Netherlands grant programme to develop business plan for Myanmar companies
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1 Issue 279, August 10, 2017 Thura NewsViews Politics Government-led commission rejects allegations of abuses in Rakhine A government-backed commission tasked with investigating the security situation in Rakhine State has said it found no proof of abuses by security forces in their clearance operations in response to last October s attacks. The commission, headed by former military intelligence chief and current vice president U Myint Swe, said there is no possibility of crimes against humanity, no evidence of ethnic cleansing. In his remarks at the launch of the commission s report, Myint Swe accused some people from abroad of fabricating the news about alleged abuses. The commission was investigating the situation in northern Rakhine State, which has seen heightened tensions since October, when suspected Muslim militants attacked border guards. In its security response, security forces have been accused of using disproportionate force, a charge the government and military have continuously denied. In February, the UN published a report that said that security forces conducted a campaign that very likely amounted to crimes against humanity, leading to a UN fact-finding mission that has been rejected by the Myanmar government, and has sown discord with many countries in the west. Myint Swe said the UN report was an over exaggeration of the situation on the ground. Nationalist protests broken up in Yangon and Mandalay Authorities last week moved quickly to shut down two anti-government protests, one in Yangon and one in Mandalay, in a week of heightened tensions. The protests, led by Buddhist nationalists, started on August 2 in the compound of the Maha Muni Pagoda in Mandalay and near the eastern entrance of Yangon s Shwedagon Pagoda, one of the country s most important religious sites. The protestors had called for the resignation of the National League for Democracy (NLD), who they said were not doing enough to protect race and religion in the country. They had also called for the resignation of Minister for Religious Affairs and Culture Thura U Aung Ko. According to state-media reports, 11 monks and two women were detained for taking part in the protest in Mandalay. The move comes at a time of heightened tension between the nationalist movement and the NLD government, which has acted to try and clamp down on a movement that was largely left alone under the previous government. Thura Swiss Ltd. Economic Research Shwe Hinthar B /2 Miles Pyay Road 11 Qtr. Hlaing Tsp. Yangon, Myanmar Phone +95 (0) Fax +95 (0) info@thuraswiss.com August Highlights Japan International Cooperation Agency (JICA) is to provide US$42 million worth of funding for upgrades to a road running to the Thilawa Special Economic Zone, said a local report Senior General Min Aung Hlaing is currently partaking in an official trip to Japan, where he met with Prime Minister Shinzo Abe and other senior officials On August 8, members of the 8888 Generation civil society group held an event to commemorate the 29th anniversary of the Uprising against military rule Netherlands grant programme to develop business plan for Myanmar companies Myanmar companies which have potential investment plans can invite Dutch companies to assess the technical and commercial feasibility of such investment and draft a solid business plan. Potential projects should have an envisioned investment of minimum US$ 1 million and could take place in all kinds of sectors (such as agro-food, oil & gas, automotive and logistics). There are no conditions for Myanmar companies to buy any products/services of the Netherlands companies involved in the study. Costs are taken care by the Dutch grant program. Proposals can be handed in till 19 September Thura Swiss and its Netherlands partner can support your company with enrolment.
2 Economy China in talks to sell electricity to Myanmar Myanmar s government is reportedly in talks with officials in China to buy electricity from their northerly neighbour. An article in Reuters said that three stateowned companies in China have proposed separate plans to connect Myanmar s national grid with an electricity network in China s Yunnan province. The report said that China had moved away from building their own energy projects in Myanmar most notably the billion-dollar Myitsone Dam project, which is expected to be cancelled at some point in the future and focussed on projects that fit their Belt and Road initiative, an ambitious infrastructure project that would give them influence in countries across Asia and further afield. An unnamed senior Myanmar energy official was quoted as saying that the government-to-government plans were at an early stage and that they were being driven by China. It s one of the many options we are considering, the official said. A spokesman for Myanmar s Ministry of Electricity and Energy confirmed initial talks had begun, but declined to comment further. The three companies named in the report as having submitted proposals are China Electric Power Equipment and Technology Company, China Southern Power Grid Company and Yunnan International Company. The move comes at a time when the current government is seen as forging a close relationship with the Chinese government, who have invested heavily in Myanmar in recent years and also have a close relationship with many of the ethnic armed groups involved in fighting with government troops in the north of the country. Cambodia and Myanmar discuss collaboration on Bagan and Angkor Wat The governments of Cambodia and Myanmar are reportedly looking at jointly promoting the ancient sites of Angkor Wat and Bagan in order to boost tourism in both countries. A report in Nikkei Asian Review said that tourism authorities and businesspeople from both countries have formed a working group to discuss joint promotion as well as airline and visa agreements. There are also plans to establish direct flights between Siem Reap, which serves Angkor Wat, and Nyaung Oo near Bagan, although the plans appear to be at an early stage. According to the report, Angkor Wat currently attracts about 3 million tourists per year, while Bagan gets 300,000, and an official from Myanmar s tourism promotion agency said a joint package would help boost the number of visitors to Bagan. Companies and Investments Woodside makes natural gas discovery off Rakhine coast Australian energy firm Woodside Petroleum said it has discovered natural gas at an offshore exploration sight in Myanmar. The firm said it is the third natural gas discovery it has made since 2016 in the Rakhine basin. The latest find is at the field named Pyi Thit-1, due west of Pathein, the capital of Ayeyarwady Region. This result builds on our understanding of the potential resources in the Southern Rakhine Basin and will further inform our consideration of development options, the company said in a statement. Woodside holds a 40 percent share in the block, as well as Total E&P Myanmar who holds the same amount. Local firm MPRL E&P holds a 20 percent interest in the project. Myanmar in Figures GDP (PPP): $283.5bn (2015) GDP (official ex.rate): $66.98bn (2015) GDP growth rate: 8.3% (FY proj.) Population: 51.4mn people (2014) Inflation: 11.5% (2015) Foreign trade: $22bn (2015) FDI: $64bn (31/07/2016) International reserves: $9.4bn (Dec 2015) CBM rate Kyat/$ = 1363K/1$ (10/08/17) For advertising with Thura Swiss please contact us by info@thuraswiss.com or by phone +95 (0) Please note that our advertisement contracts are based on a subscription of a minimum of 4 weeks. 2
3 Legal Box by Duane Morris & Selvam LLP The new Myanmar Companies Law In the month of July 2017 there has been significant progress in finalizing the new Myanmar Companies Law ( MCL ). The Myanmar Companies Bill ( MCB ) was submitted to Myanmar s Office of the President by U Maung Maung Win, the Deputy Minister for Planning and Finance on 20 July The MCL is intended to repeal and replace the current severely outdated Myanmar Companies Act 1914 ( MCA ). The MCA is contained in Volume IX of the Myanmar Code and is based on Myanmar s English colonial heritage. The company law provisions contained in the Myanmar Code reflect the common law principles of company law which were in existence when the provisions contained in the Myanmar Code were drafted. After Myanmar s independence in 1948, the MCA lay virtually unchanged until present day. The MCB was drafted by international legal experts with legal and financial assistance from the Asia Development Bank. The MCL will make Myanmar s company framework more in line with modern international practices and standards. Notable highlights of the MCL for foreign investors include: (i) the right for foreigners to buy and sell shares on the Yangon Stock Exchange; (ii) the right for foreigners to own up to 35% of the shares in local Myanmar companies; (iii) the introduction of more stringent directors duties; (iv) and the ability for a Myanmar subsidiary to be wholly foreign owned by one shareholder. DMS expects an uptick in M&A and capital market activity once the MCL becomes law. It is expected that the MCB will be promulgated into law before the end of Through our office in Yangon, Duane Morris & Selvam advises corporations on investment, business and regulatory processes in Myanmar. For further information, please contact Mr Krishna Ramachandra (kramachandra@duanemorrisselvam.com), Ms Babita Ambekar (bambekar@duanemorrisselvam.com) or Mr Rory Lang (rjlang@duanemorrisselvam.com) or visit Duane Morris & Selvam is recognised as a leading law firm for Myanmar related Corporate and M&A work The Legal 500 (2017). 3
4 Everex launches local partnership in Myanmar US-based computing firm Everex has announced a partnership with local lending company MicroMoney, according to industry reports. An article in The Blockchain said the move gives the California-based company access to Micro- Money s more than 450,000 users and that pilot testing has already begun on the partnership. In order to meet our contributors desires to see business-minded strategic partnerships, Everex has secured the business of nearly 500,000 new customers by forging this partnership with one of Myanmar and Thailand s leading micro-liquidity providers, Everex CEO Alexi Lane was quoted as saying in a statement. Britannia Industries eyes Myanmar market Indian food company Britannia Industries has expressed interest in expanding into Myanmar s market, as well as to enhance its footprint in Africa. An article in Indian press quoted managing director Varun Berry as saying they are targeting one new market every year including Egypt as well as Myanmar to further boost its profits. It has recently begun operations in Nepal. The article, published in The Hindu did not mention what operations it was looking at in Myanmar or specify a set date when the company would look to make the move. 4
5 Events Name Details Organizer/ Ministries Contact Information Myanmar Green Energy Summit 2017 Venue: Sule Shangri-La, Yangon Date: August 2017 Confexhub Global Water Conference 2017 Venue: Sule Shangri-La, Yangon Date: August 2017 Confexhub Builders Myanmar 2017 Venue: Tatmadaw Hall, Yangon Date: August 2017 Fireworks Trade Media Ptd Ltd +95 (0) Compack Myanmar 2017 Venue: Tatmadaw Hall, Yangon Date: September 2017 Enterprising Fairs (India), Myanmar Industries Association Myanmar Connect 2017 Venue: Myanmar International Convention Centre, Nay Pyi Taw Date: September 2017 Capacity Conference +44 (0) Propak Venue: Myanmar Event Park, Yangon Date: September 2017 UBM Myanmar +95 (0) th Asean Pediatrics Fedration Congress 2017 Venue: Novotel Max, Yangon Date: September 2017 Myanmar Pediatric Society (MPS) 17th ASEAN Otorhinolaryngology - Head and Neck Surgery Congress Venue: Melia, Yangon Date: November 2017 Kenes MP Asia aseanorl2017@kenes.com Myanmar Satellite Forum and Exhibition 2017 Venue: Novotel Max, Yangon Date: 29 November 2017 UBM Asia arayabhorn@besallworld.com
6 Tenders Ministry of Electricity and Energy: Open Tender Myanma Oil and Gas Enterprise (MOGE) under the Ministry of Electricity and Energy has invited an open tender for the supply of following items in Myanmar Kyats: No. Tender No. Description Currency 1) DMP/L-045 (17-18) 1 1/2 Pitch Five Layer Roller Chain and Offset Link (2) Items MMK 2) DMP/L-046 (17-18) Pilot Operated Working Regulator and Pilot Spring Spares (2) Items MMK 3) DMP/L-047 (17-18) ITT Barton 3 Pen Chart Recorder and Spares (7) Items MMK 4) DMP/L-048 (17-18) Rig-A Lite Lighting Accessories for EMSCO Drilling Rig (4) Items MMK 5) DMP/L-049 (17-18) 2 3/8 Drill Pipe (1000) MTR MMK 6) DMP/L-050 (17-18) Steel Wire Rope, Shackle & Clip (3) Items MMK 7) DMP/L-051 (17-18) Mini Shaker Screen for ZJ 70L& ZJ50D Drilling Rigs (27) Items MMK 8) DMP/L-052 (17-18) Spares for Cooper Servicing Truck (10) Items MMK 9) DMP/L-053 (17-18) Spares for Perkins Engine Ex Olympian Lighting Set (30) Items MMK 10) DMP/L-054 (17-18) Spares for Caterpillar Excavator (19) Items MMK 11) DMP/L-055 (17-18) Spares for Tadano Crane (52) Items MMK 12) DMP/L-056 (17-18) Spares for Volvo Tractor (20) Items MMK 13) DMP/L-057(17-18) Spares for Kobelco Excavator (10) Items MMK 14) DMP/L-058 (17-18) Spares for Nat-C (FH) Torque Converter (25) Items MMK 15) DMP/L-059 (17-18) Spares for CAT-D-333 C Lighting Set Engine (47) Items MMK 16) DMP/L-060 (17-18) Spares for CAT-D_399 Engine Ex USS Oil Well Rig (10) Items MMK 17) DMP/L-061 (17-18) Spares for Horizontal Directional Drilling Rig (40) Items MMK Tender Closing Date: (4:00 pm) Submission Place: No. 44, Myanma Oil and Gas Enterprise, Ministry of Electricity and Energy, Nay Pyi Taw. Tender rules and documents are available at Myanma Oil and Gas Enterprise, Ministry of Electricity and Energy during office hours. Detailed information can be obtained via phone under +95 (0)
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