykHaiG tar&duefa':vm
av;oef;tm;tm&SzGHUNzdK;a&;bPf (ADB) rSBuD;Muyfumvkyfaqmifrnfh
pDrHudef;aMumifh&efukefESifhrEÅav;&Sd vlOD;a&wpfaomif;&SpfaxmifwdkYonf
rMumrDwGifoefY&Sif;?pdwfcs&onfhaomufokH;a&ESifha&qdk;oefYpifrIp
epfrsm; &&SdawmhrnfjzpfaMumif; ADB rSaMunmxm;onf/
tqdkygav;ESpfpDrHudef;taejzifha&m*gjyefYyGm;rIxdef;csKyfjcif;? a&qdk;oefY
pifrIpepfrsm;jr§ifhwifjcif;?a&BuD;rItm;avQmhcsjcif;wdkYtm; jrefrmEdkifiH
NrdKUBuD;ESpfNrdKUwGifvkyfaqmifrnfjzpfaMumif; ADB rS ajymMum;onf/
ADBrStqdkygpDrHudef;onf vlrIywf0ef;usiftajccHjyifqifrI&efykH
aiGpepftm;rdwfqufay;rnfjzpfNyD;vlrI0ef;usiftaejzifhtajc
cHtaqmufttHkrsm;tm; tkyfcsKyfrItwGuf tcaMu;aiGaumufcH
jcif;?pDrHjcif;rsm;vkyfaqmif&rnfjzpfonf/
tqdkygacs;aiGonf rkefwdkif;rsm;aMumifh a&vQHjcif;?a&BuD;jcif;ESifhvrf;
rsm;?vloGm; pBuørsm;wdk;jr§ifha&;wdkYtwGufygyg0ifrnf jzpfonf/
xkdif;EdkifiH csif;rdkifrS udk,fpm;
vS,frsm;taejzifh &Srf;jynfe,f
usdKif;wkHNrdKUodkY jrefrmEdkifiHESifh
pD;yGm;a&;qdkif&m qufoG,fa&;
rsm;wdk;jr§ifh&eftwGufoGm;a&muf
cJhaMumif; od&onf/
,cifu Chiang Rai, Chiang
Mai, Chiang Tung, Chiang
Rung ESifh Ching Thong wdkY
onf wpfNrdKUESifhwpfNrdKU pD;yGm;a&;
qdkif&mqufoG,frI&SdcJhMuonf/
,cktcg xdkodkYwdk;wufEdkif&ef
twGuf csif;rdkifrS udk,fpm;vS,f
rsm;onf usKdif;wkHNrdKUodkY arv
yxrywftwGif;u oGm;a&mufcJh
aMumif;csif;rdkifukefoG,fa&;a&;&m
½kH;rS Pairoj Kullawanich rS
ajymMum;cJhonf/

May 15-21, 2014
mmbiztoday.com
INVESTMENT & FINANCE 19
Myanmar Summary
Myanmar Summary
David Mayes
T
here is a lot of downside
risk in both the stock and
bond markets at the mo-
ment, but with interest rates
currently so low I am often
asked if there is a way of partici-
pating in them while limiting
yes, and it is not as complicated
Hedging Your Market Exposure
a generally misguided fear of
anything labelled a derivative,
in fact if you scan through the
-
ten you will even see the word
derivative unaccompanied by
all derivatives are complicated,
and it is a relatively straightfor-
ward process to “insure” a port-
An American style put option
gives the owner the right to sell
the underlying stock or stock
index at a certain price, the
strike price, anytime up until
of the underlying stock or index
falls below the strike price, the
option becomes “in the money”
and becomes more valuable as
the price in the market contin-
hedged, which I will discuss
later, you can limit the down-
the strike price of the options
For example, say you own
a stock portfolio that is es-
options at a strike price that is
far “out of the money”, for in-
the market is currently trading,
and thus lock in a maximum
options since they include a lot
the number of shares underly-
ing the contracts you buy add
up to the value of your portfo-
lio based on the current market
The option cost is the sunk
cost of insurance basically and
should always be viewed this
these costs are deducted from
the return you get obviously like
anything else in life the more
you spend typically means the
more you get, and this is true
with options as well gener-
time frame to maturity will be
more expensive than one with a
the strike price of a put option
also means the higher the in-
Not all stocks have the same
volatility as the overall market,
so in reality you will not likely
-
ever if you use an option on an
index that has similar volatility
and is correlated to the bulk of
your holdings it will still do well
in massively reducing downside
hold mostly emerging market
stocks like BRIC funds it might
as it will not likely be volatile or
even correlated enough to do a
write about how you can reduce
-
BoundarySettlementtoBoostBD-MyanmarTrade
Kyaw Min
T
he settlement of
maritime boundary
disputes between
Bangladesh and Myan-
mar provided an excellent
opportunity to enhance
maritime commerce and
cooperation between the
two countries, the Presi-
The exchange of more
training for both sailors
two countries may be con-
sidered in order to foster
friendship and sharing
knowledge, Abdul Hamid
said to commander-in-
chief of Myanmar Navy
Admiral Zeya Kyaw Htin
Thura Thet Swe who
visited Bangladesh last
week, Bangladeshi media
During the meeting, Ab-
dul Hamid said Admiral
Zeya Kyaw Htin Thura
Thet Swe said Myanmar
always attaches impor-
tance to its relations with
Bangladesh, adding that
this visit would increase
the friendly thought be-
them while limiting downside.
Reuters
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a'h&Sfor®wrS ajymMum;cJhonf/
tqdkygawGUqkHyGJwGif Abdul
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-
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pmcsKyfaps;uGufrSmyg usqif;rIawG&Sdae
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vrf;awG&Sdovm;vdkYawmif &Hzef&Hcg
ar;rdygw,f/ tajzuawmh &Sdygw,f/
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rItvm;tvmydkrsm;apygonf/
tar&duefykHpHuawmh ydkif&Sifu ukef
ypönf;awGudk oufwrf;wpfcktwGif;rSm
wefzdk;owfrSwfcsufwpfckeJY a&mif;cscGifh
ay;xm;ygw,f/ wu,fvdkY wefzdk;awG
[m ac:aps;atmuf avQmhusoGm;&if
awmh wefzdk;[m “in the money”
jzpfvmjyD; aps;uGuf[mvnf;
usqif;vmrSmjzpfygw,f/ 'gaMumifh
oifhtaeeJY oifh&JUusqif;aerItay:
oifh&JUoifudkifxm;wJhwefzdk;eJYac:aps;udk
owfrSwfay;xm;EdkifzdkY vdktyfygw,f/
Oyrmtm;jzifh S&P 500 udk wefzdk;
tm;jzifh tar&duefa':vm wpfaomif;
ydkifwJh &S,f,mwpfckydkifr,fqdkygqdkY? oifh
aeeJY tJh'DEIef;eJYqdk&if oifhtaeeJY ac:aps;
udk aygufaps;&JUatmuf 15 &mcdkifEIef;
edrfhNyD; ac:qdk0,f,lEdkifaumif; 0,f,lEdkif
cJhr,fqdk&if tJh'Daps;[m aps;uGuf&JU
trsm;qkH; qkH;½IH;rIwefzdk; 15 &mcdkifEIef;
jzpfaeNyDjzpfygw,f/

Myanmar Business Today - Vol 2, Issue 19

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