Vol 3, Issue 45

Myanmar Business Today
mmbiztoday.com
November 19-25, 2015
MYANMARS FIRST BILINGUAL BUSINESS JOURNAL
mmbiztoday.com
November 19-25, 2015 | Vol 3, Issue 45
ADB to Loan $100 Million to Upgrade EITI Report Deadline

Road in Kayin on GMS Corridor Route Set on December 30
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for decades resulting in
weak infrastructure and
high levels of poverty.
But it also has the principal road link to Thailand
along which 25 percent of
the countrys land-based
trade passes, said James
Leather, principal transport specialist in ADBs
Southeast Asia Department.
Contd. P 12...
Morley J Weston
Myanmar Summary
A motorist on Kannar road in Hpa-an in Kayin state.
Tin Mg Oo
he Asian Development Bank (ADB)

has approved a
$100 million loan to improve a 66.4 kilometre
section of road connecting the towns of Eindu
and Kawkareik in Kayin
state, dubbed as the missing link of the Greater
Mekong Subregion (GMS)
East-West Corridor.
The Manila-based lender said the project will

improve the existing twolane road in line with the
GMS road network standards, adding paved shoulders suitable for bicycles,
motorcycles and agricultural vehicles.
Some sections will be reDOLJQHGIRUWUDFHDVHDQG
better road safety, and
FOLPDWHSURRQJ IHDWXUHV
will be incorporated, in-
cluding elevating portions

LQ RRGSURQH DUHDV DQG
improving drainage. An
access road to the Kyon
Doe river port will also be
reconstructed to give the
countrys inland waterway transport network a
boost, ADB said.
The project will run for
over three years with an
estimated
completion
date of September 2019.
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&eftwGuf ADB Bank rS
acs;aiGtar&duefa':vm oef;
100 xkwaf cs;oGm;rnfjzpfaMumif;
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onf/
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Contd. P 12...
Phyo Thu
KHUVW(,7,UHSRUW
will be submitted
no later than December 30, according
WR ([WUDFWLYH ,QGXVWULHV
7UDQVSDUHQF\ ,QLWLDWLYHV
(,7, LPSOHPHQWDWLRQ
group in Myanmar.
7KH (,7, LPSOHPHQWDtion group of Myanmar
decided the last date of
report as December 30 at
a recent group meeting.
7KH LQWHUQDWLRQDO (,7,
board has set the deadline
for the report on January
2, 2016.
,Q WKH UHSRUW WKH WD[Dtion on oil and gas industry will be wholly scrutinised, but taxation on the
mineral mining industry
and the taxation on jade
and gems mining will be
only partially reported
due to a lack of data, said
Ko Min Zarni Lin from
WKH (,7, LPSOHPHQWDWLRQ
group in Myanmar.
The amount of taxes
that companies paid to
the government will be
included. When this report comes out, the weaknesses of the government
and the private sector
can be seen in detailed
QXPEHUV 7KH GLFXOW\

is that some government
departments and private
companies havent kept
their records and documents systematically, he
told Myanmar Business
Today.
Contd. P 10...
Inside MBT
Emerging
Honey
Market
Struggles with Chinese Fakes,
/RZ,QYHVWPHQW
P-4
Chevy to Open Mandalay

Showroom Next Year
P-25
Myanmar Businesses Slow to

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P-29
LOCAL BIZ
2
mmbiztoday.com
Business News in Brief

MYANMARS FIRST BILINGUAL BUSINESS JOURNAL
Board of Editors
Editor-in-Chief - Sherpa Hossainy
Email - editor@mmbiztoday.com
Deputy Editor - Morley J Weston
Email - morleyjw@gmail.com
Ph - 09 258 561 739
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,
Tin Mg Oo, Aye Myat, Aung Phyo,
Zwe Wai, Phyo Thu, Zin Thu Tun, Zayar Nyein,
Morley J Weston, Thant Zin,
Moh Moh Kyi, Ei Thandar Tun
Design, Layout & Photography

Zarni Min Naing (Circle)
Email - zarni.circle@gmail.com
Wai Linn Kyaw
Ko Naing
Email - nzlinn.13@gmail.com
DTP
May Su Hlaing
Translator
Wai Linn Kyaw, Saw Hsa Gay Doh
Advertising
Nay Lin Htike, Seint Seint Aye,
Htet Wai Yan
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09421149720
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Printing
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th
No. 1A-3, Myintha 11 Street,

South Okkalapa Township, Yangon.
Tel: 951-85000 86, 8500 763
Fax: 951-8603288 ext: 007
11,000 still need relocation after monsoon seaVRQRRGV

2IWKHPLOOLRQSHRSOHGLVSODFHGGXULQJWKHRRGing this summer, most have returned to their homes,
but 11,000 people remain in evacuation centers. Most
of those displaced are in Sagaing region and Chin State,
DFFRUGLQJWRDUHSRUWE\WKH812FHIRUWKH&RRUGLQDWLRQRI+XPDQLWDULDQ$DLUV
Use cash for border trade- Reserve Bank of India
Bartering goods and services without the exchange of
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WUDGHEDVNHWKDVGLYHUVLHGDQGDGHTXDWHEDQNLQJSUHVence is in place to support normal trade with Myanmar.
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mainly exported rice to China, accounting for 422,044

tons of rice with the revenues of $155.676 million during the same period, Xinhua News Agency reported.
Myanmar resumed its rice exports in mid-September
after lifting a one-and-a-half month freeze aimed at
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Myanmar Summary
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aMumifh tdEd,bPf (RIB) onf tqdkygudp&yfrsm;udk tqHk;owf
csifaeNyD; vmrnfh'DZifbmvwGif aiGvJvS,frIpepfpwifEdkif&ef pDpOf
aeonf[k od&onf/
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half of 2015-16 FY
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Myanmar's rice export fetched $185.84 million in the
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from the same period of last year, according to the My- wifydkYvsuf&SdNyD; wefcsdef 422044 wef&SdcJhum 0ifaiG tar&duef
anmar Rice Federation. Of the 43 countries, Myanmar a':vm 155.676 oef;&&SdcJhonf[k od&onf/
3,000 Government Commemorative Coins Sold

Zayar Nyein
ver 3,000 commemorative K5,000

silver coins commemorating the 2010-15
term of the current government have been sold,
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The Central Bank issued
a K5,000 silver coin as a
commemoration of the
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WHUP LQ WKH RFH RQ 1Rvember 4. The coins became available since November 5 in Yangon and
November 6 in Mandalay.
However, the current
government has been defeated by the National
League for Democracy

(NLD) in the recentlyheld general election.
Only limited numbers
of silver coins are available and one coin costs
K30,000. Any interested
person can buy the coins
at the Myanmar Gems
Enterprise sale centres,
DFFRUGLQJWRDQRFLDODQnouncement.
Everyone can buy
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Naypyitaw Thapyaygone
gems sale center. The
coin is composed of 92.5
SHUFHQWVLOYHU,WKDVDGLameter of 25 millimetres
and weighs 20 grams.
The coin has the State
emblem on the front, featuring K5,000 and production date in Myanmar

language beneath. The
front of the coin is surrounded by Government
of the Republic of the Union of Myanmar above
and Central Bank of Myanmar below, written in
Myanmar language.
A royal white elephant
is depicted on the back of
the coin, with writing in
English.
Myanmar Summary
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mmbiztoday.com
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LOCAL BIZ
mmbiztoday.com
Emerging Honey Market

Struggles with Chinese Fakes, Low Investment
Phyo Thu
Myanmar for small honey

businesses. Some locals
produce it on a small
scale. The price of farmland is increasing, so we
cannot make large honey
operations, U Phyo Aung
said.
,Q 0\DQPDU KRQH\ LV
produced in several regions and states, but Sagaing region produces the
most of it. Myanmar exports honey to Thailand,
Japan and the US, and
the market potential is increasing.
To produce quality
honey, the beehives are
placed on plum trees.
This honey is superior
because the bees feed on
SOXP RZHUV ,I ZH FDQ
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have long term potential.
said U Aung Khaing Soe.
Myanmar annually exports 4,500 tonnes of
honey. Honey business
leaders are hoping for an
increase in exports by 20
percent by next year. For
one hive, investors can
get K60,000 to K100,000
per year.
For the export wholesale market, one tonne of
honey can go for as much
as $2,000. The return on
investments is attractive,
so the association is aiming to expand honey businesses around Myanmar.
Myanmar Summary
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Pearl Production Set to Double

Phyo Thu
Phyo Thu
our new companies

are set to get pearl
production licences
while the industry estimates that production
will double in the coming

years, according to staterun Myanmar Pearl Enterprise (MPE).
Four local-foreign joint
venture companies and
four local companies are
currently operating in
Myanmar.
Regular buyers in Myanmar pearl auctions are
from Hong Kong, China,
America, Australia, Korea, Singapore, Taiwan,
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Zin Thu Tun
yanmars honey
is good enough
to enter the international market, but
there are myriad challenges in penetrating the
market, industry insiders
say.
When Myanmar faced
sanctions, Myanmar only
exported honey to neighbouring countries in the
ASEAN market, but now
it is trying to export honey
to the EU.
However, to get a foothold in those markets
WKHUH DUH PDQ\ GLFXOties that must be overFRPH 6SHFLFDOO\ &KLQD
exports a large amount of
low-quality and adulterated honey claiming that
it comes from Myanmar,
said U Aung Khaing Soe,
the secretary of the Myanmar Apiculture Association.
On the international
market, China has been
accused of selling counterfeit honey, and blending other substances into
it. Therefore, trust in Myanmars honey market
has been tarnished, he
told Myanmar Business
Today.
Every country prohibits the import of wholesale quantities of Chinese
honey, but Chinese honey

still keeps coming to Myanmar illegally, he added.
We need to prevent
this as soon as possible.
The government should
inspect and monitor honey supplies, and monitor Myanmars name on
Chinese honey. The Myanmar Apiculture Association should also be proactive to help Myanmars
market, U Phyo Aung,
chairman of the association, told Myanmar Business Today.
For the last three years,
honey from China has
been imported into the
country, so the authorities have warned consumers. That is our biggest
SUREOHP LQ QGLQJ LQWHUnational honey markets.
Also, in Myanmar, there
is a lack of investment
and technology, which is
another barrier.
Exports of Myanmar
honey are increasing,
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on a large scale.
For farmers, getting a
loan to start an apiculture
business is still in the discussion stage right now.
They face the problem of
acquiring farmland because of rising land prices.
The government does
not provide farmland in
,QGLD /HEDQRQ DQG -Dpan.

Daw Mya Mya Win,
manager of the distribution department of MPE,
said, Our Enterprise is
earning money for the
country. We are upgrading the quality of production and improving our
service.
To get permission to
produce pearls, companies will have to come to
a production sharing contracts with the MPE. The
country takes 30 percent
of production as a tax for
JV companies, and takes
25 percent from wholly
locally owned companies.
A total of 157,489 pearls
(or 323.41 kilograms)
worth
$7.67
million
were produced in 201213, while 229,149 pearls
(463.3 kilograms) worth
$13.7 million were produced in 2013-14.

Myanmar Summary
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mmbiztoday.com
LOCAL BIZ

mmbiztoday.com
Chilly Chan
$60 Million ADB Loan to Provide Sustainable

Urban Services in Mandalay
Mandalay skyline.
Thant Zin

has approved a $60
million loan to improve
the urban environment
and boost public health
through better water management in Mandalay.
The countrys secondlargest city is home to 2
percent of the population and generates about
8 percent of the national
GDP, however, infrastructure and urban service delivery remain very

weak.
The piped water system
reaches only 55 percent of
residents, sanitation consists of septic tanks connected to roadside drains
and latrines, and solid
waste is dumped into the
canals. Mandalay is also
SURQH WR LQWHQVH RRGLQJ
during the wet season.
ADB said the project
will build a new water

treatment plant and rehabilitate and extend the
existing supply network,
with the goal of raising
the number of households
connected to an uninterrupted water supply from
19,000 to 124,000.
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wastewater collection and
treatment plant to reduce
the direct discharge of
wastewater into canals
and creeks, and carry out

awareness programs for
residents on the environment and health.
The project will run for
seven years, with a target
completion date of March
2023.
Mandalay has enormous potential to become
a national economic centre, driving growth along
the economic corridor
OLQNLQJ ,QGLD WR &KLQD
through Mandalay. How-
ever urban services are

still substandard and the
city is highly vulnerable
WR WKH HHFWV RI FOLPDWH
change, said Eri Honda,
principal urban development specialist in ADBs
Southeast Asia Department.
The assistance will focus on providing modern
water supply and wastewater management, and
making these sustainable.
A special feature of the
project will be the generation of biogas from
sludge, which will be
used to produce electricity to provide up to half
the wastewater treatment
plants power needs.
ADBs loan will be
complemented by $56.8
PLOOLRQ LQ FRQDQFLQJ
with $46 million from
the French development
agency Agence Franaise
de Dveloppement, $6.8
million from the EuroSHDQ 8QLRQV $VLDQ ,Qvestment Facility, and $4
million from the Urban
Climate Change Resilience Trust Fund. Myanmar will provide counterpart support of $13.1
million.
Myanmar Summary
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%/3WR2SHQ2FHLQ0\DQPDU
Appoints Chris Hughes as Partner
Aye Myat
ment provides real local

knowledge which will be
RIKXJHEHQHWWRRXUFOLents.
The legal market is in
growth mode in Myanmar
and this provides great
opportunities for BLP in
a country which is now
opening up to increased
international investment
into infrastructure, real
estate, telecommunications and transport to
name a few. By opening
here, we will be able to
provide world class legal
services, helping the development and transition
of Myanmar. Feedback
from our existing clients
in Myanmar, as well as
prospective clients across
the wider region, shows it
is the right time to have a
physical presence in the
country and highlights
KRZZHDVD)LUPDUHH[ible and nimble enough
to respond to our clients

needs.
Chris Hughes is an
emerging markets transactional lawyer with experience in M&A activity,
QDQFHGHDOVDQGSURMHFWV
work. He is also the lead
draftsman on the Asian
Development Bank sponsored Myanmar Company
Law reform process.
Having worked in Myanmar for a couple of
\HDUV QRZ , XQGHUVWDQG
the challenges and opportunities associated with
businesses entering into
frontier markets. Many
companies from Europe
and North America are
now ensuring that investment into Southeast
Asia, and particularly
Myanmar, is a big part of
any growth strategy,
Hughes said.
Hk;cef;tm; OD;aqmifEikd &f ef ceft

Y yf
cJhonf/tqdkygHk;cef;zGifhvSpfjcif;
NAdwdeftajcpdkufOya'vkyfief; onf ,if;Oya'vkyfief;twGuf
Berwin Leighton Paisner EdkifiH 12 ckwGif 14 ckajrmuf
(BLP) onf jrefrmEdkifiHonf k H ; cef ; zG i f h v S p f j cif ; vnf ; jzpf N yD ;
}LIZGN<?+NFHIZSIFNXGN ]*LIKY6SI vuf&SdtcsdefwGif tm&Swdkuf&Sd
awmhrnf[k od&onf/
wkwf? a[mifaumifESifhpifumyl
BLP onf ,cif Baker & wdkYwGif Hk;cef;rsm; zGifhvSpfxm;
McKenzie \refae*sif;ygwem onf[k od&onf/
a[mif;jzpfol c&pf[ck su
f kd &efuek f
Myanmar Summary
BLP
erwin
Leighton
Paisner (BLP) is set
WR RSHQ LWV RFH LQ
Myanmar, the UK-based
ODZ UP DQQRXQFHG MXVW
on the heels of Myanmars
historic election that saw
a shift in power from the
military establishment towards a democratic government.
BLP appointed Chris
Hughes, former managing partner in Baker &
0F.HQ]LHV<DQJRQRFH
to lead this expansion as
Partner.
7KLV ZLOO EH WKH UPV
WK RFH LQ LWV WK
country as it extends its
presence in Asia where
LW FXUUHQWO\ KDV RFHV LQ
China, Hong Kong and
Singapore.
Over the last few years,
WKHUPKDVEHHQWU\LQJWR
make inroads into Myan-
mar and in 2013 advised

UK-based construction
UP )RVURF RQ LQYHVWLQJ
in the country.
BLP said the opening of
WKHRFHZLOOKHOSWKHUP
capitalise on the improving investment climate in
the region. According to
the Asian Development
Bank, Myanmar is targeting a 2016 GDP growth
of 8.2 percent, driven by
foreign investment and
rapid expansion in its telecoms sector.
Bob Charlton, head
of Asia, BLP, said in a
statement, With further
political stability and clients demanding more insightful expertise across
Southeast Asia, this is the
perfect time for BLP to
expand its presence in the
region. Myanmar is one of
the most emerging of the
South East Asian economies and Chris appoint-
Chris Hughes.
7
mmbiztoday.com
LOCAL BIZ

mmbiztoday.com
Fish Farm Loss Estimated Laboratory Equipment to

at K45 Billion
Undergo Greater Scrutiny
Tin Mg Oo
XH WR WKH RRGLQJ

in July and August,
RQHIWKRIWKHVK
and prawn farming sector of Myanmar has been
destroyed and about K 45
billion has been lost, Myanmar Fisheries Federation announced.
There
are
about
DFUHVRIVKDQG
prawn farms in Myanmar.
7KH ORVV RI VK IDUPV LV
over 35,000 acres and
the loss of prawn farms is
over 58,000, according to
the Federation.
$ WRWDO RI VK IDUPers lost 16,643.8 acres of
VKIDUPVLQ1\DXQJ7RQH
Hinthada and Thabaung
townships of Ayeyarwady
region, while 435 farmers
have lost 7,476.5 acres of
VKIDUPVLQ0LQKOD*\REingauk, Thegon, Letpadan,
Padaung, Thanatpin, and
Thayarwady townships of
Bago region, and 72 farm-
ers have lost about 11,000

DFUHVRIVKIDUPVLQ+WDQtapin and Taikkyi townships of Yangon region.
$GGLWLRQDO VK IDUPV
have also been lost in Sagaing and Mandalay region, the Federation said.
Due to the damage, lots
RI VK ZHUH ORVW DQG WKH
SULFHRIVKLVKLJKHUWKDQ
QRUPDODWWKHPRPHQW,Q
WKH IXWXUH WKH VK SURduction will be lower, the
VKSULFHZLOOUHPDLQKLJK
DQG VK H[SRUWV ZLOO GHcrease, said U Win Kyaing, secretary of the Federation.
With the support of the
ministry and donations
from the Myanmar Fisheries Federation, we will
EX\ VK DQG GLVWULEXWH
WKHPIRUIUHHWRVKIDUPers. We are also drawing
plans to protect from future natural disasters,
said U Than Lwin, chairman of Myanmar Fish
Farmers Association.
Myanmar Summary
2015 ckEpS f Zlvikd v

f rS Mo*kwfv
txd jrefrmEdkifiHtESHUjzpfyGm;cJh
aom a&BuD;a&vQHrIrsm;aMumifh
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u@rsm;rSm 20 &mcdkifEIef;cefY
ysufpD;cJhNyD; 50 bDvD,HusyfcefY
ysupf ;D qH;k I;H cJah Mumif; jrefrmEdik if H
ig;vkyfief;tzGJUcsKyfrS Mo*kwfv
27 &ufaeYwGif xkwfjyefcJhonf/
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ysufpD;rIrSm{u 34720.139 &Sd
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&cdkifjynfe,ftwGi;f &SdykZGefarG;jrL
a&;uefysufpD;rIrSm wpf{uvQif
75000cGJcefYjzifhusyf 4.5 bDvD
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ysufpD;cJhaMumif; jrefrmEdkifiHig;
vkyfief;tzGJUcsKyfrS od&onf/
Moh Moh Kyi
hose who wish to

import laboratory
apparatuses
will
have to apply for import
licence, said Dr Maung
Aung, adviser to the Ministry of Commerce.
The importation of laboratory apparatuses didnt
need an import license in
the past. The new measXUH ZHQW LQWR HHFW ODWH
last month.
Due to some improper
importing of laboratory
devices, we will put it into
negative list and all laboratory apparatuses importing will need import
licence, Dr Maung Aung
said.
We put laboratory apparatuses and devices in
the Negative list because
the science and technology ministry asked this
of us, said U Myint Cho
from Trade Promotion
Department of the Minis-
try of Commerce.
As Myanmar is the
member of WTO and
ASEAN, Myanmar needs
to follow the Agreement
RQ,PSRUW/LFHQVLQJ3URcedure which in practice
at the moment.
Over 4,000 goods now
need to have import licences starting from October 30.
Myanmar Summary
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oGif;ukefvdkifpifavQmufxm;&ef
rvdkbJ cGifhjyKay;cJh&mwGif rrSef
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Myanmar
armifatmifu
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xm;&ef owfrSwfvdkufjcif;rSm
jrefrmEkdifiHtaejzifh urmhukef
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Agreement on Import
Licensing Procedurest t&
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hf kH;vsu&f Sad om
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vdkifpifavQmufxm;&efrvdkonfh
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vkdifpifavQmufxm;&ef vdktyf
onfh (Negative List) tjzpf
jyefvnfxnfhoGif;cJhonf/
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jyefxnfhvdkuf&wmu oufqdkif
&mXmejzpfwJh odyHeJY enf;ynm
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cef;oHk;ypnf;awGudk oGif;ukef
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ESifhul;oef;a&mif;0,fa&;0efBuD;
Xme ukefoG,frIjrifhwifa&;OD;pD;
XmerS OD;jrifhcsKdu ajymonf/
Eastern Shan State Opens Rice Exports to China

Zin Thu Tun
ice from eastern

Shan state has
once again been
permitted to be exported
to China through border
trade, according to an
announcement from the
Ministry of Commerce.
'XH WR WKH JKWLQJ
border trade had been
closed. Now the region is
peaceful and the conditions are stable, so the

border has been opened
and rice exports are permitted again, said U
Khin Maung Lwin, deputy
director from the Ministry of Commerce.
Rice export in eastern
Shan state was halted for
eight months due to the
DUPHG FRQLFW LQ /DXNkaing regions. Then rice
exports were permitted

again recently.
Rice production of eastHUQ 6KDQ VWDWH FDQ IXOO
regional rice demand and
can produce a surplus of
80,000 tonnes per year,
which prompted the export of rice to China in
2012.
Myanmar exports over 1
million tonnes of rice every year, and 60 percent
of exports goes to China,

35 percent to Africa and
5 percent to Europe, according to Ministry of
Commerce statistics.
Myanmar Summary
&S rf; jynf e ,f t a&S U yd k i f ; a'o

xGufqefrsm;udk wkwfEdkifiHodkY
e,f p yf r S w pf q if h w if y d k Y c G i f h u d k
jyefvnfcGifhjyKvdkufNyDjzpfaMumif;
pD;yGm;a&;ESifhul;oef;a&mif;0,f
a&;XmerS od&onf/
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ausmf ydkvQHaeaomaMumifh NyD;cJh
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wifydkYvsuf&SdaMumif;?jrefrmEdkifiH
rS j ynf y od k Y w if y d k Y v suf & S d a om
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wif y d k Y a eaMumif ; pD ; yG m ;a&;ES i f h
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,m;rsm;t& od&onf/
9
mmbiztoday.com
LOCAL BIZ
10
mmbiztoday.com
Myanmar Gets $2 Million from ADB to

Improve Road Network and Safety
Zin Thu Tun
ADB rS twnfjyKvdkufaMumif;
od&onf/
he price of Myanmar mung beans

reached a record
high in mid-October of
K2.5 million per tonne,
according to Myanmar
Pulses, Beans and Sesame
Seeds Merchants Association.
The regular quality
mung bean price hit K2.3
million per tonne and
standard quality mung
bean price has reached
K2.5 million per tonne,
compared to K1.7 million per tonne a couple of
months ago, said U Min
Ko Oo, secretary of the
Association.
1RUPDOO\ ,QGLD SURduces mung beans in September and October but
,QGLDV PXQJ EHDQ SURduction has been low for
this year. So it has bought
more mung beans from
Myanmar, causing the
price of mung beans to
rise.
,QGLDV EHDQ SURGXF-
wnfaxmifxm;aom *syefEdkifiH
&efyHkaiGrS wpfqifhay;tyfjcif;
Myanmar Summary
jrefrmEdik if t
H wGi;f vrf;uGe&f uf
pDrHcefYcGJrIESifhtE&m,fuif;a&;
wdkYtwGuf tar&duefa':vm
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$Q$'%JUDQWZLOOKHOSSUHSDUHWKHUVWSKDVHVRIQDWLRQDOKLJKZD\XSJUDGHVDQGURDGVDIHW\SURJUDPV
in Myanmar.
Myanmar Mung Price

Reaches Record High in Oct
Zayar Nyein
tqdyk gtaxmuftyHu
h kd qif;&J
EG r f ; yg;rI a vQmh c sa&;twG u f
ADB

has approved a $2
million grant to help improve road management
and safety in Myanmar.
ADB said the grant will
help the Ministries of
Construction and Rail
Transportation to prepare
WKHUVWSKDVHVRIQDWLRQal highway rehabilitation
and national road safety
programs.
This will include the
preparation of technical
designs for pavement repair and upgrades on at
least 500 kilometres of
highways.
The assistance will also
be used to advise on road
safety policies, as well
as to upgrade and institutionalise an ADB-supported road database and
pavement management
system, the lender added.
The poor condition of
Myanmars road network
makes transport costly

and slow, and this hinders
economic growth, said
Adrien Vron-Okamoto,
transport specialist in
ADBs Southeast Asia Department.
Also, Myanmars road
safety is in a dire state,
with 4,300 road deaths
LQ ,I UHFHQW WUHQGV
continue unchecked, fatalities could double in
WKHQH[WYH\HDUV
The grant is provided by
the Japan Fund for Poverty Reduction, and will
be managed by ADB. Programs will be designed to
OHYHUDJH IXUWKHU QDQFing, including from the
government and other development partners, with
project implementation
to start in 2017.
tion has been low this

year and other exporters
FRXOGQW OO WKLV GHPDQG
However, Myanmar also
doesnt provide that many
beans. So, the price rose,
said U Min Ko Oo.
The supply dearth has
also led to slow sales inside the country, traders
say.
Ko Lar Lu, a trader at
Bayintnaung market, told
Myanmar Business Today, The price is rising
and there are no mung
beans to sell. The bean
seeds, which are to be
kept for the next season,
are pretty much all that
remain. People cannot
buy the amount they want
from the market now.
Myanmar Summary
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ESifh ESrf;ukeftoif;twGif;a&;rSL;
ODrif;udkOD;u ajymonf/
jrefrmEdkifiH rwfyJudk Ed0k ifbmv
ESifh 'ZD ifbmvwdkw
Y iG f pwifpu
kd yf sK;d
NyD; azazmf0g&DvESifh rwfvwGif
rwfyt
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f nft
h wGuf
cd k i f r monf h t mrcH c suf r sm;ES i f h
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ta&mif;t0,fvkyfoifhaMumif;
yJta&mif;t0,fjyKvyk af eolrsm;
xHrS od&onf/
wl ; azmf j cif ; vk y f i ef ; rsm;\

tcGefay;aqmifrIrsm; yg0ifrnhf
An external company, EITI
yxrqHk;tpD&ifcHpmudk
Moore Stephens, has
vmrnfh 'DZifbmv 30 &ufwGif
worked as an auditor for
the report and checked aemufqHk;xm;um wifjyoGm;
k if H EITI
the taxation on compa- rnfjzpfaMumif; jrefrmEdi
nies.
ndEdiI ;f azmfaqmifa&;H;k rS od&onf/
We cant include hyEdkifiHwum EITI bkwftzGJUu
dropower plant projects
Zefe0g&Dv 2 &uf aemufqHk;
and the timber industry
S x
f m;aomf
in this report. We made xm;wifjy&ef owfrw
EITI azmfaqmifa&;
this decision with the vnf;
agreement of all mem- oHk;yGifhqdkiftzGJU\ aqG;aEG;rIrsm;
bers, Salai Kyone Hlang t& tqdkyg&ufudk owfrSwf
Htawn, a member of the
vdkufjcif;jzpfonf/ tpD&ifcHpm
(,7,
LPSOHPHQWDWLRQ
group, told Myanmar wGif a&eHESifhobm0"mwfaiGU
vkyfief; 100 &mcdkifEIef;\
Business Today.
Analysis of the state- tcGefay;aqmifrIudk xnfhoGif;
owned oil and gas indus- oGm;rnfjzpfaomfvnf; owK
try and mineral mines
vkyfief;twGuf 50 &mcdkifEIef;
will also be included in
the report. The ill-fated ESihf jyyGJrsm;rS ausmufpdrf;ausmuf
Letpadaung copper mine rsufvkyfief;rsm;rS 67 &mcdkifEIef;
case will be included as a wdkYudkom xnfhoGif;oGm;Ekdifrnf
special case, Ko Min Zarni jzpf a Mumif ; tqd k y gtzG J U rS
Lin said.
udkrif;Zmenfvif;u ajymonf/
The Letpadaung mine
]]EdkifiHawmfudk ukrPDawGu
project is still being excavated and the taxation ay;wJhtcGefawG Xmewpfckcsif;
isnt complete yet. But we tvdu
k jf zwfoef;orQuykd g aqmif
are going to put it in as &G u f o G m ;r,f / tpD & if c H p mxG u f
a special case because of
vmwJ h t cg tpd k ; &,E & m;eJ Y
WKH FRQLFW VXUURXQGLQJ
ukrPDawG&JU tm;enf;csufawG
this project, he said.
udk pm&if;tif;eJY udef;*Pef;eJY
Myanmar Summary
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11
mmbiztoday.com
LOCAL BIZ
12

mmbiztoday.com
Hilton Opens Vocational Training Centre

Facility to focus on developing talents in travel and hospitality industry
Ei Thandar Tun
Hilton Vocational Training Centre now has 40

trainees who are going
through intensive classroom and practical sessions with a team of multinational teachers.
Upon completion of
the program, successful
graduates will be awarded
D'LSORPDWKDWLVFHUWLHG
by the Ministry of Hotels
and Tourism as well as
RHUHG HPSOR\PHQW ZLWK
Hilton properties in vari-
Hilton
ilton
Worldwide has recently
opened the Hilton
Vocational Training Centre at the Hilton Naypyitaw in Myanmars capital
city.
The American hotel
chain said the facility
aims to develop the next
generation of hotel operations leaders and meet the
demand for young talent
in the countrys booming

hospitality and travel industry.
The Hilton Vocational
7UDLQLQJ&HQWUHZLOORHU
24-month training programs in the areas of food
and beverage operations,
IURQW RFH FXOLQDU\ DQG
housekeeping.
According to Helen Jacobe, cluster general manager for Hilton Naypyitaw
and Hilton Resort & Spa
Ngapali Myanmar, the
A trainee at Hilton's Vocational Training Centre.
From page 1...

Upgrading this stretch
of the road will complete
improvements to the
Myanmar sections of the
GMS East West-Corridor.
This will open up new
economic opportunities
for the state and country and support inclusive
growth.
The completion of the
Myanmar sections of the
corridor will link Da Nang
in Vietnam with Mawlamyine and Yangon. Along
with the ADB-assisted
project, Thailand is separately supporting improvements to the road
linking Kawkareik and
Myawaddy on the border
with Thailand, while the
section between Eindu
and the main YangonMawlamyine
highway
is being rehabilitated
through a governmentmanaged
build-operate-transfer concession
operated by a private Myanmar company.
ADBs loan comes from

its concessional Asian
Development Fund. AdGLWLRQDO FRQDQFLQJ VXSport of $20 million is
being provided by the
$6($1
,QIUDVWUXFWXUH
Fund, with the Myanmar
providing
counterpart
support of $1.8 million.
From page 1...
awGjzpfapcJhygw,f}}[k ADB
ta&S Uawmiftm&SXmerS ydaYk qmif
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omu ajymonf/
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aqmif r I E S i f h puf b D ; qd k i f u ,f
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hf if
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taemuf p Bu & J U jref r mEd k i f i H
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aqmif&u
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ous locations.
,W LV RXU UHVSRQVLELOity as seasoned industry
professionals and members of a global hospitality leader to help groom
this next generation of
talent within our communities. The Hilton Vocational Training Centre
provides world-class and
hands-on training to develop the potential of Myanmar people who have
the talent and ambition
to grow in the hospitality
and tourism industry with
Hilton in Myanmar and
beyond, Jacobe said.
Last year, Myanmar attracted 3.08 million international tourist arrivals. This year, Myanmar
LV H[SHFWHG WR DWWUDFW YH
million. Although these
government-provided
JXUHV DUH TXHVWLRQHG E\
experts.
As demand grows faster than the development
of talent, the need to boost
and maintain the standards of visitor experience
becomes ever more vital.
This is why one of our

UVW VWHSV EH\RQG EXLOGing hotels, is to shore up
our people development
process through the Vocational Training Centre.
We also believe that this
RHUV XV D WUHPHQGRXV
opportunity to build the
talent pool and set the
benchmark in Myanmar,
she added.
Hilton entered Myanmar in 2014 through a
deal with Eden Group
WR RSHQ YH SURSHUWLHV
in Myanmar. Two hotels
have since opened and
rest are expected to open
in the next three to four
years, according to Hilton.
Myanmar Summary
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awmfwGif [DvfweftoufarG;
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udk zGifhvSpfcJhaMumif; od&onf/
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ESifhc&D;oGm;vkyfief;aMumifh EdkifiH
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ausmif ; qd k i f & moif w ef ; Xme
taejzifh tdyfcef;xdef;odrf;jcif;?
{nfhBudKtpm;taomuftazsmf
,rumESifh csufjyKwfa&;qdkif&m
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ay;tyfoGm;rnf[k od&onf/
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vk y f i ef ; pk t axG a xG r ef a e*sm
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toufarG;0rf;ausmif;oifwef;
taejzifh vuf&SdtcsdefwGif oif
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ajymcJhonf/
tqdyk goifwef;Ny;D qH;k atmifjrif
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oGm;vma&;vkyif ef;rS todtrSwfjyK
vufrS w f xk wf ay; vsuf &Sd NyD;
[Dvfwef\ ajrmufrsm;pGmaom
ae&mrsm;wGif tvkyftudkifrsm;
&&SdEkdifrnf[k qdkonf/
REGIONAL BIZ
13
mmbiztoday.com
GE Wins $2.6b Locomotive Deal

in Largest India Award
Rick Clough
Bloomberg
eneral Electric
Co won a $2.6
billion contract to
build diesel locomotives
IRU,QGLDVFRQJHVWHG
state-owned railway, the
companys largest deal
in a country striving to
modernize the oldest
network in Asia.
GE will invest $200
million to build a factory
in northern Bihar state
under a joint venture
ZLWK,QGLDQ5DLOZD\V
The goal is to produce
1,000 diesel locomotives over 11 years, one
of Prime Minister Narendra Modis biggest
steps toward reversing
chronic network underinvestment and spurring
domestic manufacturing.
,QYHVWPHQWLQUDLO
infrastructure has been a
WRSLFLQ,QGLDIRUTXLWHD
long time, Jamie Miller,
who was appointed
FKLHIH[HFXWLYHRFHU
of GE Transportation
$UDLOZD\HPSOR\HHVWDQGVRQIULHJKWWUDLQDVVPRNHFRPHVRXWIURPUHDWWKHUDLO\DUGDW0XJKDOVDUDL
Rail Junction in Mughalsarai, India.
in September, said in
a telephone interview.
The new deal supports
the modernization of the
,QGLDQUDLOURDGVDQGLW
contributes to the local
economy.
The pact, the companys
largest-ever transportation deal, boosts the
locomotive division that
has become central to
GEs business as CEO

-HUH\,PPHOWUHWXUQV
the company to its industrial roots. Hes shedding
QDQFHDQGFRQVXPHU
focused divisions while
bulking up the units making products spanning jet
HQJLQHVRLOHOGHTXLSment and gas turbines.
7KHFRQWUDFWZLWK,QGLD
follows the premiers
recent decision to open the

doors to foreign investment in railroads, part of
a push for an ambitious
8.5-trillion-rupee ($128
billion) revamp of the
railway through 2020. The
award is the largest in GEs
100-year history in the
country, Miller said.
Modis vision is to add
track, world-class sta-
tions and bullet trains to

VSXUWKHHFRQRP\,QGLD
also plans to transport
more freight, such as
coal, on dedicated lines.
Running costs from
ferrying about 23 million
passengers -- equivalent
to Australias population
-- and 3 million tons of
cargo daily absorb most
of the railways revenues,
starving the network of
investment.
The Railway Ministry
said the new GE-built
factory will supply
4,500-horsepower and
6,000-horsepower
engines. The company
DLPVWRGHOLYHUWKHUVW
locomotives in the second
half of 2017, Miller said.
Dalian Locomotive &
Rolling Stock, CSR Corp.
and Electro-Motive DieVHO,QFDOVRELGIRUWKH
tender in 2013.
)DLUHOG&RQQHFWLFXW
based GE has placed a
particular emphasis on
international and emerging markets with moves
including the $10.6 billion acquisition of Alstom

SAs energy business,
which closed last week.
GEs jet-engine unit said
Monday that it signed
a $16 billion services
agreement with Emirates
Airline.
Bloomberg
Myanmar Summary
tdE,
d Edik if \
H jynfMh uyfaeonfh
EdkifiHydkif rD;&xm;vrf;uGef,uf
rsm;twGuf GE vQyfppf
ukrPDonf tar&duefa':vm
2.6 bDvD,Hwefzdk;&Sd 'DZ,f
rD;&xm;pufacgifrsm; wnf
aqmuf&ef oabmwlnDrI&&Sd
cJhonf[k od&onf/
tm&S\ oufwrf;t&ifhqHk;
rD;&xm;vrf;uGef&ufrsm;udk
acwfrDatmif jyKvkyf&efjzpfNyD;
tqdkyg oabmwlnDrIonf
ukrPDtwGuf tBuD;rm;qHk;
jzpfcJhonf/
GE ukrPDonf tdEd,
rD;&xm;vrf;ukrPDESifh yl;wGJ
&if;ESD;jrKyfESHrI jyKvkyf ajrmuf
ydkif; bD[mjynfe,fwGif pufHk
wpfckwnfaqmuf&ef tar&d
uefa':vm oef; 200 &if;EDS;
jrKyfESHoGm;rnf[k od&NyD;
vmrnfh 11 ESpftwGif; 'DZ,f
rD;&xm;pufacgif;
wpfaxmifxkwfvkyfEdkif&ef
&nfrSef;xm;onf/
REGIONAL BIZ
14
mmbiztoday.com
Indian Companies Struggle to Escape Debt

%XUGHQDV3URW6ORZV
Lu Jianxin &
John Ruwitch
SHUFHQWRI,QGLD
VJURVV
domestic product.
Disappointment over
earnings has helped send
,QGLDQVKDUHVGRZQIRU
two consecutive weeks
now and pushed the
broader market into
negative territory for the
year, with the main index
down about 5 percent.
7KHDELOLW\WRVHUYLFH
debt, as measured by
interest coverage, is conWLQXLQJWRGHWHULRUDWH
said Rakesh Valecha,
head of credit and market
research at credit agency
,QGLD5DWLQJV
0LGZD\WKURXJK,QGLD
V
VFDO\HDUGHEWWR
equity ratios at the 53
Prashanth Vishwanathan/Bloomberg
RUHSURWJURZWKDW
,QGLD
VWRSFRPpanies has slowed
down sharply from last
year's levels, hampering
HRUWVWRFXWGHEWLQRQH
of Asia's most leveraged
corporate sectors and
dampening the private
investment needed to
spur sluggish economic
growth.
With a majority of
,QGLDQFRPSDQLHVDOUHDG\
UHSRUWLQJQDQFLDOUHVXOWV
for the quarter to end6HSWHPEHUWRSUPV
have shown collective 9.4
percent growth in core
SURWWKHVORZHVWVLQFH
January-March 2013,
according to Thomson Reuters data. That
compared with average
TXDUWHUO\SURWJURZWKRI
16.9 percent in the previRXVQDQFLDO\HDUWKDW
ended in March, the data
showed.
6ORZLQJSURWJURZWK
will weigh on spending
by the companies, which,
analysts say, are already
utilising the majority of
WKHLURSHUDWLQJSURWWR
service interest costs.
'HEWIRU,QGLD
VFRPpanies covered by Thomson Reuters StarMine
reached more than $640
billion, or more than 40
Workers assemble motorcycles on the production line at the Honda Motorcycle & Scooter India Pvt.
plant in Manesar, India.
companies had fallen

only slightly to 1.05 from
1.10 in the six months to
March - still the highest
in Asia, and more than
double the 0.40 in China,
the data showed.
But debt-to-forward
FRUHSURWHVWLPDWHVD
broad measure of how
many years it would take
WRSD\RGHEWURVHWR
2.39 in the April-September period from 2.30 in
WKHSUHYLRXVVFDOKDOI
year. That means it could
WDNHDOPRVWYH\HDUVRI
DQQXDOSURWVWRSD\DOO
debts.
Concentrated Debt
&RUSRUDWHGHEWLQ,QGLD
is particularly high in the
resources, infrastructure
and construction sectors, along with telHFRPVZKHUHUPVSDLG
handsomely to snap up
spectrum.
Credit Suisse estimates
,QGLDQFRQJORPHUDWHV
with the biggest gross
debt, including infrastructure builders Lanco
Group and GVK Group,
have debt that is seven
WLPHVFRUHSURWZKLOH
their interest cover, a
measure of their ability
to pay down debt, is less
than one, below the 1.5
that is generally considered as the minimum
necessary.
The result is companies
are focusing on cutting
back that debt, at the
expense of much-needed
VSHQGLQJ,QGLD5DWLQJV
estimates two-thirds of
RSHUDWLQJSURWDPRQJ
the country's top companies is being used to
service interest.
The lack of private
spending was seen as a
major reason why the
economy grew more
slowly than expected in
WKHUVWWKUHHPRQWKVRI
,QGLD
VVFDO\HDUWKDW
runs from April to March.
The government is now
stepping up to take up
some of the private sector
investment slack, seeking
to build roads, highways
and railways. But how
much it can ultimately
spend is in doubt given it
is also diverting some of
its budget funds to bail
out state-owned banks
DQGKDVDGHFLWWDUJHW
to hit.
7KH\KDYHXVHGWKH
VFDOVSDFHWRSXVKWKHLU
spending on building
URDGLQIUDVWUXFWXUHVDLG
Somasekhar Vemuri, a
VHQLRUGLUHFWRUDW&5,6,/
Ratings.
:KHWKHUWKLVLVHQRXJK
to revive animal spirits,
we'll have to wait and
ZDWFKReuters
Myanmar Summary
tdEd,edkifiHxdyfwef;ukrPD
rsm;onf tjrwfaiGusqif;rI
rsm;ESifh &ifqdkifae&aMumif;
od&onf/ NyD;cJhaom oHk;vwm
twGuf tdEd,ukrPDrsm;\
wdk;wufrIudef;*Pef;rsm;
xGufay:vmNyD;jzpf&m
xdyfwef;ukrPD 53 ck\
pkpkaygif;wdk;wufrIrSm 9.4
&mcdkifEIef;om&dScJhonf/
}LIZGNZXIU,U6P
Zefe0g&D-rwf oHk;vwm
umvNyD;aemuf taES;qHk;
wdk;wufrIjzpfonf[k dkufwm
aomfrqif\tcsuftvufrsm;
t& od&onf/
,refESpf oHk;vwmysrf;rQ
wdk;wufrIEIef;jzpfonfh 16.9
&mcdkifEIef;ESifh EIdif;,SOfyguvnf;
,ckwdk;wufrIEIef;rSm tvGefyif
enf;yg;aeonfudk awGU&onf/
tqdkygukrPDrsm; wdk;wufrI
EIef; aES;auG;jcif;aMumifh
tjrwfaiGusqif;rIrsm;ESifh
&ifqdkifae&jcif;vnf;jzpfonf/
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963 ckwdkYonf ta<u;a':vm
640 bDvD,HcefY wif&dSaeNyD;?
}LI\UP3U6PWG(G(GNLIL+ V'
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40 &mcdkifEIef;ESifh nDrQonf/
tjrwfaiGusqif;rIaMumifh
tdEd,
ukrP
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EIef;rsm;rSmvnf; aps;uGuf
twGif; usqif;aeonf/
China C.bank Chief Sees Yuan as Intl Currency

by 2020 on Deepening Reforms
Lu Jianxin &
John Ruwitch
40 percent.
Beijing has also intervened in its currency
market after an abrupt
devaluation by the central
bank in August caused
widespread worries over
the yuan's future value.
Zhou said China will
foster new mechanisms
WRSURPRWHQDQFLDOOLEeralisation and developPHQWDVZHOODVHQKDQFH
WKHHFLHQF\RIWKH
QDQFLDOV\VWHPWRVHUYH
WKHUHDOHFRQRP\
,WZLOOHHFWLYHO\XVH
DQGGHYHORSQDQFLDOULVN
control tools, and reduce
levels of leverage so as to
SUHYHQWV\VWHPLFULVNKH
said.
Zhou pledged to im-
prove central bank communications on policy

intentions, but didn't
RHUGHWDLOVRQZKHWKHU
policy makers will proYLGHURXWLQHEULHQJVWR
accompany rate announcements similar to
other developed economies.

Reuters
Myanmar Summary
wkwfEdkifiHtaejzifh vmrnfh
ig;ESpftwGif; pD;yGm;a&;ESifh
b@ma&;qdkif&m jyKjyif
ajymif;vJrIrsm; jyKvkyfoGm;jcif;
onf 2020 ckESpfwGif wkwf
,GrfaiGudk EdkifiHwumaiGaMu;
wpfckjzpfvm&ef ulnDEdkifvdrfh
rnf[k wkwfA[dkbPfOu|
Zla&SmifcRrf;u ajymcJhonf/
Nelson Ching/Bloomberg
hina will deliver a

slew of economic
DQGQDQFLDOUHIRUPVRYHUWKHQH[WYH
years, which will help the
yuan become an international currency by 2020,
central bank governor
Zhou Xiaochuan said in
an article.
The reforms will also
include improving central
bank communications
and guiding market
expectations to enhance
monetary policy, Zhou
wrote in the Caixin article
published on the magazine's website.
Zhou said the govern-
ment will strengthen

VXSHUYLVLRQRILWVQDQcial system to prevent
V\VWHPLFULVNH[SODLQing China's proposed
13th Five-Year economic
plan for the years 2016 to
2020.
The comments around
policy priorities come
amid growing doubts in
global markets about China's commitment to see
through comprehensive
QDQFLDOUHIRUPV
Those doubts were
sparked after Beijing
intervened in the stock
markets during a share
price rout that started in
June and saw the main
Shanghai Composite
,QGH[SOXQJHDVPXFKDV
15
REGIONAL BIZ

mmbiztoday.com
9LHWQDP&RHH*URZHUVLQ1R+XUU\WR3LFN
Beans as Prices Slide
Diep Pham
Bean Hoarding
Farmers held 275,000
tons at the end of September, or 17 percent of
the harvest, according to
the survey last month.
That compares with
70,000 tons, or 4 percent
of the crop, a year earlier.

Exports from Vietnam
declined 29 percent in
WKHUVWPRQWKVRIWKH
year to about 1.06 million
tons, the lowest since
2011, according to the
FRXQWU\VVWDWLVWLFVRFH
Precipitation from
April to October in Dak
Lak, which accounts for
about 30 percent of the
harvest, was 26 percent
lower than a year earlier
and 13 percent less than
the average of previous
years, according to the
Meteorology and Hydrology Department. Rainfall
in November in Central Highlands and the
southern part of Vietnam
may be 20 percent to 40
percent less than normal,
the National Center for
Hydro-Meteorological
Forecasting said on Nov
1.
Dry weather has already
reduced bean size this
season. Output was
revised down to 1.65
Banks Dollar Borrowing Adds Layer of

Risk to Malaysias Creeping Crisis
Vidya Ranganathan
o get an idea of how

fragile Malaysia's
external account is,
consider this: the amount
of foreign money invested
in ringgit bonds and the
dollar borrowings of its
banks will together more
than wipe out the country's currency reserves.
Eighteen years after being battered by the Asian
QDQFLDOFULVLV0DOD\VLD
is once again facing a
perilous combination
of heavy short-term
overseas borrowings by
banks and scarce foreign
exchange reserves.
Add in a festering political scandal and looming
interest rate rises in the
United States and the
country is showing many
of the symptoms that
could presage another
currency crisis.
The ringgit has plummeted and credit markets are pricing in deep
concern over Malaysia's
H[WHUQDOQDQFHV5LFKHU
Malaysians are slowly
shifting money abroad.

,WGHSHQGVRQZKDW
will be the catalyst that
turns the worry into a
FULVLVVDLG3DWULFN<DX
an equity analyst with
&LWLLQ6LQJDSRUH7KH
big question is whether
there is enough funding
to prevent a crisis. The
system was over-reliant
on foreign funding in the
SUHYLRXVFULVLV
The foreign currency
liabilities of Malaysian
banks alone account for
nearly half of the country's $98 billion overseas
borrowings. Overseas
investor holdings of Malaysian central bank and
government debt are $47
billion and the country's
total short-term debt has
doubled since 2009 to
$79 billion.
Bankers in Kuala
Lumpur say they have
learnt their lesson from
the 1997 crisis, and thus
their foreign currency
borrowings are mostly
RVHWE\PDWFKLQJGROODU
lending.
,WKLQNWKHULVNLVIURP
WKHFXUUHQF\YRODWLOLW\
Nazir Razak, chairman of
Malaysia's second-largest
EDQN&,0%WROG5HXWHUV
in an interview.
7KHULVNZRXOGEHLI
the currency depreciation
results in a credit event
where borrowers really
VXHUDVDUHVXOWRIWKH
drop in currency, wherein
they actually have dollar
cost basis. That is when,
on a second order basis,
EDQNVZLOOJHWDHFWHG
Reuters
Myanmar Summary
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Claire Leow/Bloomberg
KHFRHHKDUYHVW
in Vietnam, the
top producer of
robusta beans used by
Nestle SA, is progressing
at a slower-than-normal
pace as low prices and
high inventories from the
previous crop discourage
farmers from picking new
fruit.
Growers reaped about
2.5 percent of the 201516 crop in October, when
harvesting began, according to the median of eight
estimates from traders
surveyed by Bloomberg. That compares
with 4 percent a year
ago and the typical level
of about 5 percent, the
survey showed. Output
is forecast at 1.65 million
metric tons, according to
a survey last month.
Robusta futures
slumped about 21 percent
from this years peak in
February, prompting
Vietnamese farmers to
hold supplies in anticipation of higher prices.
Unsold inventories held
by growers at the end of
September were nearly
four times the stockpiles a year earlier. The
hoarding, which has
EHHQDWYH\HDUKLJKV
since March, has curbed
exports.
Prices are not good so
farmers are not interested in picking beans from
the new crop, said Tran
Tuyen Huan, general
director of trader Asia
Commodities Joint-Stock
Co. in Ho Chi Minh City.
Theres also a lot of coffee left from the previous
season.
A worker harvests coffee on a farm in the main coffee-growing area of Dak Lak province in central Vietnam. The harvest in Vietnam almost doubled in the past decade.
million tons in the survey

last month from 1.72
million tons previously.
Lower rainfall this year
means less ground water,
and that will have more
impact on the next growing cycle, Huan said.
Bloomberg
Myanmar Summary
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INTERNATIONAL BIZ
16
mmbiztoday.com
UK Steelmakers Call for Immediate

EU Action on Chinese Imports
Maytaal Angel
widely expected to export

some 100 million tonnes
of steel this year on
shrinking demand as its
economic growth slows.
+LGLQJEHKLQGWKH
EU as an excuse to do
nothing will not wash.
1RWKLQJVKRXOGEHRWKH
table, including a refusal
to grant China market
economy status while it
fails to abide by EU rules
RQIDLUWUDGHVDLG+DULVK3DWHOQDWLRQDORFHU
for UK union Unite.
European steel lobby
Eurofer, alongside
industriAll European
7UDGH8QLRQDQG$(*,6
Europe, which represents some 30 European
manufacturing industry associations, called
on EU ministers not to
FRQVLGHURHULQJ&KLQD
market economy status
(MES).
The EU, along with other World Trade Organization members, needs
to determine whether
to accord China MES
DWWKHHQGRI,I
granted, it would reduce
the EU's ability to impose
DQWLGXPSLQJWDULVRQ
Chinese imports.
Eurofer and industriAll
said 5,000 EU steel jobs
had been lost in the last
month alone, mostly in
the UK, adding that there

is a real threat to the
330,000 workers in the
EU steel sector, a headcount down 85,000 since
2008.
The UK government
promised last week to
start refunding the cost of
green taxes as soon as the
European Union grants
state aid approval.
Reuters
Myanmar Summary
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vGefcJhonfh atmufwdkbmv
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orm; 4000 cefYeD;yg; tvkyf
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tpnf;ta0;jyKvyk &f ef NAw
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Bloomberg
ritish steelmakers urged business

minister Sajid
Javid to insist on immediate action against
what they see as Chinese
steel dumping when he
meets European Union
economy and industry
ministers in Brussels.
Britain requested the
emergency meeting after
nearly 4,000 of its steel
jobs were lost in October - equivalent to about
DIWKRIWKHVHFWRU
V
workforce - as companies
buckled under pressure
from decade low steel
prices.
Steelmakers in Britain
and beyond pin much of
the blame for the price
plunge on record steel exports from China, though
the global steel market is
plagued by over-capacity.
7KH86DQGRWKHU
countries have already
moved to prevent cheap
Chinese imports distorting their markets and
now the EU must do the
same, and do so quickly
... if we're to prevent large
scale problems for steelPDNHUVVSUHDGLQJVDLG
Gareth Stace, director
of UK Steel, an industry
lobby.
3URGXFLQJVWHHOSURWably in Britain is also

GLFXOWGXHWRDVWURQJ
currency, lacklustre demand, plus energy costs
DQGJUHHQWD[HVRQ
heavy industry that are
some of the highest in the
world.
British steel workers
held a demonstration
in Brussels, alongside
Belgian and French steel
workers, calling for Javid
to tackle high energy
costs and take urgent action to stop what they see
as Chinese steel 'dumping' or selling at below
fair value due to state
subsidies.
Last month, Chinese
President Xi Jinping said
his country had reduced
capacity in its steel
industry by 77.8 million
WRQQHVIHQGLQJRFULWLcism that Chinese exports
had brought the British
steel sector to its knees.
Experts estimate that
China's spare steelmaking capacity is still at
around 300 million
tonnes, accounting for
nearly half of the 700
million tonnes of spare
steelmaking capacity
globally.
China produces about
half the world's 1.6 billion
tonnes of steel and is
A crane lifts a roll of coiled steel plate in a steel warehouse in China's Hebei province.
&DUOVEHUJ%RRNVELQ&KDUJHV6ODVKHV6WD
Sabina Zawadzki
arlsberg, the Danish brewer that has

long been struggling in Russia, said it
would book $1.4 billion in
impairment and restructuring costs and slash
ZKLWHFROODUVWDE\
percent in a bid to return
to growth.
Most of the 10 billion
Danish crown ($1.44 billion) worth of the charges
were booked in the third
quarter, the company
said, and as a result it
now expects its operating
SURWWRGHFOLQHE\KLJK
single-digit percentages,
compared to the growth
it expected before.
Carlsberg has long
faced problems in Russia
and Ukraine, from where
it derives over a quarter
RILWVRSHUDWLQJSURW
but the company booked
charges and said it would
restructure its Chinese
and British businesses
also.
,WVDLGFKDUJHVUHODWLQJ
to Russia would amount
to 5 billion Danish
crowns, while those relating to the Chinese business would be 4 billion
crowns and to the UK
business would be 600
million crowns.
,QWKHIRXUWKTXDUWHU
around 1 to 1.5 billion
crowns' worth of charges

will be booked related to
the impairments and restructuring, the company
said.
Reuters
Myanmar Summary
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Carlsberg onf k&Sm;EdkifiHwGif
umv&SnfMumpGm kef;uefae&
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INTERNATIONAL BIZ
17
mmbiztoday.com
US Says to Seek Airport Security

Enhancements Overseas After Egypt Crash
Mark Hosenball
Khaled Desouki/Bloomberg
he United States
will boost security
checks overseas
IRU86ERXQGLJKWVDVD
precaution following the
recent Russian passenger
jet crash in Egypt, including asking foreign airports to tighten screening
of items before they are
brought on board airFUDIW86RFLDOVVDLG
Jeh Johnson, the U.S.
Homeland Security Secretary, said in a statement
that he and the head of
the U.S. Transportation
Security AdministraWLRQ76$RXWRIDQ
abundance of caution,
KDYHLGHQWLHGDVHULHV
of interim, precautionary
enhancements to aviation
security with respect to
FRPPHUFLDOLJKWVERXQG
for the United States
from certain foreign airSRUWVLQWKHUHJLRQ
Johnson's statement
The Metrojet Airbus Group SE A321 plummeted into a remote area of Egypts Sinai peninsula 23 minutes
DIWHUOHDYLQJWKH5HG6HDUHVRUWRI6KDUPHO6KHLNKRQDLJKWWR6W3HWHUVEXUJNLOOLQJDOOSHRSOH
aboard.
said security improvements would include

H[SDQGHGVFUHHQLQJ
for items on aircraft,
additional assessments
of security at foreign
airports in partnership
with foreign authorities,
DQGXQVSHFLFHGRHUV
of other assistance to
FHUWDLQIRUHLJQDLUSRUWV
related to aviation and
airport security.
The statement said that
InBevs Brazil Unit

Buys Canadian Beer,
Cider Brands for $35m
Jeb Blount
mbev SA, the

Brazilian unit of
Belgium's AnheusHU%XVFK,Q%HY6$VDLG
last Tuesday it agreed to
buy the Canadian rights
to beer and cider brands
owned by Canada's Mark
Anthony Group for $350
million.
Among the brands purchased by Ambev from
the Mark Anthony Group
are Palm Bay, Mike's
Hard Lemonade and
Okanagan Cider, Ambev
said in a Brazilian securiWLHVOLQJ7KHGHDODOVR
includes the purchase of
British Colombia's Turning Point Brewery, which
produces the Stanley
Park beer brand.
The acquisitions will be
managed by Labatt Breweries of Canada, an Ambev subsidiary. Ambev's
SDUHQW$%,Q%HYLVWKH
world's largest brewer.
The deal is expected
to close in the coming
months, the statement

said.
Mark Anthony, founded
in 1972, produces and
distributes wine and
VSHFLDOW\EHHUV,WLVDOVR
the world's fourth-largest
PDNHURIQHDUEHHUD
type of low or alcoholfree beer.
Reuters
Myanmar Summary
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the enhancements were

LQWHQGHGRQO\IRUFHUWDLQ
foreign airports in the
UHJLRQ,WGLGQRWVSHFLI\
which airports would be
LQYROYHG$86RFLDO
familiar with the matter
said that all the airports
DHFWHGZHUHLQWKH0LGdle East.
7KHRFLDOVDLGVHFXULW\
enhancements by the US
would be put in place by
local airport authorities
and operators in conjunction with US government

representatives.
7KHRFLDOVDLGWKDW
because the airport at
Sharm El Sheikh, from
which the Russian aircraft that crashed departed, is not served by any
GLUHFWLJKWVWRWKH86
LWZRXOGQRWEHDHFWHG
by the new US security
moves.
While airlines of mul-
tiple European countries

served Sharm el Sheikh
before last weekend's
LJKWV86RFLDOVVDLG
$PHULFDQDJFDUULHUV
KDGQRWRZQGLUHFWO\LQ
or out of that airport for
some time.
$OORIRXUPHPEHUV
ZKRKDGRZQLQRURYHU
that region have stopped
doing so and are reroutLQJLJKWVRXWRIDQ
DEXQGDQFHRIFDXWLRQ
added Melanie Hinton, a
spokesperson for Airlines
for America, a trade association for US airlines.
86RFLDOVZRXOGQRW
say whether the decisions
by US airlines to avoid
Sharm el Sheik were
EDVHGRQRFLDOJXLGDQFH
from any US government
agency.
2QH86RFLDOVDLGWKDW
within the last two years,
TSA had assessed security at foreign airports, and
that Sharm el Sheikh had
a reputation inside the
US government for poor

VHFXULW\$QRWKHURFLDO
noted that TSA has never
made such assessments
public.
Reuters
Myanmar Summary
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INVESTMENT & FINANCE
18
mmbiztoday.com
Sanctions Fears Choke Nascent

US Trade with Myanmar
Joel Schectman,
David Henry &
Timothy Mclaughlin
Zarni Min Naing
estern
banks
are
cutting
WUDGHQDQFHLQ
Myanmar after learning
that part of the country's
main port is controlled
by a man blacklisted by
Washington, threatening
to stop nascent US economic ties with the Southeast Asian nation in their
tracks.
US shipments to Myanmar have slowed to a
crawl in recent months,
after several banks includLQJ&LWLJURXS,QF%DQNRI
America, HSBC and PNC
Financial curtailed their
QDQFLDOEDFNLQJRIWUDGH
with the country, according to sanctions lawyers
and other people familiar
with the matter.
Studying trade documents, Citigroup noticed
in June that the Port of
Yangon's main terminal
is controlled by Steven
Law, who is subject to US
sanctions because of his
alleged ties to Myanmar's
military, they said.
Citi then alerted other
banks, and their compliDQFH RFHUV ZDUQHG WKDW
IXUWKHUQDQFLQJFRXOGYLolate remaining US sanctions, according to several
sources, who asked not to
be named because they
were not authorized to
speak publicly.
At stake are embryonic,
but fast developing economic ties between the
United States and Myanmar, which US diplomats
see as crucial to maintaining Washington's inXHQFH GXULQJ D FULWLFDO
period in the country's
transition to democracy.
Washington and the
European Union started
lifting economic sanctions the following year

to encourage Myanmar
authorities to stay the reform course.
Since then, the total volume of trade between the
United States and Myanmar has risen from less
than $10 million in 2010
to over $185 million last
year, according to the US
Commerce Department.
That is still a tiny fraction of the Southeast
Asian country's over $27
billion trade dominated
by its Asian partners Thailand, China, SingaSRUH +RQJ .RQJ ,QGLD
and South Korea.
But the political importance of trade with the
United States goes far
beyond what the modest
amounts would suggest,
said Jose W. Fernandez, a
former assistant secretary
of state who was an architect of sanctions policy in
Myanmar.
,WLVDZD\IRUWKHOHDGers to prove to the world
that they are no longer
JOREDO SDULDKV )HUQDQdez told Reuters.
Developing economic
ties with Washington also
helps Myanmar counterEDODQFH WKH LQXHQFH RI
Beijing, said Peter Harrell, a former deputy assistant secretary of state

who played a key role
in easing the sanctions.
0\DQPDU GRHVQ
W ZDQW
to be overly dependent on
WKH&KLQHVH
From that perspective,
the slump in US exports
to Myanmar to $5.5 million in September from
over $50 million in June,
is a source of concern.
0LQHHOG
Fernandez said MyanPDU RHUV D SUHYLHZ RI
challenges Washington
will face in implementing
an international deal that
removes some sanctions
RQ,UDQLQUHWXUQIRUFXUEV
on its nuclear program,
and in its re-engagement
with Cuba.
, WKLQN VRPH RI WKHVH
sanctions programs were
created at a time when
we didn't think about the
QHHG WR UHPRYH WKHP
Fernandez said.
0\DQPDU
V WUDGH nance snag highlights
how unwinding sanctions
while some key economic
players remain blackOLVWHG FUHDWHV D PLQHHOG
for companies that could
undermine Washington's
broader political objectives.

Law's business conglomerate Asia World is a
case in point.
&XWWLQJ R QDQFLQJ
of shipments handled by
/DZ
VUPFRXOGDPRXQW
to a de facto trade emEDUJREHFDXVHKDOIRIDOO
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V WUDGH RZV
through the Asia World
terminal, two banking associations said in a letter
to the US Treasury Department in July.
Foreign
institutions
FRXOG DOVR EH DHFWHG
About a dozen international banks that have US
presence, mostly European, have been stung by
more than $14 billion in
US penalties since 2009
for various sanctions violations.
,Q WKH OHWWHU WKH &OHDUing House Association
and the Bankers Association of Finance and Trade
asked the Treasury's OfFH RI )RUHLJQ $VVHWV
Control, which enforces
US sanctions, for a legal
workaround that would
allow shipments to pass
through Asia World.
The US State Department and OFAC is considering possible solutions,
according to sources familiar with their deliberations. But in the meantime, OFAC warned banks
WR UHIUDLQ IURP QDQFLQJ
any shipments that Asia
World might handle, according to the letter.
Asked about a possible solution, a Treasury
spokeswoman said in an
emailed statement that
the agency was working
with the US State Department to support Myanmar's democratic transiWLRQZKLOHDOVRHQVXULQJ
that illicit actors do not
EHQHW
More than a hundred
individuals and businesses - many, like Law, key
players in Myanmar - are
still subject to US sanctions.
US diplomats have encouraged them to apply
for the sanctions to be
removed, but the process
can take years. So far only
nine
Myanmar-related
entities have been taken
R WKH OLVW WZR RI WKRVH
were people who had already died.
While they wait for a
OHJDO [ 86 EDQNV DUH
also freezing or delaying
payments for shipments
that have already arrived
in Yangon, according to
those familiar with the
matter.
Even when the goods
get shipped, exporters
faced long delays in payments from the banks,
Moe Myint Kyaw, secretary general of Union of
Myanmar Federation of
Chambers of Commerce
DQG ,QGXVWU\ WROG 5HXters in an interview.
Peter Kucik, a former
senior sanctions adviser
at the US Treasury said
DOORZLQJ WUDGH QDQFH WR
JHWVTXHOFKHGZDVWRWDOO\
inconsistent with US pol-
LF\ RI EULQJLQJ ZHVWHUQ

QDQFLDO LQVWLWXWLRQV LQWR
Myanmar.
Banks, mindful of reFRUG QHV IRU VDQFWLRQV
violations, will play it safe
given the relatively little
money they make in Myanmar, said Kucik, who
LV QRZ D SULQFLSDO RI ,QOH
Advisory Group that advises U.S. businesses on
investments in Myanmar.
,I\RXLQFUHDVHFRPSOLance costs it's going to be
easier for them to just say
VFUHZLW
Reuters
Myanmar Summary
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auG;vmcJhNyD; Citigroup Inc,
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19
mmbiztoday.com
How Open Data Helped Uncover Rampant Corruption

in Myanmars Multi-Billion Dollar Jade Industry
Hera Hussain
Myanmar Summary
Guilln Prez/Flickr
here is a growing
consensus amongst
politicians
and
transparency enthusiasts
that open data is essenWLDOLQJKWLQJFRUUXSWLRQ
While requiring government to openly publish
budgets and MPs salaries has been considered
essential,
governments
are still lagging behind in
implementing open company data. What companies are operating in
a country? Who are the
directors? Who are the
shareholders? Does the
company have subsidiaries? How are they controlled? These are some of
the key datasets that must
be publicly available, for
free and searchable for
markets to operate in optimal conditions and to
establish an audit trail.
Global Witness, one of
the worlds leading anticorruption NGOs, released a startling report
shedding light on how a
SRZHUIXO HOLWH LV EHQHWing from Myanmars $31
billion dollar jade industry. This eye-opening investigation is an important case study on how
open company data and
LGHQWLHUV DUH FULWLFDO
tools to uncover corruption and the links between
companies and the real
SHRSOHEHQHWWLQJIURPLW
Global Witness estimates
that Myanmars jade industry is worth as much
as $31 billion thats
nearly 50 percent of Myanmars GDP and up to 46
times the governments
expenditure on health.
Kachin State, the region
where jade is mined, has
VXHUHG HQYLURQPHQWDO
and economic destruction
as well as displacement of
A worker polishes jade in his workshop.
indigenous people. Global

Witness used the information OpenCorporates
had scraped and turned
into open data from MyDQPDUV RFLDO FRPSDQ\
register to connect powerful elite to the jade trade.
According to The World
Bank, 70 percent of grand
corruption cases used corporate structures to launder money. According to
World Economic Forum,
corruption adds up to 10
percent to the total cost of
doing business globally,
and up to 25 percent to
the cost of procurement
contracts in developing
countries. So, having access to open company
data is essential to enable
armchair auditors, businesses and NGOs investigating corruption.
Myanmar had been publishing online accessible
company register which
includes
incorporation
data, addresses, types of
business and information

on company directors
and shareholders since
the end of 2014. While it
was not available as open
data this already puts it
leagues ahead of other jurisdictions such as Spain,
Brazil, and most states in
86 VXFK DV 'HODZDUH ,Q
fact Myanmar scores a 30
out of a 100 in the Open
&RPSDQ\'DWD,QGH[
During the investigation, key information
on directors and shareholders, especially direcWRU LGHQWLHUV ZDV WDNHQ
down by Myanmar without any visible explanation. After this was raised
as an issue, the information on directors has
resurfaced in 2015, but
shareholder details remain absent.
The data was checked
against the information
provided by interviewHHV WR QG OLQNV EHWZHHQ
particular jade companies
and powerful individuals against director and

shareholder data for the
companies
concerned.
Having this information
as open data through
OpenCorporates as opposed to a web page or
PDF meant Global Witness could run an algorithm to search, mine and
match the data.
Accessing and validatLQJRFLDOUHFRUGWKURXJK
open company data enabled Global Witness to
provide the audit trail to
make those connections.
Though just one part of
Global Witnesss extensive and long-running
investigation, it was clear
that open company data
was critically important.
Despite the value of
open data for investigations, open company data
for crucial jurisdictions
remains closed. Running
the names of countries on
their second Open Gov-
ernment Partnership action plan stage through

the Open Company Data
,QGH[ VKRZV WKDW FRXQtries that collect rich data
from companies such as
,WDO\ DQG 3DQDPD DUH
still not making the information freely available as
open data.
,WV LPSRUWDQW WKDW IRU
these countries who can
easily make their closed
datasets open to do so as
it involves little to no cost
DQGRHUVDWUHDVXUHWURYH
RIEHQHWVWRWKHORFDODQG
international communities, especially to tackle
corruption.
Open data may not demolish the incentive of
corruption but it can go
a long way in raising the
cost of doing so.
Hera is the Community
& Partnerships Manager
at OpenCorporates - the
worlds largest open database of company inforPDWLRQ
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20
mmbiztoday.com
Jorge Silva/Reuters
Investors Line Up
After Myanmars Landmark Moment
Myanmars National League for Democracy party leader Aung San Suu Kyi addresses supporters about
the general election results in Yangon.
Chris Wright
t took two days to be

sure of the outcome,
but Myanmars National League for Democracy (NLD) party
DQQRXQFHG DQ XQRFLDO
victory in the countrys
election, claiming 82 percent of the seats in the
lower and upper houses of
parliament on November
10. For Aung San Suu Kyi,
an extraordinary, mesPHULVLQJMRXUQH\LVQDOO\
complete.
Arguments will rumble around for some time
to come about how truly
open and transparent this
election was, but with a
result like that, it hardly
PDWWHUV LQ WKH HQG ,W LV
fair enough to say that
0\DQPDUKDVKHOGLWVUVW
free elections for 25 years.
More than that, it appears to be the end of
50 years of military rule.
(Strictly speaking that
ended in 2011, but since
the supposedly civilian
government that arrived
then was largely full of
PLOLWDU\ JXUHV LW GLGQW
feel like all that much had
changed until now.) A
quarter of all parliamentary seats in Myanmar are
reserved for the military,
so the NLD really needed
a landslide to gain power,
and it appears to have got
one. Very big militarybacked names, notably
Shwe Mann, who was
among the most senior
members of the military

junta as well as being the
lower house parliament
speaker, have gone. He
even congratulated his
opponent.
For anyone who has
covered Myanmar over
any stretch of the last half
century, it is a little hard
to believe what we are
seeing. And we should
perhaps allow ourselves
a slight reality check for
there are many obstacles
ahead. Suu Kyi wont be
the president, based on
a technicality invented
by the generals (her sons
have foreign passports).
As FT correspondent Michael Peel puts it: Bluntly, if the NLD does win a
majority, it will be because
the generals have allowed
it to happen and decided
they can live with it.
Major
constitutional
FKDQJH ZLOO EH GLFXOW
because of that military
chunk of the parliament.
So progress might still
be slow. But it is worth
remembering that the
generals, for all their considerable sins over the
last half century, must
have allowed democracy
to come back for a reason, and a large part is the
GHPRQVWUDWLRQ HHFW RI
its southeast Asian neighbours, who by and large
KDYH EHQHWHG HFRQRPLcally from greater openness. Vietnam is probably
the clearest example.
Well before this elec-
tion, there had already

been encouraging steps
for the business climate.
Great strides have been
made on the economic
front, said PwC in a guide
to Myanmar business it
published in July. Key
initiatives include banking reforms which allow
foreign banks to enter the
market (albeit within a restricted capacity); drafting the new Myanmar
Companies Act, which
will modernise company
structures (in particular
foreign shareholdings in
Myanmar
companies);
WKH QHZ 0\DQPDU ,Qvestment Law and the
planned opening of a national stock exchange in
November 2015, with the
H[SHFWDWLRQ RI OLVWLQJ YH
to 10 qualifying companies.
For this reason, investors will be looking closely at the election in fact,
many have been doing so
since 2011.
Although it is early
days, and it will take some
months for the new president and government to
take power, the election
bodes very well for the
transformational policies
that will enable this country of 50 million people
that has stagnated since
independence to catch
up with neighbours such
as Thailand, says Mike
Sell, head of Asian investments at Alquity, a London-based fund manager.
Alquity is already invested in Myanmar: in

fact it makes up 4 percent of the managers Asia
fund. Sell says the fund
holds a well-run consumer focused company,
ZKLFK ZLOO EHQHW IURQW
the huge untapped potential of the market.
Others have played Myanmar for a while, typically through Thai companies with an obvious
exposure to the country,
but increasingly through
direct investment with the
classic emerging frontier
plays such as consumer
and tourism businesses.
Clearly investing in
markets such as this is not
without risk, but this is
mitigated by our detailed
forward-looking analysis
of the macro-eocnomic
environment, company
earnings and ESG factor, says Sell. We expect
to be adding to Myanmar
further in the future as
this is one of the last undiscovered
investment
frontiers.
Anywhere new can be
FRQIXVLQJ DQG , DP UHPLQGHG RI DQ LQWHUYLHZ ,
did with Luc de Weagh,
ZKR UXQV :HVW ,QGRFKLna, a Myanmar business
DGYLVRU\ UP EHIRUH WKH
previous election in 2010.
:KHQ \RX UVW JR WKHUH
you think you have an understanding of the place,
he said then. Those who
have been there four or
YH WLPHV JHW FRQIXVHG
Those who live there are
very confused.
,Q IDFW WKH RQO\ SHRple who think they have a
very clear understanding
of the place have never
been there.
Forbes
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Myanmar Summary
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21
mmbiztoday.com
Taming Thailands Wild Frontier
Giulio Di Sturco/Bloomberg Markets
Prayuth Chanocha wants to turn once unruly border regions into zones of economic prosperity
William Mellor
partly replicate the route

RIWKH:RUOG:DU,,7KDLland-Burma Death RailZD\LPPRUWDOL]HGRQOP
in The Bridge on the River
Kwai.
Thailand,
Southeast
Asias
second-biggest
economy, is highly deSHQGHQW RQ H[SRUWV ,WV
one of the worlds major suppliers of products as diverse as hard
disk drives, automobiles,
rice, and canned tuna.
But since Prayuth seized
power in May 2014, total exports have declined
as global growth slowed
and commodities prices
plunged. According to
government projections,
shipments this year will
slide 5 percent, while
gross domestic product
growth will be 2.8 percent, one of the slowest
rates in Southeast Asia.
&RQVXPHU FRQGHQFH
IHOO IRU WKH UVW QLQH
months of this year before edging up in October,
household debt is rising,
the workforce is aging,
and an El Niotriggered
drought has hit one-third
of Thailands 76 provinces, potentially damaging
as much as 30 percent
of the rice crop. A bomb
that exploded in central
Bangkok in August, killing 20 people, cast a pall
over Thailands booming
tourism industry, which
accounts for 10 percent of
GDP.
Then theres political
gridlock. When Prayuth
overthrew the elected
government
following
months of turmoil, he
promised a swift return to
civilian rule. More than 18

months later, no election
GDWHKDVEHHQ[HG
Against this backdrop,
Thai border trade looks
SURPLVLQJ ,WV VXUJLQJ
as less developed neighboring countries economies expand at more than
double, even triple, ThaiODQGV SDFH ,Q WKH UVW
eight months of 2015,
Thai sales to Myanmar,
Vietnam, Cambodia, and
Laos jumped 8.1 percent
to $14.5 billion. That accounted for 10 percent of
Thailands total exports.
Mae Sot is setting the
pace, with cross-border
trade in 2014 close to $2
billion, a 250 percent increase over three years
earlier.
Special economic zones
in Asia are nothing new.
,Q WKH V &KLQDV
reformist leader Deng
;LDRSLQJ VHW XS YH RI
themincluding the bor-
the local chamber of commerce. Recent developments include upmarket

apartments such as the
unsubtly named Rich
Condo.
Contd. P 22...
Myanmar Summary
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Contd. P 22...
Guilio Di Sturco/Bloomberg Markets
or much of the past

century, the Thai
border town of Mae
Sot stood on one of Asias
wilder frontiers.
On the opposite bank
of the swirling, mudbrown Moei River in
neighboring
Myanmar,
Karen insurgents waged
a seemingly endless independence war. Smugglers
WUDFNHG JXQV RSLXP
timber, and gemstones.
Then there was the twoway human cargo during
the past three decades:
120,000
battle-scarred
refugees seeking sanctuary in Thailand, battlehardened
mercenaries
heading in the opposite
direction.
,Q WKLV XQOLNHO\ RXWpostand others like it
along Thailands 5,673
kilometers (3,523 miles)
of
bordersPrayuth
Chan-Ocha, the general
who runs Bangkoks ruling military junta, is making a big bet: that he can
turn former war zones
into some of Southeast
Asias most prosperous
marketplaces. Hes doing
it by creating 10 special
HFRQRPLF]RQHVWKDWRHU
tax breaks and other incentives to investors venturing into now-peaceful
border areas close to
fast-growing Myanmar,
Vietnam, Cambodia, and
Laos.
Low taxes are only part
of the allure. Relying on
a mix of government revenue, bond sales, and other funding, Prayuth plans
to spend $83 billion over
seven years on new railways, roads, and customs

posts to establish crossborder trade routes. The
idea is to link some 2.4
billion consumers in ChiQD DQG ,QGLD ZLWK $VLDV
newest economic grouping, the ASEAN Economic Community, of which
Thailand is a member.
The 10-nation Southeast
Asian common market,
which opens for business
next year, boasts a combined economy of $2.3
trillion and a population
of 625 million.
As well as sitting at the
heart of the AEC, Thailand is less than 200
kilometers from China at
its closest point. Across
the river from Mae Sot,
a city of 100,000, Myanmar provides a potential
ODQG EULGJH WR ,QGLD 3Uayuth is determined that
his country of 68 million
peopledespite a torrid
recent political history
of coups and chaoswill
become
the
regions
investor-friendly
communications, trade, and
logistics hub. We have
cleaned up our home to
accommodate investors,
says Atchaka Sibunruang,
a longtime civil servant
whom Prayuth appointed
industry minister in August in a major governPHQW UHVKXH DLPHG DW
reinvigorating growth.
,QYHVWRUV DUH WDNLQJ
note. Japanese and Chinese companies are competing to bid for some of
the most strategic rail
SURMHFWV -DSDQHVH UPV
are even eager to construct a line that would
der boomtown of Shenzhen, adjacent to Hong

Kongto help kick-start
what is now the worlds
second-largest economy.
While Mae Sot is no Shenzhen, it stands just 100
meters (330 feet) across
the Moei from Myanmar,
a once-isolated country of
54 million thats undergoing a helter-skelter political and economic transformation.
Once one of the worlds
poorest countries, Myanmar will grow at 8.5 percent this year, according
to the World Bank. Thats
faster than even China
RU ,QGLD (TXDOO\ VLJQLcant, Mae Sot is located
almost precisely midway
between Bangkok and
<DQJRQ ,W DOVR VWUDGGOHV
a planned east-west rail
and road corridor linking
the Vietnamese port of
'DQDQJ ZLWK WKH ,QGLDQ
subcontinent via Laos,
Thailand, and Myanmar.
Today, Mae Sot is just a
district, but it will become
a great city, says Chaiya
Yimwilai, a U.S.-educated
vice minister in Prayuths
RFH
Nascent signs of that
are already apparent in
Mae Sot. On the outskirts,
a four-lane bridge to Myanmar is under construction to complement the
two-lane structure that
can handle only a fraction
of the present trade. On a
street once lined by simple so-called shop houses,
a supermarket owned
by the Thai unit of the
British retail giant Tesco
sprawls over a downtown
block. Property prices
have soared 500 percent
in 10 years, according to
7RKDQGOHLQFUHDVHGWUDIFWKH7KDLJRYHUQPHQWLVEXLOGLQJDIRXUODQHEULGJHWR0\DQPDU
22
mmbiztoday.com
From page 21...
The seriously rich Dhanin Chearavanont, billionaire chairman of

Bangkok-based
Charoen Pokphand Group,
is building an industrial
estate down the road.
Another publicly listed
company, Bangkok-based
6DKD3DWKDQD,QWHU+ROGing, has already opened
RQH ,WV PRGHUQ DLU
conditioned factories are
a far cry from the Asian
sweatshops of yesteryear.
Young immigrant women
from Myanmar, immaculately dressed in traditional saronglike longyis,
turn out Guy Laroche
handbags, Arrow shirts,
Polo socks, and the like.
Down on the Moei
riverbank, the Veerasomkiat
familywhich
10 years ago struggled
to earn a living trading
chilies, shallots, and the
headache-inducing food
additive
monosodium
glutamateloads
river
barges with cars destined
for the Myanmar market.
The number of vehicles
shipped by its company,
Klang 9 Logistics, has risen from 1,000 a month in
2009 to 3,000 per month
now. Admittedly, many
of them are refurbished
secondhand
Japanese
family sedans. But these
days we are also shipping
some brand-new Ferraris,
Rolls-Royces, and Bentleys, says Papawadee
Teamjaijarean, 37, who
helps her father, Surachai
Veerasomkiat, run the
business.
Barges used today may
be replaced by land transport tomorrow as Presidents Xi Jinping of China
and Narendra Modi of
,QGLDSODQQHZURDGVDQG
railways that will meet up
with the networks Thailand is building. Being at
the center of the region,
Thailand has advantages other countries dont
have, says Chompoopen Sirithorn, who helps
manage $36 billion for
WKH6RFLDO6HFXULW\2FH
Thailands biggest pension fund. The border
trade is its one bright spot
and will attract overseas
investors.
)RUPHU *OHQFRUH ,QWHUnational Chairman Simon
Murray says he will be
watching Thailands new
border economic zones
closely but cautiously.
Hong Kongbased Murray has investments in
Myanmar ranging from
an oil services company to
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Dario Pignatelli/Bloomberg
From page 21...
3ULPH0LQLVWHU3UD\XWKZDQWVWRWXUQQRZSHDFHIXOEDWWOHHOGVLQWRSURVSHURXVPDUNHWSODFHV
percenta chronic labor shortage means few

Thais are interested in
such jobs. But the pay is
enough to lure the likes of
Ma Cherrg, 24, a university graduate from Myanmar, to swap her law
books for a slot on a Mae
Sot production line. This
place is good to work, and
it is also safe, she says,
referring to the fear of huPDQ WUDFNLQJ WKDW VWLOO
pervades wilder border
areas.
Life on the Thai-Myanmar border is still grim
for many, as a visit to physician Cynthia Maungs
Mae Tao Clinic in Mae Sot
WHVWLHV 0DXQJ HG
Myanmar in 1988 after
the thenruling generals
brutally put down Aung
San Suu Kyis democracy movement. Today,
backed by donors such
as investor George Soros,
she treats for free many of
the 120,000 refugees still
fearful of returning home
and, increasingly, immigrant workers who have
missed out on Mae Sots

boom. The peace process
in Myanmar is still very
fragile, she says. And
with land becoming so
expensive in Mae Sot, the
poor get poorer.
Despite the citys success so far, even the generals who seized power in
the 2014 coup are hedgLQJ WKHLU EHWV ,Q 6HStember, the government
announced tax breaks to
attract investors to moredeveloped parts of the
country. They also earmarked two popular tourist destinations, the resort
island of Phuket and the
historic walled northern
city of Chiang Mai, as potential technology hubs.
Talented people in the
software industry would
like to live in a beautiful
environment so they can
WKLQNEHWWHUVD\V,QGXVtry Minister Atchaka. Until that happens, though,
adventurous
investors
PD\QGPRUHRSSRUWXQLties on Thailands oncewild frontiers. Bloomberg
Guilio Di Sturco/Bloomberg Markets
a distillery that produces

a 43-percent-proof local whiskey named High
Class. He hopes to export
spirits overland through
Thailand but notes that
the border trade depends
on continuing warming
political relations between former enemies.
Thais have never forgotten that invaders from
Myanmar sacked the
thenThai capital, Ayutthaya, in 1767.
And more-recent conLFWV EHWZHHQ WKH 0\DQmar central government
and a dozen ethnic rebel
groups, including the
Karen across the border
from Mae Sot, have been
papered over by tenuous
peace treaties. During
the Vietnam War, which
ended in 1975, Thailand
sided with the U.S., letting it bomb Vietnam,
Cambodia, and Laos from
Thai bases. Theres a lot
of potential but also a lot
of history, says Murray,
ZKRVH UP 6LPRQ 0XUray & Co., is backed by
Asias richest man, Li Kashing.
That said, the lure of
Mae Sot seems likely to
win over Taiwanese businessman Chia-tse Lee,
60, president of TaipeiEDVHG'DQHH6LON,QWHUQDtional. Lee owns one silk
factory in Chinas Zhejiang province. Now, he
says, Mae Sot could be the
site of his next expansion.
There is more energy
here, he says during an
interview in Mae Sot. Although much of Mae Sots
labor comes from across
the border in poorer Myanmar, local businesses
still pay the minimum
daily rate of 300 Thai
baht ($8.50).
,Q D FRXQWU\ ZLWK RQH
of the worlds lowest unemployment rates0.78
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6
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(*sD'DyD) onfvnf; ta&SUawmif
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onf tusyt
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a&;csJUxGifrIonf ESpfq? oHk;q
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&duef a':vm 14.5 bDvD,H
&So
d nf[kod&onf/
Workers toil over sewing machines at a Saha Pathana factory in Mae Sot.
23
PROPERTY & REAL ESTATE
mmbiztoday.com
Myint & Associates Snaps Aussie Embassy

as Tenant at Vantage Tower
Ei Thandar Tun
ocal conglomerate
Myint & Associates
said it has signed a
deal with the Australian
Embassy in Myanmar to
have the latter as a major
WHQDQW LQ WKH UPV DJship development, Vantage Tower.
The deal was negotiated
with the Department of
)RUHLJQ$DLUVDQG7UDGH
(DFAT) of Australia in
Canberra and will result
in the relocation of the
Australian Embassy from
WKHLU FXUUHQW RFH RQ
the Strand road to Levels 11,12,13 and 14 of the
building, Myint & Associates said.
The Embassy will house

its consular services, ofFHV GLSORPDWLF VHUYLFHV
and a medical centre
within the 33,361 square
feet (sqft) of occupied
area.
The reasons for the Embassy choosing Vantage
Tower are the strategic
location, the high quality
EXLOGLQJVSHFLFDWLRQWKH
world-class
supporting
infrastructure such as
100 percent redundancy
back-up power and high
VSHHG EUHRSWLF LQWHUQHW
connection provided by
WKH 7LHU ,,, 'DWH &HQWUH
FHUWLHG E\ WKH 8SWLPH
,QVWLWXWH RI WKH 86$ DQG
the high-tech building
management and security
systems that are being

implemented that make
this building one of the
safest in Myanmar, Hugo
Slade, managing director
of Slade Property Services, claimed.
Vantage
Tower,
a
236,144 sq-ft (21,938
square metre) mixed-use
building, is located on
Pyay road.
The signing of the
lease with the AustralLDQ (PEDVV\ LV D VLJQLcant achievement for us.
The due diligence process undertaken by the
Australian Embassy was
very comprehensive and
GHWDLOHG DQG , DP SURXG
of the fact that Vantage
Tower both met and sur-
passed all expectations,

said U Soe Khine, general
manager of Myint & Associates.
Slade
said
Vantage
Tower has approximately
VTIW RI RFH VSDFH
remaining available for
lease, with demand coming
from international tenants
and other Embassies.
7KH SURSHUW\ RHUV
good value for money.
Our rental rates are not
opportunistic, but rather
UHHFWWKHKLJKTXDOLW\RI
the building and the supporting facilities that no
RWKHUSURSHUW\FDQRHULQ
this market, he claimed.
The developer has
LQYHVWHG D VLJQLFDQW
amount of time and re-
sources into making sure

that this property has all
of the necessary car parking, technology and facilities to ensure that all
tenants enjoy consistent
business operation and
minimum
disruption,
Slade added.
"eo[m,EdkifiHtpdk;&ukefoG,f
a&;XmewdkYESifh ndEIdif;aqG;aEG;NyD;
aemuf Hk;cef;iSm;&rf;a&;pmcsKyf
csKyfqdkEkdifcJhjcif;jzpfonf/ Mop
aMw;vsoHHk;onf vuf&Sdwnf&Sd
&m urf;em;vrf;rS jynfvrf;&Sd
Vantage Tower
\ txyf
11 xyfrS 14 txd wnf&Sdonfh
Myanmar Summary
Hk;cef;topfoYkd ajymif;a&TUzGiv
hf pS f
Myint & Associates Con- awmh r nf j zpf o nf / pwk & ef ; ay
struction Company vDrdwuf tus,ft0ef; 33361 &Sd xdk
RQI}LI?WGUI1F+DMUTGNLI P S'U+ DH PRSIZL* I }LI?DXPLISSIHI
udef;wpfckjzpfonfh Vantage vkyfief;rsm;? Hk;cef;rsm;? oHwref
Tower wGif t"duiSm;&rf;olt a&;&mvkyi
f ef;rsm;ESiahf q;0g;uko
jzpfjrefrmEdkifiHqdkif&m MopaMw; aqmifwpfckwdkYudk zGifhvSpfomG ;&ef
vsoH ;kH ESihf ;kH cef;iSm;&rf;a&;pmcsKyf &nf&,
G x
f m;onf[ko&d NyD; pwk&ef;
csKyfqdkEkdifcJhaMumif; od&onf/
ay 236144 us,0f ef; Hk;cef;
uifbm&mwGif wnf&Sdaom iSm;&rf;zGifhvSpfvdkolr sm;twG u f
Edik if jH cm;a&;&mXmeESifhMopaMw;vs tqifoifjh zpfaeNy[
D k od&onf/
Property Market Stumbles

Moh Moh Kyi
he property market
is currently cool
and the deals are
hard to seal, even with decreased prices, real estate
agents say.
The market is currently
stagnant.
Construction
has decreased and apartments have gotten cheaper, but the sales are not
going up, said U Nay Min
Thu, managing director
of iMyanmar Co, which
deals with real estate in
Yangon.
However, the prices of
houses has remained stable, even with fewer sales.
Apartment prices are

falling but the prices of
houses arent. Those looking to sell houses are holding the house and waiting
to see what happens in the
post-election period, said
U Nay Min Thu.
Also the construction
businesses are not as
SURWDEOH DV EHIRUH FRQVWUXFWLRQUPVVDLG
Customers are lookLQJ IRU QLVKHG DSDUWments and not interested
in pre-paid apartments
anymore, so the construction business is getting
worse, said U Thaung
Htike Min, managing director of Thukha Yadana
Construction Company.
Some construction businesses have stopped due
WR QDQFLDO SUREOHPV
while even big construction companies are billions of kyat in debt, said
U Ko Ko Htwe, chairman
of Taw Win Construction
company.
,QGXVWU\ LQVLGHUV VD\
the property market is
cool due to the political
changes in Myanmar and
buyers are taking a cautious approach. However,
the market is expected to
fair better and get more
foreign investments after
the dust settles on Myanmars political arena.
Myanmar Summary
vwfwavmwGif tdrfNcHajr
aps;uGufrsm; ta&mif;t0,f
at;vsuf&SdaeNyD; aps;EIef;avQmh
a&mif ; csrI r sm ;&S d v maomf v nf ;
arQmfvifx
h m;onft
h wdik ;f ta&mif;
t0,frsm; rjzpfawmhaMumif;
tdrfNcHajrtusKd;aqmifrsm;xHrS
od&onf/
]]vuf&Sdawmh aps;uGufNidrfae
w,f/ wcsKdUaqmufvkyfa&;vkyf
ief;awGuawmh wdkucf ef;wpfcef;
udk 1500 avmufuae 1300
avmuftxd aps;avQmhNyD;a&mif;cs
vmwm awGU&ygw,f/ 'gayrJh
ta&mif;t0,foyd rf oGuyf gbl;}}
[k iMyanmar Online Media
and Advertising rS refae*sif;
'gkdufwm OD;aerif;olu ajym

onf/
tqdkyg wdkufcef;aps;uGufrsm;
rSm aps;EIef;avQmhcsNyD; a&mif;csrI
rsm;aMumifh tenf;i,f ta&mif;
t0,fjzpfvmaomfvnf; vHk;csi;f
aps;uGufrsm;rSm
aps;EIef;rsm;
usqif;rIr&SdbJ ta&mif;t0,f
r&Sdoavmuf enf;yg;aeaMumif;
od&onf/
]]wdkufcef;awG aps;usayr,fh
vHk;csif;awGuawmh rusygbl;/
a&mif;r,fholawGu aps;EIef;udk
vHk;0avQmhra&mif;Mubl;/ vuf
xJ rSm ud k i fx m;Muw,f / a&G ;
aumufyGJumvudk apmifhMunfh
aeMuw,f}}[k OD;aerif;olu
qufvufajymMum;onf/
xdkYuJhodkY tdrfNcHajraps;uGufrsm;
at;aeonfhtjyif aqmufvkyf
a&;vkyfief;ydkif;aqmif&Gufonfh
vkyfief;rsm;wGifvnf; ,cifuJh
okdY vk y f i ef ; aqmif & G u f r I r sm;
raumif;awmhaMumif; aqmufvyk f
a&;vkyfief;&Sifrsm;u ajymonf/
]]vkyfvufpvkyfief;awG quf
vkyaf eygw,f/uefxdkufvyk if ef;
awGuawmh at;ae w,f/
Customer awGuvJ aqmuf
vkyfNyD;om;awGyJ 0,f,lwmrsm;
NyD; BudKyGdKifhawGudk r0,fMuawmh
vkyfief;awGu ydkqdk;oGm;w,f}}
[k okc&wemaqmufvkyfa&;
ukrPDrS refae*sif;'g&dkufwm
OD;aomif;xdkufrif;u ajymonf/
PROPERTY & REAL ESTATE
24
mmbiztoday.com
Singapore Developer Calls

for Review of Curbs as Earnings Drop
Nicky Loh/Bloomberg
statement accompanying
the earnings. Markets remain highly sensitive, unpredictable and challenging. The Group continues
to hold the view that the
property cooling measures need to be reviewed
as soon as possible, given
that the home-ownership
rate in Singapore is over
90 percent.
Pooja Thakur
Mahrotri
ity Developments
Ltd.,
Singapores
second-largest developer, called on the
government to review
property curbs as soon
as possible after home
prices dropped for an
eighth consecutive quarter, matching the longest
losing streak in 13 years.
Home prices continue to
decline across all market
segments, City Developments said in its earnings
statement late last Thursday. Demand for residential units, especially at the
high end, remains tepid,
while sales continue to be
adversely impacted by the
various government cooling measures, rising interest rates and concerns over
the local and global economies, the developer said.
City
Developments
JURXSDWWULEXWDEOHSURWDIter tax and non-controlling
interests slid 16 percent to
S$106.4 million ($75 million) in the quarter ended
Sept. 30. The group will
continue to monitor market conditions carefully before it starts marketing its

new condominium project
Gramercy Park near the
citys shopping belt of Orchard Road.
Headwinds continue to
dominate both domestically and globally, City
Developments said in the
Demand dented
The government began
introducing
residential
property curbs in 2009 as
low interest rates and demand from foreign buyers
raised concerns that the
market was overheating.
They have included a cap
on debt repayment costs
at 60 percent of a borrowers monthly income,
higher stamp duties on
home purchases and an
increase in real estate taxes. Prices fell about 4 perFHQWODVW\HDUWKHUVWDQnual decline since 2008.
The deterioration in
economic sentiment, a
worsening
supply-demand imbalance and
rising vacancy rates risk
precipitating a downward
spiral in property prices,
Augustine Tan, the president of the Real Estate
Developers Association
of Singapore, said in September. The property
cooling measures, in the
current tone and intensity, could increase the risk
to the real estate market
and the economy, he said.
Singapore home sales
dropped to their lowest
this year in September as
developers marketed fewer projects. Developers
sold 341 units compared
with a revised 513 units in
August, according to data
from the Urban Redevelopment Authority.
Bloomberg
Myanmar Summary
tdrfNcHajraps;EIef;rsm; &Spfv
quf wdkufusqif;aeNyD; 13 ESpf
twGif; tqdk;&Gm;qHk;jzpfaeonfh
twGuf pifumylEdkifiH\ 'kwd,
tBuD ; qH k ; td r f N cH a jrvk y f i ef ;
City Development vDrdwuf
onf EdkifiH\tdrfNcHajru@tm;
xde;f csKyx
f m;rIukd jyefvnfo;kH oyf
&ef awmif;qdck ahJ Mumif; od&onf/
pifumylEikd if \
H tdrNf cHajraps;EIef;
rsm;onf e,fy,fwikd ;f usqif;
vsu&f aSd Mumif; City Development
ukrP
Du ajymMum;cJhonf/
vl a ewd k u f c ef ; ,l e pf r sm;\
0,fvdktm;? txl;ojzifh tqifh
jrifhwdkufcef;rsm;\ 0,fvdktm;
onf aES;auG;vsuf&SdNyD; twdk;
EIef;ESifh jynfwGif;? jynfypD;yGm;
a&;aES;auG;rIjyemrsm;aMumifh
a&mif ; tm;usqif ; cJ h & jcif ; jzpf
onf[k od&onf/
AUTOMOBILE
25
mmbiztoday.com
Chevy to Open Mandalay Showroom Next Year

Ei Thandar Tun
Sherpa Hossainy
new
Chevrolet
showroom will be
opened in Mandalay in 2016 for car shoppers in upper Myanmar,
VDLG 3DFLF$$ 0RWRU
Ltd, the exclusive distributor of the American auto
manufacturer.
Currently, Myanmar has
only one Chevrolet showroom, which is in Yangon,
and buyers from all regions and states have to
come to Yangon in order
to buy Chevrolet cars.
The Mandalay showroom is currently under
FRQVWUXFWLRQ ,W ZLOO EH
opened next year. This
showroom is mainly for
customers from distant
regions, said Dr Saw Nay
Nwe, executive director of
3DFLF$$0RWRU/WG
She claimed that Chevrolet cars are stronger
than Japanese cars,
which rule the roads of
the country with over 80
percent market share.
Chevrolet is giving a
YH\HDURUNLORmetre guarantee for its
cars in Myanmar. Repair

services are given by technicians who are trained in
Singapore.
Chevrolet is also trying
to introduce new models
to Myanmar. Currently, seven models can be
bought in the Chevrolet
showroom with prices
ranging from K30 million
to K300 million.
Dr Saw Nay Nwe said
about 20 Chevrolet cars
are sold every month at
the Yangon showroom
and about 400 cars have
been sold since the showroom opened two years
ago.
Myanmar Summary
CHEVROLET um;rsm;udk
e,fa'o&Sd jynfolrsm;0,f,l&m
wGif tqifajyapEdkif&eftwGuf
2016 ckEpS w
f iG f rEav;NrdKU um;
ta&mif;pifwmwpfck zGifhvSpfEdkif
&ef t wG u f pD p Of a eaMumif ; od
&onf/
j y nf ol r s m ; t a e j zif h
CHEVROLET
um;rsm;udk
0,f,lrnfqkyd gu &efuek fNrdKUwGif
om vma&muf0,f,lEdkifNyD;? e,f
Chevrolet's showroom in Yangon. The American car maker is set to open a new showroom in Myanmar's second-largest city Mandalay.
a'orsm;&Sdjynfolrsm; 0,f,l&m
wGif tqifrajyrIrsm;&Sdaeonfh
twGuf 2016 ckESpfwGif rEav;
NrKd U CHEVROLET um;a&mif;
pifwmzGifhvSpfEdkif&ef pDpOf&jcif;
jzpfaMumif; owif;&&Sdonf/
]]rE a v;rS m zG i fh zdkY t wG uf
taqmufttHkudkawmh aqmuf
aeNyD/ aemufESpfrSm zGifhrSmyg/
t "d u u a wmh jynf ol awG
tqif a jyatmif y g/ uRef r wdk Y

a&mif;wJhum;u tar&duefu
vmwJhum;jzpfwJhtwGuf *syef
um;awGxufvnf; ydkNyD;BuHUcdkifrI
&Sdw,f/vHkNcHKa&;tydkif;uawmh
ajymp&mawmifrvdak wmhygbl;}}[k
3DFLF$$0RWRUvDrdwufrS
trIaqmif 'gdkufwm a'gufwm
apmaeEG,f u ajymonf/
tqdyk gum;rsm; 0,f,rl nfqkyd g
u ig;ESpt
f mrcHEiS f h uv
D kdwpfoed ;f
tmrcHcsuaf y;xm;vsu&f aSd Mumif;?
,mOftm;jyKjyifrnfqykd guvnf;
pifumylEdkifiHwGif oifwef;ydkYcs
xm;onfh ynm&Sifrsm;ESifhom
jyKjyifay;vsu&f Sad Mumif; od&onf/
vmrnf h E S pf wG if rE a v;
ta&mif;pifwmtopftm; zGiv
fh Spf
oGm;rnfhtjyif ,mOftopfrsm;
udkvnf; xyfrHrdwfqufay;&ef
pDpOfaevsuf&Sdonf/ xdkYjyif ,if;

um;ta&mif;pifwmrS ,mOftrsK;d
pm;ckepfrsKd;tm; a&mif;csay;ae
vsuf&SdNyD;? 0,f,lrnfqdkygu
aps;EIe;f rsm;rSm ode;f oH;k &mrS oed ;f
oHk;axmifausmftxd&SdaMumif;?
owif;&&Sdonf/ ,cktcgwGif
tqdkygum;ta&mif;pifwmrS v
pOf,mOftpD;a& 20 cefYudka&mif;
csay;aevsu&f o
dS nf/
26
IT & TELECOM
mmbiztoday.com
Alibabas Singles Day Sales Surge 60 percent to $14.3 billion

Paul Carsten
Reuters/China Daily
libaba
Group
Holding Ltds total value of goods
transacted during its Singles Day shopping festival was 91.2 billion yuan
($14.32 billion), the Chinese e-commerce giant
said in Beijing.
The numbers got a boost
this year from adding the
sales from various new
channels, including its
DOLDWHV DQG LQYHVWHHV
,Q DOO WKH JXUH IRU WKLV
years Singles Day is up
60 percent from 2014.
The results are preliminary and unaudited,
Alibaba said. Of the total
value of transactions, 68
percent was through orders from mobile devices.
Six years ago, Alibaba
turned November 11 into
Chinas equivalent of
United States shopping
HYHQW &\EHU 0RQGD\ ,W
has now become larger
than both Cyber Monday and Black Friday
combined, and a closely
watched barometer of the
companys performance.
Alibaba founder and chairman Jack Ma gestures as he attends Alibaba Groups 11.11 Global shopping
festival in Beijing, China.
Alibaba is positioned as
the number one player in
the Chinese e-commerce
market, so it has to be
seen to be maintaining,
or gaining ground really,
said Duncan Clark, chairman of Beijing-based tech
consultancy BDA.
Singles Day was originally a mock celebration
in China for people not
in relationships. But Alibaba in 2009 co-opted

the event into a consumption-fest for all, featuring
steep discounts and other
promotions aimed at attracting droves of customers online. Alibabas sales
data have been closely
watched as a gauge of
Chinese consumption as
economic growth slows.
One of the new sales

channel pumping Alibabas Singles Day sales
was Suning Commerce
Group Co, in which it
bought a 20 percent stake
in August. Sunings instore sales will count toward Alibabas total gross
merchandise volume, as
ORQJDVWKH\JRWKURXJKnal processing online, an
Alibaba spokesman said.

Alibaba has stressed its
focus on international ecommerce this Singles
'D\:LWKLQWKHQH[WYH
years, we expect China
will become the worlds
largest e-commerce market for imported products, President Michael
Evans told reporters.
However, the event
could be risky for brands,
said Brian Buchwald,
CEO of consumer intelliJHQFHUP%RPRGD
,I \RXUH D QHZ EUDQG
to the market, you dont
want to train your consumer to wait for a sale
but you also need to use
this holiday to break in
with a top spending consumer, Buchwald said.
,Q WKH HQG \RX ZDQW
the consumer to come
back and pay full price.
Speaking at the companys Singles Day celebration in Beijing, Jack Ma,
the companys eccentric
founder and executive
chairman, told reporters
the events annual growth
in the future should be
over 50 percent. Reuters
Myanmar Summary
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Work.com.mm Updates Website

Moh Moh Kyi
MBT
ork.com.mm, a
website for local
job seekers, has
improved its website and
upgraded the Job Journal
page, in which jobseekers
FDQ QG RFFXSDWLRQDO DUticles, updated news and
jobs announcements, according to a work.com.
mm announcement.
We have improved our
site and put more things

on the Job Journal page
and we have also updated
news and articles on occupational
knowledge.
We are trying to put interviews with successful
professionals later on,
said Lynette Chong, marketing director of work.
com.mm.
,QWKH-RE-RXUQDOSDJH
of work.com.mm, jobseekers can read about ca-
A screenshot of work.com.mm website's Job Journal page.
reers and interview tips.

Young people need to
read more in order to get
VXFFHVV , ZDQW WR HQcourage young people to
read more, said author
Linn Thike Nyunt, who
mostly writes motivational articles for young
people.
Work.com.mm
has
around 2,000 jobs in different categories on its
website.
Myanmar Summary
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27
IT & TELECOM

mmbiztoday.com
Telenor Opens 37
Light House in Myingyan
th
Moh Moh Kyi
Telenor Myanmar
orwegian
telHFRPV UP 7HOenor has opened
its 37th Light House in
Myingyan in Mandalay
region.
With this addition, Light
Houses which provide
information services and
digital literacy training
are now available in nine
states and regions across
Myanmar.
Telenor in June last year
partnered with Myanmar
,&7 IRU 'HYHORSPHQW 2UJDQL]DWLRQ 0,'2 WR
establish and run Light
Houses in Myanmar.
7KH UPV DLP WR VHW XS
200 light houses by the
end of 2018.
The Light Houses are
social enterprises that aim
to educate rural and urban communities nationwide on the wide range of
economically and socially
EHQHFLDO
LQIRUPDWLRQ
found on the internet.
The centres are run by
local entrepreneurs, and
open to anyone in the local
community, from farmers

to local entrepreneurs,
and from urban dwellers
and villagers alike.
Our Light Houses are
sustainable social enterprises that aim to reduce
the rural and urban digital divide in Myanmar
in both smartphone and
computer use. Using Telenors technology, expertise, channels and social
investment, Light Houses
provide an innovative
digital literacy curriculum and information programmes, delivered by
capable socially-oriented
entrepreneurs supported
by local marketing campaigns and sustainable
income generation opportunities, said Min Thu,
head of corporate responsibility, Telenor Myanmar.
%RWK7HOHQRUDQG0,'2
have trained the local entrepreneurs in how to operate the centres as social
enterprises.
The type of trainings
available at Light Houses
are mobile-based internet
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k yf
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pmbmom&yfudk udk,fwdkifoif,l
avhvmenf;rsm;? Microsoft
Word , Excel ESifh Powerpoint
Myanmar Summary
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}LI?FNDMUPXIWYLIWGUI aeaMumif; od&onf/
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pifwm (Light House) udk
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NrdKUjyESifhaus;vufaejynfolrsm; ay;oGm;rnfjzpfaMumif; od&onf/
People at Telenor Light House.
trainings and computer

trainings. Under mobilebased internet training,
there are lessons such
as using mobile phones
HHFWLYHO\ KRZ WR XVH
mobile internet, how to
use Viber, Email and Facebook, how to search
information on the internet, and self-learning
English courses on the
internet. Under computer

trainings, basic computer
skills, Microsoft Word,
Excel and Powerpoint are
be taught.
To serve customers that
cannot visit Light Houses
in person, such as those in
villages, Light Houses will
soon provide outreach
digital literacy training,
Telenor said.
Experts Call for Local Hardware Production

Phyo Thu
Win Naing/Flickr
yanmar
can
produce quality
software products but it has to rely entirely on imported hard-
ware devices.
As the country experiences rapid growth in the
,7VHFWRUIRFXVVKRXOGEH
given on producing local
hardware, said U Khun
Oo, chairman of Myan-
A computer accessories sales centre in Yangon.
mar Computer Professionals Association.

Although Myanmars
,&7 VHFWRU LV GHYHORSLQJ
quickly, the number of
local computer users and
hardware makers is rela-
tively low.
,I WKH LPSOHPHQWDWLRQ
RI ,&7 &LW\ LQ <DQJRQ LV
successful, there will be
computer hardware factories. We can produce
more software and provide computer servicing
there. The government
should also focus more on
digitization of the country, U Khun Oo told Myanmar Business Today.
However, he admitted
that producing computers
or hardware devices localO\LVVWLOODORQJZD\R
Because all computers
in Myanmar are sourced
from foreign countries,
FRPSXWHUSULFHVXFWXDWH
heavily depending on the
exchange rate between
dollar and kyat.
7KHORFDO,&7KDUGZDUH
sector needs development. At the same time
we should also focus on
producing professional
software locally, said U
Zaw Moe Thet, managing
director of ACE Data System Co.
The number of people
JHWWLQJLQWRXFKZLWK,7LV
increasing and we should
focus on these people to
keep the momentum going, he added.
Myanmar Summary
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28

mmbiztoday.com
INTERNATIONAL & DOMESTIC FLIGHT SCHEDULES

INTERNATIONAL FLIGHT SCHEDULES
BANGKOK TO YANGON
YANGON TO BANGKOK
Flights
PG 706
8M 335
TG 304
PG 702
TG 302
PG 708
8M 331
PG 704
PG 704
Y5 327
TG 306
Days
Daily
Daily
Daily
Daily
Daily
Daily
Daily
Daily
7
Daily
Daily
Dep
06:05
08:40
09:50
10:30
14:50
15:20
16:30
18:20
19:30
19:00
19:50
Arr
08:20
10:25
11:45
12:25
16:45
17:15
18:15
20:15
21:45
20:50
21:45
Flights
TG 303
PG 701
Y5 238
8M 336
TG 301
PG 707
PG 703
PG 703
TG 305
8M 332
PG 705
Days
Daily
Daily
Daily
Daily
Daily
Daily
1,2,3,4,5,6
7
Daily
Daily
Daily
YANGON TO DON MUEANG
Flights
DD 4231
FD 525
FD 256
FD 254
FD 258
DD 4235
Days
Daily
Daily
Daily
Daily
Daily
1,3,5,7
Dep
08:00
08:30
12:50
17:35
21:30
12:00
Arr
09:45
10:20
14:40
19:25
23:15
13:45
Days
Daily
Daily
Daily
Daily
Daily
2,4,6
Daily
2,3,5
Dep
08:00
09:45
09:45
10:25
11:45
13:35
16:40
19:30
Arr
12:25
14:15
14:35
15:10
16:20
20:50
21:15
0:10+1
Flights
DD 4230
FD 251
FD 255
FD 253
FD 257
DD 4234
Days
Daily
Daily
1,2,3,5,6
Daily
Daily
Dep
08:30
12:15
14:00
16:00
19:05
Arr
12:45
16:30
18:00
20:15
23:20
Days
3,5,7
Dep
23:50
Days
Daily
Daily
Daily
Daily
2,4,6
Daily
Daily
2,3,5
Days
2,4,7
3,6
1,5
Dep
08:40
11:35
17:40
Days
Daily
Daily
1,2,3,5,6
Daily
Daily
Days
Daily
Dep
10:50
Arr
05:50+1
Flights
CA 905
Days
3,5,7
Days
Daily
3
1,2,4,5,6,7,
Dep
12:30
12:40
14:50
Flights
CZ 3055
CZ 3055
8M 712
Arr
16:10
Flights
CI 7915
Days
3,6
1,5
2,4,7
Days
Daily
Dep
19:10
Arr
15:55
18:50
18:15
Days
2,3,4,5,7
Dep
11:10
Days
Daily
Days
1,4,6
Dep
08:00
Flights
MU 2011
CA 415
MU 2031
Days
3
Daily
1,2,4,5,6,7
Arr
21:25
Arr
13:55
Flights
VN 957
Days
Daily
Days
4,7
Daily
Dep
00:50
23:55
Days
Daily
Dep
01:10
Days
2,3,4,5,7
Arr
11:10
Flights
QR918
Days
3,5,7
Days
Daily
Dep
22:10
Arr
08;50
07:45+1
Flights
KE 471
OZ 769
Arr
05:25
Days
Daily
3,6
Days
2
5
Dep
11:45
19:45
Flights
KA252
KA 250
Days
2,4,6
1,3,5,7
Days
1,3,5,6
4,7
Dep
12:50
14:30
Arr
06:45+1
Flights
NH913
Days
Daily
Days
3,5,6
Dep
10:30
Arr
13:00
21:00
Flights
BG 060
BG 060
Arr
14:45
16:20
Days
Daily
Dep
14:15
Arr
16:40
MANDALAY TO DON MUEANG
Flights
FD 245
Days
Daily
Dep
12:50
Arr
15;15
MANDALAY TO KUNMING
Flights
MU 2030
Days
Daily
Dep
13:50
Dep
08:25
11:10
13:30
Arr
11:50
11:30
14:00
Dep
16:40
Arr
18;10
Dep
08:30
Arr
10:10
Dep
20:40
Arr
06:25+1
Dep
18:30
19:30
Arr
22:30
23:40
Dep
22:20
21:45
Arr
00:15+1
23:45
Dep
11:45
Arr
17:15
Days
2
5
Dep
16:30
16:30
Arr
18:40
18:45
Flights
PG723
W9 608
Days
1,3,5,6
4,7
Dep
11:00
17:20
Arr
11:55
18:10
GAYA TO YANGON
Arr
11:55
Arr
16:40
Dep
15:45
07:50
Arr
20:50
14;15
Flights
AI 236
Days
2
Dep
13:10
Days
Daily
2,4,6
Flights
AI 235
Days
2
Days
1,5
5
Dep
14:05
18:45
Arr
17:20
19:45
Flights
AI 236
AI 233
Days
1,5
5
YANGON TO CHIANG MAI

Flights
Y5 251
7Y 305
W9 9607
Days
2,4,6
1,5
4,7
Dep
06:15
11:00
14;30
Days
Daily
Dep
13:50
Dep
07:00
Arr
12:20
Arr
08;05
12:50
16:20
Arr
16:40
Dep
13:10
13:30
Arr
14:10
18:00
CHIANG MAI TO YANGON

Flights
Y5 252
7Y 306
W9 9608
NAY PYI TAW TO BANGKOK

Flights
MU 2030
Arr
16:30
14:50
KOLKATA TO YANGON
YANGON TO KOLKATA
Flights
AI 234
AI 228
Dep
07:20
11:30
DELHI TO YANGON
Arr
16:30
Days
2,4,6
1,5
4,7
Dep
09:25
13:45
17:20
Arr
10:15
14:35
18:10
BANGKOK TO NAY PYI TAW

Flights
MU 2029
Days
Daily
Dep
12:50
Arr
14:55
DOMESTIC FLIGHT SCHEDULES

YANGON TO NAY PYI TAW
Flights
ND101
ND105
ND107
ND113
ND117
ND123
K7 234
K7 236
K7 234
Flights
8M 602
Days
3,5,6
Dep
12:50
Arr
16:00
BANGKOK TO MANDALAY
Flights
PG 709
Days
Daily
Dep
12:05
Arr
13:25
DON MUEANG TO MANDALAY
Flights
FD 244
Days
Daily
Dep
10:55
Arr
12:20
Days
Daily
Dep
12:55
Arr
15:55
Dep
07:00
08:00
11:00
15:00
17:00
19:30
07:00
17:00
06:00
Arr
07:55
08:55
11:55
15:55
17:55
20:25
08:00
18:00
07:00
NAY PYI TAW TO YANGON

Flights
ND100
ND102
ND104
ND110
ND118
ND122
K7 235
K7 236
K7 235
YANGON TO NYAUNG U
Days
1,2,3,4,5
1,2,3,4,5,6
1,2,3,4,5
1,2,3,4,5
1,2,3,4,5
1,2,3,4,5,7
Daily
Daily
Daily
Dep
06:30
08:30
09:30
13:30
17:30
18:30
08:15
18:15
07:15
Arr
07:25
09:25
10:25
14:25
18:25
19:25
09:15
19:15
08:15
NYAUNG U TO YANGON
HEHO TO YANGON
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
W9 141
Daily
06:20
08;35
W9 201
W9 129
Daily
1,2,3,4,5,6
07;00
15;30
09;10
16;40
W9 141
W9 201
Daily
Daily
08:50
05:25
10;55
10:35
YJ 891
YJ 881
Daily
Daily
06:00
06:10
08:50
08:30
W9 129
YJ 891
1,2,3,4,5,6
Daily
16:55
09:05
19:10
10:15
YJ 761
YJ 751
1,2,4
3,5,7
11:00
11:00
12:10
12:10
YJ 881
YJ 761
Daily
1,2,4
08:45
15:50
10:55
17:00
YJ 233
YH 917
6
Daily
11:30
06:10
12:40
09:00
YJ 752
YJ 602
3,5,7
6
17:15
16:25
18:25
17:35
YH 731
YH 727
Daily
1,3,5,7
15:00
11:15
16:10
12:25
YH 918
YH 728
Daily
1
09:35
16:00
10:45
08:10
YH 915
06:30
08:45
YH 731/732
YH 916
Daily
2
16:25
09:00
19:15
10:10
YH 505
K7 282
2,4,6,7
Daily
10:30
06:00
11:40
08:55
YH 506
YH 912
4,6,7
2
11:15
16:15
14:00
17:25
K7 242
K7 266
Daily
Daily
07:00
08:30
09:15
09:40
K7 263
K7 243
Daily
Daily
10:00
09:30
12:15
11:35
K7 240
K7 828
Dialy
1,3,5
10;00
13:30
12:15
14:40
K7 249
K7245
Daily
Daily
10:30
10:45
11:40
12:50
K7264
K7 248
Daily
Daily
14:30
08:00
15:40
10:15
K7 267
K7 241
daily
Daily
11:35
12:30
12:45
14:35
7Y 121
7Y 131
Daily
Daily
06:05
07:00
08:20
09:50
K7 829
K7 264/265
1,3,5
Daily
17:05
15:55
18:15
18:10
7Y 941
7Y 841
1,4,6
2,5
11:30
11:30
12:40
12:40
K7 283
K7 249
Daily
Daily
09:10
11:15
11:25
12;25
7Y845
7Y 241
3,7
1,3,4,6,7
11:30
14:45
12:40
15:55
K7 829
7Y 131
1,3,5
Daily
16:05
10:05
17:15
11:15
7Y 243
2,5
14;45
15;55
7Y 121
7Y 941
Daily
1,4,6
06:05
16:55
10:40
19:05
7Y 241
7Y 243
1,3,4,6,7
2,5
16:10
16:10
18:25
19:00
YANGON TO SITTWE
SITTWE TO YANGON
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
W9 309
YH 511
K7 422
7Y 417
1,3,5,6
1,3,5
Daly
Daily
11:30
10:30
13:00
11:00
12:55
11:20
14;50
12:50
W9 309
K7 423
K7 227
7Y 417
1,3,5,6
Daily
2,4,6
Daily
13:10
15:05
16;30
13:05
14;55
16:25
19;00
14:25
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
YJ 891
Daily
06:00
07:20
YJ 891
Daily
07:35
10:15
YJ 881
YH 917
Daily
Daily
06:10
06:10
07:35
07:30
YJ 881
YH 910
Daily
Daily
07:50
08:25
10:55
09:45
YH 731
Yh 909/910
Daily
Daily
15:00
06:00
17:40
08:10
YH 732
YH 915/916
Daily
2
17:55
08:05
19:50
10:10
Flights
W9 151/152
Days
1,3,6
Dep
12:30
Arr
15:25
Flights
W9 151/152
Days
1,3,6
Dep
15:45
Arr
18;40
K7 282
K7 248
Daily
Daily
06:00
08:45
07:20
10:05
YH 917/918
K7 283
Daily
Daily
07:45
10:05
10:45
11:25
W9 251/252
YJ 201
2,5
1,2,3,4
11:00
11:30
13:55
14:20
W9 251/252
YJ 202
2,5
1,2,3,4
14:15
14:35
19:30
18:05
7Y 264
K7 262
Daily
Daily
14:30
06:00
16:35
07:20
K7 248/249
K7 242/243
Daily
Daily
10:20
08:35
12:25
11:35
YJ 233/234
YH 835
6
1,3,4,6
11:30
07:00
15;40
09:50
YJ 234
YH 836
6
1,3,4,6
15:55
11:55
18:05
14:45
7Y 242
K7 248
Daily
Daily
07:00
08:00
08:20
09:20
K7 265
K7 263
Daily
Daily
16:50
10;55
18:10
12;15
YH 831
K7 622
5,6
Daily
07:00
12:30
09;25
15:20
YH 832
K7 623
5,7
Daily
13:30
15:35
15:55
18:25
7Y 240
7Y 131
Daily
Daily
10:00
07:00
11:20
08:20
7Y 131
7Y 121
Daily
Daily
08:35
07:40
11:15
10:40
7Y 841
2,5
11:30
14;50
7Y 121
7Y 241
Daily
1,3,4,6,7
06:05
14:45
07:25
15:55
7Y 241
7Y 243
1,3,4,6,7
2,5
17:05
17:40
08:25
19:00
MANDALAY TO YANGON
YANGON TO MANDALAY
MYITKYINA TO YANGON
YANGON TO MYITKYINA
PUTAO TO YANGON
YANGON TO PUTAO
Flights
W9 254/252
Days
4,5
Dep
11:00
Arr
15:05
Flights
W9 251/252
YH 835
1,3,4,6
07:00
10:45
YH 836
Days
4,5
1,3,4,6
Dep
15:25
11:00
Arr
19:30
14:45
Flights
Days
Dep
Arr
16:55
W9 201
W9 211
Daily
4,7
08:40
17:10
09:10
19:15
12:30
11:00
13:55
12:55
W9 151/152
W9 251/252
1,3,6
2,5
17:15
18;05
18:40
19:30
Daily
1,2,3,4
06:00
11:30
08:05
12:55
YJ 891
YJ 202
Daily
1,2,3,4
08:20
16:00
10;15
18:05
YJ 761
YJ 211
1,2,4
4,7
11:00
11:30
12:55
12;55
YJ 212
YJ 602
5,7
6
15:30
15:40
17:35
17:35
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
YJ 601
YH 917
6
Daily
11:00
06:10
12:25
08:15
YJ 234
YH 918
6
Daily
17:20
08:30
18:45
10:45
K7 844
K7 826
1,3,5,7
2,4,6
13:30
12:30
15:10
14;55
K7 845
K7 827
1,3,5,7
2,4,6
15:25
15:10
17:05
17:35
YH 731
YH 909
Daily
Daily
15:00
06:00
16:55
07:25
YH 910
YH 732
Daily
Daily
07:40
17:10
09:45
19:15
YH 835
YH 727/737
1,3,4,6
1,3,5,7
07:00
11:15
08:25
13:10
YH 836
YH 738
1,3,4,6
3,5,7
13:20
17:25
14:45
18:50
YH 911
YH 729
2
2,4,6
11:00
11:15
12:25
14:00
K7 282/283
K7 244/245
Daily
Daily
08:20
09:55
11:25
12;50
YH831
K7 262
5,7
Daily
07:00
06:00
11:20
08:05
K7 623
K7 267
Daily
Daily
17:00
10:45
18:25
12:45
K7 244
K7 622
Daily
1,3,5,7
08:15
12;30
09:40
13:55
K7 227
7Y 131
2,4,6
Daily
17:35
09:20
19:00
11:15
K4 226
K7 282
2,4,6
Daily
13:45
06:00
15:10
08:05
7Y 942
7Y 243
1,2,6
2,5
17:40
16:55
19:05
19:00
K7 266
7Y 131
Daily
Daily
08:30
07:00
10:30
09:05
7Y 941
7Y 841
1,4,6
2,5
11:30
11:30
13:25
13:25
7Y 845
3,7
11:30
13;25
Flights
W9 201
Days
Daily
Dep
07:00
Arr
08:25
W9 211
4,7
15:30
W9 151/152
W9 251/252
1,3,6
2,5
YJ 891
YJ 201
YANGON TO LASHIO
Flights
YJ 751
YH 729
K7 828
K7 828
Days
3,5,7
2,4,6
1,3,5
1,3,5
Dep
11:00
11:15
12:30
13:30
LASHIO TO YANGON
Arr
13:15
13:00
14;45
15:45
Flights
YJ 752
K7 829
K7 829
YANGON TO TACHILEIK
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
W9 141
W9 309
W9 311
YJ 881
YH 511
YH 505
K7 422
K7 242/243
K7 244
7Y 121
7Y 417
Daily
1,3,5,6
2,4
Daily
1,3,5
2,4,6,7
Daily
Daily
Daily
Daily
Daily
16:20
11:30
11:30
06:15
10;30
10:30
13:00
07:00
08:15
09:50
12;05
09:50
13:50
13;20
09:45
11:20
12;55
13;50
10:30
11:45
10:40
14;25
W9 141
W9 309
W9 311
YJ 881
K7 243
K7 245
K7 422
7Y 121
7Y 417
Daily
1,3,5,6
2,4
Daily
Daily
Daily
Daily
Daily
Daily
10;05
14;05
13:35
10:00
10:45
12:00
14:05
09:50
12:05
10:55
14;55
14;25
10:55
11:35
12:50
16:25
10:40
14:25
YANGON TO KYAUK PHYU
KYAUK PHYU TO YANGON
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
W9 311
2,4,7
11:30
12:35
W9 311
2,4,7
12:50
14:25
Dep
16:10
16:00
15:00
Arr
18:25
18:15
15:50
LOIKAW TO YANGON
YANGON TO LOIKAW
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
K7 442
1,3,5,7
12:00
13:00
K7 442
1,3,5,7
13:15
14:15
YANGON TO MAWLAMYINE
MAWLAMYINE TO YANGON
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
7Y 538
Dialy
18:40
19:15
7Y 537
Dialy
06:10
06:45
YANGON TO DAWEI
DAWEI TO YANGON
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
K7 319
07:00
08:10
K7 320
12;25
13;35
MYEIK TO YANGON
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
K7 319
07:00
09:05
K7 320
11:30
13;35
YANGON TO KAW THAUNG

THANDWE TO YANGON
Days
3,5,7
1,3,5
1,3,5
TACHILEIK TO YANGON
YANGON TO MYEIK
YANGON TO THANDWE
KUNMING TO MANDALAY
Flights
MU 2029
Days
1,2,3,4,5
1,2,3,4,5
1,2,3,4,5
1,2,3,4,5,6
1,2,3,4,5,7
1,2,3,4,5
Daily
Daily
Dialy
YANGON TO HEHO
SINGAPORE TO MANDALAY
Flights
Y5 2234
MI 533
YANGON TO DELHI
INCHEON TO YANGON
MANDALAY TO BANGKOK
Flights
PG 710
Arr
09:50
DHAKA TO YANGON
YANGON TO GAYA
Flights
8M 601
Dep
07:00
TOKYO TO YANGON
YANGON TO INCHEON
Flights
PG724
W9 607
Arr
10:35
16:40
15:50
HONG KONG TO YANGON
YANGON TO DHAKA
Flights
BG 061
BG 061
Dep
08:35
14:40
14:15
SEOUL TO YANGON
YANGON TO TOKYO
Flights
NH914
Arr
22:50
DOHA TO YANGON
YANGON TO HONG KONG

Flights
KA 251
Dep
19:30
HO CHI MINH TO YANGON

Flights
VN 943
YANGON TO SEOUL
Flights
OZ 770
KE 472
Arr
08:00
11:15
20:10
15:05
18:25
KUNMING TO YANGON
YANGON TO DOHA
Flights
QR919
Dep
06:55
10:05
19;10
13:50
17:20
HANOI TO YANGON
YANGON TO HO CHI MINH

Flights
VN 942
Arr
08:45
08:50
09:20
10:40
12:45
14:50
15:45
10:40
TAIPEI TO YANGON
YANGON TO HANOI
Flights
VN 956
Dep
07:20
07:20
07:55
09:10
11:30
13:25
14:20
05:20
GUANGZHOU TO YANGON
Arr
13:15
15:55
22:10
YANGON TO KUNMING
Flights
CA 416
MU 2012
MU 2032
Arr
07:05
08:00
12:20
17:05
20:55
11:15
BEIJING TO YANGON
YANGON TO TAIPEI
Flights
CI 7916
Dep
06:20
07:15
11:35
16:20
20:15
10:30
KUALA LUMPUR TO YANGON
Flights
AK 504
MH 740
8M 502
MH 742
AK 502
YANGON TO GUANGZHOU
Flights
8M 711
CZ 3056
CZ 3056
Arr
08:45
09:40
22:20
12:40
13:50
14:30
17:35
18:45
18:50
20:05
21:30
Days
2,4,6
1,2,4,5,6
SINGAPORE TO YANGON
YANGON TO BEIJING
Flights
CA 906
Days
Daily
Daily
Daily
Daily
Daily
1,3,5,7
Flights
TR 2822
Y5 2234
SQ 998
3K 581
MI 533
8M 232
MI 518
3K583
YANGON TO KUALA LUMPUR
Flights
AK 505
MH 741
8M 501
MH 743
AK 503
Dep
08:00
08:45
21:30
11:55
13:05
13:40
16:45
17:55
18:05
19:20
20:15
DON MUEANG TO YANGON
YANGON TO SINGAPORE
Flights
8M231
Y5 2233
TR 2823
SQ 997
3K 582
MI 533
MI 519
3K584
MANDALAY TO SINGAPORE
Flights
MI 533
Y5 2233
KAW THAUNG TO YANGON
Flights
Days
Dep
Arr
Flights
Days
Dep
Arr
K7 319
07:00
10:10
K7 320
10:25
13:35
Airline Codes
3K
6T
7Y
8M
BG
CA
CI
CZ
DD
DE
FD
K7
KA
=
=
=
=
=
=
=
=
=
=
=
=
=
Jet Star
Air Mandalay
Mann yadanarpon Airlines
Myanmar Airways International
Biman Bangladesh Airlines
Air Chaina
China Airlines
China Southern
Nok Airline
Condor
Air Asia
Air KBZ
Dragonair
KE =
MI =
MU =
MH =
ND =
NH =
PG =
QR =
SQ =
TG =
TR =
VN =
W9 =
Korea Airlines
Silk Air
China Eastern Airlines
Malaysia Airlines
FMI Air
All Nippon Airways
Bangkok Airways
Qatar Airways
Singapore Airlines
Thai Airways
Tiger Airline
Vietnam Airlines
Air Bagan
Y5 = Golden Myanmar Airlines

YH = Yangon Airways
YJ = Asian Wings
Day
1
2
3
4
5
6
7
~
~
~
~
~
~
~
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday
IT & TELECOM
29
mmbiztoday.com
Jorge Silva/Reuters
Myanmar Businesses Slow to Adapt

to Improvements in Internet
Jonathan Millar
espite rapid improvements

to
internet and telecommunications infrastructure in the past year,
Myanmar businesses are
still lagging behind in the
XVH RI ,QWHUQHW WHFKQROogy.
Consult Myanmar studied 72 audit/accounting
UPVDQGODZUPVLQ
<DQJRQDQGZHUHDEEHUJDVWHG WR QG WKDW
DQG UHVSHFWLYHO\ GR
not have websites and
RI WKHP DUH VWLOO XVing Gmail.
However, our study of
21 business travelers at
Yangon Airport showed
WKDW UHVSHFtively would not use a
SURIHVVLRQDOUPVXFKDV
an auditing/accounting or
D ODZ UP LI WKH\ GR QRW
have a website or corporate email.
What we found was that
among Myanmar companies and even government
agencies use of Gmail as
an accepted method of
business communication.
Many Myanmar business
people are not aware of
the poor image that is being communicated to foreigners about their business when they do not
have a corporate website
or email.
According to one established foreign marketing executive, many local
businesses have yet to be

convinced of the value in
modern marketing communications such as PR
campaign or a good corporate website. Potential
partners and clients in
other countries will make
a Google search of an industry category prior to
FRPLQJ WR <DQJRQ 0\DQPDU UPV WKDW GR QRW
appear in a search result
will miss the opportuniWLHVWKHH[HFXWLYHDGGHG
,WFRXOGEHEHFDXVHRI
years of under investment
in telecom infrastructure
has led Myanmar people
to not depend on the internet as it was not working properly for the last
GHFDGH ,W ZDV DIWHU WKH
economic reform and the
entrance of Telenor and
Ooredoo in end of 2014
that we see the mobile
DQG ,QWHUQHW PDUNHW IDFing competition and improving it service and reliability.
The next area we look
at is the adoption of online booking and payment system in the hotel
LQGXVWU\,QRXUVWXG\ZH
focus on the hotel industry as we felt that it was a
good proxy for how local
Myanmar businesses are
adapting to the nascent
internet
infrastructure
in Myanmar. The hotel
industry will be most afIHFWHG E\ WKH LQX[ RI
million tourists in 2015,
DFFRUGLQJ WR RFLDO J-
XUHV 7KLV LV D LQcrease over the previous

year and has every reason
WR XSJUDGH LWV ,7 LQIUDstructure.
We interviewed 21 business travelers and 31 Free
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),7 DW <DQJRQ $LUSRUW
in early October about
how they booked their
hotel prior to their trip to
Yangon. We found that
over 90 percent of the
travelers booked a hotel
prior to the trip. We also
found that over 50 percent of the travelers that
book online would not
book a hotel if it does not
accept online payment.
Our initial study of
3-stars hotels in Yangon,
all of which are owned by
Myanmar citizens, shows
that most hotels are not
LQYHVWLQJ LQ ,7 V\VWHPV
to promote their business
RQOLQH ,QVWHDG WKH\ SUHfer to let third party hotel
room booking sites such
as Agoda.com or Booking.
com handle their room
bookings and thereby
give up a portion of their
sales as commission to
the third party hotel room
booking sites.
,QWULJXHG E\ WKH UHVXOW
we dug deeper and studied 51 3-stars hotels in
Yangon and found that
GR QRW KDYH ZHEsites and 82 percent do
not accept online payPHQWRIWKHVHKRWHOV
are represented on third
party hotel room booking sites such as Agoda.

com or Booking.com. The
third party hotel room
booking sites charge the
hotel a commission of
up to 17 percent for any
room booking conducted
through their website.
This 17 percent commission is the cost to the
hotel of not having their
own website with online
booking and payment facilities.
Our research shows that
due to the dysfunctional
banking system in Myanmar and previous bad
experience with demonetization and bank runs,
Myanmar people have
learned not to trust banks
WRVWRUHPRQH\,WLVHVWLPDWHGWKDWOHVVWKDQ
of the population have a
bank account. So Myanmar people have no experience operating a bank
account, writing cheques,
using an ATM or making
purchases using credit
card. The element of trust
that is so important for
modern banking and for
e-commerce system to
work is unfortunately not
SUHVHQW LQ 0\DQPDU ,W
does not mean that online
banking or e-commerce
will not be possible in MyDQPDU,WMXVWPHDQVWKDW
it will be harder and it will
probably take longer for
them to take root in Myanmar.
Online shopping is in its
infancy in Myanmar with

companies such as RockHW ,QWHUQHWV 6KRSFRP
mm and Kaymu.com.
mm among those trying
to get established. However, online payments are
not easy, as few consumers have bank accounts
and there are no locallyissued credit cards. Vendors need customers to
SUHSD\ LQ FDVK RU RHU
cash on delivery. Online
retailers serving Yangon
face an added constraint,
the ban on motorbikes; a
ban that does not apply in
other cities. Online retailHUVWKHUHIRUHQHHGWRQG
D FRVWHHFWLYH V\VWHP
of goods delivery and of
handling cash-on-delivery.
With the opening up of
the telecom market in end
2014 to competition the
SHQHWUDWLRQ RI 6,0 FDUG
in Myanmar has grown
IURPLQWRLQ
March 2015. The exploding penetration of smart
phone in Myanmar has
meant that Myanmar has
made technological leaps
in the area of messaging
from using SMS to Viber/
WeChat, in the area of
one-to-many communications young people update their Facebook status instead of blogging or
email, in the area of facsimile from using fax machine to snapping a photo
of the document using
their smart phone and
then sending the photo to
a business associate via
email or Viber.
As to whether Myanmar
people can make that leap
to mobile banking and ecommerce - it is yet to be
seen. However one thing
for sure is that companies
such as Red Dot (a mobile payment company),
5RFNHW ,QWHUQHWV 6KRS
com.mm, telcos such as
Telenor and Ooredoo and
local banks are all working hard to make online
banking, online payment
and e-commerce a reality
in Myanmar.
The future of online
banking and e-commerce
is bright in Myanmar
however you need to have
deep pockets, strong convictions and a very patient and understanding
shareholders to make it
work.
Jonathan Millar is a
graduate from University of Otago (NZ). The
above article is part of
a research project that
Jonathan was involved in
as part of his internship
at Consult-Myanmar Co
Ltd in Yangon.
Myanmar Summary
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EVENTS
30

mmbiztoday.com
The Offering of the Royal Kathin Robe Ceremony

at Naga Hlainggu Kalaywa Tawya Monastery, Yangon
Thai foreign minister Don Pramudwinai donates a robe to monks.
Delegates pose for a photo.
Thai foreign minister Don Pramudwinai donates a robe to monks.
Delegates are seen at the event.
Thai foreign minister Don Pramudwinai performs a ritual.
Officials are seen at the event.
Thai ambassador to Myanmar Pisanu Suvanajata and Thai

foreign minister Don Pramudwinai join a group prayer.
EVENTS
31
mmbiztoday.com
Czech Republic National Day Event
Guests at the event.
U Myint Swe, Yangon regional minister and Ambassador Doleek speak at the event.
Winners receive award at the event.
Jaroslav Doleek, Czech ambassador to Myanmar, speaks at the event.
Myanmar HR Conference 2015
Photo : Kyaw Min
ASIA Best Mobile Application Award
Photo : Wun Zinn
Winners pose for a photo.
TRAVEL & LEISURE
32
mmbiztoday.com
Disney Counts On 300 Million Tourists

WR)HHG,WV6KDQJKDL%HDVW
Christopher Palmeri &
Gregory Turk
Bloomberg
seven in France.
At the same time, Disney
FRXOGWRQHDQGKDOIPRUH
theme parks in the land it has
been allocated in the resorts
zone, according to Bob Weis,
the executive in charge of
designing the resort. The contemporary Toy Story Hotel and
the more classically themed
Shanghai Disneyland Hotel,
ERWKDORQJDQDUWLFLDOODNH
may be just the start of the
UHVRUWVRHULQJV:HLVVDLGLQ
an interview at the companys
August convention for Disney
fans.
,ZRXOGQWEHVXUSULVHGLI
you see hotels all along that
lake some day, he said.
Disneys local partner -the state-owned Shanghai
Shendi Group, which will own
57 percent of the resort and
contribute about $2.1 billion
of the equity is under pressure to get it right, too, after
Chinas long orgy of real estate
speculation. The only other
VLJQLFDQWWRXULVPSURMHFW
now under construction in the
zone is a luxury shopping mall
being built by Value Retail
3OFD8.EDVHGGHYHORSHU,W
will open next to the Disney
resort and be similar to one the
company operates near Disneyland Paris. Land for residential
construction near the park
hasnt been auctioned since
last year, according to Centaline, Chinas largest real estate
agency. Meanwhile, home
prices in Chuansha, Zhoupu
and Kangqiao, neighborhoods
near the Disney resort, have
jumped more than 26 percent
this year.
,I'LVQH\DQG6KDQJKDLFDQ
strike the right balance, they
could transform the place
into the Orlando of Asia, said
Speigel. Shanghai Jiao Tong
University, he noted, recently
FUHDWHGWKHFRXQWU\VUVW
theme park studies curriculum.
About 70 percent of Chinas
theme parks lose money, 20
percent break even and 10
SHUFHQWDUHSURWDEOHDFFRUG-
ing to Paul Fang, a professor at

Jiao Tong who teaches theme
park studies.
Disney Resorts will raise the
standards high up for every
other theme park and attraction within China, Fang said.
$VLJQLFDQWQXPEHURISDUN
owners are nervously awaiting, many parks are already
undergoing upgrade or repositioning, and some will not
survive, and make way for new
and better theme parks down
the road.
Another way to look at it:
Disney, betting on Chinas rising middle class with its largest
foreign investment ever, has a
lot of competition.
On the other side of the
Huangpu River from Disneys resort, DreamWorks
$QLPDWLRQ6.*,QFDQGLWV
local partners are building the
$2.4 billion Shanghai Dream
Center. Scheduled to open in
late 2017, it will feature an
animation studio, live performance venues and an attraction tentatively called the Kung
Fu Panda Experience. Other
projects outside the resorts
zone include a marine animal
park from Chinese developer
Haiching Holding Ltd. and

a Legoland from UK-based
Merlin Entertainments, which
operates a Madame Tussauds
wax museum and an aquarium
in the city.
By clustering its attractions
with those of Disney and other
SDUNRSHUDWRUVZHFDQRHU
GLHUHQWSURPRWLRQVZLWKGLIferent partners, boosting attendance, said John Jakobsen,
who heads Merlins new-openings group. We all have our
own brands and intellectual
property.
Disney says 330 million
people with enough disposable income to visit the park,
which features the tallest
Disney castle in the world and
a focus on Chinese culture, live
less than three hours from its
JDWHV,WQRWHVWKDWWKHQXPber of upper-middle-class and
DXHQWKRXVHKROGVLQ&KLQD
is expected to grow 18 percent
annually between 2012 and
2022, according to McKinsey &
Co. estimates. The theme park
could be the largest in Asia,
topping Tokyo Disneylands
17.3 million visitors a year, said
Chris Yoshii, vice president for
HFRQRPLFVLQWKH$VLD3DFLF
Disney
ou speed along an empty

highway, past a little
town of rice paddies and
vegetable stands, and watch
the famous castle rise up as you
approach. Black-clad guards in
DNMDFNHWVFOHDU\RXDKHDGRI
a red steel archway. Next stop:
WKH6KDQJKDL,QWHUQDWLRQDO
Tourism and Resorts Zone.
The Disney Shanghai Resort,
ZKLFKWDNHVXSDERXWDIWKRI
the zone, is less than half an
KRXUE\FDUIURPWKHQDQFLDO
district of Chinas wealthiest
and most populous city, but it
feels like a kingdom all its own.
Six square miles of the zone are
vacant, set aside by Chinese authorities as part of a decadeslong plan to draw tourists here.
Whether it will be a magic
kingdom depends on how
shrewdly Shanghai and the
Walt Disney Co. build and sell
this 5,000-acre playground.
Chinas economic growth is
slowing, and Beijings national
crackdown on corruption has
ZDUQHGSHRSOHRRIWKH
conspicuous consumption and
RYHUEXLOGLQJWKDWRXULVKHGLQ
WKHERRP\HDUV,WPD\DOVR
depend on the outcome of an
investigation Chinas anti-corruption agency is making into
the activities of Shanghais vice
mayor, Ai Baojun.)
Disney Chief Executive OfFHU5REHUW,JHUKDVFDOOHGLW
the greatest opportunity the
company has had since Walt
Disney himself bought land in
Central Florida in the 1960s.
This is a really big deal, a
ERQDGHHRUWE\6KDQJKDL
to turn itself into a world-class
tourism destination, said Dennis Speigel, a theme-park consultant from Cincinnati who
has travelled extensively in the
region, fresh from a trip here.
Theyre counting on Disney to
be the driver of that.
You can tell. Ahead of the
parks opening, the Chinese
government just declared a
renewed campaign against ripSLQJREUDQGHGPHUFKDQGLVH
VSHFLFDOO\'LVQH\V
The Burbank, California,
company, which posted strong
QDQFLDOUHVXOWVODVWZHHN
damped by its international
parks including the Shanghai
park, delayed by many months
and now slated to open in the
spring has been stung by criticism that it built Disneyland
Paris too big and Hong Kong
Disneyland too small. The $5.5
billion Shanghai park will open
with two hotels, compared with
Fantasyland.
region for the consultancy

$HFRP'LVQH\&(2,JHUVDLG
on a conference call that he had
been to Shanghai twice in the
SDVWPRQWKDQGZDVFRQGHQW
in the project and the Chinese
economy.
And Disney did get it right
in Orlando, the theme-park
capital of the world, where
it operates four parks and
27 hotels alongside Comcast
Corp.s Universal Studios, Sea:RUOG(QWHUWDLQPHQW,QFDQG
Merlins Orlando Eye, among
others.
Even if it succeeds, the
Shanghai park itself wouldnt
move the needle much on
WKHFRPSDQ\VQDQFLDOV,W
could produce $300 million
LQUHYHQXHLQVFDODQG
break even by 2017, after which
it will contribute an increasing
but small amount to Disneys
earnings, said Tim Nollen, a
Macquarie Capital analyst who
rates the stock a buy. But a
hit could lead to other opportunities for Disney to expand
-- into, say, TV production in
China, Nollen said.
Building theme parks today
is a far more elaborate process than when Walt Disney
SXWXSWKHUVW'LVQH\ODQGLQ
Anaheim, California, in 1955.
Disney, who had to sell his secRQGKRPHWRKHOSQDQFHWKH
project, regretted not acquiring
more property around the park.
,IZHFRXOGYHERXJKWPRUH
land we wouldve bought it,
then we would have control of
it and it wouldnt look like a
second-rate Las Vegas around
here, he told employees at
Disneylands 10th anniversary,
according to Walt and the
Promise of Progress City, a
2011 book about the company.
He didnt make that mistake
again. When he sought to build
a second theme park, in Florida, Disney quietly bought up
thousands of acres of swampland near Orlando before going
public with his plans.
Shanghai, a shipping and
trade hub since the 1600s,
reinvented itself as Chinas
QDQFLDOFHQWHULQWKHVLQ
part by developing reclaimed
swampland of its own into a
phalanx of modern skyscrapHUV1RZLWKDVWKH,QWHUQDtional Tourism and Resorts
Zone and a mandate to bring
WKHWRXULVWVWROOLW
,Q&KLQDWKH\YHU\PXFK
like zones, Brock Larsen, a
theme-park designer based in
Burbank, observed. This is the
work zone. This is the apartment zone. And this is the play
zone.
Bloomberg

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Myanmar Business Today

November 19-25, 2015

MYANMARS FIRST BILINGUAL BUSINESS JOURNAL

November 19-25, 2015 | Vol 3, Issue 45

ADB to Loan $100 Million to Upgrade EITI Report Deadline

A motorist on Kannar road in Hpa-an in Kayin state.

he Asian Development Bank (ADB)

The Manila-based lender said the project will

cluding elevating portions

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Chevy to Open Mandalay

Myanmar Businesses Slow to

November 19-25, 2015

Business News in Brief

Reporters & Contributors

Design, Layout & Photography

No. 1A-3, Myintha 11 Street,

11,000 still need relocation after monsoon seaVRQRRGV

mainly exported rice to China, accounting for 422,044

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3,000 Government Commemorative Coins Sold

ver 3,000 commemorative K5,000

League for Democracy

emblem on the front, featuring K5,000 and production date in Myanmar

aygif; oHk;axmifausmf a&mif;cs

November 19-25, 2015

Myanmar Business Today

Emerging Honey Market

Myanmar for small honey

Pearl Production Set to Double

our new companies

will double in the coming

Zin Thu Tun

honey, but Chinese honey

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$13.7 million were produced in 2013-14.

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November 19-25, 2015

Myanmar Business Today

Myanmar Business Today

November 19-25, 2015

$60 Million ADB Loan to Provide Sustainable

he Asian Development Bank (ADB)

GDP, however, infrastructure and urban service delivery remain very

will build a new water

and creeks, and carry out

ever urban services are

ment provides real local

to respond to our clients

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mar and in 2013 advised

Myanmar Business Today

November 19-25, 2015

Fish Farm Loss Estimated Laboratory Equipment to

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ers have lost about 11,000

2015 ckEpS f Zlvikd v

Moh Moh Kyi

hose who wish to

Eastern Shan State Opens Rice Exports to China

ice from eastern

peaceful and the conditions are stable, so the

exports were permitted

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