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Nara Chandrababu Naidu's Visionary Policies For Andhra Pradesh's Development
Myanmar Business Today - Vol 2, Issue 8
1. Myanmar Business Today
mmbiztoday.com
February 20-26, 2014
MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL
mmbiztoday.com
February 20-26, 2014 | Vol 2, Issue 8
Myanma Airways Signs Nearly
$1-b Aircraft Leasing Deal
Kyaw Min
S
mar.
Myanma Airways (MA),
aisle jets, according to a
joint statement from the
GECAS, the commercial
aircraft-leasing arm of
US-based General Electric Co, said the deal had a
list price of $960 million
and the aircraft will be
delivered through 2020.
markets in the region, ofways told a news conference on the sidelines of
2014 Singapore Air Show.
“Myanma
Airways,
which has suspended international
operations
since 1993, is now going to
re-enter the international
market with the support
of our good friend and
partner GECAS,” Minister for Transportation U
Nyan Htun Aung said.
“We hope that we could
become well known again
to international air travellers.”
pand its international
routes to Japan and South
Korea. Currently, its only
livered in June 2015 and
by GECAS.
Leasing companies rent
change for a monthly fee.
Each 737 aircraft is worth
about $90 million at list
prices when ordered directly from planemaker
Boeing.
dhist pilgrim destination
Gaya in India.
“We are delighted to
work with GECAS to develop and upgrade our
routes into key markets in
the region,” said Captain
Contd. P 6...
Myanmar Summary
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Ü
Aviation Services (GECAS)
rS bdk;tif; 737 *sufav,mOf
Soe Zeya Tun/Reuters
tate-owned
Myanma Airways has
agreed to lease 10
new Boeing 737 jets from
the world’s biggest leasing
company GE Capital Aviation Services (GECAS),
marking the largest single
MA will work with GECAS to develop and up-
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Contd. P 6...
German President Joachim Gauck gives a speech at Yangon University.
Germany Waives Half a Billion
Euro of Myanmar’s Debt
Phyu Thit Lwin
G
ermany has signed
an agreement to
slash more than
half a billion euro in debt
owed by Myanmar, in line
with a debt forgiveness
agreement the Southeast
Asian nation made a year
ago with the Paris Club,
a group of creditor countries.
The agreement was
signed on February 10 in
Myanmar’s capital Nay
Pyi Taw, during a state
visit by German President
Myanmar Summary
by a German head of state
in 26 years, state-run media reported.
The remaining debt of
€542 million ($741 mil-
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paid with a three percent
interest within a period of
15 years, according to the
agreement.
Myanmar
negotiated
the deal a year ago with
Contd. P 6...
Contd. P 6...
2. LOCAL BIZ
2
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
Business News in Brief
MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL
Board of Editors
Editor-in-Chief - Sherpa Hossainy
Editor-in-Charge - Wai Linn Kyaw
Parliament calls for nuclear energy to cope
with chronic power shortage
ment last week urged the government to generate nuout the country, local media reported.
Reporters & Writers
Sherpa Hossainy, Kyaw Min,
Phyu Thit Lwin, Htet Aung,
Su Su, Aye Myat, Daisuke Lon, Yasumasa Hisada
Art & Design
Zarni Min Naing (Circle)
Naing Zaw Linn
DTP
May Su Hlaing
The Myanmar government will announce the winblocks this month, a senior Energy Ministry has said.
“'We are nearly at 100 percent evaluation of the 2013
in February,”' Win Maw, the deputy director general of
with the bid winners could take months before they are
Translators
Shein Thu Aung, Phyu Maung
Advertising
Seint Seint Aye, Moe Hsann Pann, Htet Wai Yan
Advertising Hotline - 09 420 237 625, 09 4211 567 05,
09 31 450 345
Subscription & Circulation
Aung Khin Sint - aksint2008@gmail.com
09 20 435 59
Nilar Myint - manilarmyint76@gmail.com
09 4210 855 11
Managing Director
Prasert Lekavanichkajorn
pkajorn@hotmail.com
Email
Editor-in-Chief - sherpa.hossainy@gmail.com
Editor-in-Charge - linnkhant18@gmail.com
Advertising - sales.mbtweekly@gmail.com
Designer - zarni.circle@gmail.com
Myanmar imports 90pc of medicine requirements
Myanmar has to import 90 percent of the medicine
required for its population of over 60 million, the Kumtor has shown interest in manufacturing medicines in
the country.
Marubeni Corp plans to build fertiliser factory in Myanmar
cluding construction of a chemical fertiliser factory,
local media reported. A team led by Tetsuro Terasaka,
Yangon, reportedly met with Win Tun, union minister for Environmental Conservation and Forestry, and
Investment and Company Administration, in Nay Pyi
Taw recently.
Phone
Editor - 09 42 110 8150
Designer - 09 7310 5793
Publisher
graded with aid from India and will produce 92 Ron
(unleaded gasoline), a Myanma Petrochemical Enterprise source was quoted as saying in local media. My-
U Myo Oo (04622)
Printing
Shwe Naing Ngan Printing (04193)
No. 1A-3, Myintha 11th Street,
South Okkalapa Township, Yangon.
Tel: 951-850 0763,
Fax: 951-8603288 ext: 007
yarkan – Thanlyin and Chauk.
Myanmar to send workers to Taiwan
permitting Myanmar workers to move to Taiwan’s manucials from the Federation of Myanmar Overseas Employment Agencies. If all goes well, workers from Myanmar
will be sent to Taiwan after May, the report added.
Myanmar to import minicars through border
gates
Myanmar will soon allow imports of minicars, which
have less than 1,000cc engine power, through border
gates, local media reported Commerce Minister Win
Myint as saying in Tamu Town, on Indian Border, recently.
GIZ to assist Myanmar banks
The German Agency for International Cooperation
(GIZ) will assist three Myanmar private banks in terms
small and medium-sized enterprises. Under the government to government aid program, GIZ will provide
Bank. The aid program will run from March 2014 to
September 2015.
India, Myanmar, Thailand road project at
feasibility stage
A feasibility report is being prepared for the proposed
highway to connect India with neighbouring Myanmar
and Thailand, an Indian minister said. “Presently, projects are at feasibility-report stage,” Minister of State for
Road, Transport and Highways, Sarvey Sathyanarayana, told the Indian parliament, Indian media reported.
“India agreed to undertake upgradation of the KalewaYagyi section of trilateral highway and construction of
71 bridges in the Tamu-Kalea section,” Sathyanarayana
said.
Myanmar Summary
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3. LOCAL BIZ
3
Myanmar Business Today
mmbiztoday.com
February 20-26, 2014
APR Energy Clinches Myanmar
Power Contract
recent installation of 130MW of
new power generation in Indonesia, the Myanmar project is a
tion we are seeing in the Asia
Malaysia hub and Singapore
bassador to Myanmar, said in a
statement that doing business
in an emerging market economy “does not come without its
challenges, including the need
to implement key economic
reform policies, address infrastructure challenges, and make
try’s economic potential.”
APR Energy
perience and commitment to
principled and transparent approaches, will make a tangible
An APR Energy project site in Peru.
Sherpa Hossainy
U
S-based APR Energy
has landed a contract
to build a “fast-track”
100-megawatt power plant in
upper Myanmar, becoming the
a power generation agreement
with the government since the
lifting of sanctions in 2013.
The facility will provide the
Myanmar Electric Power Enterprise (MEPE) with a “guaran(MW) of power generation,
with plant capacity to deliver up
to 100MW,” APR Energy said in
a statement.
“The products we have are
ideally suited to the needs of
Myanmar’s power market. We
plan to work with the ministry
to provide solutions for further power needs within the
country,” Clive Turton, APR
Energy’s head of business deMyanmar Business Today in a
phone interview.
Based in Kyaukse in Mandalay region, the plant will be
run by natural gas, supplied
through the Chinese-built Shwe
gas pipeline, which runs from
Myanmar’s Rakhine state to
China’s Yunan province.
“The key deliverable of APR is
... to deliver gas power generators in a very short time. Myanmar is unique in that sense that
it has indigenous gas that can
be used for power generation,”
Turton said.
The company said the plant
Myanmar Summary
will be “one of the largest thermal plants in the country and
will provide power to more than
try where about 70 percent of
the population has no access
to electricity, according to the
World Bank.
The contract, which is on a
rental basis, is due to start in
the second quarter of 2014 and
The power solutions provider
said it won the contract due to
its ability “to deliver to a very
challenging timeframe, as well
power generation technology.”
“We are delighted to have won
this contract, based on our ability to optimise the use of natural
John Campion, APR Energy’s
late 2015, Turton said, declining to mention how much investment APR will make to install the power plant.
Turton said: “From APR’s
point of view Myanmar is a key
market. We are very keen to
develop our businesses in the
market and we will be looking
forward to making a lot of investments in this country in this
particular sector.
“There’s a growing demand
for more power in the country
So, we are looking at more potential projects and we believe
that our products are ideal to
address the demand.”
APR said its turnkey plant,
featuring mobile gas power
modules (GPMs), will be “one
of the cleanest power generation solutions in Myanmar and
vestment” in the infrastructure
of the country.
“APR Energy will provide a
bridging solution for the medium term while the country
develops its long-term power
generation infrastructure,” the
company said in a release.
“This contract will create one
of the biggest thermal plants in
the country ... Together with our
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u Myanmar Business Today
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Myanmar Uses Int’l Gold
Standard for The First Time
Feng Xin
M
nounced last week that
use international measurement
standards to issue gold bars,
adding that the change will further open their country’s gold
market to the outside world.
Myanmar will start selling
gold with 99.99 percent purity
in the international unit, gram,
instead of local unit "tical".
Myanmar is awash in a variety
of minerals but has kept itself
relatively closed to the global
gold market as it was using diffying standards as well as local
measurement units. The coun-
try also restricted how much
gold foreigners could buy.
“Only after people in Myanmar become familiar with and
understand such a standard,
can the gold produced in Myanmar be sold in the international
market. After a period of promotion, more than 60 million
Myanmar people will be able to
use the standard, and then we
can adapt and enter the international market,” said U Khin
Maung Han of Myanmar Federation of Mining Association.
ban on selected minerals such
as gold won’t happen in just
one day, though. A 1994 law reContd. P 24...
Myanmar Summary
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Contd. P 24...
4. 4
Myanmar Business Today
LOCAL BIZ
February 20-26, 2014
mmbiztoday.com
Myanmar’s Border Trade Hits $4b in 10 Months
Aye Myat
M
Myanmar Summary
yanmar’s border trade
hit $4.01 billion in
Myanmar’s border trade is
done through 14 points with
four neighbouring countries –
China, Thailand, Bangladesh
and India.
Myanmar’s largest border
trade point with China, Muse,
accounted for $3.12 billion during the same period, accounting
for more than 77 percent of the
total border trade volume.
Lewjie, Chin Shwe Haw and
Kanbiketee stand are the other
trade points with China, while
Tachileik, Myawady, Kawthaung, Myeik, Nabule, Htikhee
and Mawtaung are with Thailand, Sittway and Maungtaw
are with Bangladesh and Tamu
and Reed border points are
Files
(April-January) in the current
A Thai-Myanmar border checkpoint.
with India.
According to official statistics, as of September 2013,
Myanmar’s foreign trade totalled $15.27 billion, of which
and
import
accounted
for
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Gas Pipeline Has No Environmental
Htet Aung
T
here would be no environmental impacts of the
natural gas pipelines in
Myanmar, a high ranking en-
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Shwe Gas
Aung Htoo made the remarks at
the ongoing session of the parliament’s Lower House in Nay
Pyi Taw recently in response to
a question about public safety
concern over possible leak of
the natural gas pipelines laid in
the country.
“Supervisory control and data
stalled to tackle the possible
leak problem as quick as possible,” he told the parliament.
With foreign investment, several natural gas pipelines has
been laid and are being laid in
Myanmar including MyanmarThai and Myanmar-China gas
pipelines as well as domestic
ones.
Myanmar Summary
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data acquisition (SCADA) tm; wyfqif
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People protest against the Chinese gas pipeline in Myanmar.
5. LOCAL BIZ
5
Myanmar Business Today
mmbiztoday.com
February 20-26, 2014
Building Trust: Redemption for
China’s Wanbao Mining
compensation.
“With increased compensation, I think there’s
a greater possibility that
villagers will take it,” he
said.
The company and the
-
Soe Zeya Tun/Reuters
the livelihood of villagers,
Hla Tun said.
“Before Wanbao’s donation, villagers had neither
water nor electricity, but
now the company and the
government have helped
fund power and water
Myanmar pro-democracy Leader Aung San Suu Kyi comforts a woman at a village in Sarlingyi township.
People whose land was seized to allow the expansion of the copper mine in northwestern Myanmar
prompted protests that were crushed by police last year.
Wang Xinyuan
T
hrough a combination of land
compensation and
corporate social responsibility activities, the operator of one of China’s
largest investments in
Myanmar hopes to recommence
operations
after a year’s delays and
wrangling.
at the Yangon branch of
Wanbao Mining, the Chinese State-owned company that operates the
Letpadaung copper mine,
wrote in an e-mail to the
Global Times that the
subsidies ranging from
K300,000 to 1.2 million
($300-$1,200) for an acre
of land to farmers who
make way for the project,
based on the instructions
of the Myanmar government.
This is the company’s
With joint investment
from Wanbao’s partner
the Myanmar militarybacked Union of Myanmar Economic Holdings
Ltd (UMEHL), the project
requires relocating 442
households from four villages with land compensation for residents of 26
villages.
Wanbao Mining has
previously assisted in relocating people to new
villages, rebuilt a monastery and roads, funded a
hospital and four kindergartens. Boasting international standards of environmental protection,
2,000 jobs to villagers.
ers K550,000 ($550) in
2011 for an acre of land,
and paid additional subsidies between K700,000
and 1.25 million for an
acre in June 2013.
About 40 percent of villagers refused compensation, the company said.
“Even though the project has resumed, we
have no way to proceed
due to the land issue,”
said Zhuang Yongquan,
an engineer at Myanmar
Wanbao Mining Copper,
standing atop a red rock
mountain and pointing
across plains dotted with
trees and farmland.
With an annual capacity
of 100,000 tonnes of cathode copper on a planned
square kilometres), the
mine is located in the Monywa copper mining area
of northern Myanmar’s
Sagaing region, about
three hours’ drive west of
Mandalay, the country’s
second-largest city.
U Hla Tun, minister
who also chairs the implementation committee
working for the government’s Letpadaung investigation commission,
told the Global Times that
the committee had raised
and villagers really appreciate it,” he said.
“I feel that the villagers will trust us more as
time passes. We believe
strengthened communication will make the situation better over a period
of time.”
Social responsibility
The former Myanmar
military junta approved
the Letpadaung project in
2010, with a total investment of $1.07 billion.
Myanmar then began
making its transition
from military rule to a
quasi-civilian democracy
led by President Thein
March 2011.
In November 2012 the
project was halted by
demonstrations of villagers supported by activists and some opposition
parties, protesting inadequate compensation and
potential environmental
damage.
Contd. P 12...
Myanmar Summary
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Contd. P 12...
6. LOCAL BIZ
6
February 20-26, 2014
Myanmar Business Today
mmbiztoday.com
Aye Myat
met Parliament and Lower House Speaker U Shwe
Mann and opposition
leader and Chairperson
of National League for
lion). The rest
planned to offer life and general insurance,
which requires
total
capital
of K46 billion
($53 million).
“We studied
the market for
a long time in
preparation
for the ASEAN Economic
Community,
which is due to begin in
late 2015. And now the
time is ripe to make the
big move. Thanks to reforms and abundant
natural resources, the
country has become the
darling of foreign investors. The country is also
forging ahead with several large-scale projects,”
said CEO and president
Sara Lamsam.
She said the company
is well prepared to start a
T
hailand-based
Muang Thai Life
Assurance Plc besurer to win a permit to
set up a representative
boasts a large population
and a booming economy.
Myanmar
authorities
granted the company a
permit last month, makinsurer to set foot in the
country.
more than 50 years, the
state-owned
Myanma
Insurance and the Insurance Business Supervisory Board (IBSB) has given
insurance companies conditional approval to start
operating in the country.
Twelve companies met
the criteria set by the
IBSB and Myanma Insurance.
Before the military government
nationalised
many businesses in 1963,
70 local and foreign insurance companies had been
operating in the country.
Only the governmentowned Myanma Insurance Enterprise has since
remained in business.
Of the 12 approved companies, three plan to offer life insurance, which
requires paid-up capital
of K6 billion ($6.09 mil-
Myanmar either through
a joint venture with a loonce it is allowed.
“We will prepare our
infrastructure and build
our brand in Myanmar
and we will study other
neighbouring countries,
because we believe life insurance will prosper from
the coming of the AEC.”
Myanmar is accelerating several infrastructure
airline and for the development of Myanmar’s
aviation industry.”
bassador to Myanmar,
reportedly described the
agreement as the “largest
commercial sale” by a US
company to Myanmar in
Than Tun, Myanma Air“Our collaboration with
a leading multinational
US company like GE will
economy of Myanmar.”
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decades.
“It is an important moment for both our countries and I assume it will be
ments among American
businesses and Myanmar.”
Mitchell has been a
strong supporter of GE’s
Myanmar market. In addition, GECAS’ AviaSolutions consulting business
has signed a memorandum of understanding
with the airline and will
work with its senior management to develop a
projects apart from the
port and industrial estate.
They include oil and
natural gas pipelines linking Myanmar’s port of
Kyaukphyu (Sittwe) in
the Bay of Bengal with
Kunming in China’s Yunnan province, the Thilawa
Special Economic Zone,
and the planned highway
project linking the country with India and China.
Besides
Myanmar,
Muang Thai Life is conducting a feasibility study
to invest in other ASEAN
countries such as Laos,
Vietnam, Cambodia, Indonesia and the Philippines.
Myanmar Summary
xdkif;EdkifiHtajcpdkuf touf
tmrcHvyief;jzpfonfh Muang
k f
Thai Life Insurance Plc
Myanma Airways currently connects major
local destinations in Myanmar using 12 aircraft.
GECAS currently leases
two Embraer E190 aircraft to MA. The airline
last year, compared with
230,000 in 2010.
MA currently operates
the smaller Beechcraft
and Cessna plans, as well
debt during the socialist
regime of the late General Ne Win from 1962
under the military junta
Last year, Japan agreed
to provide a bridge loan
to Myanmar to cover
outstanding debt to the
World Bank and the
totalling about $900 million. Norway cancelled all
the $534 million owed to
it, while Japan cancelled
more than $3 billion,
adding up to $6 billion,
more than 60 percent of
the total debt, the government said.
Following his meeting
with U Thein Sein, Gauck
strategic growth plan for
the airline with a focus on
route and network development.
over 1,620 owned and
serviced aircraft with over
230 airlines.
After years of isolation,
Myanmar is seen as one
of the last frontiers for
aviation in Asia, with passenger numbers surging
as new airlines spring up
and foreign carriers rush
in.
However, there are
concerns about the lack
of infrastructure and the
safety record.
Myanma
Airways
grounded its three Chi-
David Ryder/Reuters
ATR turboprops.
“We are pleased at GE
to work with Myanma
Airways to provide new,
state-of-the-art
Boeing
aircraft,” said Norman CT
Liu, president and CEO
of GECAS. “This is an important milestone for the
the Paris Club, and Gauck
said Germany could go
ahead with its part of the
deal after meeting President Thein Sein.
“A sustainable agreement has been reached
allowing Germany to forgive half a billion euro
of debt,” Gauck said in a
speech at the University
of Yangon.
Myanmar’s government
said it had met the Paris
Club on Januasry 25,
and member countries
had agreed to cancel half
of the arrears Myanmar
owed them in two stages,
rescheduling the rest over
15 years, with seven years’
grace.
Myanmar accumulated
A Boeing 737 jetliner is pictured during a tour of the Boeing 737 assembly plant in Renton, Washington.
in 2012 after two of the
turboprop aircraft suffered accidents on landing within a month.
Japan’s biggest airline
All Nippon Airways last
year bought a 49 percent
stake in Myanmar’s Asian
Wings Airways.
Aung San Suu Kyi. He
also inaugurated the Goethe Institute on February
11 in Yangon.
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7. LOCAL BIZ
7
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
German Industry and Commerce Delegation Launches in Myanmar
minister for the PresiZypries said she will
“personally push for an
investment
protection
deal between the European Union and Myanmar”
in a bid to attract more
foreign investors to the
formerly-reclusive Southing the legal framework
and forming strong unions are necessary for
Myanmar’s economic development, she added.
later issued a joint stateKyaw Min
willingness to intensify
dialogue and cooperation through further business forums and targeted
platforms for business to
gon.
Kyaw Min
T
German Industry
and Commerce has
launched its operation
in Myanmar in a bid to
boost business and bilateral ties between the two
countries.
funded by the Association
of German Chambers of
Commerce and Industry
Ministry
of
Economic
ment.
The German Federal
President Joachim Gauck
on February 11 inaugugether with Win Aung,
president of the Union of
Myanmar Federation of
Chambers of Commerce
and Industry (UMFCCI),
and Ludwig Georg Braun,
honorary president of
“Myanmar is in a process of catching up,” said
Braun. “In order to stand
its ground in regional
competition broad activiconcepts for productive
value chains will be key.
neurial infrastructure is
essential in this respect.
German companies can
make a very valuable contribution here.”
He said Germany is the
most important supplying country from within
the European Union, but
while there is room for
development in bilateral
trade and investment
activities, he sees “huge
potential for bilateral
business relations” and
encouraged taking a longterm perspective.
“German products and
technologies traditionally
enjoy high esteem in Myanmar. And I can see that
our approach based on
partnership and patience
is much appreciated as
well,” Braun said.
He said further development of the Myanmar private sector would be another “worthwhile topic”
for bilateral dialogue.
“The whole of Asia enductive SME structures.
Their success relies on the
close cooperation with the
big multinational corporations and a consequent
focus on competition
based free enterprise system. In Myanmar as well
this concept might be a
good basis for sustainable
development.”
Monika Staerk, who
has been following developments in Myanmar
and supported German
business activities since
2003, will head the German Chamber operation
Industry and Commerce.
The launching took
place during a bilateral
a business forum with
more than 150 German
business representatives
attending in the UMFCCI
headquarters.
“German
businesses
want to support and
participate in economic
growth potentials, based
on Myanmar’s geostrategic position and its wealth
in natural resources. For
these potentials to deploy, infrastructure and
energy supply will need
to be developed further
with German business being in a good position to
make sustainable contrisaid in a statement.
The forum was also
attended
by
Brigitte
Zypries, state secretary,
Federal Ministry for Ecoand U Soe Thein, union
The statement said that
both sides will continue to
“jointly work on promoting and further developing the spirit of partnership and trust, aiming at
Both sides were aware
that promoting foreign
direct investment will
be a key for economic
development and social
stability in Myanmar,
the statement said, adding that development of
infrastructure and power
supply will be a prerequisite for this.
Myanmar Summary
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8. LOCAL BIZ
8
Myanmar Business Today
mmbiztoday.com
February 20-26, 2014
India Needs to Pay Close Attention to
Myanmar Trade
Rupak De Chowdhuri/Reuters
ed to connect it to Aizwal, the
capital. It is imperative that no
time is lost in calling for tenders
to build this. No purpose will
be really achieved if there is no
road communication, of international standard, to transport
the goods either way. Many of
the Myanmar highways have
been built by the Chinese.
Myanmar, Bangladesh and Sri
Lanka are important and close
friends for India, who have to be
handled with care. There can be
great trade among all the three.
As India now discusses the issues with Myanmar, which has
bridge at the border town of Moreh, in the northeastern Indian state of Manipur.
AK Ramdas
M
yanmar and India are
neighbours, and have
a 1,640 kilometre long
border with Myanmar along
with India’s eastern states, with
Mizoram being the closest to
them. As against this, Pakistan
der.
India’s relations with Myanmar have had their ups and
downs and presently, the atmosphere is improving, thankfully,
for the better. China, on the
other hand, is fully entrenched
in Myanmar, and has booming
trade relations with them. India
need to make its presence felt in
as many areas as possible, and
its current trade with Myanmar
be increased.
In the recent times, not long
Myanmar closed its land border at International Gate Nos
I & II with India and there was
an organised rally where local
people claimed that India was
not honouring its international
boundary. As usual, it had to be
handled with care by the Union
Home Minister.
India’s trade and related project developments in Myanmar
have been slow but this could
have been increased manifold,
if only the Indian government
had regularly sponsored trade
delegations and had held India
international trade fairs in that
country. Indians would rather
take a holiday to other parts in
the near east, but shudder to
think of Yangon to visit.
Trade development can take
place when India has regular
ships sailing between the two
countries. At present, only when
there are ship loads available,
gon. Myanmar has three ports
TEUs (twenty feet equivalent units) annually. But India
doesn’t have a regular container
vessel to carry its cargo.
pears now, that the Shipping
Corporation of India (SCI), a
government undertaking, has
volunteered to make available a
vessel that can carry 1500 TEUs
provided the Union government can give them a subsidy
nually! If there are regular sailings, there is no doubt that this
can increase to 36,000 TEUs
over a period of time. Shipping
Corp’s container vessel, if made
available, under this condition,
can cover Chennai, Yangoon
and Colombo; and if there is adequate cargo, they can berth at
Krishnapatnam also.
The point at stake is, should
the government accede to their
demand and give them an annual subsidy of Rs30 crore? SCI
has made this demand, as they
are already a loss making concern, and if regular cargo was
not available to the above ports,
their loss will only mount. India’s stake in Myanmar is too
important and large; the government must not dilly-dally
willingness to subsidise the
sailings to Yangon and back. In
fact, they could include other
ports such as Sittwe also, which
has no objection.
Right now, Essar Projects Ltd,
a construction contractor from
cum-inland waterway” and is
building the Sittwe port and a
jetty at Paletwa, besides being
of the river Kaladan, between
these two points, to make it
more navigable than it is today.
Essar hopes to complete this
project by June this year, and
sels.
What’s important to note is
that from the jetty at Paletwa,
Mizoram border is only
109.2kms away, though another
250km highway would be need-
it must move seriously in public
relations campaigns in all the
three countries; and promote
trade by conducting fairs that
can display products and services.
India must remember that
China is breathing down its
neck in Myanmar, all because it
has so far neglected to take serious interest in this country.
AK Ramdas has worked with
the Engineering Export Promotion Council of India’s Ministry of Commerce. He was
also associated with various
committees of the Council. His
international career took him
to places like Beirut, Kuwait
and Dubai at a time when these
were small trading outposts;
and later to the US.
Myanmar Summary
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Myanmar: Transactions After
The Log Export Ban
Htet Aung
M
ban is set to begin immediately as the 2014-
will be midnight on the March
31. It is understood that at this
time all loading of logs bound
Myanmar Timber Enterprise
(MTE) issued a statement on
cedures recently.
ment for log shipments must be
of vessels must be concluded
before March 31, the statement
said.
Buyers having outstanding
balances on purchase contracts
may conclude purchases at contracted FOB prices provided the
logs are processed inside the
country. In this case payments
are to be made in full before
June 30.
From July 1, all remaining unisting contracts will become the
property of the MTE and sold
by open tender, MTE said.
The Enterprise said after
March 31 industrial raw logs
will be sold by open tender to
sawmills and factories operating under Myanmar Investment
Contd. P 24...
Myanmar Summary
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Contd. P 24...
9. LOCAL BIZ
9
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
Myanmar Smugglers Get Rich on Yingluck’s
£13 Billion Rice Subsidies
A populist subsidy on rice by Thailand’s ruling party is enabling smugglers from neighbouring Myanmar to make a quick buck at
the expense of Thai taxpayers
David Eimer
Myanmar Summary
F
or the rice smugglers of
Myawaddy, business has
never been better.
A scrappy, dusty Burmese
border town, Myawaddy has
long been notorious as an illicit
trading hub for drugs, guns and
precious gems.
Now, Myawaddy has become
a more nutritious but scarcely
smugglers take advantage of
the substantially higher grain
Nir Elias/Reuters
Thailand.
In Myawaddy, 50 kilos of rice
sells for £16. But in Thailand,
the same amount is worth £30,
a consequence of the ruling
Pheu Thai Party’s controversial
subsidies to the rice farmers
who make up much of its support base.
Known as the “rice-pledging
scheme”, the populist policy has
cost the government more than
£13 billion, prompting the IMF
to warn that the scheme is undermining the economy.
But the rice subsidies are
also a huge source of anger
among the largely middle-class
anti-government
protesters
who have taken to the streets
of Bangkok to try and topple
Prime Minister Yingluck Shinawatra and her Pheu Thai party from power.
They allege that not only has
dered to buy votes for Pheu
Thai, but that millions has disappeared into the pockets of the
ing the scheme.
Last month, Thailand’s National Anti-Corruption Commission (NACC) announced
a probe into the rice-pledging
policy, only adding to the pressure Yingluck is under.
The prime minister was
forced to call a snap election
that took place on February 2
Workers at the Udon Permsin rice mill pile up sacks full of rice to for storage in the northeast province of Udon Thani, Thailand.
– which was boycotted and labelled as illegitimate by the opposition – in a failed attempt to
end the political crisis gripping
Thailand. Results are yet to be
announced. Yingluck’s role as
head of the national rice committee means she could face
criminal charges arising from
the NACC’s investigation.
The commission is ready to
charge 15 other people, including a former commerce minister, with corruption linked to
the rice programme, spokesman Vicha Mahakun told a
news conference.
This month, China ditched a
huge rice deal to buy 1.2 million
tonnes of rice from Thailand,
tainty over its agricultural sector.
While the subsidies have
played a major part in causing
the policy has resulted in huge
gains.
Boats loaded with what the
smugglers coyly describe as
“chicken feed” travel daily
across the narrow stretch of
the Moei River that separates
Myawaddy in Burma from the
neighbouring Thai town of Mae
Sot.
On the outskirts of Myawaddy, The Telegraph watched as
lorries pulled into a compound
close to the river bank guarded
by Burmese soldiers. Sacks of
rice were swiftly unloaded and
transferred to waiting boats.
“We started sending ‘chicken
feed’ to Thailand in big quantities a couple of years ago,” said
diers. “It’s transported mostly
at night. Generally, we’ll send
100 sacks at a time.
“Each sack is 50 kilos.”
Some enterprising individuals sling sacks of rice on their
backs and simply wade across
the Moei River.
It is the equivalent of smuggling tea into China, or opium
to Afghanistan, because until
2012 Thailand was the world’s
That began to change following the government’s decision
in October 2011 to pay almost
double the market price for rice
to farmers. The policy was conceived as a reward for the rural
voters who make up much of
the ruling party’s power base.
But it was also a highly ambitious attempt to corner the
global market in rice, with the
government gambling on stockpiling vast amounts of grain it
The scheme, though, has infashion. A worldwide slump in
rice prices means that the government has spent almost £13.5
billion buying rice it is unable
tons – of unsold grain, nearly as
much as the country produces
in a year.
Meanwhile India and Vietnam have now overtaken Thailand as the world’s leading rice
Contd. P 10...
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Contd. P 10...
10. LOCAL BIZ
10
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
Bangladeshi PM to Attend
BIMSTEC Summit in Myanmar
B
angladeshi Prime Minis-
to Myanmar on March 1
to attend the third Bay of Bengal Initiative for Multi-sectoral
Technical and Economic Cooperation (BIMSTEC) Summit to
be hosted by Myanmar, sources
The seven-nation economic
forum groups Bangladesh, Myanmar, India, Thailand, Nepal,
Bhutan and Afghanistan and
the summit is slated for March
1-4 in Nay Pyi Taw.
The sources said Sheikh Hasina will hold a meeting with Indian Prime Minister Manmohan Singh on the sidelines of
the summit.
The group earlier decided that
of the economic forum.
Hasina to a foreign country after she became Prime Minister
for the third time after winning
the parliamentary election on
January 5 this year.
The First and Second BIMSTEC Summits were held in
Thailand in 2004 and India in
And with prices for rice far
higher than in neighbouring
countries, up to 750,000 tons
of rice is being smuggled into
Thailand annually, where it
grain so that it can be sold to
price.
“The government is running
ble from the scheme,” said
velopment Research Institute
who has made a study of the
subsidy policy.
STEC Chair in 2009.
Xinhua
Myanmar Summary
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“Rice isn’t like wine; you can’t
keep it forever. The longer
the government stockpiles it,
the more it will depreciate in
value.” With the average salary in Myawaddy just £2.50 a
day, there is plenty of incentive
for people to smuggle rice: a
42-year-old smuggler, who gave
his name as “Brother Tone” said
he could earn up to £60 a day,
almost 25 times as much.
Nor do the smugglers have to
worry about getting caught. “As
long as you have permission
from the army and pay the right
people, it’s no problem. No one
goes to prison for this in Burma,” said Tone.
2C2P Launches POS Service with
Visa and MasterCard
Su Su
2
C2P, a Singapore-based
payment solutions provider, launched a complete
point of sale (POS) service in
Myanmar in partnership with
local bank Myanmar Citizens
Bank (MCB).
The service enables merchants
in Myanmar to accept major in-
is a near impossible task for
the Thai authorities. “We have
miles of the border,” said Supachai Sasomboon, deputy director of the Mae Sot customs post.
“So it’s very hard to police the
border.”
Thailand’s economy is now
under mounting pressure from
grain and the spiralling costs of
the rice-pledging scheme itself.
The credit agency Moody’s
has already warned that it could
lead to Thailand’s rating being
downgraded.
Worse still for Yingluck, the
ternational payment cards from
both Visa and MasterCard.
The POS system will also come
with online real time reports,
slips with merchant logos, and
pre-authorisation for call centre
sales, the company said.
Such services are still new in
troduced a POS service to the
country in March of last year
by partnering with local banks.
policy has come to symbolise
what the anti-government protesters regard as Pheu Thai’s
abuse of power.
“People see rice-smuggling
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The Telegraph
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service in Myanmar at around
the same time.
The company’s move was
hinted at when the founder and
group CEO shared with Tech
in Asia that the company had
raised $2 million in Series B
11. LOCAL BIZ
11
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
British Professor with The Same Name As A Myanmar
Heroin Kingpin: Banks Keep Getting Confused
Jamila Trindle
T
he US sanctions blacklist is meant to stop terrorists, drug lords, and
weapons traders from getting
access to their money. Unfortunately, it also ensnares a lot of
people who just happen to have
the same name as one of those
alleged criminals. Professor
Stephen Law, who shares the
name of a prominent Burmese
heroin dealer, has discovered
He’s also the author of books like
“Believing Bullshit: How Not to
Get Sucked Into an Intellectual
Black Hole.” The Burmese one
is a wealthy drug kingpin who
was sanctioned by the Treasury
in 2010 because of his ties to the
country’s ruling junta. Treasury
Asia World, received lucrative
government construction contracts because of his close ties
to the regime. The second Law
uses several aliases and is believed to split his time between
Myanmar and Singapore.
The two Laws have little in
and the fact that it appears on
tions list has hit each of them
hard. The British Law said
that bank transfers from Europe take weeks to get to him
and that packages from abroad
often fail to arrive. When an
American friend sent him a
drum, it was held up at customs
complaining about his problems accessing his own money
or receiving gifts from abroad,
but the department has yet to
respond or take steps to ensure
he isn’t confused with the Burmese Law.
The British Law’s troubles
are the inadvertent byproducts
of the US government’s ongokingpins, war criminals, and
nuclear weapons proliferators
cial system. Washington uses
targeted sanctions to single out
individuals and companies and
make it illegal for US banks
and companies to interact with
them. While broad trade embargoes against countries like
Cuba haven’t worked, freezing the assets of individuals
has proven a successful tool
for pressuring them into doing
what the US government wants,
whether that’s ending support
for terrorists or giving up ties to
Photo Illustration by FP
The British Stephen Law is
a soft-spoken professor at the
University of London where he
has taught philosophy for 17
years and plays the drums in a
and then sent back to the United States. When he asked his
bank why a travel reimbursement from Austria was held up,
they wouldn’t tell him.
“I’ve been having these problems for years but I never understood what it was or why
it was happening to me,” Law
said.
Law, who describes himself
as a “fairly well-known atheist
ligious views might have somehow landed him in hot water.
But then someone on Twitter
partment list, which includes
the name Stephen Law.
Law recently wrote a letter
ment adds a new name to the
list, it issues a press release
that includes their reason for
the new designation. Banks and
companies are responsible for
making sure they don’t do business with the sanctioned perment raked in $137 million for
sanctions violations in 2013 –
cautious about handling transactions for people whose names
are at all similar to those on the
list. Most major banks check
transactions against rosters
maintained by outside companies like Thomson Reuters. If
a name is too similar to those
on the sanctions list, the transactions will be held up while
banks methodically check the
person’s address and birthdate
to make sure they’re not aiding
an alleged wrongdoer.
comment on Law’s case, but a
spokeswoman said they “always
endeavour to make public all
mation – including addresses,
dates of birth, places of birth,
and passport numbers, among
other information.” Law, for his
part, has taken to the Internet
“This has proved frustrating,
time-consuming and also costly
to me personally,” Law wrote in
a blog post. It’s incredibly subtle title: “How the US Treasury
imposes sanctions on me and
every other ‘Stephen Law’ on
the planet.”
FP
Myanmar Summary
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a&;0efBu;D XmerS ydwqrrsm;udk BuKH awGU
f Ykd I
ae&aMumif; od&onf/
12. LOCAL BIZ
12
Myanmar Business Today
mmbiztoday.com
February 20-26, 2014
SilkAir to Fly Singapore-Mandalay Route
Htet Aung
S
ilkAir, the regional wing
of Singapore Airlines, announced that it will launch
its services in Yangon-Mandalay route in a bid to increase its
network of 47 destinations in
Subject
to
applicable
ap-
Mandalay and Yangon, Myanmar, from June 10, the company said. It will also launch three
pines through circular-routing
Kalibo and Mandalay to our
they will be well-received,” said
Thng.
“As the regional wing of Singapore Airlines, SilkAir plays
Airlines Group network by
seeding and developing emerging destinations,” he said.
The two new services will
be connected via Singapore to
more than 90 cities in the joint
Singapore Airlines-SilkAir network.
The second largest city in Myanmar, Mandalay is the centre
of culture and religion in the
country. The city is home to the
Royal Palace as well as many
other attractions built during
long considered one of the
world’s greatest archaeological
sites, is also accessible through
Mandalay.
Kalibo is the capital of Aklan
province and gateway to the
idyllic Boracay island in the
Philippines. The island is known
for its white sandy beaches and
crystal clear waters.
The two new services will be
introduced during the airline’s
Northern Summer operating
season, between March 30 and
Oct 25. SilkAir is also making
network adjustments during
WMC
Mandalay will be the airline’s
second destination in Myanmar
after Yangon, while Kalibo will
be SilkAir’s third destination in
the Philippines after Cebu and
The services will be operated
with Airbus A319 and A320 aircraft, featuring both Business
and Economy Class cabins,
SilkAir said.
this season, comprising capacity increases on several routes
and reductions on others, it
said.
Myanmar Summary
Note: Singapore (SIN), Cebu (CEB), Kalibo (KLO), Yangon (RGN), Mandalay (MDL)
*All timings local
The
demonstrations
eventually led to a police
crackdown, injuries to
villagers and monks, and
prompted the government to set up a commission led by an opposition
party leader to investigate
the project’s feasibility.
In March 2013 an investigation by the commission supported continuation of the project
provided investors made
necessary improvements.
In July 2013, a new
contract was signed with
revised from 4:45:51 between the Myanmar state
company Myanmar Mining Enterprise, UMEHL
and Wanbao to 51:19:30.
Under the new contract,
Wanbao will also invest
$2 million annually for
mine reclamation and
invest $1 million in corporate social responsibility (CSR) activities before
beginning production. In
addition, all investors will
allocate 2 percent of their
throughout the project.
China is the largest investor mostly in hydro-
power, mining and gas
and oil projects in its
impoverished Southeast
Asian neighbour which
of economic stagnation,
corruption and sanctions.
Chinese companies lead
actual investment in Myanmar with $14.12 billion,
or nearly 42 percent of the
total $33.67 billion, from
Following suspension
of the project, Myanmar
witnessed a sharp fall in
its foreign direct investment as Chinese investors
feared political uncertainty might cause heavy
losses.
Investor pullout
Chinese investment in
Myanmar plunged from
11 to $407 million in the
the Myanmar Investment
Commission.
Myanmar people often
fear the big investment
projects, rooted in Myanmar’s military past, that
Chinese investment failed
to make up the shortfall,
threatening Myanmar’s
economic development.
Chinese
companies
tend to speak to the big
resources more for the
than for its local residents.
The Letpadaung copper
mine is not the only proIn September 2011, Myanmar President Thein
Sein ordered suspension
of the $3.6 billion Myitsone Hydropower Project
in upstream Ayeyawady
River as a result of opposition from residents.
That project was backed
by China Power Investment.
that worked well under
the Myanmar military
junta, said Li Zuqing, a
Myanmar-based ethnic
Chinese and dean of the
Mandalay-based Fuqing
Computer and Language
School, “but that no longer works nowadays [as
people demand democracy and transparency].”
The Chinese company’s
are little known by the
Myanmar general public as they do not have a
pifumylavaMumif;vdi;f wpfcjk zpfonfh
k
SilkAir onf &efukef-rEÅav;av
aMumif;c&D;pOftm; ysoef;ajy;qGJrIrsm;
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tm&Sypdzdwfa'owGif; avaMumif;uGef
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jzpfaMumif;vnf; od&onf/
avaMumif;ysHoef;ajy;qGJ&eftwGuf
tqdkjyKavQmufxm;rIwif SilkAir tae
G
jzifh ZGefv 10 &ufaeYrSpí rEÅav;ESifh
spokesperson and it is
hard for local media to
speak to the company,
May Thingyan Hein, CEO
of Myit Ma Kha News
Agency, told the Global
Times.
She believes that Wanbao lacks transparency
and should publish its
compensation standards
so that the media can supervise its allocation and
distribution among the
people.
A group of villagers who
are also newly recruited
workers at an orientation training for Wanbao
told the Global Times that
they are glad of a job, and
hope the project can start
production soon so that
they can get higher pay.
Some countrymen are
plot of land as it is the only
heritage they can pass on
New workers at the
company can earn about
$1,200 in annual salary, which compares
with $3,000-$5,000 annual income a household
can make farming, said
U Than Lwim Lwim, a
36-year-old villager.
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d
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ajrmuf c&D;pOfwpfcjk zpfvmrnfjzpfonf/
avaMumif;0efaqmifrrsm;tm; Airbus
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A319 ESifh A320 av,mOfrsm;jzifh
ysoef;ajy;qGay;oGm;rnfjzpfaMumif;od&
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onf/
He said he hoped to
earn a $300 monthly salary as a skilled worker at
the company in the future.
GT
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4 ausmif;udk wnfaxmif&ef
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ausmfuvnf ; urf;vSrf ;cJhonf/
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tm; ajr 1 {uvQif usyfaiG
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5 aomif;tMum; ay;tyfconf/
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aMumif;ukrPrS ajymMum;cJonf/
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aMumifh vkyfief;xdcdkufrIrsm;&Sdae
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aMumif;vnf; od&onf/
avsmf a Mu;aiGr sm;wdk;jr§ifhay;
jcif;udk&Gmom;rsm;taejzifhaus
ajymMum;cJh onf/
13. REGIONAL BIZ
13
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
Driver of Growth
Siva Govindasamy and
Tim Hepher
A
irbus claimed bragging
rights as the Asia-Pacific’s dominant aircraft
supplier last week, saying the
region’s fast growing economies
and rising passenger demand
will continue to drive demand
The European planemaker
cent of all new business in the
ders. It also delivered 331 new
aircraft, or over half of all new
planes that entered into service with the region’s airlines, it
added.
Speaking at the Singapore
“The message from me is
where the action will be for the
industry in the coming years,”
Fabrice Bregier, head of Airbus
planemaking division, said at a
news conference.
There is demand for 11,000
nearly 3,770 aircraft in service
today, it added.
Growing urbanisation means
where there will also be 90 cities with more than one million
passengers, said the company.
China will also overtake the
United States as the world’s
largest domestic airline market
by 2032, said Airbus sales chief
John Leahy.
“There is no doubting the
market both today and in the
future,” he added.
Even though airlines from the
emerging markets account for
an increasingly large portion of
its order book, Bregier said that
he is not too concerned about
the current worries about that
market segment.
Airbus is also looking for more
partnerships with companies in
the region, said Bregier.
In China, where the compaTianjin for the current generation of the A320 family of aircraft, he added there remains
the possibility of assembling the
upgraded re-engined A320neo
Reuters
from the European planemaker
added that they were optimistic
about more orders from the region’s full-service carriers and
budget airlines despite ongoing concerns about the health
of emerging markets, many of
which are located in the Asia-
the 20 years to 2032, said Airpected to more than double to
over 12,130 jets, based on av-
variant.
Airbus has also been promoting a “regional” variant of its
A330 widebody aircraft, which
it says will suit services between
high-demand
slot-restricted
airports in countries like China.
Airbus is also on track to deways by the end of 2014, said
Bregier.
The company also announced
that Vietnamese low-cost carriorder for 63 A320 family of aircraft.
Reuters
Myanmar Summary
tm&Sypdzwa'owGi;f &Sd tvsitjref
d f
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k f H
wGi;f avaMumif;c&D;onfrsm;ydrwk;d wuf
k kd
rsm;jym;vmaomaMumifh vmrnfhtESpf
20 twGif; 0,fvdktm;udk qufvuf
jrifhwufvmEdkif&eftwGuf qufvuf
zefwD;ay;oGm;Edkifvdrfhrnf[k Airbus
wm0ef&SdolwpfOD;u ajymMum;cJhonf/
Oa&my&Sd av,mOfxkwfvkyfonfhvkyf
ief;wpfckjzpfonfh Airbus xHrS tm&S
ypdzwa'oEdiirsm; av,mOfrm,lrI
d f
k f H
S
onf 2013 ckEpwif ydrwk;d wufrsm;jym;
S f G k kd
vmcJhaMumif; od&onf/
vuf&SdtcsdefwGif tm&Sypdzdwfa'o&Sd
zGHUNzdK;qJaps;uGufrsm; a&&SnfwnfwHh
zGUH NzKd ;rIEiywfoufí pd;k &drrrsm;&Saeaomf
S hf
f I d
vnf; tm&Sypdzwa'o 0efaqmifrI
d f
tjynft0ay;onfh avaMumif;vdi;f rsm;
h
k
ES i f h p&d w f ouf omavaMumif; rsm;
rSm,lrIrsm; ydkrdkjrifhwufvmEdkifrnf[k
Airbus wm0ef&SolwpfOD;uajymMum;cJh
d
onf/
tm&Sypdzwa'otaejzifvm rnfEpf
d f
h
h S
r sm;onf avaMumif ; vk y f i ef ; ES i f h
ywfoufíta&;ygaoma'owpfckjzpf
vmrnf [kod&onf/
Microsoft Denies Global Censorship of China-Related Searches
Paul Carsten
M
icrosoft Corp denied
last week it was omitting websites from its
Bing search engine results for
users outside China after a Chinese rights group said the US
government deems politically
sensitive.
GreatFire.org, a China-based
freedom of speech advocacy
group, said in a statement on
Tuesday last week that Bing was
Chinese language search results
leader whom Beijing brands as
a violence-seeking separatist,
charges he denies.
Microsoft, responding to the
rights group’s allegations, said a
system fault had removed some
search results for users outside
China. The company has in the
-
soring the Chinese version of
internet phone and messaging
software Skype.
tem, we triggered an incorrect
some searches noted in the report but the results themselves
are and were unaltered outside
of China,” Stefan Weitz, senior
director for Bing, said in a statement emailed to Reuters.
Weitz did not say if the error
elaborate.
Microsoft sent a shortened
version of the statement to China-based media organisations
which omitted all reference to
GreatFire.org and did not address the allegations.
“There were too many points
in the original statement,” a
China-based Microsoft spokeswoman told Reuters.
Reuters reporters found that
Bing omitted several websites
that showed up on the search
engine of rival Google Inc when
in Chinese from Singapore. The
English-language search results
on both engines were similar.
China’s ruling Communist
Party sees censorship as key to
maintaining its grip on power,
recognising that social media
to air grievances and criticism
of the government, a potential
trigger for social unrest.
This censorship often means
foreign internet companies
must tread a careful path in
portunities without compromising a carefully nurtured
image as champions of open
societies and free speech.
China comply with the government’s web censorship requirements.
Microsoft has made no secret
of its aim to build a bigger pres-
ence in China, a market where
its software is widely used but
rarely paid for.
Microsoft was criticised for
censoring the Chinese version of
Skype, which it ran jointly with
Hong Kong-based TOM Group.
In November, Microsoft said
it had formed a new joint venture with Guangming Founder,
and advocacy group GreatFire.
org said Skype in China was no
longer being censored. Reuters
Myanmar Summary
Bing search engine jzifh w½kwEiiH
f kd f
jyifyrS tifwmeuftoHk;jyKorsm; tcsuf
l
tvufrsm;&SmazG&mwGif tcsuftvuf
rsm;tm; z,fcsexm;onfqonftcsuf
f
kd h
tm; rdkufc½dkaqmhzfaumfydka&;&Sif;u
jiif;qefvdkufaMumif; od&onf/
'vdkif;vm;rm;uJhodkY a0g[m&rsm;udk
&SmazG&mwGif t*Fvdyfbmompum;ESifh
w½kwfbmompum;ESpfckpvHk;wGif ,if;
taMumif ; t&m&S m azG r I & v'f r sm;tm;
tjynfhtpHkrazmfjybJ xdefcsefxm;rIrsm;
&Sda Mumif; w ½k wf Ed kif i H t ajc pd ku f
GreatFire.org u vGecJonftywfwif
f h h
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udk wkHYjyefcJhNyD; ,if;tcsufrSm pepf
rSm;,Gi;f rIaMumifom &SmazGr&v'fwcsKdU
h
I
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cJhonf/ ½dkufwmowif;XmerS owif;
axmufrsm;&SmazGawGU&Srt& pifumyl
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qdkonfhpum;vHk;onf w½kwfbmom
pum;jzifh &SmazG&mwGif Bing u
Google Inc ESifh NydKifbuf search
engine rS azmfjyonfh 0ufbfqdkuf
tcsKUd udk xdecsexm;cJaMumif; od&onf/
f f
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I D D
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a0zefrIrsm;ESifh rauseyfcsufrsm;jzpfay:
vmap&ef wGef;tm;rsm;ay;aeonf[k
xifjrif,lqaeMuonf/
14. REGIONAL BIZ
14
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
Singapore Eyes up to 40
Thai Government Admits Lack of
Boeing or Airbus Jets Power to Renew Troubled Rice Scheme
S
ingapore Airlines has begun weighing a potential
order for dozens of widebody jets as it compares Boe-
plane in an attempt to leapfrog
Airbus’s 350-seat A350-1000.
A major customer of both jetmakers, Singapore Airlines has
Europe’s Airbus A350, three
sources familiar with the matter said.
The airline is looking at a potential order for as many as 40
tially worth $15 billion at list
prices, the sources said, asking
and options for another 20.
It can convert some of those
to the A350-1000 variant for
long-haul requirements and is
seen as certain to receive counter-bids from Airbus to avoid or
blunt any Boeing order.
Airbus and Boeing both declined to comment.
Reuters
However, a decision is not imminent since the airline is keen
to closely study the Boeing 777ments with manufacturers on
a regular basis in line with our
longstanding policy to maintain
however.”
Asked about interest in the
Goh Choon Phong told Reuters
the airline was gathering information on the aircraft as a potential future replacement for
He declined to discuss further
was actively involved in talks.
“When there is something to
announce we will do so. We do
campaigns until there is a decision,” he said.
show in November. The largest
Reuters
carry 406 passengers and enter
service in 2020.
Boeing launched the latest
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February, risking further alienating farmers angry over late
payments for their current crop.
Prime Minister Yingluck Shinawatra, assailed since November by a largely urban, middle
class protest movement bent on
buying scheme will end autoathep Rattanakorn, a minister
told Reuters.
Farmers hold signs as they take part in a rally demanding the Yingluck administration resolve delays in payment from the rice pledging scheme, outside the Com-
Reuters
Myanmar Summary
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k
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tm; topfwpfzefjyefvnfaqmif&Guf
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xyftrsuxup&mrsm;jzpfvmEdionf/
f G f
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ay;&ef t wGuf qE´ j yawmif; qdk rI rsm;
jzpfyGm;cJhNyD; v,form;ajrmufjrm;pGm
aiGay;acsraemufusaerIuvnf; vESihf
I
kd
csDí &ifqdkifBuHKawGUcJh&onf/
Bangladesh Tea Output
Climbs 1.6pc to Hit Record
Ruma Paul
B
angladesh’s tea production in 2013 grew by 1.6
percent from a year earlier to a record 63.5 million kg,
said, thanks to favourable
weather.
The country has become a
net importer of tea after rankponential increase in domestic
consumption.
The record output means
Bangladesh could import less
this year to meet domestic consumption, which is rising by 4.5
percent annually, in line with
steady economic growth, and
stands now at around 65 million kg.
However, Bangladeshi buyers
imported a large volume of tea
from India in recent months,
market sources said.
Tea is sold at the country’s
sole auction centre, in the port
city Chittagong, where most of
it is picked up by domestic buyers.
ed 540,000 kg of tea, down from
1.56 million kg in 2012. Pakistan, the United Arab Emirates
and Saudi Arabia are the main
importers of Bangladeshi tea.
Reuters
Myanmar Summary
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h S f
6
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5
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&moDOwkaumif;rGefrIaMumifh ,ckuJh
odYk xkwvyEiryrmPwd;k wufvmjcif;
f k f kd f I
jzpfaMumif; od&onf/ 1990 ckESpfrsm;
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ajrmuftBuD;rm;qHk; vufzufajcmuf
wifydkYoljzpfvmcJhNyD;aemuf jynfwGif;
pm;oHk;rIjrifwufvmjcif;aMumifh vufzuf
h
ajcmuftom;wifwifoi;f onfh Ediiwpf
G
k f H
EdkifiHjzpfvmonf/ 2013 ckESpftwGif;
jynf w G i f ; vuf z uf a jcmuf x k w f v k y f r I
jrif h w uf v mjcif ; aMumifh ,ck ES pf wGif
jynfwGif;pm;oHk;rItm; jznfhqnf;&ef
twGuf vufzufajcmufwifoGif;rIudk
avQmhcsoGm;EdkifzG,fvnf;&Sdaeonf/
odkYaomf b*Fvm;a'h&SfEdkifiHrS vuf
zufajcmufwifoGif;olr sm;onf rMum
ao;rDu tdEd´,EdkifiHrS vufzufajcmuf
yrmPtrsm;tjym;udk wifoi;f cJaMumif;
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vnf; od&onf/
BTRI
A Boeing 777-9x model plane.
Singapore Airlines
onf
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,mOfrsm;udk0,f,&ef rsupusaeaMumif;
l
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T
hailand’s caretaker government said last week
it did not have the power
to renew a rice subsidy scheme
“We are just a caretaker government, which has no power
facing unrest among her Puea
Thai Party’s natural supporters
in the countryside, where many
farmers have gone unpaid for
their rice for months.
Yingluck has led a caretaker
ber, when she dissolved parliament and called a snap election
in an attempt to end the antigovernment street protests.
As a result, the government’s
spending and borrowing powers are heavily curtailed.
Chaiwat Subprasom/Reuters
spokesman for the airline said
by email.
“Any discussions with manu-
Myanmar Summary
Apornrath
Phoonphongphiphat
15. 15
REGIONAL BIZ
Myanmar Business Today
mmbiztoday.com
February 20-26, 2014
China Dashes Hollywood’s Hopes for
Greater Access in 2014
C
skirt the ban or gaining entry as
a non-US production. Reuters
hina will maintain its
strict quota for imported
Hollywood movies this
year, rejecting reports it had
planned to increase access for
Myanmar Summary
largest cinema market, the ofported.
The Hollywood Reporter
cited a source recently saying
mulling increasing Hollywood’s
quota in China to 44 from the
lion) last year. Production
companies like Viacom Inc’s
Works Animation SKG Inc have
hired Chinese actors and set up
co-productions with Chinese
mainland market.
But China’s often draconian
over the market, controlling the
Yves Herman/Reuters
year.
US studios have been taking
steps to appeal to the fast-grow-
th
domestic ventures.
China’s State Administration of
Press, Publication, Radio, Film
Cannes Film Festival in Cannes.
-
2012, when China increased the
rent level.
Hollywood has traditionally
get into the Chinese market, including creating joint-productions with Chinese partners to
2014 quota would hold in-line
with an agreement signed in
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India IT Sector Exports Seen
Picking Up Pace in FY15
Swati Pandey
E
pected to rise 13-15 per-
April, an industry lobby group
said last week, as an improving global economy encourages
banks and companies to boost
spending on technology.
are forecast to rise to as much
$99 billion, according to the
National Association of Software and Services Companies
(Nasscom).
The increase in growth rate
compares with an estimated 13
“Clearly compared to what we
saw in the industry 12 months
ago to now, we are seeing a far
more positive momentum in
our major markets,” Nasscom
Chairman Krishnakumar Nata-
lobby added.
ers.
Last month, the International
Monetary Fund raised its global economic growth forecast
years.
India’s biggest IT services
Tata Consultancy Services, have
forecast stronger growth for IT
by their main customers in Europe and the United States.
Vivek Prakash/Reuters
Myanmar Summary
Workers are pictured beneath clocks displaying time zones in various parts of the world at an outsourcing centre in Bangalore,
India.
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16. INTERNATIONAL BIZ
16
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
Barclays to Cut 12,000 Jobs,
Pays Bigger Bonuses
7,000 jobs will go in Britain; Paid out 2.4 billion pounds in incentive awards last year
Steve Slater and Matt
Scuffham
investment bank by 13 percent
B
That helped to lift Barclays’
compensation-to-income ratio
to 43.2 percent last year from
40 percent in 2012. It said it
was still aiming for a compensation ratio in the “mid-30s”.
Jenkins defended the increases, saying Barclays had to compete with global rivals to recruit
this year to cut costs and
counter falling income at its inslumped last year.
er bonuses, risking a backlash
ers who bailed out much of the
crisis.
The bank said last week that
7,000 of the jobs will go in Brit-
clean up standards and improve
returns. The bank last year targeted £1.7 billion in annual cost
savings.
It said it paid £2.4 billion ($3.9
billion) in incentive awards last
year after raising bonuses in its
Toby Melville/Reuters
The latest cuts are not concentrated in any single business
area.
kins, who took the helm in 2012
after an interest rate rigging
scandal, is pulling Barclays out
of some investment banking
was having constructive talks
with investors over pay.
“We need to recruit people
from Singapore to San Francisco. We need the best people in
the bank to drive long-term sustainable returns for our shareholders,” Jenkins said. Reuters
Myanmar Summary
Barclays Plc
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I
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Recovery Firms in Advanced Economies, Court Delays Istanbul
Led By US, Japan
Airport Project
Leigh Thomas
T
he outlook for most advanced economies is improving, with recoveries
in the United States and Japan
latest monthly leading indicator
showed last week.
The Paris-based Organisation
for Economic Cooperation and
indicator covering 33 member
countries had reached its highest level since February 2011
early signals of turning points in
economic activity, rose to 100.9
Among the major economies,
the United States’ reading improved to 101.0 from 100.9,
reaching its highest level since
nomic crisis triggered by the
bursting of a sub-prime debt
bubble.
Japan saw its indicator move
up to 101.4 from 101.3 in November, also hitting its highest
as the central bank boosts the
economy with unprecedented
monetary stimulus.
The crisis-weary euro zone
was not left out, with its reading rising to 101.1 from 100.9,
“a positive change in momentum”.
ber from November at 101.3.
The trend was less upbeat in
the major emerging markets
China’s reading stable at 99.3
and Russia’s indicator also unchanged at 99.7.
India’s reading deteriorated
slightly to 97.0 from 97.2 with
economic activity below its
said.
Reuters
Myanmar Summary
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Ozge Ozbilgin
A
€22 billion ($30 billion) project to build a
third airport in Istanbul
will be delayed for at least 10
months after a Turkish court
sought further investigation
into its environmental impact,
a group challenging the project
said.
A consortium of Turkish conning bid last May to build and
operate the airport, which Turkey hopes will become one of
the world’s largest by passenger
numbers and is championed
by Prime Minister Tayyip Erdogan. Ankara aims for it to be
The state airports authority
responded to the court ruling by
saying the project was continuing as planned.
But the head of Turkey’s
Chamber of Environmental Engineers (CMO) said the Istanbul
court had halted implementation of a positive environmental
impact report, obligatory to obtaining the green light for such
projects.
“The court halted the implementation of the report pendwhich will mean it being suspended for a minimum period
of 10 months to a year,” CMO
Chairman Baran Bozoglu told
Reuters.
The State Airports Authority
amounted to a temporary suspension.
Myanmar Summary
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17. INTERNATIONAL BIZ
17
Myanmar Business Today
February 20-26, 2014
mmbiztoday.com
Israel Takes Step towards Becoming A Gas Exporter
Australia’s Woodside buys 25 percent stake in Leviathan; Domestic production seen by 2017, exports to follow
I
srael has taken a step
closer to becoming a
come more likely.
“There will be up to 9
trillion cubic feet of gas
mains uncertain whether
after Australia’s Woodside Petroleum Ltd signed
a deal to take a 25 percent
stake in the huge East
Mediterranean Leviathan
The Australian company, considered a leader
or pipeline, Woodside’s
involvement
increases
ing LNG scheme.”
Analysts said the Levia-
natural gas (LNG) sector, signed a preliminary
agreement recently to buy
a quarter of the Leviathan
up to 720 million barrels,
pected to begin in 2015.
Pipeline Or LNG?
The biggest question
Albatross
for up to $2.55 billion.
Leviathan is estimated
to hold about 19 trillion
cubic feet (540 billion cubic metres) of natural gas,
enough to supply all of
Europe for over a year.
oped by US-based Noble
Energy Corp , which will
remain the project’s lead
partner with a 30 percent stake, while the other
groups involved, Israel’s
In this handout image provided by Albatross, The Tamar drilling natural gas production platform is seen
some 25 kilometers West of the Ashkelon shore in February 2013 in Israel.
“Woodside is one of the
leading companies in the
world in the ... development of LNG facilities.
The company brings with
for the Leviathan partner-
sell one-quarter of their
stakes to Woodside.
Avner said in a statement.
Woodside sees the Leviathan project as an im-
portant part of its strategy to diversify outside of
Australia. It is also considering projects in Myanmar and Ireland.
analysts said Leviathan
would initially serve Israel’s domestic market.
“Leviathan will be initially developed as a do-
mestic gas project with
million cubic feet per day
2017,” Bernstein research
said in a research note.
Once domestic supplies
are up and running, Bernstein said that Woodside’s
involvement in the proin form of LNG would be-
whether they will come in
the form of a pipeline or
LNG terminal.
Israel has the option to
build a pipeline to serve
Europe’s large but stagnating gas market or to
which would allow shipments to Asia’s markets,
where prices are currently twice as high as in
Europe.
Contd. P 22...
Myanmar Summary
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Contd. P 22...