Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

MYANMARS FIRST BILINGUAL BUSINESS JOURNAL

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January 1-7, 2015 | Vol 3, Issue 1

YCDC Demolishes 37 Buildings, Sues 2000 Property Owners Yangon Stock Exchange
in Attempt to Cut Back Illegal Construction
Moves Ahead
Tin Mg Oo

Morley J Weston &

Zin Thu Tun

number of cars in the city.

87LQ7KDQ2RDQHFRQomist and lawyer said, It
ZLOO FUHDWH GLFXOWLHV IRU
the public when they sue
and demolish the buildings all of the sudden.
+RXVHRZQHUVZLOOIDFHDQ
increase in house rental
cost, building contractors cannot pay their own
rent, and the buyers who

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taqmufttHkaygif; ESpfaxmif
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rnfjzpfaMumif; 'DZifbm 24 &uf

apan
Exchange
Group, Daiwa Institute of Research
and Myanma Economic
Bank have signed a joint
venture agreement to set
up the Yangon stock exchange.
The joint venture will
be named Yangon Stock
Exchange Joint-Venture
Company Limited, and
has K32 billion in capital,
according to Japan Exchange Group.
Daiwa Institute of Research Ltd will hold 30.25
percent of the joint venture, and Japan Exchange
Group 18.75 percent.
Myanma
Economic
Bank, owned by the Myanmar Ministry of Finance, will hold a controlling share of 51 percent,
Xinhua reported.
The agreement is the
outcome of long and conscientious
negotiations
between the competent
authorities of Japan and
Myanmar to set up and

Contd. P 10...<&'&

Contd. P 10...<&'&

Contd. P 10...<DQJRQ6WRFN

Zarni Min Naing

he Yangon City Development

Committee (YCDC) is
suing the owners of over
2000 buildings and the
committee will take actions including ceasing
electrical service or forcing demolition, said chief
RFHU87KDQ+WD\IURP
the YCDC Engineering
Department.
We are currently taking
action against buildings
which were constructed
illegally. We have issued
instructions for demolition in some places. Currently, we have demolished 37 buildings and
most of the buildings are
sued in court, he said.
The committee had
previously issued warnings in local newspapers
that YCDC would revoke
licenses for those who
undertook unauthorized
construction, and the
committee is following
through on its warnings,
VDLG87KDQ+WD\
The engineering department is also collaborating
with the Yangon Electric-

An apartment is seen in Tarmwe Township.

ity Distribution Board to

FXWRHOHFWULFLW\WRWKHLOlegal constructed building.
YCDC has issued orders
stating that there must be
at least one foot of space
between buildings and
that buildings may not be
extended into existing alleyways. They have also
required new buildings to
be built with consideration for parking spaces,
to cope with the growing

Myanmar Summary

Myanmar Summary

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tkyfpk Daiwa Institute of
Research ESifh jrefrmhpD;yGm;a&;
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Inside MBT

Japanese-Built Ferries May

Switch Routes Would Ease
Transportation Across River
P-4

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Back
P-8

Register Foreign Companies MIC

P-11

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Myanmar Business Today

January 1-7, 2015

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Business News in Brief

MYANMARS FIRST BILINGUAL BUSINESS JOURNAL

Board of Editors
Editor-in-Chief - Sherpa Hossainy
Email - editor@mmbiztoday.com
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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

Art & Design

Zarni Min Naing (Circle)
Email - zarni.circle@gmail.com
Ko Naing
Email - nzlinn.13@gmail.com

DTP
May Su Hlaing

Translators
Aye Chan Wynn,
Wai Linn Kyaw

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)LVKHULHV7R6WUXW7KHLU6WX$W([SR
The Myanmar Ministry of Livestock, Fisheries and
5XUDO'HYHORSPHQWZLOOKROGDVKHU\H[SRVLWLRQIURP
January 1st-3rd, Xinhua News Agency reported.
The exposition will, promote public awareness on
VKHULHVDQGGHYHORSLQJYDOXHGDGGHGSURGXFWVLQWKH
industry, according to the Ministry for Information.
A design contest will also be held, with such categoULHV DV WUDGLWLRQDO VKLQJ JHDU DQG EDFN\DUG KDWFKHU\
design. The exposition also aims to raise awareness of
WKHQDWLYHVKVSHFLHVLQ0\DQPDUDVZHOODVWKH
need for natural resources protection.
0XVH2YHUORDGHG&KHFNSRLQWWREH([SDQGHG
The Muse border checkpoint between Myanmar and
China will be expanded to handle the increased trade
between the two countries, the Global New Light of Myanmar reported.
As the area of check point at Muse 105th-Mile Trade
Zone does not balance with the number of vehicles carrying export products, the export and import check
point yard needs to be expanded, according to an ofFLDO
The Border region in northeastern Shan state handles
1,400 vehicles per day.

job opportunities at local banks, the Global New Light

of Myanmar reported. This comes as foreign banks are
set to enter the Myanmar market, and local banks will
OEZSUHVVHGWRQGVNLOOHGZRUNHUV
0DQGDOD\WRUHFHLYHHOHFWULFLW\XSJUDGH
Mandalay will install new electrical transformers and
power lines worth $140,000 in preparation for the
surge in electricity use in summertime, Global New
Light of Myanmar reported. Wooden electrical posts
are to be replaced with concrete ones, as is happening
elsewhere in the country. Mandalay has experienced
electrical problems in the past, worsened by the increased availability of air conditioning.

Myanmar Summary

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vmrnfh Zefe0g&Dv 1 &ufaeYrS 3 &ufaeYtxd a&xGufukefjyyGJwpfckudk
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vkyfief;zGHUNzdK;wdk;wufa&;ESifhwefzdk;jrifhxkwfukefrsm; ydkrdkxkwfvkyfEkdif
&ef &nf&G,f jyKvkyfjcif;jzpfaMumif; od&onf/
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od&onf/ rlq,f 105 rdkifukefoG,fa&;ZkefwGif&Sdonfh tqdkygppfaq;
GRQHVLDLQ\HDUV
Myanmar will export half a million tons of rice to In- a&;*dwfonf ydkYukefypnf;rsm; o,faqmifvmonfh,mOfrsm; ydkrdkrsm;
donesia in the next three years, Xinhua reported the jym;jcif;aMumifhjzpfonf[k od&onf/ jrefrmEdkifiHonf tif'dkeD;&Sm;
Ministry of Commerce as saying. Myanmars rice export
is growing, fuelled by Chinese and African demand.My- EdkifiHodkY vmrnfhoHk;ESpftwGif; qefwefcsdefig;odef;cefY wifydkYoGm;rnf
anmar will import cement from Indonesia, as increased [k od&onf/ jrefrmEdkifiHonf tif'dkeD;&Sm;EdkifiHodkY pm;aomufukef
construction has led to a greater need for building ma- ypnf;rsm; t"duwifydkYaeNyD; pm;tkef;qDrsm;udk t"duwifoGif;vsuf
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tries amounted to $499 million, with Myanmar mostly
exporting food products and importing palm oil. Indo- a':vm 241 oef; &if;ESD;jrKyfESHxm;onf/
tif'dkeD;&Sm;EdkifiHydkif owKwGif;ukrPD PT Timah Tbk onf
nesia invested 241 million dollars in Myanmar in 2014.
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,QGRQHVLDQ7LQ6PHOWHU3ODQ&DQFHOHG
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Indonesian state-owned tin mining company PT
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for the plant and due to concerns over security condijrefrmhb@ma&;tzGJUtpnf; Myanmar Finance Institute onf
tions, Reuters reported Indonesian newspaper Kontan MUHIUPYOLIUVP?WYN\IWXGNLIWF*LIKWYUI\GNUGN 6GDS HI QI *I
as saying, citing Corporate Secretary Agung Nugroho.
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Timah is one of the largest tin producers in the world.
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January 1-7, 2015

Myanmar Business Today

mmbiztoday.com

4
Myanmar Business Today

LOCAL BIZ
January 1-7, 2015

mmbiztoday.com

Japanese-Built Ferries May Switch Routes

Would Ease Transportation Across River
Tin Mg Oo

ized Boat Drivers Association.

The new ships donated
by Japan, named Cherry
1, 2 and 3, are currently
running on the same
schedule from 5:30 AM
to 9:00 PM, with 23 runs
each transporting combined 25,000 to 30,000
commuters everyday to
and from Pansodan and
Dala, according to IWT.
Myanmar Summary

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rsm; jyKvkyfEdkif&ef avhvm&m

Aundrea Montao

uthorities are conducting

surveys
to run a new ferry
route from Sintowettan
jetty to Kamakasit on
the banks of Dala township using ships previously operating between
Pansodan and Dala on
the Yangon river, according to the Inland Water
Transport (IWT).
Theres an existing
jetty at Sintowetan but
theres none at Kamakasit so we are working
with the Port Authority to
build one there. Now only
small motorized boats are
running along the route.
A ferry will provide better
transportation to Nyaung
Lay Bin market and Thanzay market on (Yangon)
VLGH 8 0\R 1DLQJ DVsistant manager of IWT,
told Myanmar Business
Today.
The
Pansodan-Dala route was recently
equipped with three ferries provided by Japan,
which replaced the old
ferries. The new ferry

URXWHLVSDUWRIWKHHRUWV
to promote the development of Yangons western
waterfront area, he said.
Surveys have also been
done for the feasibility of
a ferry route connecting
Kyimyintai township in
western Yangon to eastern Botahtaung township
and northeastern Shwepyithar township. Authorities are seeking solutions
for expanding the port
area, currently obstructed
by the red tape and lack of
transparency.
A pervious ferry route
FRQQHFWLQJ+ODLQJWKDU\DU
township in western Yangon and Sintowetan had
been suspended shortly
after its launch due to its
inability to attract enough
passengers to sustain the
cost of the operation.
There are over 100,000
people living on the bank
of Dala, so if the route is
connected, the transportation will be smoother as
(the other end) is close to
TheinGyi market. But the
river is narrower in this
SDUWVDLG87LQ1LFKDLU
of the Kamaraung Motor-

A ferry crosses the Yangon RIver.

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Long-Overdue Archaeological Database To Be Created

Phyo Thu

database will be set

up to monitor the
conditions around
historical and archeological sites, according to a
meeting of the government sub-committee on
research management.
A database needs to be

created for historically

VLJQLFDQW ORFDWLRQV WR
monitor the areas by collecting geological information of the designated
areas and the surrounding environment, and
existing data also needs
to be stored systemically,
the deputy minister for
science and technology

Dr Aung Kyaw Myat said

in the meeting.
To implement international standard conservation and research methRGVLQWKH81(6&2OLVWHG
KLVWRULFFLWLHVRI+DQ/LQ
Bate Tha Noe and Thare
Khitaya, the necessary information should be collected and an inventory

of historical buildings and

items needs to be prepared. Committees will be
set up to carry out fundraising and implementation activities, he said.
7KH 0LQLVWU\ RI +RWHOV
and Tourism also said
that Myanmar needs to
conserve historically sigQLFDQW ORFDWLRQV WKDW DW-

tract tourists as part of

the Myanmar Tourism
Strategy, which aims to
develop the industry and
generate more income.
The government is also
getting help from the Nepal-based International
Centre for Integrated
Mountain Development
to develop an eco-tourism
policy as part of the plan
to expand the tourism industry.
Myanmar is making
progress with its plan to
GHFODUHD9LVLW0\anmar Year, a year-long
tourism boosting campaign.

David Ross

Myanmar Summary

Myanmars cultural heritage should be properly catalogued.

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wdkYvkyfaqmifoGm;rnfjzpfonf/

LOCAL BIZ

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

Wai linn Kyaw

Investors Slow to Tap Myanmar Medical Market

Myanmars Population
Growing by
34,000 per Month
Morley J Weston

rom April to October this year, Myanmar's popXODWLRQ JUHZ E\  DFFRUGLQJ WR RFLDO
statistics from the Ministry of Immigration and
3RSXODWLRQ UVW UHSRUWHG LQ WKH *OREDO 1HZ /LJKW RI
Myanmar.
This amounts to a projected population increase of
407,957 per year.
This growth rate is lower than the world average, estimated by the World Bank to be 1.15 percent per year.
This population growth rate is very much in line with
D  81 UHSRUW ZKLFK SUHGLFWHG WKDW 0\DQPDU
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7KH81SURMHFWVWKDWIURPWR0\DQPDUZLOO
be the second slowest growing country in ASEAN, with
only Thailand growing more slowly. Malaysia will be
the fastest growing country in ASEAN, accruing to the
report titled, " The World Population Prospect: The Revision 2010."
These statistics must be viewed as rough estimates,
however, given the nature of demographics in Myanmar.
This year's census revised the population from
 WR  SHRSOH DQG QHZ UHSRUWV
based on this adjusted data have been slow to be released. The census results released were preliminary
GDWDDQGWKHRFLDOUHSRUWLVGXHWREHUHOHDVHGLQ0D\
2015.
The Yangon region is the most populated in Myanmar, with 7,355,075 people.
Myanmar Summary

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jzpfonfh wpfESpfvQif 1 'r 15 &mcdkifEIef;xuf avsmhenf;aeao;
aMumif; od&onf/
jrefrmEdkifiHonf tmqD,HEdkifiHrsm;wGif 'kwd,vlOD;a&wdk;wufrI
aES;auG;qHk;EdkifiHwpfEdkifiHjzpfNyD; xkdif;EdkifiHonf yxrvlOD;a&wdk;wuf
U,WHQIT+N(GNLIL+ZSI(GNLIL+M]SIRQI>N XUPKE3I? RZLI[NZIM\HI
csufrsm;t& od&onf/

Zayar Nyein

lthough Myanmar
has allowed 100
percent foreign investment in pharmaceutical manufacturing and
private hospital operation, only four joint ven-

ture companies have been

set up so far in the sector,
according to secretary
general of the Myanmar
Investment Commission
0,&8$XQJ1DLQJ2R
We approve foreign investment in pharmaceutical production but we
havent received any 100
percent investment yet.
Joint ventures have been
emerging. Some European countries are planning
to establish joint ventures
and some local investors
are set to corporate with
Korean investors. We also
allow private Myanmar
investment in the sector,
VDLG 8 $XQJ 1DLQJ 2R
who is also a director general in the Directorate of
Investment and Company
Administration (DICA).
The four joint ventures
incorporated partly with
foreign investments are
&ROXPEXV
+HDOWKFDUH
Servicces Co. Ltd, Royal
Parami Life Services Co.
/WG 69 +ROGLQJ &R /WG
and Sumitivej International Co. Ltd, according

to a meeting of MIC.
The four healthcare
service companies will
be located in Mayangone
township in Yangon.
Previously, both foreigners and Myanmar
nationals were barred
from building pharmaceutical factories, so the
drug market has been
largely relying on foreign
imports. Along with the
reforms and the surge in
foreign investments, the
government has allowed
full investment in establishing medicine production facilities and private
hospitals with the aim of
producing quality medications as well as providing international standDUGKHDOWKFDUHVHUYLFHV8
Aung Naing Oo said.
Myanmar Summary

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rqdk owfrSwfcsufESifhudkufnD&if
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Healthcare Services Co.,Ltd
(Myanmar), Royal Parami
life Sevices Co.,Ltd, SV
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ESifh Sumitive International
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ESrH pI m&if;rsm;t&od&onf/

LOCAL BIZ

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

Forged Passport Detectors Now in Mandalay, Naypyitaw

rsm;udk twktppfppfaq;Ekdifrnfh
pufypnf;ud&d,mrsm; ,ckv
achines that can
twG i f ; wyf q if o G m ;rnf j zpf
detect
forged
aMumif; vl0ifrIBuD;Muyfa&;ESifh
passports were
trsKd;om;rSwfyHkwifa&;OD;pD;Xme
installed at the international airports in NayrSeT Mf um;a&;rSL ;csKyfO;D armifarmif
pyitaw and Mandalay in
oef;u Myanmar Business
December to inspect the
Today odkY ajymonf/
documents of foreigners
tqdyk gpufukd MopaMw;vsEikd if H
entering the country, acu
tultnDay;um wyfqif
cording to the Immigration and National Regisay;oGm;rnfjzpfNyD; tqdkygpuf
tration Department.
onf jynfyrS0ifa&mufvmaom
The machines were in(G N L I L + M FPRP^QI K R QI U VP?
stalled with the assistance
Passport ESifh Visa rsm;udk
of the Australian governtwk
tppfcjJG cm;od&EdS idk rf nfjzpfN yD;
ment and they will be able
WR GLHUHQWLDWH ZKHWKHU
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the passports and visas
onfh puf t rsKd ; tpm;jzpf u m
of the foreign visitors are
vG e f c J h o nf h & uf y d k i f ; twG i f ; u
genuine or fake, as well
&efuek t
f jynfjynfqikd &f mavqdyf
as store detailed record
wG
i
f
v
nf ; wyf q yf x m;NyD j zpf
of the travel documents.
Yangon
International
aMumif ; od&onf/
Airport has also been
OD;armifarmifoef;u ]]tJ'D
equipped with such a mapufu avqdyfwpfckrSm wpfpHkpD
chine recently.
wyf&rSmjzpfygw,f/ MopaMw;vs
Each
airport
is
EdkifiHu tultnDay;NyD; wyfqif
equipped with a set of maMyanmar
Summary
chines with the help from
ay;wmyg/ Passport eJY Visa
Australia. The machine
aejynfawmfESifh rEav;NrdKUrsm; twktppfudk tJ'Dpufu cGJjcrf;
can distinguish between
&S d tjynfjynfqdkif&mavqdyfr sm; pdwjf zmay;rSmyg/Passport twk
genuine and false passG f;udk 0ifa&mufvmr,fh
ports and visas. This is a odkY 0ifa&mufvmaom jynfy eJ Y jynfwi
measure to prevent peo- (GNLIL+RPUVP?(GNLIL+XOYXIU6ZI ol a wG udk umuG ,f wm;qD ; wJ h

Morley J Weston

ple with fake documents

from entering the country. This equipment is
used in many countries,
8 0DXQJ 0DXQJ 7KHLQ
told Myanmar Business
Today.
Myanmars Minister for
Immigration and PopulaWLRQ 8 .KLQ <L VLJQHG DQ
memorandum of underVWDQGLQJ 028 ZLWK KLV
Australian
counterpart
Mr Scott Morrison in late
November in a ministerial
summit to cooperate on
a wide variety of issues,
including the implementation nation-wide connectivity systems, land
and sea customs territory
protection,
assessment
and approval of academic and professionals for
permanent residency and
establishment of a public relations division for
the Immigration Department.

Kyaw Min

Passports will come under greater scrutiny in Mandalay and Naypyitaw.

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EdkifiHwGif usif;ycJhNyD; em;vnfrI
pmcRefvTmvnf; vufrSwfa&;xdk;
cJhMuaMumif; od&onf/

Restaurant Owners Buying Tax Stamps,

but Distribution Unclear
Zin Thu Tun

Zarni Min Naing

estaurant owners
in Yangon Region
have bought tax
stamps worth over K2 billion in the month since
new taxation system was
enacted according to the
Internal Revenue Depart-

ment (IRD).
The tax regulators have
instructed
restaurants
to collect sales tax from
patrons using the tax
stamps, which are have
been posted on restaurant bills since November. Since then, 531 restaurants have bought tax

stamps. Although the

stamps have been issued,
we are not sure if the restaurants have used all
RI WKHP 8 =DZ 0\LQW
Aung, deputy director at
the IRD told Myanmar
Business Today.
But the restaurant owners say in implementing

the system they are facing

SUREOHPV IURP WKHLU VWD
failing or forgetting to put
the stamps on the bills to
losing patrons who are
disappointed by the extra
amount in the bill.
Some restaurants have
not started issuing on the
stamps and the basics
DQGEHQHWVRIWKHV\VWHP
should be explained to the
VWD WR SURPSW WKHP WR
use the stamps regularly,
VDLG 8 .\DZ 0\DW 0RH
secretary general of the
Myanmar Restaurant Association.
The customers can
complain to the relevant
WD[ RFHV LI WKH\ QRWLFH
that a restaurant is not
posting the tax stamps.
Then we will issue warnings and afterwards take
punitive measures with
the approval of the highHUXSVVDLG8=DZ0\LQW
Aung.
IRD has been educating
restaurant owners about
the tax stamps and promoting their use since November, while the stamps

are available at relevant

WRZQVKLSWD[RFHV
,QLWVUVWPRQWKRIRSeration, IRD has earned
tax revenue of K 2.41 billion through the sale of
stamps to 531 restaurants.
Restaurant owners who
still fail to comply after
the end of the education
period will face penalties
ZKLFKUDQJHIURPQHVRU
a one to three year prison
sentence.
Myanmar Summary

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531 rS txufygwefzdk;yrmP

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OD;aZmfjrifhatmifu Myanmar
Business Today odkY ajymonf/
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a&;rSL;OD;ausmjfrwfr;k d u ajymonf/

7
Myanmar Business Today
January 1-7, 2015

mmbiztoday.com

LOCAL BIZ

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

Electricity Holding Industry Back

Zayar Nyein

In addition to electricity, access to pure water

is another issue for industry.
Only 35% of the indusWULHV LQ +ODLQJ 7KDU <DU
industrial zone can obtain water. For the past
8 years, the rest of the
 DUH UXQQLQJ ZLWKRXW
DFFHVVWRWKHSXULHGZDWHU VDLG 8 0\DW 7KLQQ
Aung, the chairman of the
industrial zone.
$V SXULHG ZDWHU LV HVsential to produce quality products, companies
unilaterally bought clean
water from the nearby
Phuu Gyi Dam, but currently the total availability of clean water for all
industries from the zone
LVLQVXFLHQW

Zarni Min Naing

ndustrial leaders have

EODPHG LQVXFLHQW
electricity
during
the summer as the main
problem for the development of local industrial
zones, and said that it is
important to resolve the
issue before Myanmars
entrance into the ASEAN
Economic
Community
(AEC) in 2015.
Despite the cheap price
of electricity, business
owners are facing challenges to their businesses
as there are frequent electricity cuts, especially in
May and June.
Large industries can
buy electricity from private
companies but small and
medium size businesses
are mainly rely on public
electricity. There are some
RHUV IURP WKH SULYDWH
companies but they cant
give up the government
electricity, said a business
owner from South Okkala
Industrial zone.
Electricity may become
the main problem for local
industries against competition with other regional
markets in AEC in 2015.
It is impossible to compete in the AEC without
VXFLHQWHOHFWULFLW\VDLG
SME owner from South
Dagon Industrial Zone.

About seventy percent

of Myanmars electricity
production is reliant on
on hydro power. But as
there are water shortages
in summer, the Ministry
of Electricity is currently
preparing to produce
electricity using gas turbine plants.
The construction of
gas-turbineplants is quite
fast. But where is the gas?
The public are not willing
to accept a rise in the cost
of electricity. The current
price of electricity is quite
economical with hydro
power but with gas turbines, the price will more
than double. We have already granted license to
local private companies,
but it will be better with
foreign investment. But
as the cost of electricity is
quite low for local companies, they are not willing
WRLQYHVWVDLGDQRFLDO
from Ministry of Electric
Power.
Early in 2014, Japan International Cooperation
Agency and Asia Development Bank collaborated
and drew up a National
Electricity Policy (20152030) to electrify the
whole country. The draft
LV FXUUHQWO\ LQ LWV QDO
stage and they will submit
it to the president after
WKHQDOGUDIW

Birds perch on an aging electrical system in Yangon.

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wpf,lepf 150 txd wdk;ay;
Myanmar Summary
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jzpf o nfh vQyf p pf "mwf tm;udk rsm;taejzifh xdcdkufepfemrIrsm;
2015 ckESpf tmqD,HpD;yGm;a&; &Sdae&aMumif; od&onf/
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Bus Companies to Install Bomb Detectors

Kyaw Min

8

Files

Nyan Tun Aung,

supervisor of the
Department
of
Aung Mingalar Express

Station told Myanmar

Business Today that the
relevant authorities have
given orders to install
bomb detectors at all bus
lines in the Aung Min-

Aung Mingalar Bus Station in Yangon.

galar Express Station.

All the express bus lines
will need to install bomb
detectors. The relevant
authorities from the station will oversee the in-

stallation, along with the

police and development
authorities.
The authorities instructed us to install bomb
detectors on each bus
line. We will take action
against those bus companies that fail to follow
WKH LQVWUXFWLRQV E\ QLQJ
or shutting down the bus
lines. Additionally, we
have also instructed them
to install CCTV cameras
on each bus, but some bus
companies do not follow
these instructions., said
81\DQ7XQ$XQJ
Additionally, the authorities also instructed
the bus lines to carry out
security checks such as inspecting luggage and other goods said a supervisor
from Mandalar Minn bus
line, which is based in
Aung Mingalar Express
Station.
We are carrying out the
security screening by col-

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Myanmar Summary
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laborating with the bus
lines and relevant authorities for the safety of the
passengers and vehicle.
We also alert the authorities to any suspicious activity, he said.

9
Myanmar Business Today

LOCAL BIZ
January 1-7, 2015

mmbiztoday.com

Myanmar Banks Need Counterfeit Machines,

Cash Needs More Safeguards - Banker
ond Lieutenant Zaw Min
Oo said.

Kyaw Min

Myanmar Summary

Phyo Thu

yanmar banks
urgently need to
be armed with
counterfeit bill detection
devices, an expert told
Myanmar Business Today.
Counterfeit detection
machines are expensive
but every bank should inVWDOO WKHP VDLG 8 7KHLQ
Lwin, an advisor to the
Kanbawza bank. Myanmar currency notes, printed with German technology, have reliable security
features but have fewer
colors and slight quality
GLHUHQFHFRPSDUHGZLWK
other countries notes
which can deter counterfeiters, he explained.
Currency in some countries use up to 10 colors on
a single note. Our notes
are largely dominated by
D VSHFLF FRORU PDNLQJ LW
easy to counterfeit. It may
be harder to fake if four,
YHRUHYHQWHQFRORUVDUH
used, he said.

The police are conducting follow-up investigations after seizing counterfeit notes worth over
K90 million and arresting
three people in Belin of
Mon state in late November, Police Second Lieutenant Zaw Min Oo from
WKH 3ROLFH +HDGTXDUWHUV
in Nay Pyi Taw said.
Ten K10,000 notes and
printers were also seized

in Yangon on NovemEHU  LQ D FDVH ZKHUH

a Kyi Myin Dai township convenience store
owners suspicions led to
the uncovering of a stash
of counterfeit notes and
printing equipment in an
apartment in Sanchaung
township, leading to the
arrest of two suspects.
The registered resident
of the apartment is still at

large, the police said.

The police are investigating to see if there is any
connection between the
suspects arrested in Mon
state and Yangon while
DOVRQGLQJRXWKRZWKH\
obtained the paper and
machines for counterfeiting and whether they
have connections with
local and foreign money
counterfeiting rings, Sec-

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bm vtwG i f ; u zrf ; qD ;&rd c J h
aMumif; od&onf/

LOCAL BIZ

10
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

US Investment Limited,
Focused on Energy- MIC
Phyo Thu

nvestors from the

8QLWHG 6WDWHV DUH
most interested in
the energy sector among
the potential investment
options in Myanmar, according to secretary general of the Myanmar Investment
Commission
0,&8$XQJ1DLQJ2R
We have learnt that
they want to invest in
electricity
generation,
natural gas extraction as
well as the infrastructure
and tourism sectors. But
American investment is
UHODWLYHO\ ORZ VR IDU 8
Aung Naing Oo said during his recount of his experience at the Myanmar
Investment Forum held in
New York.
&XUUHQWO\ 86 FRQJORPerate GE is providing
QDQFLDO DQG WHFKQLFDO
assistance to Myanmars
Ministry of Electric Power to improve the power
plants and the electricity
production.
The Myanmar governPHQW KDV DOVR LQYLWHG 86
HQHUJ\ UPV WR LQYHVW LQ
0\DQPDU RVKRUH QDWXral gas blocs while 15
blocs are slated to be up
for bidding in 2015.
The government has
DOVR LQYLWHG UPV IURP
)UDQFH 8QLWHG .LQJGRP
Singapore and Germany
WR IRUP SURWVKDULQJ
agreements within the energy sector. According to
the governments statistics as reviewed at a session of parliament, 4.14

billion cubic feet of natural gas had been produced

during 2011-2012 FY to
2013-14 FY, of which 78
percent was exported and
18 percent went to domestic consumption.
The government had
privatized the import and
distribution of fuels in
June 2010 and since then
the Ministry of Energy
has been overseeing imports of state-owned entities while private companies and traders have
been importing mainly
gasoline and diesel.
Myanmar Summary

jrefrmEdkifiHwGif &if;ESD;jrKyfESHrI
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jrefrmEdik if &H if;ES;D jrK yEf rHS aI umfr&Sif
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e,l;a,mufNrdKUwGif usif;yonfh
jref r mh & if ; ES D ; jrKyf E S H r I a qG ; aEG ; yG J
tawGUtBuHKudk ajymonf/
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a&;? obm0"mwfaiGUwl;azmfa&;
vkyif ef;awGtjyiftajccHtaqmuf
ttHkeJ Y c&D;oGm;vkyfief;awGrSm
&if;ESD;jrKyfESHc sifMuwm od&w,f/
'gayrJh vuf&t
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f xd tar&d
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ao;w,f}}[k ,if;u ajymonf/
vQypf pfxw
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vwf w avmwGif tar&d u ef
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wGif;vQyfppf"mwftm;xkwfvkyf

a&;twGu f enf ; ynmyd k i f ; ESi hf

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ay;vsu&f o
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f ikd f
Edkif&ef zdwfac:xm;NyD; vmrnfh
2015 ckESpftwGif; a&eHvkyf
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vdkolr sm;udk csxm;ay;oGm;rnf
jzpf a Mumif ; od & onf / vwf
wavmwGif jyifopf ? tar&duef ?
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rS ukrPDrsm;udk a&eHESihfobm0
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tusKd ; wl v k y f u d k i f E k d i f & ef zd w f
ac:xm;onf h E S p f p Of o bm
0"mwfaiGUxkwfvkyfrI? jynfy
wif y d k Y r I E S i f h j ynf w G i f ; ok H ; pG J r I y
rmPrsm;taejzifh 2011-2012
b@ma&;ESpf rS 2013-2014
b@ma&;ESpf txd ESpfpOfy srf;rQ
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onf/
2010 ckESpf ZGefvu pwifum
pufokH;qDwifoGi f;jzefYjzL;jcif;
vkyfief;rsm;udk EdkifiHydkifu@rS
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&Get
f ygt0if "mwfqED iS 'hf ZD ,fqD
rsm;udk t"duxm;NyD; wifoGif;cJh
aMumif; od&onf/

YCDC always scrutinized

construction
carefully
from the beginning of the
building process. Not anymore.
Since 2011, over 200
construction and engineering companies have
had their licenses revoked

by YCDC.
The total rate of construction has been increasing downtown, but
even more so on the outskirts of the city. The
majority of illegal construction occurs on the
outskirts.

aeY p Of x k w f o wif ; pmrsm;wG i f

vnf; aMunmxm;NyD; vufawGU
aeYwGif NrdKUawmfcef;r jyKvkyf ta&;,laqmif&Gufaejcif;rsm;&Sd
onfh rD',
D mawGUqHkyw
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Yk jyif &efuek f
eD,mtaqmufttHXk me XmerSL; xyfraH jymonf/xdt
NrdKUawmfpnfyifom,ma&;aumf
OD;oef;aX;u ajymonf/
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csurf ahJ qmufvyk af ewJh taqmuf aqmufvkyf&m aemufaz;vrf;
ttHkawGudk xdxda&mufa&muf Mum;rsm;wGif wdk;csJUaqmufvkyf
ta&;,laqmif&Gufaeygw,f/ cGifhr&Sdovdk Oya' aemufaz;
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tJ ' D t wG uf taqmuf t tH k aemuf a z;vrf ; Mum;r&S d ygu
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tcsKd U ta qmuf t tH k a wG u rnfjzpfaMumif; azmfj yxm;onf/
]]tckrSxNyD; w&m;pGJwmawG
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trsm;
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I UG I wufvm? uefxdkufuvnf;
onftxd ta&;,loGm;rnfudk xyfNyD;ray;Ekdif? tcef;0,fxm;

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wmaygh/ pNyD;aqmufvkyfcGifhjyK
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taqmuf t tH k a qmuf a wmh
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ppfaq;wm/ tckpepfu tJ'Dvdk
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oef;OD;u ajymonf/ vuf&t
Sd csed f
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tcef ;,l uef xd k uf pepf jzif h
taqmuf t tHk a qmuf vk yf rI
rsm; ydkrdkrsm;jym;vmvsuf&SdaeNyD;
&efukefNrdKUwGif;rsm;tjyif NrdKUpGef
rsm;wGifyg aqmufvkyfrIr sm;vm
aMumif; od&onf/

)URPSDJH<&'&
have pre-ordered apartments will lose their money. And theres a question for YCDC. Why they
did not scrutinize this
cinstruction at an earlier
stage? In 1992 or 1993
)URPSDJH<&'&

)URPSDJH<DQJRQ6WRFN
RSHUDWH WKH UVW VWRFN H[change in Myanmar. The
parties have been engaged
in discussions since May
29, 2012, when the MemoUDQGXPRI8QGHUVWDQGLQJ
regarding the establishment of a stock exchange
and the cooperation for
support in the development of the capital market
in Myanmar was concluded, The companies said in
a joint statement.
The plan is to launch
the exchange sometime
LQ  +RZHYHU WKHUH
is some question about
whether the exchange can
open smoothly.
Cambodia, Lao and

Vietnam have had stock

markets for 2 years, but
they have been largely
unsuccessful. Myanmar
is just starting from nothing right now. The public
needs to participate in
the stock market. It is too
early to judge how this will
play out in the long term.
VDLG 8 3H 0\LQW GLUHFWRU
general of CB Bank.
After establishment of
the stock exchange, the
Securities and Exchange
Commission, like security
companies, will issue underwriter, dealer, broker
and consultant licenses.
The exchange will be located at the former buildLQJRI8QLRQ%DQNRQ6XOH
Pagoda Road.

)URPSDJH<DQJRQ6WRFN

pmcsKyfudk vufrSwfa&;xdk;cJhMu
onf/
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&efukefpawmhtdyfcsdef;tusKd;wl
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ac:qdkrnfjzpfNyD; jrefrmusyfaiG
32 bDvD,Ht&if;teSD;&SdaMumif;
V\HI D PLI  I D WN \ I S N ?
xkwfj yefcsuft& od&onf/
pawmhtdyfcsdef;wnfaxmifNyD;
ygu aiGwdkufpmcsKyfESifh &S,f,m
a&mif;0,fa&;qdkif&maumfr&Sif
onf tjcm;aom aiGwdkufpmcsKyf
ESifh &S,f,mukrPDrsm;uJhodkYyif
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cGifhponfh vdkifpifrsm; xkwfay;
oGm;rnfjzpfonf/

LOCAL BIZ

11
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Register Foreign Companies - MIC

Zin Thu Tun

tion, he said.
According to statistics
from MIC, Singapore
based companies make
up the plurality of foreign companies investing
in Myanmar, although
many of those companies
are shell companies of an
$PHULFDQSDUHQWUPHQtering Myanmar via Singapore.
Foreign investment is
expected to reach $5 billion by the end of the year,
mainly in electricity generation, manufacturing,
tourism, telecommunication and property, according to MIC.
Myanmar Summary

jynf y &if ; ES D ; jrK yf E S H r I r sm; vm

a&mufjyKvkyf&mwGif jynfwGif;&Sd
jrefrmEdkifiHom;trnfcHum 0if
a&muf&if;ESD;jrKyfESHrIrsm;udk apmifh
Munfhta&;,loGm;rnf[k jrefrmh
&if;ESD;jrKyfESHrIaumfr&Sif TefMum;
a&;rSL;csKyfOD;atmifEdkifOD;u ajym
cJhonf/
&efukefNrdKU jrefrmh&if;ESD;jrKyfESHrI
aumfr&SifHk;cef; 'DZifbmv
twGi;f u jyKvyk cf o
hJ nfh jynfwGif;
rD ' D , mrsm;ES i f h a wG U qH k y G J w G i f

Brent Lewin/Bloomberg

oreign investments
fraudulently
registered using the
name of Myanmar citizens will be monitored
and dealt with accordLQJWRODZ8$XQJ1DLQJ
Oo, secretary of Myanmar
Investment Commission
(MIC) said during a meeting with the local press at
0,&VKHDGRFH
This might raise questions about when the actions will be taken, but we
have to weigh the consequences as there are citizen employees (in such
businesses). We will soon
take necessary measures,
8$XQJ1DLQJ2RWROGWKH
reporters.
The practice can be
traced back to the previous government when
foreign investors were not
allowed to do business
on private land and in
industrial zones, and had
to deal with the highly
PDQLSXODWHG RFLDO H[change rate of six kyats
to one dollar to exchange
their incoming funds.

This situation resulted in

the registration of foreign
businesses using Myanmar citizens as a front to
DFFHVV WKH EHQHWV GHnied to the foreigners and
transfer money through
illegal channels.
MIC had issued an announcement in 2012 that
businesses interested to
reposition into foreign investments are invited to
consult with MIC and will
not be subject to any punishment.
30 companies masquerading as local companies
have turned into open
foreign investments since
the announcement had
been issued, but some
companies are still operating under the names
RI 0\DQPDU FLWL]HQV 8
Aung Naing Oo said.
This registration fraud
has been a serious problem. MIC has received
many proposals from local companies since it was
established in 2011-12,
but after rigid scrutiny
half of them turned out to
be foreign businesses usLQJ 0\DQPDU LGHQWLFD-

Foreign companies have operated under local names for years.

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onf/
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csufcsif;udkifwG,fzdkYu udk,fhEdkifiH
om;vkyfom;awG&Sdaeawmh olwdkY
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&if;ESD;jrKyfESHrIrsm;u EdkifiHtwGif;
odkY vma&muf&if;ESD;jrKyfESH&mwGif

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jzpfonf[k od&onf/
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aumfr&Siu
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rItoGifajymif;vJygu ta&;,l

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ajymif ; csif o l r sm;taejzif h
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trdefaY MumfjimpmtrSwf 1^2012
jzif h xk w f j yef a Munmch J o nf /
tqdyk gtrdefaY Mumfjimpmxkwjf yef
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OD;atmifEdkifOD;u ajymonf/

LOCAL BIZ

12

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

YCDC Introduces Online Services

Phyo Thu

Myanmar Summary

n a bid to introduce
FRVWHHFWLYHDQGWLPH
saving
procedures,
Yangon City Development Committee (YCDC)
has recently announced
its launching of an e-government system - online
services to process the applications for businesses
permits and services via
LWV RFLDO ZHEVLWH ZZZ
ycdc.gov.mm.
The plan to apply information technology in
YCDCs procedures in line
with the planned E-Government scheme a network to cover and coordinate all the government
departments- has been
prepared since early 2013.
Some services, including
land grants and ownership assessments, have
already been launched
online.
The newly established
online services will handle a range of services, including mapping through
WKH'HSDUWPHQWRI8UEDQ
Planning and Land Management, processing of 12
business licenses through
the Administration Department and 14 services
including
processing
EXLOGLQJ EXLOW FHUWLFDWH
(BBC) through the online

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a&;aumfrwDwiG f vkyif ef;vdik pf if
rsm;ESifh 0efaqmifrrI sm;aqmif&u
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&ef E-government pepfjzifh
w w w. y c d c . g o v. m m wGif
0ifa&muf vkyfief;rsm; aqmif
&GufEdkifawmhrnfjzpfaMumif; od&
onf/ tqdkygtGefvdkif;0efaqmif
rIvyk if ef;rsm;aqmif&u
G &f eftwGuf
vGefcJhonfh 2013 ckESpf ESpfqef;
ydkif;uwnf;u pwifaqmif&Guf
cJhjcif;vnf;jzpfonf/
xdkodkYvkyfief;rsm;aqmif&Guf&m
wGif NrdKUjypDrHudef;ESifhajr,mpDrH
cef Y c G J r I O D ; pD ; XmewG i f Online
Land Form Submission
System ajryHkul;jcif;ESifhtjcm;
A screenshot of the YCDC website.

building form submission

system under the Engineering Department.
Additionally, geological data of 15 townships
in Yangon will be stored
in the Geographic Information System (GIS) and
they will be provided with
the online services, head
RIXUEDQSODQQLQJ87KDQ
Lwin Oo, said.
Currently we are only
at the initial phase it will
take some time to complete. The current focus
is to provide internet ac-

FHVV WR WRZQVKLS RFHV

that are not connected.
We will also observe the
GDWDWUDFDVSDUWRXUHIforts to implement the egovernment system, said
8 &KR 7XQ $XQJ FKDLU
of YCDCs e-government
committee.
South Dagon township
is selected for the pilot
project to provide online
one-stop services, which
will be initiated in January 2015.
+RZHYHUVKLIWLQJWRRQline services will not be

0efaqmifrIoHk;rsKd;? pDrHa&;&mXme
wGif vkyfief;vdkifpiftygt0if
smooth as the application vdi
k pf if 12 rsK;d yg0ifonfh Online
processes at the YCDC
Business License System ?
involve many documents
D mXmetwGuf (Online
and procedures, said a tif* sief ,
broker who aids business- Building Form) taqmuf
men with applications ttHkNyD;pD;aMumif; oufaocH
procedures who wished vufrw
S af vQmufxm;jcif;ponfh
not to be named.
0efaqmifrI 14 rsKd;udk tGefvdkif;
Currently the online system has handled 12,944 0efaqmifrItjzpf aqmif&GufEkdif
cases, including mapping awmhrnf[k od&onf/
and inspecting land deed
xdkYjyif NrdKUe,faygif; 15 NrdKUe,f
titles, according to YCDC. GIS ..............
+RZHYHURQOLQHSD\PHQW
pepfajymif;vJum tGev
f ikd ;f rSwpf
of taxes is still not feasiqifh 0efaqmifrIay;Ekdif&efaqmif
ble.
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pnfyifom,ma&;aumfrwD N rdKUjy
pDrHcefYcGJrIXmerSL ; OD;oef;vGifOD;
u ajymonf/
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Financing Problems Preventing

Housing Development- YCDC
Phyo Thu

in Yangon City Development area.

Myanmar Summary

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vmjcif;aMumifh tdrf&mopfazmf

Wai Linn Kyaw

lthough ten to
twenty thousand
of apartments are
currently being constructed around Yangon, there
is still a housing shortage
due to the lack of a sufFLHQW V\VWHP WR FRQQHFW
apartment renters with
banks, said an advisor
from YCDC.
Yangon City Development Committee (YCDC)
is carrying out the housing projects which can
SURYLGH DRUGDEOH DSDUWPHQWV VDLG 8 .\DZ /DWW
advisor of Yangon City
Development Committee
(Central).
YCDC is currently overseeing the construction of
5000 apartments in total.
They sell the apartment
with lucky-draw system. Other departments

are also implementing

housing projects of their
RZQ8.\DZ/DWWVDLG
Yangon, which had total of 80 square miles in
1974, has currently expanded its jurisdiction to
VTXDUHPLOHV,WVSRSulation, having already
exceeded 5 million, is facing a housing shortage for
low and medium income
families, worsened by rising rent.
The Department of
+XPDQ 6HWWOHPHQW DQG
+RXVLQJ
'HYHORSPHQW
recently suspended the
housing projects as the
project jointly carry out
by the government and
private sectors fail to meet
the hygiene standards.
During last month,
YCDC introduced the online application system
for construction permit to
allow more construction

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REGIONAL BIZ

13
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Thailand Looking to Japan

for Railways Revamp
Pairat Temphairojana

The three routes combined would cover roughly 1,500 km, according to
Reuters calculations.
Thailand agreed to use
&KLQHVH UPV DQG WHFKnology to build a 734-km
standard-gauge dual track

railway from Nong Khai

on Thailands border with
Laos, to its ports and industrial zones in the east.
Another line would link
Bangkok with the central province of Saraburi
about 108 km away.

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A train in Thailand.

Chinas Shadow Banking Adapts and

Grows as Rules Tighten
Jake Spring

ew players in
Chinas shadow
banking sector are
growing rapidly despite
attempts to clamp down
on opaque lending, taking
advantage of a regulatory
anomaly to prosper but
also raising the risks of
a build-up of debt in the
slowing economy.
Authorities have sought
to rein in the riskiest elements of less-regulated
lending after a series of
defaults, including a 4 bilOLRQ \XDQ  PLOOLRQ
credit product backed
by Evergrowing Bank in
September, because of the
danger such debts could
pose to the health of the
worlds
second-largest
economy.
And
a
government
measure created in 2011
to capture shadow bankLQJ WRWDO VRFLDO QDQFLQJ
(TSF), shows some success, with shadow banking contracting in the
second half of 2014 to

roughly 21.9 trillion yuan

($3.5 trillion), according
to a Reuters analysis of
central bank data.
But that fails to capWXUH DV PXFK DV  WULOOLRQ \XDQ  WULOOLRQ
RI QDQFLQJ PRVWO\ FUHated in the past two years
E\ UPV RYHUVHHQ E\ WKH
China Securities Regulatory Commission (CSRC)
rather than the banking
regulator, according to a
Reuters calculation based
on third-party statistics.
:KHQ LQFOXGLQJ WKDW nancing, shadow banking
is roughly equivalent to
more than 45 percent of
loans in the conventional
banking system.
We can observe this,
but we dont have concrete statistics, so were
unclear on the scope,
said Zeng Gang, director
of the banking department at the Chinese Academy of Social Sciences, a
think tank that advises
the central government.
Shadow banking is
therefore harder to regu-

Myanmar Summary

Bloomberg

hailand is talking to Japan with

a view to building
three rail routes in the
Southeast Asian country,
a Thai minister said, the
latest move by its military government to kickstart long-delayed plans
to modernise its aging rail
network.
Thailand wants three
new lines connecting the
capital, Bangkok, with cities in the east, west, north
and northeast and Japan
had expressed interest
in undertaking the work,
said Thai Transport Minister Air Chief Marshal
Prajin Junthong.
+LV
DQQRXQFHPHQW
comes after Thailand
signed a memorandum of
understanding with China to construct two sepaUDWHOLQHVRINP
miles) in the kingdom,
VWDUWLQJLQ
Were still in the pro-

cess of talks (with Japan).

It will be clearer after the
Japanese government has
QLVKHG LWV HOHFWLRQ DQG
discussion will be made
with both sides, Prajin
told reporters on the sidelines of a regional summit
in Bangkok.
An overhaul of Thailands rail network was
proposed long ago but
has yet to materialise. The
junta wants to start the
ball rolling as part of its
big infrastructure plans to
try to revive an economy
blighted by weak spending and exports.
Thailand has proposed
Japan builds two separate
east-west lines, one from
Mae Sot at the Myanmar border to Mukdahan
near the border with Laos
and another connecting
Kanchanaburi with the
industrialised province
of Rayong. A third route
would run from Bangkok
to the northern city of
Chiang Mai, Prajin said.

with Washington have

soured since a coup in
May.
Reuters

late, he said.
Indeed, the State Council called on the central
bank last December to
develop new statistics to
measure shadow banking.
In shadow bankings
new incarnation, brokerages and fund management companies can pool
retail investor funds or
invest funds already gathered by a bank, acting as
an intermediary rather
than the actual investor.
Chinas credit landscape is just simply evolving too quickly, so TSF
doesnt provide as comprehensive a picture as it
used to do, said Donna
Kwok, an economist at
8%6
Shadow banking, deQHG DV QRQEDQN FUHGLW
DQG REDODQFH VKHHW
bank lending, is an important part of banking systems around the world.
In China, it has helped
smaller, private companies access credit and offered investors better returns than bank deposits.

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sector are undeniable.
But it can also fund risky head of research at Z-Ben. jzpfonf/
There was next to nothor unproductive investtpdk;&taejzifhvnf; tqdkyg
ments, building up risks ing three years ago and
w&m;r0ifbPfvkyfief;? vlrIaiG
in the banking system. now you have 5, 10 trilThis is what authorities lion yuan from platforms aMu;vkyfief;rsm;udk zrf;qD;&ef
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are trying to tackle.
As the China Banking managing this kind of wGif pwifvkyfaqmifcJhNyD; 2014
Regulatory Commission business, Zhang said.
ckEpS 'f w
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Reuters
(CBRC) clamped down
bPfvkyfief;onf tMurf;zsOf;
on trust companies and
Myanmar
Summary
wkwf,Grf 21 'r 9 x&DvD
REDODQFH VKHHW OHQGing, the sector adapted to
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set management subsidi- &ef BudK;yrf;aeaomfvnf; 0if A[dkbPftcsuftvufavhvm
aries.
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units had more than tri- rl0g'rSm;,Gif;rIudk tcGifhaumif; twGif; vkyfief;rsm;rS jyKvkyfcJh
D H (a':vm
pled assets under man- ,lvkyfaqmifaeMuojzifh pD;yGm; onfh ,Grf 16 x&Dv,
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REGIONAL BIZ

14
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

India Looks to Sway Americans with

Nuclear Power Insurance Plan
Tommy Wilkes and
Sanjeev Miglani

QGLD LV RHULQJ WR VHW

up an insurance pool
to indemnify global
nuclear suppliers against
liability in the case of a
nuclear accident, in a bid
to unblock billions of dollars in trade held up by
concerns over exposure to
risk.
Prime Minister Narendra Modis government
is hoping the plan will be
enough to convince maMRU86FRPSDQLHVVXFKDV
General Electric to enter
the Indian market ahead
of President Barack Obamas visit.
8QGHUDQXFOHDUOLability law, nuclear equipment suppliers are liable
for damages from an accident, which companies
say is a sharp deviation
from international norms

that put the onus on the

operator to maintain
safety.
From the 1950s, when
WKH8QLWHG6WDWHVZDVWKH
only exporter of nuclear
reactors, liability has been
channeled to plant operators across the world.
Indias national law
grew out of the 1984
Bhopal gas disaster, the
worlds deadliest industrial accident, at a facWRU\ RZQHG E\ 86 PXOWLQDWLRQDO 8QLRQ &DUELGH
Corp which Indian families are still pursuing for
compensation.
7KH ODZ HHFWLYHO\ VKXW
out Western companies
from a huge market, as
energy-starved
India
seeks to ramp up nuclear
power generation by 13
times, and also strained
86,QGLDQUHODWLRQVVLQFH
they reached a deal on
nuclear cooperation in

2008.
*(+LWDFKL DQ DOOLDQFHEHWZHHQWKH86DQG
-DSDQHVHUPV7RVKLEDV
Westinghouse
Electric
Company and Frances
Areva received a green
light to build two reactors each. They have yet
to begin construction several years later, according
to Indias Department of
Atomic Energy.
8QGHU WKH SODQ LQVXUance would be bought by
the companies contracted
to build the nuclear reactors who would then recoup the cost by charging
more for their services.
Alternatively, state-run
operator Nuclear Power Corporation of India
(NPCIL) would take out
insurance on behalf of
these companies.
Sinha said New Delhi
believed the insurance
plan was the best option

given how tricky changing

the law would prove, and
that the proposal should
be ready within the next
two months.
India wants to generate
 PHJDZDWWV IURP
nuclear sources within two
decades from the current
level of 4,780 megawatts,
even as other countries
shift away from nuclear
energy following Japans
Fukushima disaster.
One Indian company
said it was ready to return
to the 2,800 megawatt
Gorakhpur nuclear power
project in the northern
VWDWH RI +DU\DQD LW DEDQdoned, once the insurance cover is in place.
The insurance scheme
would convince Walchandnagar Industries Ltd,
which makes heat exchangers for reactors, to
restart supplying equipment for Gorakhpur,

managing director and

CEO G.K. Pillai told Reuters.
Moves to win over the
Americans coincide with
Russias push to build
more nuclear reactors in
India.
During
President
Vladimir Putins visit,
Russias state-owned Rosatom said it would supply 12 nuclear energy reactors for India over 20
years, following two it has
already built in the south
of the country. Reuters
Myanmar Summary

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The Great Wall of Jakarta

Bill Tarrant

wo weeks after his

narrow win in Indonesias
presidential election in July,
Joko Widodo, though still
months away from taking
RFHMXPSVWDUWHGDQHIfort to save Jakarta from
drowning.
Minutes of a July 25
PHHWLQJ ZLWK FLW\ Rcials and ministers from
the outgoing administration show that Widodo
endorsed the most ambitious feature of a plan that
had been on the drawing
boards for nearly two
years: a Great Sea Wall
in the shape of Indonesias national symbol, the
*DUXGDELUGRI+LQGXP\thology.
The
private
sector
would be the main acWRULQQDQFLQJWKH*UHDW
Sea Wall, whose total
cost could rise to $40 billion over three decades.
Widodo wanted the group
to quickly set a groundbreaking date.
Outgoing
President
Susilo Bambang Yudhoyono, wanting a signature
achievement to burnish
the legacy of his administration, obliged him.

The Great Sea Wall was

launched on Oct. 9 - two
weeks before Widodo was
sworn in.
The centerpiece of the
plan will be an outer seawall built on reclaimed
land several miles out in
Jakarta Bay, according
WR D QDO YHUVLRQ RI WKH
Master Plan reviewed by
Reuters.
A Waterfront City,
ZLWK RFH WRZHUV KRWHOV
and luxury housing, will
be built atop the seawall
complex, covering up
to 10,000 acres - nearly
half the size of Manhattan. Selling real estate on
the Giant Sea Wall would
EHWKHPDLQQDQFLQJYHhicle for the wall itself,
which would be completed by 2022.
Meeting that deadline
will be one of the most
challenging hydraulic civil works that has been carried out worldwide, the
Master Plan says.
7KH UVW SKDVH RI WKH
project is a $2 billion, 20mile inner seawall now
being built just behind
an existing wall that is
crumbling as it sinks into
WKH VHD 7KLV UVW SKDVH
which is supposed to be
completed by 2018, will

pay for new pumping stations and raise the level of

riverbank dikes throughout the city.
One of the most challenging features of the
plan is to convert Jakarta
Bay into a reservoir enclosed by the outer Giant
Sea Wall. New pumping
stations will pour water in
the reservoir from the rivers and canals now stagnating below sea level in
the city.
Planners envision the
reservoir one day becoming a sustainable source
of drinking water for the
FLW\ %XW UVW -DNDUWD
would have to build massive wastewater treatPHQW DQG ZDWHU SXULFDWLRQ SODQWV 8QWLO WKDW
happens, Jakartas rivers
and canals, among the
worlds most polluted,
ZRXOG VSHZ OWK\ ZDWHU
into the bay.
That scenario is one
of the main criticisms
of the Waterfront City.
Sceptics are afraid that
it would turn into a giant septic tank behind
the Giant Sea Wall, said
Victor Coenen, Indonesia
chief of Witteveen+Bos,
the Dutch engineering
DQG FRQVXOWLQJ UP WKDW

helped design the Giant

Sea Wall project.
Acting Jakarta Governor Basuki Ahok Tjahaja Purnama is one of
them. I honestly have
doubts about the Giant Sea Wall, he told an
audience of hydrologists
on Oct. 31. Flushing the
mud will be very problematic.
Reuters
Myanmar Summary

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15

REGIONAL BIZ

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

Thai Energy Giant PTT to Sell

Indonesia Palm Oil Business
Khettiya Jittapong

hailands PTT PCL

said it will sell its
palm oil business
in Indonesia for an undisclosed sum by June next
year, as the top Thai energy company moves to divest non-core operations.
Kalimantan
Thailand
Palm Pte LTD, a subsidiary of PTTs wholly owned
PTT Green Energy Pte
Ltd, will sell its 95 percent
holding of PT Mitra Aneka
Rezeki to PT Prasada Jaya
Mulia, the Thai energy giant said in a statement.
State-controlled
PTT
bought stakes in palm oil
plantations and processing operations in Indonesias West Kalimantan
region in 2008 as it expanded into environmentally friendlier sources of
energy.
It set up PTT Green Energy to buy the 95 percent
stake for $14.7 million in
February 2008. The Indonesian target is licensed
to cultivate 14,000 hectares of oil palm.

PTT is currently restructuring. It plans to sell its

27.22 percent stake in oil
UHQHU %DQJFKDN 3HWUROHXP 3&/ GLOXWH LWV 
percent holding in Star
3HWUROHXP 5HQLQJ &R
YLD D SXEOLF RHULQJ DQG
list its power unit on the
Thai bourse.
Reuters
Myanmar Summary

[GNLI(GNLIL+? PTT PCL onf

WLI
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PTT utjynft
h 0ydik q
f ikd af om
PTT Green Energy Pte Ltd

?YXIDWPXIFY
+ \N LI HIM]SIRQIK
Kalimantan Thailand Palm
Pte LTD RQI }LIZGN<\GNLITGNLI
aom PT Mitra Aneka Rezeki

?WSN 6IP PFNGLI(,HIXGN

PT Prasada Jaya Mulia xHodkY
a&mif;csrnfjzpfaMumif; od&onf/
PTT onf 2008 ckESpfwGif
tif'dkeD;&Sm; Kalimantan a'o
rS q D ; tk e f ; pdkufcif;rsm;udk0,f ,l
cJah Mumif; od&onf/

Investment Proposals in Thailand

to Exceed $24.3b in 2014
Kitiphong
Thaichareon and
Pairat Temphairojana

he value of proposed investment

in Thailand should
exceed 800 billion baht
($24.3 billion) this year,
beating a government tarJHW DQG UHHFWLQJ JUHDWHU
FRQGHQFH DIWHU D 0D\
coup ended unrest, the
army chief who launched
the coup said.
The latest value of investment
applications
ZDV  ELOOLRQ EDKW DQG
VR LW VKRXOG GHQLWHO\
surpass 800 billion baht
for the whole year, Prime
Minister Prayuth Chanocha, who stepped down as
army chief after the coup,
told an investment seminar.
That compares with a
700 billion baht target of
the Board of Investment
(BOI), which provides investment incentives.
In 2013, total net applications were worth about
1 trillion baht. Last year,

interest in investment has

been hit by prolonged political turmoil.
The army took power in
May saying it had to step
in to restore order and
EXVLQHVVFRQGHQFH
Prayuth said the economy was recovering and he
expected stronger growth
next year.
The economy has improved from a contraction
earlier this year. Its better but not that satisfying.
We hope next year will be
better, with growth of 3.5
percent to 4.5 percent, he
said.
This month, he said
he expected economic
growth of only 2 percent
to 3 percent next year.
Southeast Asias second-largest
economy
grew only 0.2 percent in
WKHUVWQLQHPRQWKV
Finance Minister Sommai Phasee said full-year
growth could be less than
1 percent due to weak
exports and slow public
spending. That would be
the slowest growth since

GHYDVWDWLQJ RRGLQJ RI

2011.
The BOI announced
strategies for next year to
encourage investors.
Among them will be
tax exemption of up to 8
years, and exemption of
import duty on machinery or raw materials for
industries that focus on
areas such as research
and development, electronics designs, aircraft
manufacturing and aircraft parts.
Tax incentives will also
be given to those investing in 20 provinces with
the countrys lowest per
capita income, four border provinces in the deep
south, and in the governments special economic
zones.
Reuters
Myanmar Summary

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Xiaomis India Smartphone Ban

Exposes Wider Patent Risk

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XP O -YI? Android One
toHk;jyKxm;aom wefzdk;enf;
SUZI]NHIUVP?D PLIWPXGN\LI
Xiaomi said in a state- grew 82 percent in the launch.
California Pizza Kitchen
Jeremy Wagstaff
In India, Xiaomi initial- jzwf a usmf vmEd k i f cJh o nf / xd k Y
in Mumbai to meet him, ment that it isnt easy third quarter, while China
to build up a patent port- expanded at a relatively ly imported 10,000 devic- aemuf wG i f r l quf o G , f a &;
he court order that he said.
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banned
Chinese
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100,000 to meet demand, Ericsson rSwifoGif;vmaom
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E\
in India has halted its braced us, he said.
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And then came the court
breakneck expansion into
the sales ban. It has char- Xiaomi tm; zkef;a&mif;csrI
the worlds fastest grow- order to stop selling, af- aomi has already been apologising to fans.
Rest assured that were WHUHGLJKWVIRXUWLPHVWR
ing major smartphone ter a patent infringement dogged by IP controver&yfqdkif;&ef trdefYcsrSwf vdkufNyD;
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Reuters
the start of a string of pat- equipment maker Erics- UPVPRVWO\RYHUFRQWHQW the situation, he wrote.
son. The ban will last until rights for its streaming TV Stay tuned for more inent challenges.
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Myanmar Summary
formation.
Xiaomi Technology only at least Feb. 5, when the service.
txd wm;jrpf c suf t ouf 0 if
In China, Xiaomi alAs its smartphone busistarted selling in India in Delhi court hears the case
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ness, already number one ready outsells Apple and
July and quickly became again.
Xiaomi
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But that is unlikely to in China, continues to Samsung Electronics in
the countrys fastest growing smartphone brand; be the end of the young grow, however, industry smartphones, and it be- rsm;a&mif;csjcif; &yfqdkif;xm;&ef ? DFJLIDTPLI\GNLIRQI UO\GNLI
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ticularly since two of its tober, though it is little
ing even low-cost smart- rights.
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Sources close to Xiaomi HUFHVW KDQGVHW ULYDOV known outside Asia.
phones running Googles
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rapidly the country had kets even played a role in larly hard on growth pros- in seconds. It sells only jzpfvmEdkifonf/
tdEd,ESifh ta&S Uawmiftm&SodkY
shaping Xiaomis strategy pects. In a country where online, and with minimal
taken to his brand.
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dozens of superfans to a es said.

INTERNATIONAL BIZ

16
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Top Firms Greenhouse Gas Emissions Rise,

Despite Call for Cuts
Alister Doyle

reenhouse
gas
emissions by the
worlds top 500
companies rose 3.1 percent from 2010 to 2013,
IDU R WKH FXWV XUJHG E\
WKH8QLWHG1DWLRQVWROLPit global warming, a study
showed.
7KH WRS  UPV E\
capitalisation accounted
for 13.8 percent of world
greenhouse gas emissions
and 28 percent of gross
domestic product in 2013,
according to the report,
drawn up by the information provider Thomson
Reuters and BSD Consulting, a global sustainability
consultancy.
Almost all of us use
products from these companies, said Tim Nixon,
Director of Sustainability at Thomson Reuters.
This is about transparency. We hope companies
will look at the report and
engage with their stakeholders to reduce emis-

sions.
A path set out last month
E\WKH81(QYLURQPHQW
Programme, intended to
limit global temperature
rises to 2 degrees Celsius
 )DKUHQKHLW DERYH
pre-industrial times, implied a 4.2 percent fall in
world emissions between
2010 and 2013.
Almost 200 nations
have set 2 degrees C as a
ceiling to limit the extra
GURXJKWV RRGV KHDWwaves and rising sea levels that scientists see as
the consequence of global
warming.
Governments will try to
ZRUN RXW D 81 FOLPDWH
deal in late 2015 at a summit in Paris to limit emissions of greenhouse gases,
which trap the suns heat.
The
top
corporate
greenhouse gas emitters
in 2013 were PetroChina
Co Ltd, China Petroleum
and Chemical Corp. and
steel maker ArcelorMittal, the report said.
Big companies with a

more than 10 percent

decline in emissions between 2010 and 2013
were led by ConocoPhillips , Valero Energy Corp
and Dominion Resources
Inc .
/DUJHUPVZKRVHHPLVsions rose more than 10
percent in the period were
led by the metals and mining group Glencore , Russias Surgutneftegas and
Exelon Corp. The data
came from businesses
themselves and estimates
from Thomson Reuters
Asset4.
John Moorhead, executive manager of BSD, noted that many of the top
500 companies, especialO\LQQDQFHLQIRUPDWLRQ
technology or telecoms,
had relatively low emissions.
But he said they could
KDYH D KXJH LQXHQFH RQ
emissions beyond their
companys borders in
their choice of suppliers.
Reuters

Budget Pressure Unlikely to

'HHFW,UDQIURP
Nuclear Goals
Mehrdad Balali

big oil price slide

will hurt Irans attempts to rescue
battered living standards,
but economic pain is unlikely to soften its stance
in nuclear talks or end
aid to allies such as Syria,
matters seen by its ruling
clerics as strategic priorities.
Economic misery due to
sanctions and mismanagement has been a reality
for years, and while social
VWUDLQV LQ WKH  PLOOLRQ
population are deep, the
clerics will seek to contain
them, say experts examining Irans budget plans for
2015.
The largest drop in oil
SULFHV VLQFH WKH  nancial crisis means more
budget pressure for the
OPEC member, already
bereft of tens of billions of
dollars in oil revenue due
to Western sanctions and
years of economic mismanagement.

And tougher economic

times may spur Tehrans
determination to end a
nuclear dispute and lift
sanctions that isolate it
from the global banking
system and deter most
foreign investors.
%XW VLJQLFDQW FKDQJHV
in Irans regional strategy
including its approach to
any nuclear deal are unlikely.
That is partly because
funds for security affairs come from Supreme
Leader Ayatollah Ali
Khamenei, not the govHUQPHQW+HDOVRGHFLGHV
nuclear policy.
Ali Vaez, of the International Crisis Group thinktank, said the oil price
fall would hurt, but was
unlikely to make Iran accept a nuclear deal that it
views as lopsided.
Irans support for its
allies in Iraq and Syria is
not a questions of means,
its a strategic necessity.
This is why neither the
fall of the rial in 2012 or

Myanmar Summary

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Reuters ESifh BSD Consulting
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wm0ef & S d o l a wG e J Y a qG ; aEG ; wd k i f
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rS ajymMum;cJhonf/
Myanmar Summary

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economic malaise in 2013
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for its Syrian and Iraqi al- ta&;ygrIrsm;jzpfonfh EsLuvD;
,m;aqG;aEG;rIrsm;udk aysmah ysmif;
lies.
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are negotiating to end a rdwfzufrsm;odkY taxmuftyHh
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nuclear goals. Tehran denies Western charges it is Ed k i f z G , f r &S d y g/ yd w f qk Y drI a Mumif h
pD;yGm;a&;xdcu
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seeking nuclear weapons.
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hani presented a cau- 6GDH1\'YO2'D RHIW0XP
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on.
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cent above this year, a real
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of 20 percent.
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placate security hard- ydwfqdkYrIrsm;ESifh ESpfaygif;rsm;pGm
liners, hoping they will vGJrSm;onfh pDrHcefYcGJrIrsm;aMumifh
indulge his bid to win
a&eHu@wGif a':vmbDvD,H
a nuclear deal and end
sanctions.
Reuters aygif;rsm;pGm vufvGwfqkH;IH;cJh&
Ny;D jzpfonf/

Russia Entering
Full-Fledged Economic Crisis,
says Ex-minister Kudrin
Darya Korsunskaya

ussias government has pushed the country into

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felt next year.
Kudrin -- a darling of investors who is credited with
building Russias $170 billion worth of sovereign wealth
IXQGVDGGHGWKDWVDQFWLRQVRYHU8NUDLQHQRWIDOOLQJ
oil prices, were primarily behind the collapse of the
rouble and warned that Russia risked seeing its debt
downgraded to junk status in 2015.
Today, I can say that we have entered or are entering
D UHDO IXOOHGJHG HFRQRPLF FULVLV 1H[W \HDU ZH ZLOO
feel it clearly, the former minister told a news conference.
The government has not been quick enough to address the situation ... I am yet to hear ... its clear assessment of the current situation.
Kudrin, one of few to criticise President Vladimir Putin, quit in 2011 in protest at proposals to increase defence spending.
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sanctions imposed following Russias annexation of
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be close.
Russia has been hit by what Economy Minister Alexei
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SULFHVVDQFWLRQVDQGDLJKWRILQYHVWRUVFDSLWDOPDGH
worse by a lack of structural reforms that means the
economy is overwhelmingly dependent on oil revenues..
*RYHUQPHQW RFLDOV KDYH WULHG WR PLQLPLVH WKH LPpact of sanctions on the country and its rouble currency
-- which plunged last week despite a hike in interest
rates to 17 percent. Putin has claimed external factors
like oil were the key culprit behind the countrys tough
times.
But on Monday Russia announced plans to impose a
heavy tax on grain exports since rouble volatility and
high global prices have caused exports to spike. Russian news agencies reported Prime Minister Dmitry
0HGYHGHYWROGDPHHWLQJZLWKRFLDOVWKDWWKHFRXQWU\
needed to hang on to its stocks.
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it had made a $7 billion debt repayment from its own
cash reserves, easing some investors worries, Russias
central bank said it would have to bail out mid-sized
Trust Bank with 30 billion roubles ($544.54 million) to
stop it going bankrupt.
Kudrin said falling crude prices only partly accounted
for the plunge in the rouble - which has fallen particularly steeply since autumn as concerns increased that
the sanctions would prevent Russian companies from
meeting debt obligations because they cannot access
Western capital.
Kudrin forecast a series of defaults among medium
and large enterprises, -- though banks were more likely
to be supported by the state -- which is likely to result
in rating agencies downgrading Russias debt to junk
status.
Reuters
Myanmar Summary

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aMumif;,cifb@ma&;0efBuD; Alexei Kudrin uajymMum;cJhNyD;vm
rnfhESpfwGifydkrdkjyif;xefonfhxdcdkufrIrsm;udkcHpm;&rnf[kowday;
ajymMum;cJhonf/
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&if;ESD;jrKyfESHol Kudrin onf Ukraine tay:ydwfqdkYrI? a&eHaps;EIef;
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INTERNATIONAL BIZ

17
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Nicaragua Announces Start of China-Backed

Canal to Rival Panama
Gabriel Stargardter

icaragua
announced the start
of work on a $50
billion shipping canal,
an infrastructure project
backed by China that aims
to rival Panamas waterway and revitalize the
economy of the secondpoorest country in the
Americas.
The
groundbreaking
was largely symbolic, as
work began on a road
designed to accommodate machinery needed to
build a port for the canal
on the Central American
FRXQWU\V3DFLFFRDVW

Nicaraguas
government says the proposed
172-mile (278-km) canal,
due to be operational by
around 2020, would raise
annual economic growth
to more than 10 percent.
The canal could also
give China a major foothold in Central America, a
region long dominated by
WKH 8QLWHG 6WDWHV ZKLFK
completed the Panama
Canal a century ago.
Construction of the new
waterway will be run by
+RQJ .RQJEDVHG +.
Nicaragua Canal Development Investment Co Ltd
+.1' *URXS ZKLFK LV
controlled by Wang Jing,

eDum&m*Gmtaejzifh yem;rm;
a&vufMum;tm; ,SOfNydKif&ef
ESifh tar&duwdkufwGif 'kwd,
tqif;&JqHk;Edik if t
H jzpfrS ek ;f xGuf
edkif&ef &nfrSef; wkwfEdkifiHrS
a little-known Chinese the year, he said.
Paul Oquist said feasiyHh ydk;um tar&d u ef a ':vm
telecom mogul well conMore than a year since it bility studies, including
nected to Chinas political ZDV UVW DQQRXQFHG WKH a McKinsey report that bDvD,H 50 ukefusrnfh a&vuf
elite.
project faces widespread H[SHUWVVD\ZLOOGHQHLQ- Mum;wnf a qmuf a &;tajccH
Flanked by Nicaraguan skepticism, with ques- WHUHVWLQQDQFLQJWKHFD- tqmufttkHpDrHudef;wpf&yfudk
President Daniel Ortega, tions still open about who nal, had been delayed by wevFmaeYu aMunmcJhonf/
who is a former Marxist ZLOO SURYLGH QDQFLQJ changes to the route and
tqdyk gqef;opfajymif;vJro
I nf
guerrilla leader, Wang KRZVHULRXVO\LWZLOODHFW would be ready by April.
tar&d
u
wd
k
u
f
t
v,f
y
d
k
i
f
;
Ed
kifiH
Jing said the tender for Lake Nicaragua and how
Oquist said the core
the preliminary design much land will be expro- QDQFLQJ ZRXOG FRPH ? \SG]GZIXUIGNZUID\Z*LI
of the project would be priated for it.
from public and private qdyfurf;wpfckwnfaqmuf&ef
RHUHG E\ WKH HQG RI WKH
Given how much this Chinese money, without twGuf vdktyfonfh pufypnf;
UVW TXDUWHU RI  E\ will cost, its hard to take giving a percentage.
rsm;xm;&Sd&ef 'DZdkif;qGJxm;onfh
which time an environ- a stance on whether it will
But he added that Nicak iG f vkyif ef;pwifvyk f
mental impact study happen or not until there is ragua is seeking inter- vrf;wpfcw
ko
f uJo
h kdY BuD;rm;onfh oauFw
ZRXOGDOVREHQLVKHG
a signal whether that mon- national funding and re- udi
By the end of the third ey is available or not, said jected the idea that China wpfckjzpfonf/ eDum&m*Gmtpdk;&
quarter, excavation work Greg Miller at consultancy will bankroll the project rS t qd k j yKxm;NyD ; ,if ; a&vuf
would begin, with a ten- ,+60DULWLPH
worth roughly four times
0XPRQI  UGNLI 
der for the design of the
Earlier,
Nicaraguan Nicaraguan gross domeslocks due by the end of presidential spokesman tic product.
Reuters uDvdkrDwm) &Sdrnfjzpfonf/

US Business Faces Game of Catch-Up

if Cuba Sanctions are Cut
Marc Frank and
David Adams

nternational
rivals
have a clear head start
LQ &XED EXW 86 FRPpanies could catch up
quickly if the economic
embargo that has kept
them away is dismantled
in a new era of cooperation between Washington
DQG+DYDQD
Cubas inhospitable regulatory environment under
communist rule has made
GRLQJEXVLQHVVGLFXOWDQG
costly for foreign businesses, limiting investment.
The domestic economy
is also small with low
salaries severely limiting
retail businesses and inefFLHQW VWDWHUXQ FRPSDnies a drag on productivity and growth.
Nevertheless,
hotel
companies such as Spains
0HOLD +RWHOV ,QWHUQDtional and Frances Accor,
Canadian miner Sherritt

International Corp, Britains Imperial Tobacco

and French beverage giant Pernod Ricard have
VXUYLYHGDQGSURWHG
Experts say the restoration of diplomatic reODWLRQV ZLWK WKH 8QLWHG
States and a gradual disPDQWOLQJ RI WKH 86 HFRnomic embargo could
open opportunities in areDV IURP QDQFLDO VHUYLFHV
and telecommunications
to agriculture and oil.
A foreign investment
law passed earlier this
year lowers taxes and
promises an improved
regulatory system, leading some potential investors to propose new projects to the Cubans.
When
Obama
announced the dramatic
SROLF\ VKLIW 86 FRUSRrations were quick to respond. Within minutes,
the phones started ringLQJ DW 0LDPL ODZ UPV
from clients seeking guid-

Myanmar Summary

ance on business opportunities.

:H KDG  YHU\ VLJQLcant clients ... Fortune 50
entities, call since Wednesday to start a Cuba conversation at a much more detailed and profound level,
said Pedro Freyre, the head
of the Cuba practice at
Akerman, a large MiamiEDVHGODZUP
Those clients work in
telecoms, construction,
food, light manufacturing, and pharmaceuticals, and all asked about
the legal implications of
Obamas move, potenWLDO UHVLVWDQFH LQ WKH 86
Congress - and in Cuba and logistical challenges.
They want to know
can foreigners own land
in Cuba, how do you get
landing rights, how do
you get docking rights,
what is the power and
water supply like, what
are the work force rules?
Freyre said. Companies

want to know what are

the rules of the game? Its
more strategic thinking
WKDQVSHFLFSURSRVDOV
There could be plenty
RI RSSRUWXQLWLHV IRU 86
UPV LI &XEDV JRYHUQment is ready to open up
the economy. The pace of
change, however, is unclear.
President Raul Castro
is already implementing
market-style
economic
reforms but is moving
gradually and warns that
Cuba will stick to its socialist principles.
As part of the talks beWZHHQ+DYDQDDQG:DVKington, Obama said Cuba
decided to give its citizens
more access to the Internet. Its government has
been reluctant to expand
access in the past and it
is not clear how much it
is prepared to do now, but
there is clearly a potential
market.
Cuba has one of the low-

est Internet penetration

rates in the world, barely
5 percent, and highly restricted broadband Internet access and WiFi.
With all of the pent up
demand in Cuba, I think
companies would line
up around the block to
get in to provide service
in Cuba, said Doug Madory, director of Internet
analysis at Dyn Research
LQ 1HZ +DPSVKLUH ZKR
monitors Cuba.
Mobile operators with
H[SHULHQFHHOGLQJDQHWwork in the developing
ZRUOGZRXOGEHDJRRGW
They will bring the equipment they need. Reuters
Myanmar Summary

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vmapcJhonf/

INVESTMENT & FINANCE

18
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

The Government Dreams of Electric Trains

Phyo Thu

the government upgrade

the circular train lines.
The total expenditure for
the project is estimated to
cost $2 billion.
Myanmar Summary

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c&D;wdpk D;eif;rIut
kd ajccH vQypf pf
&xm;ajy;qGJEdkif&ef pDpOfoGm;rnf

Zarni Min Naing

lthough the government has previously expressed

intentions to introduce
electric trains, the high
cost renders the project
impossible for the time
being, according to an ofFLDOIURP0\DQPDU5DLOways.
We regard operating a
short-distance train along
the strand road in downtown a priority over the
electric train project. GetWLQJ VXFLHQW HOHFWULFLW\
DQGPHHWLQJWKHQDQFLDO
requirements has proven
challenging. So we consider this a hypothetical
SURMHFW 8 7LQ :DL DVsistant general manager
from the state-run enterprise said.
The enterprise is preparing to upgrade the
circular train lines to international standards to
attract more passengers.
A new train line has been
launched connecting Pan-

VRGDQ WR +WDZOLNZDH LQ

Ahlone township along
the waterfront of Yangon.
Based on the number of
commuters on the new
track, the plan to retroW WKH OLQH ZLWK HOHFWULF
trains will be considered
at a later date.
According to the survey done by the electric
department of the rail
enterprise, $1.2 million
is needed to build an
electrical sub-station, $4
million is needed to procure 4 train engines and
$0.924 million to implement the power distribution system for the trains.
The new train track emSOR\V WZR WUDLQV ZLWK 
seats each that will run 14
round trips daily.
Myanmar used electric
trains in 1994 and 1995
but the plan to deploy
them again is held back
E\ LQVXFLHQW DFFHVV WR
electricity.
Meanwhile Japan International Cooperation
Agency (JICA) is helping

There have been some efforts to upgrade Yangons public transport system.

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ADB Trims Growth Forecasts for Developing Asia,

Says Cheaper Oil Good for Most
Karen Lema

Morley J Weston

he Asian Development Bank slightly

trimmed its growth
forecast for developing
Asia for this year and
next, but said sliding
prices for oil should help
economies in the region
push through with growth
reforms.

In its update to the

2014 outlook, ADB said
developing Asia was now
H[SHFWHGWRJURZSHUcent this year, a tad below
LWV  SHUFHQW IRUHFDVW
in September. Growth
LQ  ZDV VHHQ DW 
SHUFHQWIURPSHUFHQW
previously.
While growth in the
UVWWKUHHTXDUWHUVRIWKLV

year was somewhat softer

than we had expected,
declining oil prices may
mean an upside surprise
in 2015 as most economies are oil importers,
said ADB Chief Economist Shang-Jin Wei.
The ADB cut its 2014
and 2015 growth forecasts for China to 7.4
percent and 7.2 percent,

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respectively, from the tors as low commodity
2 &mcdik Ef eI ;f tjzpf avQmch scefrY eS ;f
7.5 percent and 7.4 per- prices tend to make their
cent estimates made in real exchange rates more xm;onf/
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September, due to falling competitive.
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VSLOORYHU HHFWV RQ WKH has fallen 49 percent to cef Y r S e f ; wmxuf tenf ; i,f
EHORZDEDUUHOZKLFK edrfhu scJhNyD; vmrnfh 2015 ckESpf
construction sector.
Reforms brought by means big savings for
twG u f u awmh pD ; yG m ;a&;
Indian Prime Minister Southeast Asias large oilNarendra Modi will help importing economies - vkyfief;trsm;pk[m a&eHwifydkY
his country grow 5.5 per- Thailand, Philippines and rIj zpfwJhtwGuf a&eHaps;usqif;
cent this year and, if they Indonesia.
rI[m taygif;vuPmaqmifwhJ
,QDWLRQ LQ WKH UHJLRQ tHtm;oifhzG,f&mwpf&yftjzpf
are extended, should lift
JURZWK WR  SHUFHQW in 2014 is now forecast to
rSwf,lEdkifygw,f}}[k ADB ?
be lower at 3.2 percent in
next year, the ADB said.
Southeast Asia is ex- 2014 and 3.5 percent in pD ; yG m ;a&;ynm&S if t BuD ; tuJ
pected to grow slower 2015, compared to the 3.4 Shang-Jin Wei u ajymMum;
than previously thought percent and 3.7 percent cJhonf/
in 2014 and 2015 due to seen in September.
tdEd,0efBuD;csKyf Narendra
Reuters Modi
a slackening in economies
?M\.M\LIDM\PLIY-D 
in the region. The region
Myanmar Summary
U
V
P
RQI

FN(6SIWZ*LI(GNLIL+?
is seen growing at 4.4 perWP 6]*+81]G.D E3I? FN(6SI pD;yGm;a&;udk5'r 5 &mcdkifEIef;
cent in 2014, down from a
ES
i
fh aemufESpftwGuf pD;yGm;a&; ZGNZXIDSF-K1\'}LIZGN<WDHM]LIK
SUHYLRXV HVWLPDWH RI 
percent, and 5.1 percent wdk;wufrIcefYrSef;csufudk tenf; xyfrHwdk;jrifhEdkifyguvmrnfhESpf
in 2015 instead of 5.3 per- i,fjyifqifcJhNyD; a&eHaps;usqif; wGif 6 'r 3 &mcdkifEIef;txd
cent.
U,RQI D
R?ZGNZXIU,M\.M\LI jrifhwufvmEdkifaMumif; ADB
Falling global oil prices
present a golden oppor- ajymif;vJa&;rsm;udk wdk;jrifh&ef rS ajymMum;xm;onf/
ta&S Uawmif tm&S E d k i f i H r sm;
tunity for importers like tultnDay;EdkifrnfjzpfaMumif;
Indonesia and India to ajymMum;cJhonf/
twGufrl a'owGif;pD;yGm;a&;
reform their costly fuel
2014 ckESpftwGuf xyfrH YN\ILHIUVP?WPHQIU,D0XPLIK
subsidy programs, Wei xkwfjyefcJhonfh cefYrSef;csufwGif 2014 ESifh 2015 wGif ,cif
said. On the other hand,
ADB rS zGHUNzdK;qJ tm&Staejzifh cefYrSef;xm;onfxuf aES;auG;
oil exporters can seize the
opportunity to develop ,ckESpfwGif 6 'r 1 &mcdkif rnf[k cefYrSef;xm;onf/
their manufacturing sec- EI e f ; wd k ; wuf rI[k cef Y r S e f ; cJ h N yD ;

19
Myanmar Business Today
January 1-7, 2015

mmbiztoday.com

INVESTMENT & FINANCE

20
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Myanmar Opening Banking Doors

Michael Nesbitt

oreign banks are

about to make a return to Myanmar
after an absence of more
than 50 years, in a move
that is intended to support foreign direct investment (FDI) but may also
pressure domestic lenders
to raise their game.
At the beginning of
October, Myanmar announced it was granting preliminary approval
for nine foreign banks to
commence limited operations starting 2015, marking a resumption of such
VHUYLFHV IRU WKH UVW WLPH
VLQFHWKHFRXSDOEHLW
in a more restricted capacity. All nine were chosen from a pool of more
than 40 lenders with repUHVHQWDWLYH RFHV LQ WKH
country, more than half of
which opened within the
past three years, an indication of the enthusiasm
foreign banks have for the
Myanmar market.
The banks, all from the
$VLD3DFLF UHJLRQ KDYH
been given 12 months to
ODXQFK+RZHYHUDVODLG
out, the scope for their
business will be limited
and therefore, initially
they will not be a direct
threat to the business interests of Myanmars exLVWLQJ  GRPHVWLF OHQGers.
8QGHUWKHWHUPVVHWRXW
in October, the new entrants into the market will
RQO\EHDEOHWRRHUZKROHsale banking products and
VHUYLFHV WR IRUHLJQ UPV
and local banks. They will
be allowed to provide ky-

at-denominated loans to
domestic companies only
through a partnership
arrangement with a Myanmar registered lender,
with interest rates set by
the central bank.
While they will be authorized to accept deposLWV DQG PDNH ORDQV LQ 86
dollars and the euro to
foreign businesses, the
banks will not be able to
engage in normal retail
banking, a restriction
seen as limiting their possible impact on monetary
movements.
The focus of foreign
banking operations towards business activity
- especially that of overVHDV UPV RSHUDWLQJ LQ
Myanmar - is seen as a
measure to further promote foreign investment
in the country by facilitatLQJ QDQFLDO VHUYLFHV IRU
those companies and by
creating a banking environment with an international basis.
While the opening up
of the banking sector has
generally been welcomed,
there are some concerns
indigenous lenders could
be swamped by their better resourced and more
developed
competitors
from overseas if they are
granted full access to the
market too quickly. Joe
Barker-Bennett, a consultant with the privately
owned Tun Foundation
Bank, said the early entry
of foreign lenders into the
marketplace could overwhelm local banks if they
are not given time to prepare for increased levels
of competition.

If you allow foreign

banks in too early it will
cripple local banks, he
told OBG. It will be like
JKWLQJ 0XKDPPDG $OL
in his prime with your
arms tied behind your
back.
+RZHYHU WKRXJK WKHUH
will likely be domestic
EDQNV WKDW VXHU GXH
to the open market approach favoured by the
government and central
bank,
Barker-Bennett
said the increased competition could also prompt
some Myanmar banks to
step up their game.
There will be winners
and losers among local
banks. There will be those
that modernize their systems and those that get
left behind, he said.
Opportunities for expansion lie ahead for local
banks in terms of the client base and the broader
economy, which the International Monetary Fund
(IMF) forecast in October
would expand by 8.5% in
2015. Retail banking also
RHUV RSSRUWXQLWLHVZLWK
data from the International Finance Corporation (IFC), an arm of the
World Bank, showing
only some 20% of Myanmars citizens have access
WR IRUPDO QDQFLDO VHUvices.
Any growth in the personal banking segment
may take time to develop.
$ MRLQW 81 &DSLWDO 'HYHORSPHQW )XQG81 'Hvelopment
Programme
report issued earlier this
year estimated that 95%
of the adult population
earned less than $10 a

day, while only 5% had

bank accounts.
The report adds that the
majority of the countrys
P SRSXODWLRQ ZRXOG
EHQHW IURP WKH VSUHDG
RI PLFURQDQFH VHUYLFHV
at the grass roots level,
rather than large-scale
banking. Myanmars rural regions, where some
70% of adults live and
work, are in particular
under-banked,
despite
some services provided
by state-owned lenders
and the limited number of
PLFURQDQFHLQVWLWXWLRQV
Opportunity for expansion are present in the
market given the high
OHYHO RI LQIRUPDO QDQcial services, which imply potential demand for
regulated services. It is
unlikely that major overseas banks would move to
expand into rural regions
even if granted permisVLRQ WR RHU IXOO VHUYLFHV
till such time as the impact of Myanmars strong
economic growth spreads
beyond major centres, or
foreign clients operating
in these areas push for
ZLGHUQDQFLDOVHUYLFHV
In the meantime, domestic banks may look
WR LQFUHDVH WKHLU SUROH
in non-urban areas. With
government targets set at
reducing poverty levels
IURPWKHUDWHRI
WRE\WKHHQGRI
potential for a solid rise
in incomes and demand
IRU QDQFLDO VHUYLFHV LQ
regions beyond the major
cities exists.
Lenders also need to
work hard to change the
perception of the banking

industry amongst the citizens of Myanmar, Aung

Thin Win, Vice chairman
of the Asian Green Development (AGD) Bank,
a smaller domestic bank,
told OBG. The banking
crisis of 2003 reduced
SHRSOHVFRQGHQFHLQWKH
banking sector. It is up
to the banks to reinstall
WKHLUFRQGHQFH
Michael Nesbitt, Editorial Manager for Myanmar at Oxford Business
Group (OBG) is in charge
of producing sector speFLF UHVHDUFK LQ 0\DQmar. Based in Yangon
he works alongside a
team of analysts to produce OBGs Flagship anQXDO UHSRUWV ZKLFK RHU
unique insights coupled
with a comprehensive
review of investment opportunities in key growth
sectors.
The views and opinions
expressed here are the
authors own and do not
QHFHVVDULO\ UHHFW 0\anmar Business Todays
editorial opinion.

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Myanmar Summary
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cJhNyD; 1962 tmPmodrf;cJhonf onf/

Myanmar Firm Picks Puma Energy as

Jet Fuel Distribution Partner
Aung Hla Tun

yanmars stateowned Myanma

Petroleum Products Enterprise (MPPE)
has chosen Puma Energy
Group from a shortlist of
IRXU UPV DV LWV SDUWQHU
to distribute jet fuel, as
demand rises from new
airports and a boom in
tourist arrivals.
MPPE is the sole distributor of jet fuel in the
Southeast Asian country,
providing 28 million gal-

lons of fuel at 11 airports.

MPPE will soonest sign
an agreement with the
tender winner while arrangements will be made
to jointly carry out import
and distribution of aviation fuel at the remaining
airports in the country
under the joint-venture
agreement, MPPE said
in a statement.
Puma Energy Group Pte
Ltd operates in more than
40 countries and posted
turnover of $12 billion in
2013, according to its web-

site. Its jet fuel distribution

business services 41 airports in Central and South
America and in Africa.
Demand at Myanmars
three international airports in Yangon, Mandalay and the capital,
Naypyitaw, is expected
to climb as tourism and
business grows amid liberal reforms underway after nearly a half century of
isolation under army rule.
Myanmar expects to reFHLYH YH PLOOLRQ WRXULVWV
in 2015, up from three

million targeted in 2014,

compared with two million in 2013 and one million in 2012.
Thai energy giant PTT
which along with its subsidiaries accounts for
12 percent of Thai stock
market capitalisation, was
the reserve winner for the
Myanmar jet fuel tender,
MPPE said.
Reuters
Myanmar Summary

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od&onf/

21
Myanmar Business Today

INVESTMENT & FINANCE

January 1-7, 2015

mmbiztoday.com

China Gives $3bn to Mekong Region,

Eyes Trade and Transport
Engen Tham, Martin
Petty, Aukkarapon
Niyomyat and Amy
Sawitta Lefevre

SDUWV RI RXU HRUWV WR

upgrade China- ASEAN
cooperation ... we are
ready to work with the
YH FRXQWULHV WR EXLOG D

new framework to deepen

cooperation and bring
the GMS comprehensive
partnership to a new level, Li said.

Rao Aimin/ Xinhua

KLQD KDV RHUHG

more than $3 billion in loans and
aid to neighbours Cambodia, Vietnam, Myanmar,
Thailand and Laos to improve infrastructure and
SURGXFWLRQ DQG WR JKW
poverty, state media reported.
Chinese Premier Li KeTLDQJ VDLG WKH RHU LQcluded $1 billion for infrastructure, $490 million
for poverty alleviation
DQGELOOLRQLQVSHFLDO
loans for Chinas production capacity export, Xinhua news agency said.
During a speech to the
IWKVXPPLWRIWKH*UHDWer Mekong Subregion
(GMS) Economic Cooperation in Bangkok, Li also

SOHGJHG  PLOOLRQ WR

dredge waterways along
the Mekong River to prevent natural disasters.
These are important

Regional leaders hold hands at the Greater Mekong Subregion Summit in Bangkok.

Foreign Company Registration

Fraud Serious Problem- MIC
Zin Thu Tun

oreign investments
fraudulently
registered using the
name of Myanmar citizens will be monitored
and dealt with accordLQJWRODZ8$XQJ1DLQJ
Oo, secretary of Myanmar
Investment Commission
(MIC) said during a meeting with the local press at
0,&VKHDGRFH
This might raise questions about when the actions will be taken, but we
have to weigh the consequences as there are citizen employees (in such
businesses). We will soon
take necessary measures,
8$XQJ1DLQJ2RWROGWKH
reporters.
The practice can be
traced back to the previous government when
foreign investors were not
allowed to do business
on private land and in
industrial zones, and had
to deal with the highly
PDQLSXODWHG RFLDO H[change rate of six kyats
to one dollar to exchange
their incoming funds.
This situation resulted in
the registration of foreign

businesses using Myanmar citizens as a front to

DFFHVV WKH EHQHWV GHnied to the foreigners and
transfer money through
illegal channels.
MIC had issued an announcement in 2012 that
businesses interested to
reposition into foreign investments are invited to
consult with MIC and will
not be subject to any punishment.
30 companies masquerading as local companies
have turned into open
foreign investments since
the announcement had
been issued, but some
companies are still operating under the names
RI 0\DQPDU FLWL]HQV 8
Aung Naing Oo said.
This registration fraud
has been a serious problem. MIC has received
many local proposals
since it was established
in 2011-12 but under our
rigid scrutiny half of them
turned out to be foreign
businesses using MyanPDU LGHQWLFDWLRQ KH
said.
According to statistics
from MIC, Singapores
companies make up the

plurality of foreign companies investing in Myanmar. Some of those

companies are associate
companies of an AmeriFDQ SDUHQW UP HQWHULQJ
into Myanmar via Singapore.
Since the rise of the present government to power
in 2011, foreign investments have boomed and
$4.107 billion has been
poured into the country
in 2014-15 FY as of October 2014-15. The number
is expected to reach $ 5
billion by the end of the
year, mainly in electricity
generation, manufacturing, tourism, telecommunication and property, according to MIC.
Myanmar Summary

vuf&Sd 2014-2015 b@m

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+H VDLG &KLQD SODQQHG

to export high-level production capacity in electricity, telecommunications, steel and cement to
its neighbours on regional
transportation
routes,
Xinhua reported.
Li is in Thailand attending a two-day summit of
leaders of Mekong River
region countries, the biggest international gathering in Thailand since its
military seized power.
&KLQD ZLOO QDQFH SURMHFWV E\ RHULQJ VSHFLDO
loans, currency swaps in
cross-border transactions
and by allowing a role for
private enterprises, Li
said.
More than $120 billion
has been promised by
China since May to Africa,
Southeast Asia and Central Asia as Beijing tries
to present a softer, more
cooperative side to the
world following months
of tension over territorial
issues and other problems.
Well create new levels of industrial cooperation. China has become
the most important trade
partner in the sub region and our investment
will increase. . . We have
every reason to draw on
each others strengths, Li
added.
China said it would
EXLOGDQNPUDLOQHWwork in Thailand and buy
two million tonnes of its
rice.
The project could be a
boon for Thai trade and
tourism and strengthen
Chinas strategic foothold
in a country that has seen
its traditionally strong
WLHVZLWKWKH8QLWHG6WDWHV
cool since a military coup
in May.
China will be responsible for the construction
and development of the
rail network and Thailand
will take part in preparing the groundwork for
construction, Thailands
transport minister, Air
Chief Marshal Prajin Junthong, told reporters.
7KH UVW OLQH ZLOO EH D
734-kilometre standardgauge dual track railway
stretching from Nong
Khai on Thailands border
with Laos, to its industrialised eastern seaboard.
China has provisionally
agreed with Laos to build

a railway from Kunming

through Laos, with the
aim of connecting with
Thailand.
China will also develop
another,
133-kilometre
rail track linking the central province of Saraburi
to Bangkok, about 108
kilometres away. Construction would begin in
3UDMLQVDLGReuters
Myanmar Summary

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22
Myanmar Business Today
January 1-7, 2015

mmbiztoday.com

23
Myanmar Business Today

PROPERTY & REAL ESTATE

January 1-7, 2015

mmbiztoday.com

<&'&3ODQV$RUGDEOH+RXVLQJ2Q2XWVNLUWV
Phyo Thu

is to help the poor attain

homeownership.
7KH DRUGDEOH KRXVing projects, jointly developed with private
investors, will see constructions of six-storey
buildings with eight units
per storey where each
unit will have the space
RIWRVTXDUHIHHW
and be valued around K10
million each.
Myanmar Summary

vmrnfh 2015-2016 b@m

a&;ESpftwGif;'*HkNrdKUopfNrdKUe,f
ES i f h a&T j ynf o mNrd K Ue,f w d k Y w G i f
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ajyajy0,fEdkifzdkY wefzdk;oifwifh
td r f & mawG udk quf v uf azmf
aqmifoGm;rSmvnf;jzpfygw,f/
'Dvdka&mif;cswJhtdrfcef;awGrSm
trSefwu,faexdkifEdkifwJholawG
vufxJudka&mufzdkY a&mif;csoGm;
rSmjzpfwJhtwGuf aps;upm;jyef

Zarni Min Naing

ousing
units
worth around K
10 million each
will be developed in Yangons outskirt townships
of Dagon Myothit townships and Shwepyithar
WRZQVKLSLQVFDO
\HDUDFFRUGLQJWRDQRcial from the Yangon City
Development Committee
(YCDC).
We will continue deYHORSLQJ WKH DRUGDEOH
housing to help people
who dont own a home to
be able to buy one. As this
housing project targets
those who will actually
live in them, we will monitor to ensure these accommodations dont end
up in the hands of price
manipulating
speculaWRUVVDLGWKHRFLDOZKR
asked not to be named.
The homes will be sold
under a lottery system,
which will draw from individual applications for
housing. A national housing plan is also being de-

YHORSHGWKHRFLDOVDLG
The new housing deYHORSPHQW ZLOO DGG 
housing units in East
Dagon Myothit townVKLSXQLWVLQ6RXWK
Dagon Myothit township,
1,909 in Dagon Seikkan
township and 1,200 in
Shwepyithar township,
increasing the total numEHU RI DRUGDEOH KRXVLQJ
units in Yangon Region to
QHDUO\  LQ 
FY.
As the plan is aimed at
lower-class people, it has
to take their needs into
DFFRXQW VDLG 8 .R .R
+WZHIURP7DZ:LQ&RQstruction Co.
+HFRPSODLQHGWKDWIRUHLJQ GHYHORSPHQW UPV
are granted land for construction projects in the
FRXQWU\ ZKLOH ORFDO UPV
are struggling to secure
ODQGV DQG SHUPLWV +H
also suggested that transparency and competition
should be promoted to efIHFWLYHO\IXOOOWKHRULJLQDO
SXUSRVH RI WKH DRUGDEOH
housing projects, which

Yangon is attempting to recover from a housing shortage.

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DTPXI Y N \ I D XN U 3' 2 X _
OD;udkudkaxG;u ajymonf/

China Issues Property Registration Rules

to Aid Anti-Graft Drive
Lu Jianxin and
Pete Sweeney

Stephen Shaver/Bloomberg

hina issued rules

requiring real-estate owners to register their holdings with

authorities, a major step

LQWKHJKWDJDLQVWRFLDO
corruption that should
make it harder for property speculators to evade
regulations.
8QWLO QRZ &KLQD KDV

China is in the midst of a anti-corruption campaign.

had no such registration

requirement, an absence
that has let some people
use property as an opaque
vehicle to hide assets from
authorities.
The rules, taking ef-

fect on March 1, are a key

step in creating a nationwide property database.
They were published by
the State Council, Chinas
cabinet-level
political
body.
All real estate assets land, water areas as well
as houses, forests and the
like - will be subject to
this set of rules, the announcement said.
The rules apply to the
UVWWLPH
UHJLVWUDWLRQ
changes of ownership as
well as property transfers,
ZULWHRVDQGDVVHWIUHH]ing, among other things,
it said.
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China needs about three
years to fully establish a
XQLHG UHJLVWUDWLRQ V\Vtem of real estate, and
about four years to run a
XQLHGUHJLVWUDWLRQLQIRUmation management platform, which will support
WKH FRXQWU\V VFDO DQG
QDQFLDOUHIRUPV
Industry experts have
said that the rules should
IRUFH FRUUXSW RFLDOV WR
come clean about properties purchased with illgotten gains.

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Myanmar Summary
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But publication of the
rules came later than exSHFWHG WKH\ VDLG UHHFWing heavy resistance from
local governments and
other insiders.
While information on
property ownership is already collected in some
form by authorities, experts said the current record-keeping system for
residential property is not
consolidated or compreKHQVLYHPDNLQJLWLQVXFLHQW WR HHFWLYHO\ PRQLtor the housing market.
Chinas only housing
FHQVXV ZDV GRQH LQ 
and its economic censuses have so far not covered
housing surveys. Reuters

PROPERTY & REAL ESTATE

24
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Mon Factory Complex to be

Built 90 Miles From Thilawa
Zin Thu Tun

WHUZD\8+OD6KHLQWROG
Myanmar Business Today.
Meanwhile the existing
Mawlamyine industrial
zone has seen reduced
operations because the
weight limit of the Attaran bridge that lies on the
way to the zone across the
Thanlwin River is posing a major hurdle for the
RZ RI JRRGV GLVFRXUDJing industrialists from
setting up operations in
the zone.

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factory
complex
is under development on 300
acres of land in Kyaut Tan
village in Mawlamyine
township of Mon state
and slated to be opened in
early May 2015, according
to the Mon State Chamber
of Industry.
This complex is aimed
at the small business
RZQHUVZKRFDQQRWDRUG
to build in larger industrial zones. It also aims to
contribute to the development of local SMEs. But it
will not be as extensively
developed as the indusWULDO]RQHV8+OD6KHLQ
chair of the chamber, told
Myanmar Business Today.
The complex will house
corrugated zinc roof sheet
factories, drinking water
plants, gold processing
plants, rubber product
factories and food fac-

tories, along with other

small and medium industries.
The owners of the land
in the complex, who are
currently farmers, are allowed to sell their land
freely while investing
businesses will assisted in
securing land deeds under their names, the Mon
State Chamber of Industry said.
The businesses that
want to access the land
in the complex will have
to pay additional K 17
million per acre to the
state complex development committee which is
to cover the cost of land
OOLQJ URDG SDYLQJ LQstalling water supply and
electricity supply for their
respective operation sites,
8+OD6KHLQVDLG
This location is convenient for the businesses
as it is only 90 miles away
from the Thilawa Special
Economic Zone via wa-

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Cuba Property Claims, Yielding Pennies,

May Spur Talks
David Glovin and
Toluse Olorunnipa

Adalberto Roque/Bloomberg

LWK WKH 86 DQG

Cuba moving to
normalise relations and perhaps end a
half-century trade embargo, the impoverished CarLEEHDQ QDWLRQ FDQ DRUG
to pay Americans whose
assets it nationalised after
the 1959 revolution may-

A street scene in Havana.

be 2 percent of the value

of the seized property.
Thats why Cuban and
86 QHJRWLDWRUV DUH OLNHO\
to search for other ways
to compensate companies including Coca-Cola,
which lost $27 million
in machinery and real
estate, and individuals
such as Carolyn Chester,
whose family lost an 80acre farm on what was

then known as the Isle of

Pines.
Id rather be paid a fair
settlement over a period
of time than pennies on
the dollar in one lump
sum, Chester said. I
know the Cuban people
are poor, so maybe we can
work something out intelligently.
President Barack Obamas surprise announce-

ment last week that the

86 ZLOO VHHN WR HVWDEOLVK
diplomatic ties with Cuba
and ease economic barriers resurrected an issue
that had largely faded
from public view in the
decades since Fidel Castro grabbed power and
nationalised
foreignowned assets.
7KH86UHFRJQLVHVPRUH
than 5,900 claims against
Cuba stemming from the
expropriation of property owned by Americans
in the aftermath of the
revolution, according to
the Foreign Claims Settlement Commission, an
arm of the Justice Department. The claims were
worth about $1.8 billion
at the time; today, they
total about $7 billion with
interest.
Patrick Borchers, another Creighton law professor and the reports
principal
investigator,
said the best estimate
LVWKDW&XEDFDQDRUGWR
pay maybe 2 cents on the
dollar in hard currency
to resolve claims. Returning seized assets, like

warehouses, factories and

farms, may be even harder since many no longer
exist.
People are just going
to have to recognise the
reality of the current situation, Borchers said in
an interview. Its really
complicated.
The Creighton team
VXJJHVWVWKH86DQG&XED
could create a tribunal
to referee compensation
demands. Two decades
ago, such a tribunal resolved claims of Americans who lost property in
Irans revolution. Claimants with losses under
$250,000 received full
payment plus interest, according to the settlement
commission.
For Cuba, such a tribunal might reward claimants with development
rights or distribution licenses instead of cash,
Borchers said.
Iran had money because of oil, and Cuba
doesnt really, although
LWGRHVKDYHVRPHVLJQLcant natural resources,
Borchers said. Bloomberg

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AUTOMOBILE

25
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Yangon Busses to Join Under Single Company

Tin Mg Oo

pany requires time, stakeholders say.

 7UDF MDPV LQ <DQgon are caused not only
by buses. Irresponsible
private vehicles and taxis
are also to be blamed. It
is true that buses are racing each other to get more
passengers. Even with
rising prices in Yangon,
bus fares have not been
raised. They should consider making bus fares reHFW WKH SUHVHQW SULFHV
said a bus owner from the
No. 105 bus line.
But commuters also
complain that most of the
buses running in Yangon
ask for higher fares than
the standards set by Ma

Zarni Min Naing

he plan to transform
the
independent
bus lines running in
<DQJRQ WR D XQLHG SXElicly traded company will
be implemented in three
to six months from now,
said Dr Maung Maung, an
advisor to the Ministry of
Commerce.
The announcement was
made at the press conference after the workshop
regarding the issue at the
&RPPHUFH 2FH LQ <DQgon.
In other countries (the
public transportation) is
handled by public companies. Buses dont race

each other to compete

for business. The companies guarantee the workers families well-being
through set salaries so
that they can drive safely, he said.
The incorporation of
the public company will
be followed by the BRT
(Bus Rapid Transit) system, a highway bus system where a lane will be
UHVHUYHG VSHFLFDOO\ IRU
buses, for which 11 routes
have been planned. The
budget for the public
company will be requestHG LQ WKH  VFDO
year, he said.
+RZHYHUWKHWDVNRILQcorporating a public com-

+WD 7KD WKH VXSHUYLVRU\

committee for motor vehicles.
There are almost no
buses that accept K50,
which is the lowest standard fare for short distances, said one commuter.
Incorporating a public
company will not solve
the problems and continuous development plans,
so systematic feasibility
surveys need to be preSDUHG VDLG 8 :LQ $XQJ
FKDLU RI 8QLRQ RI 0\DQmar Federation of Chambers of Commerce and InGXVWU\80)&&,
Many bus owners are
against the plan as they
view the incorporation of
many bus lines with numerous bus owners into
a single system can create
obstacles to the current
operations.
The governments recent method of placing
concrete blocks to separate the right-most lane
of the downtown roads
as bus lanes will provide
short-term which can
cause complications in
the long term, as broken
busses can obstruct the
lane for a long time, a
WUDQVSRUWDWLRQ VWD IURP
the Western District Bus
Division said.
$FFRUGLQJ WR 0D+WDThas statistics, over
 EXVHV IURP RYHU
350 bus lines are running
on 17 routes in the Yan-

gon region, transporting

over 2.3 million commuters every day.
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Yangon To Continue Car Imports

*RYW2SHQWR6XJJHVWLRQVRQ7UDF
Tin Mg Oo

said Dr. Soe Tun, chair

of Myanmar Automobile
Manufacturers and Distributors Association.
Since the government
launched changes in the
automobile import policy
LQ   PL[HG
XVH YHKLFOHV DQG 
taxi cabs have been imported according to the
statistics of the Ministry
of Commerce, while 80
percent of the imported
vehicles are being driven
in the Yangon region.
The government has alORZHGFDUVKRZURRPV
to open- 170 in Yangon,
12 in Mandalay and 4 in
Naypyitaw- including 14
showrooms that sell new
cars from multinational
automakers
including
Toyota, Nissan, Chevrolet, Ford and Jaguar. Of

Zarni Min Naing

n light of the rumours

that automobile import policy would be
changed to ease Yangons
ZRUVHQLQJ WUDF VLWXDWLRQ 8QLRQ 0LQLVWHU IRU
&RPPHUFH 8 :LQ 0\LQW
said car imports will not
be halted.
The minister assured
the auto traders during a
meeting with car importers and the Myanmar Automobile Manufacturers
and Distributors Association.
We will not cancel car
import permits. Everyone is happy that any
citizen over 18 years old
is allowed to import cars.
But we are open to suggestions to ease the transportation problem in Yan-

gon, he said.
Before the changes regarding the automobile
import policy were implemented, cars were imported through permits
granted to sailors and to
emigrant workers and
also through the Foreign
Ministry and Labor MinLVWU\ +RZHYHU ZLWK WKH
new changes, any citizen
over 18 years can import
automobiles by opening a
foreign currency account.
Just before the meeting, we talked with
showroom
managers,
auto makers, accessories
manufactures and auto
traders and none of them
wants the car imports to
be banned. It is true that
ZH DUH IDFLQJ WUDF MDPV
and more systematic enforcements are needed,

the showrooms approved,

51 have not yet started opHUDWLRQVDIWHUPRUHWKDQ
months.
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26
Myanmar Business Today

AUTOMOBILE

January 1-7, 2015

mmbiztoday.com

Police Clamping Down on Noisy Autos

Kyaw Min

Myanmar Summary

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od&onf/
taemufydkif;cdkif&JwyfzGJUrSL;Hk;

Zarni Min Naing

joint task force

conducting
a
crackdown campaign against rule-breaking sport cars and cars
equipped with sound effect exhausts has seized
87 vehicles since the campaign was launched on
December 5, according to
the Western District PoOLFH+HDG2FH
The held vehicles are
being inspected if they
DUH RFLDOO\ UHJLVWHUHG
Police Lieutenant Colonel
Win Kyi told Myanmar
Business Today. Vehicles
that have licenses will be
returned to the owner afWHUWKH\IXOOOOHJDOREOLJDtions but vehicles without
licenses will be appropriated as state property
while the owners will have
to face penalties.
We are later going to
discover machine shops
WKDW LQVWDOO VRXQG HHFW
exhausts and deal with
them. We are conducting
the crackdown campaigns
almost every day and in-

spection the arrested vehicles if they are licensed,

Lieutenant Colonel Win
Kyi said.
Yangon Region Police Force and the TrafF 3ROLFH DUH MRLQWO\ XQdertaking the arrests as
the sport cars and power
exhaust-equipped
cars
cause public disturbance
and damage the rule of
law, he said.
We have found out that
most of the arrested cars
have licenses. We will ofFLDOO\ GLVFORVH WKH QXPbers later. Now just a few
days after the crackdown
was launched the number
of sport cars and power
exhaust-equipped cars on
the streets of Yangon has
fallen a great deal. We will
push up the enforcement
measures, said Police
Lieutenant Colonel Lin
+WXW IURP WKH WUDF UXOH
enforcement squad.
The majority of cars
were seized in the beginning of December, as
drivers have become more
aware of the campaign.

Cars are seen on Mindamma road.

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w,f / zrf ; qD ; rI t &S d e f t [k e f ukd
wdk;jrifhvkyfaqmifrSmyg}}[k ajym
onf/

Yangon To Squeeze Vehicle Imports

Zin Thu Tun

Zarni Min Naing

tarting this yea,r the

Ministry of Commerce will not issue
import permit applications for cars sitting in
port, only to those which
have a registered showroom or storage space,
said Dr. Maung Aung, advisor for the Ministry of
Commerce.

Yangon Regional government discussed the

issue and came to the
decision yesterday. This
applies to everyone, including those who live in
condominiums, companies and organisations.
We decided to add these
restrictions as there are
too many vehicles in the
city due to the government allowing the import

Cars are seen outside Pioneer Auto Showroom.

of automobiles.said Dr.
Maung Aung.
Additionally,
starting from January 201,
the ministry will not issue import permits to
individuals who import
automobiles
without
proper licenses. Instead,
the authority will issue
the licenses within three
months of application,
VDLG87KHW+WZHWKH'L-

rector of the automobile

inspection group.
This is because the importers apply for the license after they imported
the automobiles jam the
port with the automobiles, he said.
This doesnt mean we
cease the import permits.
We just dont issue permits to those individuals who have imported
cars without a license.
We decided to make this
announcement to deter
those who import the automobiles without license
and then they apply after
the automobiles reach
WR WKH SRUW VDLG 8 7KHW
+WZH
To import autos, the
authorities currently give
permits valid for three
months, and the license
holders can extend their
permit for another three
months. There will be no
permit extension in 2015.
Currently, the automobile importers often apply
for import license after
the vehicles reach to the
port and use the port as
an automobile showroom.
According to the authority, they take action

with the customs law to

those automobiles which
were imported without
the permit or beyond the
permit term.
Besides, setting the CIF
value for the automobiles
at the port might take an
extended perios of time,
as it requires calculating
the charges for port according to the car model,
taxes, and application
fees for Inland Transport
Authority and fees to the
banks according to the
rate set by the Ministry of
Commerce.
Myanmar Summary

2015 ckESpfrSpwif jynfyrS

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tBuHay; a'gufwmarmifatmif
u Myanmar Business Today
odkY ajymonf/
,if;tjyif vmrnfh 2015
ckEpS f Zefe0g&DvrSpwifum jynfy

rS qdyfurf;odkY a&muf&Sdvmaom
armfawmf,mOfr sm;tm; oGi;f ukef
vdkifpifrsm;udk xyfrHxkwfay;
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ajrjyifppfaq;a&;tzGJU TefMum;
a&;rSL;OD;oufaxG;u Myanmar
Business Today odkY ajymonf/
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eygu taumufcGefOya't&
'PfaMu;ay;aqmifjcif;?ta&;,l
cH&rnfjzpfaMumif; od&onf/

27

IT & TELECOM

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

Alibaba Took Down 90 Million Fake Products Ahead of Its IPO

Lulu Yilun Chen

EHU VDLG LW VSHQW 

million from the beginning of 2013 through last
month to block counterfeit products and boost
consumer protection.
The strategy is part of
Alibabas plan to build its
reputation now that the
company is larger in market value than General

Nelson Ching/Bloomberg

libaba
Group
+ROGLQJ
/WG
which faced scrutiny for selling counterfeit goods on its websites,
said it removed 90 million listings that may have
breached
intellectualproperty rights.

The fake product listings

were taken down across
Alibabas
e-commerce
platforms through September this year, Chief
5LVN 2FHU 3ROR 6KDR
said at a press conference
LQ +DQJ]KRX WRGD\ $OLEaba, which raised a record
$25 billion in an initial
SXEOLFRHULQJLQ6HSWHP-

Alibaba is trying to clean up their act.

Electric Co. and Procter

& Gamble Co. controlling
the sales of fake and pirated goods will be crucial
in maintaining credibility
with investors and limiting risks of lawsuits.
Selling
counterfeits
has been one of the key
criticisms that Alibaba
has faced, said Vanessa
Zeng, an analyst at Forrester Research Inc. in
Beijing. Even though the
companys shares have
done well, it doesnt mean
that Alibaba isnt aware of
the risks down the road.
Chinas largest e-commerce company, based
LQ +DQJ]KRX KDV JDLQHG
 SHUFHQW VLQFH LWV ,32
compared with a 0.9 percent decline in the NYSE
Composite Index.
$OLEDEDV HRUWV WR
JKW FRS\ULJKW LQIULQJHment are part of a larger
legal issue in China. The
country is host to a number of markets known for
prominent and extensive availability of counterfeit merchandise, the
2FH RI WKH 86 7UDGH
Representative said in a
February report. It cited
Beijings Silk Market and
Guangdongs Zengcheng

International Jeans Market, where vendors set up

stalls, as examples.
The fact that Alibaba
has a system set up to
raise complaints about
counterfeit products is an
improvement compared
with the other on-theground shops, Zeng said.
Alibabas most popular
platforms are Taobao and
Tmall.com, which connects consumers to retail
brands. The platforms
dont sell merchandise
themselves and make most
of their sales from commissions and advertising.
To safeguard against infringements, vendors are

required to make deposits with Alibaba to ensure

their products are genuine, allowing buyers and
sellers to rate each other
and helping consumers
get refunds.
Alibaba was removed
IURPWKH86JRYHUQPHQWV
Notorious Markets list in
7RKHOSJHWRWKDW
list, Alibaba hired James
Mendenhall, a former
general counsel for the
8675 XQGHU 3UHVLGHQW
George W. Bush, to aid
lobbying in Washington
and help in talks with the
music and movie industries, Alibaba said then.
Bloomberg

Myanmar Summary

rSpwifz,f&mS ;cJjh cif;jzpfaMumif;

0uf b f q d k ' f r S w pf q if h u k e f
ypnf; twka&mif;cscho
J nfhtwGuf
ppfaq;rIcH,lae&onfh Alibaba
Group Holding Ltd rS
}LI  ZG N < W DHM]LI K 3UO \ G N L I F * L I K
azmuf z suf x m;onf h yp n f ;
trsKd;tpm; oef; 90 udk pm&if;
rS z ,f x k w f x m;aMumif ; ajym
Mum;cJhonf/
uk e f y p nf ; t wk p m & if ; udk
Alibaba ? e-commerce
rSwpfqifh ,ckESpf pufwifbmv

&KLHI 5LVN 2IFHU 3ROR

Shao rS [efusKd;wGif jyKvkyfcJh

onfh owif;pm&Sif;vif;yGJwGif
ajymMum;cJhjcif;jzpfonf/
ueOD;trsm;ydkifjyKvkyfrIwGif
pHcsdefwif tar&duefa':vm
25 bDvD,H&&SdcJhonfh Alibaba
onf 2013 ckESpftpydkif;rSp
,cifvtxd ukefypnf;twk
rsm;tm; wm;jrpfydwfyif&efESifh
pm;okH;oltumtuG,fay;a&;
udk wdk;jrifh&ef tar&duefa':vm

URHIRN+S*-F-KRQI

Line Names Idezawa as Next CEO

of Instant Message Service
Grace Huang

lion users. Morikawa had

previously said Line was
targeting 500 million to
 PLOOLRQ XVHUV E\ WKH
end of the year, and he
planned to double the
number to at least 1 billion next year.
Line began its free messenger app in June 2011
after the earthquake
in northeastern Japan
knocked out telephone
services, according to its
website. The company
has added features such
as games, comics, free
voice and video calling,
photo and video sharing,
and tie-in apps including
a camera.
Bloomberg

aMumif; aMunmcJhonf/
vuf &Sd vk y f i ef ; yd k i f ; qd k i f & m
t&m&SdcsKyf Idezawa taejzifh
XNU3
?
' XUPDK SVX*XR
I N< G FV-8[L* I
rIudk apmifhMunfhvkyfaqmifcJhNyD;
jzpfaMumif; Line U6 }LI?
xkwfjyefcsufwGif xnfhoGif;
0bfqdk'frS azmfjycJhonf/
Morikawa WDHM]LIK }LI?
pmcsKyfukefqkH;csdefwGif &mxl;rS

EkwfxGufrnfjzpfNyD; CEO ?
tBuHay;tjzpf ukrP
w
D iG f quf&Sd
aernfjzpfaMumif;udv
k nf; xkwf
jyefc sufwGif azmfjyxm;onf/
awmifudk&D;,m;tGefvdkif;&SmazG
a&; Naver Corp., rS ydkifqdkif
onfh Line onf vuf&SdwGif
EdkifiHaygif; 230 rS tokH;jyKol
D\JLI RHI  6G1\' RN+S*-RO
rsm;udk kyfykHESifh upm;p&mrsm;

tGefvdkif;rSwpfqifh a&mif;cs
tusKd;tjrwfr sm;&&Sv
d su&f o
dS nf/
Line ? 6IPUVPXGN V\HI
ESifh tar&duefwdkYwGif ueOD;
a&mif;cs&ef qkH;jzwfcJhNyD;aemuf
pufwifbmvwGif Naver rS
Line udk ,ckEp
St
f wGi;f trsm;ydik f
jyK vk yf OD ; r n f r [k wf aMumif ;
aMunmcJhonf/

Myanmar Summary

V\HI(GNLIL+? YORGWUVPTN+
toifhokH;pmwdktyvDau;&Sif;
Line Corp., rS vuf&Sdtvkyf
trIaqmifcsKyf Akira Morikawa
rwfvwGif &mxl;rS qif;onfh
WFJZ*LI }LI?DH PXGN Takeshi
Idezawa rS qufcHrnfjzpf

Bloomberg

ine Corp., operator

of Japans mostpopular
instant
messaging
application,
said Takeshi Idezawa
will take over as chief exHFXWLYHRFHUZKHQ$NLUD
Morikawa steps down in
March.
Idezawa, currently the
FKLHI RSHUDWLQJ RFHU
has overseen the companys expansion into a
global service, Line said
in a statement on its website today. Morikawa will
leave at the end of his
contract and stay with the
company as an adviser to
the CEO, it said.
Line, owned by South
Korean search portal
Naver Corp., has 170 million monthly active users in 230 countries and
makes money by asking
smartphone customers to
pay for teddy bear icons
and games. In September,

Naver said it wont take

Line public this year after
previously considering an
initial share sale in Japan
DQGWKH86
Morikawa has expressed his will to resign
at the end of his tenure in
0DUFK)XPLNR+D\DVKL
a spokeswoman for Line,
said by phone.This management change is not
a sudden change but a
planned one.
The appointment is subject to shareholder approval.
This month, Line agreed
to buy Microsoft Corp.s
MixRadio streaming service for an undisclosed
amount as it seeks to
speed user growth.
Lines potential IPO
could have valued the
company at more than 1
trillion yen ($8.3 billion),
people familiar with the
situation said in July.
The company said in
2FWREHU LW KDG  PLO-

Line boasts over 500 million users.

28

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

INTERNATIONAL AND DOMESTIC FLIGHT SCHEDULE

Flig
ghts
s fro
om Yang
gon (RGN
N) to Bangkok (BKK)
Flight No.
PG 706
DD4231
FD2752
8M335
TG304
PG702
Y5-237
TG302
PG703
8M331
FD2754
PG704
TG306
DD4239
FD 252
FD 254

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

Days
s
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5
3 4 5

6
6
6
6
6
6
6
6
6
6
6
6
6
6
6
6

7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7

From
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN

To
BKK
DMK
DMK
BKK
BKK
BKK
BKK
BKK
BKK
BKK
DMK
BKK
BKK
DMK
DMK
DMK

ETD
7:15
8:00
8:30
8:40
9:50
10:45
18:05
14:45
15:20
16:30
17:50
18:25
19:40
21:00
8:30
17:30

ETA
9:30
9:45
10:15
10:25
11:45
12:40
19:50
16:40
17:15
18:15
19:35
20:20
21:35
22:45
10:15
19:10

Flig
ghts
s fro
om Bang
gkok (BK
KK) to Ya
angon (RGN)

Operated by:
Bangkok Airways
NOK Airlines
Thai AirAsia
MAI
Thai Airways
Bangkok Airways
Golden Myanmar Airlines
Thai Airways
Bangkok Airways
MAI
Thai AirAsia
Bangkok Airways
Thai Airways
NOK Airlines
AirAsia
AirAsia

Flight No.
DD4230
8M336
FD2751
TG303
PG701
FD2755
PG707
Y5-238
FD2753
PG703
TG305
DD4238
8M332
PG705
FD 251
FD 253

Flig
ghts
s fro
om Yango
on (RGN)) to Chia
ang Maii (CNX)
W9-9607

RGN

CNX

14:50

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

1 2 3 4 5
1
1 2 3 4 5
1 2 3 4 5
1
3 4 5
5
1 2 3 4 5
1 2 3 4 5

6
6
6
6
6
6
6
6

7
7
7
7
7
7

RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN

SIN
SIN
SIN
SIN
SIN
SIN
SIN
SIN

10:10
0:25
8:30
10:25
11:30
13:45
9:45
16:40

14:40
5;00
13:00
14:45
16:05
18:15
14:35
21:15

Air Bagan

W9-9608

1
1
1
1

VN956

2
2
2
2
2

3
3
3
3

4
4
4
4
4

5
5
5
5

6
6
6
6
6

7
7
7
7

RGN
RGN
RGN
RGN
RGN

KUL
KUL
KUL
KUL
KUL

8:30
8:55
12:15
8:30
19:30

Golden Myanmar Airlines

SilkAir
MAI
Singapore Airline
Jetstar Asia
MAI
TigerAir
SilkAir

12:50
12:55
16:30
12:50
23:45

5 6 7

RGN

HAN

19:10

Y5-234
SQ998
8M6231/3K585
8M232
MI518
8M235
TR2822
MI520

1
1
1
1
1

RGN

SGN

14:25

2 3 4
2 3 4
3 4
2 3 4
2 3 4

1 2 3 4 5 6
2
5 6

RGN
RGN

TPE
TPE

10:50
11:35

1
1
1
1

2 3 4
6 7
1 2 3 4 5 6 7
3
6

RGN
RGN
RGN

KMG
KMG
KMG

14:15
14:40
12:20

17:10

Vietnam Airlines

VN957

2
2
2
2
2

2 3 4

6 7

RGN

BJS

14:15

VN943

Days
s
3

From
RGN

To
NNG

ETD
12:20

16:10
17:20

China Airline
EVA Air

CI7915
BR287

1 2

RGN

HKG

1:10

6
6
6
6
6
6
6

7
7
7
7
7
7
7

4
4
4
4
4

5
5
5
5

6
6
6
6
6

7
7
7
7

5 6 7
4

Air China
China Eastern
China Eastern (via NNG)

CA905
MU2031
MU2011

1 2 3 4 5 6 7
2
5 6

Operated by:
NOK Airlines
MAI
Thai AirAsia
Thai Airways
Bangkok Airways
Thai AirAsia
Bangkok Airways
Golden Myanmar Airlines
Thai AirAsia
Bangkok Airways
Thai Airways
NOK Airlines
MAI
Bangkok Airways
AirAsia
AirAsia

CNX

RGN

17:20

17:50

Air Bagan

SIN
SIN
SIN
SIN
SIN
SIN
SIN
SIN

RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN

15:35
7:55
9:10
14:10
14:20
19:15
7:20
22:10

17:05
9:20
10:40
15:40
15:45
20:45
8:45
23:35

Golden Myanmar Airlines

Singapore Airline
Jetstar Asia
MAI
SilkAir
MAI
TigerAir
SilkAir

KUL
KUL
KUL
KUL
KUL

RGN
RGN
RGN
RGN
RGN

6:55
10:05
14:00
06:55
17:50

8:00
11:15
15:00
08:00
19:00

AirAsia
Malaysia Airlines
MAI
AirAsia
AirAsia

HAN

RGN

16:35

18:10

Vietnam Airlines

SGN

RGN

11:40

13:25

Vietnam Airlines

21:55

TPE
TPE

RGN
RGN

7:15
7:30

10:05
10:35

China Airline
EVA Air

Fllig
ghts
s fro
om Kunm
ming(KM
MG) to Yangon (RGN)
2 3 4
6 7
1 2 3 4 5 6 7
3
6

KMG
KMG
KMG

RGN
RGN
RGN

12:40
13:30
8:25

13:15
14:00
11:30

Air China
China Eastern
China Eastern (via NNG)

Fllig
ghts
s from Beijjing (BJS
S) to Yan
ngon (R
RGN)
Air China (via KMG)

CA905

2 3 4

6 7

BJS

RGN

8:05

13:15

Air China (via KMG)

Flig
ghts
s fro
om Nann
ning (NN
NG) to Ya
angon (RGN)

ETA
16:25

Operated by:
China Eastern

Flight No.
MU2011

Days
s
3

Flig
ghts
s fro
om Yango
on (RGN)) to Hon
ng Kong (HKG)
KA251

ETA
07:55
7:25
8:00
8:45
9:40
12:20
14:30
21:55
17:20
17:35
18:40
20:15
20:05
21:15
8:00
17:00

Fllig
ghts
s from Taipei (TPE
E) to Yan
ngon (RGN)

Flig
ghts
s fro
om Yang
gon (RGN
N) to Na
anning (NNG)
Flight No.
MU2012

3
3
3
3

Fllig
ghts
s from Yan
ngon (RG
GN) to Beijing (BJS)
CA906

ETD
06:30
6:40
7:15
8:00
8:50
11:35
13:40
21:10
16:35
16:45
17:55
19:30
19:20
20:00
7:15
16:20

Fllig
ghts
s fro
om Ho Chii Minh (S
SGN) to Yangon
n (RGN)

Vietnam Airlines

17:35
17:55
18:10

To
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN

Flig
ghtts frrom Han
noi (HAN
N) to Yan
ngon (R
RGN)

21:30

Fllig
ghts
s fro
om Yang
gon (RGN
N) to Kunming(KMG)
CA906
MU2032
MU2012

From
DMK
BKK
DMK
BKK
BKK
DMK
BKK
BKK
DMK
BKK
BKK
BKK
BKK
BKK
DMK
DMK

Flig
ghtts frrom Kuala Lumpur (KUL)to
o Yangon
n (RGN)
AK1426
MH740
8M502
AK 504
AK 502

Fllig
ghts
s from Yan
ngon (RG
GN) to Taipei (T
TPE)
CI7916
BR288

7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7

5
5
5
5
5
5
1 2 3 4 5
5

AirAsia
MAI
Malaysia Airlines
AirAsia
AirAsia

Fllig
ghts
s fro
om Yangon (RGN) to Ho Chi Minh
h (SGN)
VN942

6
6
6
6
6
6
6
6
6
6
6
6
6
6
6
6

Flig
ghtts frrom Yan
ngon (RG
GN) to Hanoi (H
HAN)
3

Days
s
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5
4 5

Fllig
ghts
s fro
om Singa
apore (SIN) to Yangon (RGN)

Fliightts frrom
m Yangon
n (RGN) to Kuala
a Lumpu
ur (KUL)
AK1427
8M501
MH741
AK 505
AK 503

3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3

Flig
ghts
s fro
om Chiang
g Mai (C
CNX) to Yangon (RGN)

16:20

Fllig
ghts
s fro
om Yang
gon (RGN
N) to Sin
ngapore (SIN)
Y5-233
MI509
8M231
SQ997
8M6232/3K586
8M233
TR2823
MI517

2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

5:35

From
NNG

To
RGN

ETD
10:15

ETA
11:30

Operated by:
China Eastern

Hon
ng Kong (HKG) Flights from Ya
angon (RGN)
Dragon Air

KA250

HKG

RGN

21:50

23:45

Dragon Air

*P
Plea
ase
e no
ote the
e day change for the deparrture time to
o Hong Kong
g.

Fllig
ghts
s fro
om Yangon (RGN) to Guan
ng Zhou
u (CAN)
8M711
CZ3056
CZ3056

RGN
RGN
RGN

CAN
CAN
CAN

8:40
11:20
17:40

13:15
15:50
22:15

Fllig
ghts
s fro
om Guang Zhou (C
CAN) to Yangon
n (RGN)

MAI
China Southern Airline
China Southern Airline

CZ3055
8M712
CZ3055

3
2
1

Fligh
hts fro
om Yang
gon (RGN) to Ko
olkata (C
CCU)
Flight No.
AI228
AI234

Days
s

From
RGN
RGN

8M 601
AI234

1
1

NH914

1 2 3 4 5 6 7

5
5

To
CCU
CCU

ETD
18:45
13:40

ETA
19:45
16:55

5 6
5

RGN
RGN

GAY
GAY

10:30
13:40

NRT

22:10

Days
s

MAI
Air India

8M 602
AI233

ALL NIPPON Airways

NH913

1 2 3 4 5 6 7

3
4

7
7

QR619

1 2 3 4 5 6 7

RGN
RGN

ICN
ICN

0:05
0:50

DOH

8:00

Days
s
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
6
7

From
RGN
RGN
RGN
RGN
RGN

To
NYT
NYT
NYT
NYT
NYT

ETD
7:15
10:45
17:00
8:00
15:30

8:00
8:50

Korean Air
Asiana

KE471
OZ4753

1 2
2
1 2
1
1 2
1 2
1 2
1 2

3 4 5 6 7
4
6 7
3 4 5 6 7
5
3 4 5 6 7
3 4
3 4 5 6 7
3 4 5 6 7

RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN

MDY
MDY
MDY
MDY
MDY
MDY
MDY
MDY

6:15
6:30
6:10
11:15
15:00
6:00
6:30
11:30

From
CCU
CCU

5
5
3

Qatar Airways

QR618

1 23

5 6
5

GAY
GAY

4 5 6 7
3
6

1 2 3 4 5 6 7

To
RGN
RGN

ETD
10:35
13:30

ETA
13:20
18:00

Operated by:
Air India
Air India (via GAY)

RGN
RGN

12:50
15:00

16:00
18:00

MAI
Air India

NRT

RGN

11:45

17:15

ALL NIPPON Airways

ICN
ICN

RGN
RGN

18:40
19:30

22:55
23:40

Korean Air
Asiana

DOH

RGN

21:05

06:29+1

Qatar Airways

Fllig
ghts
s fro
om Nay Py
yi Taw (N
NYT) to Yangon
n (RGN)

Operated by:
FMI Air Charter
FMI Air Charter
FMI Air Charter
FMI Air Charter
FMI Air Charter

Flight No.
FMI-A2
FMI-B2
FMI-C2
FMI-A2
FMI-A2

Days
s
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
6
7

Fliightts frrom Yango

on (RGN) to Man
ndalay (MDY)
Y5-234
YH 909
YH 917
YH 727
YH 731
W9 501
K7 222
YJ 201

China Southern Airlines

MAI
China Southern Airlines

Flightts frrom Doh

ha (DOH) to Yangon (R
RGN)

11:45
ETA
8:15
11:45
18:00
9:00
16:30

10:30
15:45
16:35

Flig
ghts
s from Seo
oul (ICN)) to Yan
ngon (RG
GN)

Fllig
ghts
s fro
om Yangon (RGN) to Nay Pyi Taw
w (NYT)
Flight No.
FMI-A1
FMI-B1
FMI-C1
FMI-A1
FMI-A1

8:40
14:15
14:45

Fliightts frrom Tok

kyo (NRT
T) to Ya
angon (R
RGN)

Fllig
ghts
s from Yan
ngon (RG
GN) to Doha (DO
OH)
RGN

RGN
RGN
RGN

Flig
ghts
s from Gay
ya (GAY) to Yan
ngon (RG
GN)

Flig
ghts
s from Yan
ngon (RG
GN) to Seoul (IC
CN)
KE472
OZ7463

CAN
CAN
CAN

Fligh
hts fro
om Kolk
kata (CCU
U) to Ya
angon (R
RGN)

11:50
15:00
06:45+1

Flight No.
AI227
AI233

Flig
ghtts frrom Yan
ngon (RG
GN) to Tokyo (N
NRT)
RGN

Operated by:
Air India
Air India (via GAY)

Flig
ghts
s from Yan
ngon (RG
GN) to Gaya (GA
AY)
3

6
4

From
NYT
NYT
NYT
NYT
NYT

To
RGN
RGN
RGN
RGN
RGN

ETD
8:35
13:30
18:20
10:00
17:00

ETA
9:35
14:30
19:20
11:00
18:00

Operated by:
FMI Air Charter
FMI Air Charter
FMI Air Charter
FMI Air Charter
FMI Air Charter

Fliightts frrom Mand

dalay (MD
DY) to Yangon (RGN)

7:30
8:10
8:30
13:25
17:10
7:25
8:40
12:55

Golden Myanmar Airlines

Yangon Airways
Yangon Airways
Yangon Airways
Yangon Airways
Air Bagan
Air KBZ
Asian Wings

Flight No.
Days
s
From
To
ETD
ETA
Y5-234
1 2 3 4 5 6 7
RGN
MDY
6:15
7:30
Days - (1) Monday (2) Tue
esda
ay (3
3) Wed
dnes
sda
ay (4) Thursday
y (5) Friday (6) Saturday (7) Su
unday

Operated by:
Golden Myanmar Airlines

Y5-233
YH 910
YH 918
YH 728
YH 732
W9 502
K7 223
YJ 202

1
1
1
1
1
1
1
1

2 3 4 5 6
3
2 3 4
6
5
2 3 4 5 6
2 3 4
2 3 4 5 6
2 3 4 5 6

9:25
10:30
10:25
11:05
19:15
18:15
11:05
17:25

Golden Myanmar Airlines

Yangon Airways
Yangon Airways
Yangon Airways
Yangon Airways
Air Bagan
Air KBZ
Asian Wings

Flight No.
Days
s
From
To
ETD
ETA
Y5-233
1 2 3 4 5 6 7
MDY
RGN
8:10
9:25
Days - (1) Monday (2) Tue
esda
ay (3
3) Wed
dnes
sda
ay (4) Thursday
y (5) Friday (6) Saturday (7) Su
unday

Operated by:
Golden Myanmar Airlines

7
7

MDY
MDY
MDY
MDY
MDY
MDY
MDY
MDY

RGN
RGN
RGN
RGN
RGN
RGN
RGN
RGN

8:10
7:40
8:30
9:10
17:10
16:10
9:00
16:00

Mann Yadanarpon Airlines

IT & TELECOM

29
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Huaweis Smartphone Sales Shoot up After

Copying Xiaomis Online Strategy
Gerry Shih

Gartner. A year earlier,

;LDRPL UHDFKHG MXVW 
million compared with
PLOOLRQIRU+XDZHL
Its going to be a very,
very close race this next
year, said Counterpoint
Research analyst Neil
6KDK +XDZHL KDV EHHQ
SXVKLQJWKH+RQRUEUDQG
in Europe and Latin
America, in contrast to
Xiaomi which mainly
targets China and India,
Shah said.
,I +XDZHL LV VWURQJ LQ
two or three markets, it
balances out Xiaomi doing well in China, he said.
+XDZHLKDVORQJVRXJKW
to establish a brand outside of China, but the online model it has adopted

IRU +RQRU FRXOG H[SRUW

the price-sensitive market conditions it seeks to
avoid.
The continued success
of Xiaomi and its aggressive pricing is likely
WR VTXHH]H SURWDELOLW\
in the medium term for
nearly all handset makers except market leader
Samsung Electronics Co
Ltd and high-end handset
maker Apple Inc, Fitch
Ratings said in a report in
October.
$ UHJXODWRU\ OLQJ
showed Xiaomis operatLQJSURWPDUJLQZDVMXVW
1.8 percent, though the
smartphone maker said
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into account all aspects

of its business. By comparison, Samsungs 2013

margin was 18.7 percent.
+RQRU GRHVQW PDNH
money but doesnt lose
money, said brand president Liu.
7RZLGHQWKHSURWPDUJLQ+RQRUQHHGVWRUDLVH
its image and woo wealthier consumers with highVSHF SURGXFWV +XDZHL
consumer division chief
Richard Yu told reporters
last week.
,I+XDZHLZDQWVWRVXUvive, we have to win in developed markets like Europe, a high-end market,
said Yu. Next year is very
important for us to target
the high segment.
Reuters

Myanmar Summary

ZN ZI (G N L I L+ ?

Huawei
Technologies Co Ltd onf
Xiaomi Inc ? W*HIYGNLI

Simon Dawson/Bloomberg

KLQDV
+XDZHL
Technologies
Co
Ltd has taken sales
RI LWV ORZSULFH +RQRU
brand of smartphones to
20 million from 1 million
in just one year, hitting
pay dirt with the disruptive online-only strategy
it copied from smaller upstart Xiaomi Inc.
Given the early signs,
+XDZHL H[HFXWLYHV KRSH
to emulate the phenomenal growth of Xiaomi,
which broke into the
JOREDO WRS YH LQ MXVW D
few years - a success not
likely to go unnoticed by
the growing ranks of lowcost Chinese smartphone
makers.
But analysts say the lowcost strategy has fanned
the price wars and thin
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in China, and that its
VSUHDG FRXOG DHFW PDUgins at all makers.
+RQRU EUDQG SUHVLGHQW
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transition to an online
sales strategy was inevitable given the competiWLYH SULFLQJ DRUGHG E\
reduced distribution expenses that would otherwise make up 30 percent
of handset costs.
E-commerce is massively changing the traditional channels for the
smartphone industry, and
we needed to go in that

direction too, Liu said in

an interview in Beijing,
where he unveiled the
+RQRU3OXVVPDUWSKRQH
last week.
+RQRU
KDQGVHWV
GURSSHG WKH +XDZHL
name last December and
have since been marketed
and distributed indepenGHQWO\ RI +XDZHLEUDQGed phones. They are sold
in countries ranging from
Belgium to Brazil, primarily via marketplaces
such as those of JD.com
Inc in China and Flipkart
Online Services Pct Ltd in
India.
The brand makes up a
TXDUWHU RI +XDZHLV 
shipment goal, and in the
third quarter, helped the
Shenzhen-based telecoms
equipment maker pip Xiaomi to the number three
spot in global market
share, according to data
from Gartner.
+XDZHL LV QRW WKH RQO\
Chinese
smartphone
maker to notice Xiaomis
online approach. Lenovo
Group Ltd in October said
it would sell a line of devices by Internet only,
though it has released few
details.
The strategy has taken
RLQWKLV\HDULQSDUWLFXlar. Privately owned Xiaomi, valued at over $45
billion, sold 15.8 million
smartphones in July-SepWHPEHU YHUVXV +XDZHLV
15.9 million, according to

Huawei is trying to expand their market.

wpfckwnf;wGifom a&mif;cs
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udk ,ckESpftwGif; tvkH;aygif;
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Huawei trIaqmifr sm;onf
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zkef;rsm;ESifhrwl atmifjrifvmNyD;
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ae&modkY a&muf&Sdvmonfh Xiaomi
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arQmfrSef;cJhonf/odkYaomf wefzdk;
enf;AsL[monf wkwfEdkifiHwGif
aps;uGuf,SOfNydKifrIESifh tusKd;
tjrwfenf;yg;rIwdkY jzpfapcJhNyD;
jzpfaMumif;ESifh xdkodkYjyefYyGm;rI
onf tjcm;aom xkwfvkyfol
UVP? WMUZIWS*HITGNLI PUVP
wGifyg xdcdkufrI&SdvmEdkifaMumif;
avhvmolrsm;rS ajymMum;xm;
onf/
Honor ?WU6ZIZ+TG\I2X_
Jeff Liu rS xkwfvkyfa&;
vkyfief;rsm; tGefvdkif;ta&mif;
r[mAsL[modkY ajymif;vJvmjcif;
onf [ef;qufukefusp&dwfudk
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onfhtwGuf aps;EIef;,SOfNydKifrI
udk rvGrJ aoGjzpfaprnfjzpfaMumif;
ajymMum;cJhonf/

Twitter Starts Selling Ads in Russia

to Propel Global Expansion
Ilya Khrennikov

witter Inc. started

to sell advertising in
Russia, shrugging
RUHJXODWRU\KXUGOHVDQG
a slowing economy as part
of a push to add revenue
RXWVLGHWKH86
The social network is
selling ads through reVHOOHU +WWSRRO WKH FRPpanys advertising partner
for Eastern Europe, Vice
President Colin Crowell
said in an interview in
Moscow. Russias largest
lender OAO Sberbank and
wireless operator VimpelCom Ltd. are among the
San
Francisco-based

FRPSDQ\V UVW 5XVVLDQ

FOLHQWV DFFRUGLQJ WR +WWpool.
Twitters global prospects as a company are
contingent on succeeding in markets around
the world, Crowell said.
Weve been -- particularly over the last 18 months
-- growing internationally to catch up to where
the service and the brand
outleaped the size of the
company a few years
back.
The site is targeting
Russia, the worlds sixthbiggest country by Internet audience, even as
President Vladimir Putin

signed laws this year to

tighten control over bloggers and urge foreign
companies to store users
data locally. Google Inc. is
relocating its engineering
team away from the country that faces a recession
after its currency plunged
to a record low against the
86GROODU
Twitter is complying
with Russian government
requests to block access to
illegal content in the same
manner as it does elsewhere, Crowell said. Its
too early to comment on a
law requiring companies
to store user data locally
as it wont come into force

for another year, he said.

The Russian blogger law
equates online writers
with 3,000 or more readers as media outlets, making them and their hosts
liable for content and subject to regulation. Twitter
is working with regulator Roskomnadzor about
ways to comply with the
rule, Crowell said.
Twitter had 10.1 million
Russian users as of July
compared with 10.5 million at Facebook Inc. (FB),
according to research by
ComScore Inc. Moscowbased Mail.ru Group Ltds
social networks VKontakte and Odnoklassniki had

59 million and 53 million

users respectively, ComScore data shows.
Bloomberg
Myanmar Summary
Twitter Inc. rS Oya'jyKa&;

qdkif&mtusyftwnf;ESifh pD;yGm;
a&;aES;auG;aerIudk ta&;rpdkuf
bJ tar&duefjynfaxmifpt
k jyif
buf w G i f tusKd ; tjrwf r sm;
&SmazG&ef vkyfaqmifrIwpf&yf
taejzifh k&Sm;wGif aMumfjimrsm;
pwifa&mif;csaeNyDjzpfonf/
vlrIuGef&uf Twitter onf
aMumfjimrsm;udk Eastern Europe
?D0XPIMLPXG
N SI PY6I Httpool

rSwpfqifh a&mif;csrnfjzpfaMumif;
XGN
NZG2X_Colin Crowell
rS armfpudkwGif jyKvkyfcJhonfh
tifwmAsL;wGif ajymMum;cJo
h nf/
N 6P?W%X'TN+DL*DFVYN\ILHI
OAO SberBank ESifh BudK;rJh
qufo,
G fa&;vkyfief; VimpelCom
Ltd wdkYonf San Francisco
WDMFSGNXIXNU3'?\[U2'TN+
aom k&Sm;okH;pGJolrsm;jzpfvm
aMumif; Httpool rS od&onf/
]]Twitter &J U urmvkH;qdkif&m
arQmfvifhc sufuawmh ukrPD
taeeJY urmwpf0Srf;aps;uGuf
awGrSm taMumif;tm;avsmfpGm
atmifjrifrIawG& &SdaezdkYygyJ}}[k
Crowell rS ajymMum;cJhonf/

SOCIAL SCENES

30

Myanmar Business Today

mmbiztoday.com

January 1-7, 2015

Capella Real Estate And

Investment Launch Party

Kaung Thain Kha

Ladies pose for a photo at the event. Kaung Thain Kha

U Zaw Min Tun, CEO of Capella Real Estate & Investment, speaks at the event.
Kaung Thain Kha

U Myat Kaung, Chairman of Chin Corp (Myanmar) Co

Ltd, make prasentation at the event. Kaung Thain Kha

A lucky draw winner receives present at the event.

Kaung Thain Kha

Staff poses for a photo at the event.

Guests pose for a photo at the event.

The Launching
Ceremony Of Three
Global Ford
Nameplate

Guests pose for a photo at the event.

Guests pose for a photo at the event.

Mr James Smith, senior manager of Marga Asia Limited, speaks at the event.
Kaung Thain Kha

Kaung Thain Kha

Opening Ceremony Of
Swiss Time Square

Khin Tun, managing director of Capital Automotive Limited , speaks at the event.
Sagar

Sagar

Sagar

David Westerman, managing director of Asia Pacific Emerging

Markets, Ford Motor Company, gives his speech at the event.
Sagar

Delagates pose for a photo at the event.

Mango

U Win Myint, union minister for commerce(M), looking around at the event.

Mango

U Win Myint, union minister for commerce(M), looking around at the event.

Mango

Guests pose for a photo at the event.

David Westerman, managing director of Asia Pacific emerging markets, Ford Motor Company (R), Khin Tun,
managing director of Capital Automotive Limited (M), and Paul Varley, Ford Sales Manager, Capital Automotive Limited (L) pose for a photo at the event.
Sagar

CLASSIFIEDS

January 1-7, 2015

31
Myanmar Business Today
mmbiztoday.com

ENTERTAINMENT

32
Myanmar Business Today

January 1-7, 2015

mmbiztoday.com

Karen New Year

Morlay J Weston

Wai Linn Kyaw

wo weeks before January

1st, the member s of the
Karen ethinicity celebrated their new year in southeastern Myanmar. Most villages
celebrate with traditional dancing, plenty of food and drink,
DQGUDLVLQJWKH.DUHQDJ
Karen New Year is fairly new
as far as holidays go, only going
back to 1938 according to one
source. It is a secular holiday,

celebrated by all religious communities in the region.

In many villages, celebrations
continue through the night and
into the next morning. Despite
the chill this time of year, many
people sleep outdoors.
The holiday is right after the
harvest season, and also after
houses are traditionally conVWUXFWHG,WLVDOZD\VRQUVW
day of the month of Pyathoe in
the Karen calendar.

Yangon Marathon Route and

Road Closures Announced
Aung Phyo

Wai Linn Kyaw

Wai Linn Kyaw

Morley J Weston

he third annual Yoma Yangon International Marathon will be held on Sunday, January 11th,
starting and ending at Thuwunna National Indoor Stadium.
According to a press release, organisers have improved the path of the course based on suggestions from last year's marathon. The marathon will pass by sites such as Botahtaung Pagoda,
Shwedagon Pagoda and Inya Lake.
If you prefer to travel by car, bus or taxi, expect delays that Sunday. Some of the roads which will be
fully or partially closed from 4.30am till up to 11.30am include Waizayandar Road, Old Strand Road,
Kyeemyindaing Kanner Road, Baho Road, Min Dhama Road, Insein Road, Pyay Road, Inya Road,
Kyaik Ka San Road and Lay Daung Kan Road.
In addition to the full 42.195km marathon, a half marathon, 10K challenge and a 3km fun run/walk
will also be held.
Last year saw more than 3000 runners participate.