PwC Myanmar Weekly Business Intelligence Issue October 2017

Transcription

1 PwC Myanmar Weekly Business Intelligence Issue October 2017

2 1. Weekly Key Financial & Business News PwC October

3 Weekly Key Financial & Business News Headlines ASEAN s largest packaging firm to start Thilawa operations next year No FDI in three sectors this fiscal year Oil and gas contracts will be revoked unless exploration is carried out DUHD Seeks Investment to Restart Housing Projects FDI in Myanmar Tops 4 bln USD in First Half of FY PwC October

4 Weekly Key Financial & Business News Headlines Singapore investors channeling private equity to Myanmar SMEs Investments needed to develop Yangon s status as regional trade hub Belt and Road shields Myanmar from Beijing s capital crackdown Yangon industrial zone gets $4.5m water project Elite Company joins LPG race PwC October

5 Newspapers Myanmar Times ASEAN s largest packaging firm to start Thilawa operations next year 09 Oct 2017 Kian Joo Group, the largest packaging business in ASEAN, is investing in a packaging plant in the Thilawa Special Economic Zone (SEZ). Construction of the plant is expected to be complete by the first quarter of next year. Malaysia-based Kian Joo is one of the biggest can manufacturers within ASEAN, manufacturing a wide range of products and providing packaging services. The group has manufacturing facilities in Malaysia and Vietnam, with its international procurement and marketing centre in Singapore. Kian Joo first expanded into Thilawa in early The company set up Kianjoo Can Myanmar (KJMM) and Boxpak Myanmar (BPMM) with an initial capital of US$16 million and $7.5 million respectively for the Thilawa project. The total investment cost is expected to amount to $75 million for KJMM and $38 million for BPMM. At a time of rising demand and promising growth prospects in Myanmar, KJMM will manufacture tin cans, aluminium cans, carry out original equipment manufacturing and packing of beverages and milk powder, while BPMM will produce carton boxes. Thilawa advantage Ooi Teck Huat, CFO of Kian Joo Can Factory (KJCF), cited ownership flexibility, locality, labour market and land lease as reasons for opting to set up its base in Thilawa. We are also attracted by the fact that we are able to have 100 percent ownership of companies we set up and we are able to have lease industrial land for 50 years with an option to renew for another 25 years, Ooi told The Myanmar Times during an interview at KJM Aluminium, one of the group s manufacturing plants in the town of Nilai, which is located in the state of Negeri Sembilan, Malaysia. Mr Ooi added that the tax incentives and labour market in Thilawa are attractive. Geographically, the SEZ is close to the port, which is important for the business because most of the raw materials have to be imported. Source: Myanmar Times PwC October

6 Newspapers Eleven No FDI in three sectors this fiscal year 09 Oct 2017 As of September of this fiscal year, oil and gas, mining and construction sectors had not yet seen an inflow of foreign investments, according to the Directorate of Investment and Company Administration. The total foreign investments in energy, agriculture, livestock and fishery, manufacturing, transport and communication, hotel and tourism, real estate, industrial development and other services sectors has reached more than US$4 billion (5.4 trillion kyat). Oil and gas sector has seen the biggest foreign investments while the construction sector sees the lowest foreign investments. According to the second five-year National Development Plan ( to ), the government plans for increased export volume by inviting foreign investment, promoting the private sector, transforming regional development projects into the commercial ones and ensuring private investments that benefit the people. Under the plan, the government would review restrictions that hamper the inflow of foreign investments, reduce costs and land prices, ensure access to electricity and develop transport infrastructure. In addition, the government would encourage the massive influx of foreign investments by developing local financial systems and monetary policies, creating investment opportunities, giving the nod for JV, BCC, BOT and investments in regional development projects. From to fiscal year, the total FDI reached nearly US$ million, $ million in FY, $719.7 million in FY, $205.7 million in FY, $984.8 million in FY, $329.6 million in FY, $19999 million in FY, $ million in FY, $ million in FY, $ million in FY, $ million in FY, $ million in FY, $ million in FY, $4137 million in FY. Source: Eleven PwC October

7 Newspapers Myanmar Times Oil and gas contracts will be revoked unless exploration is carried out 10 Oct 2017 Energy firms with permission to conduct offshore oil and gas exploration activities in Myanmar will have their contracts cancelled next year if they do not progress from the initial study period to actual exploration, sources from the Ministry of Electricity and Energy told The Myanmar Times. The contracts will be rescinded if these firms do not proceed according to the contract terms. They can stop if they don t want to continue. If they want to drill, they will have to drill by next year and if they don t drill, we will revoke the contract. If they want to conduct further surveys without drilling, they can also do so, the sources said. International oil and gas companies are given permission to explore for oil and gas in Myanmar after signing Production Sharing Contracts (PSC) with State-owned Myanma Oil and Gas Enterprise (MOGE), which controls the rights to the country s offshore oil and gas blocks. The last PSCs were signed during 2014 and early Starting from 2015, the companies were granted study periods of up to one year for shallow water blocks and two years for deep water blocks. Since then, the one-year study periods for shallow-water firms have already expired in 2016, while the firms with two-year study periods will expire by the end of If they fail to honour their commitments going forward, the financial guarantees deposited at the Ministry of Electricity and Energy will be forfeited, the sources said. During the study period, firms will have to conduct surveys according to their commitments, which were submitted during the tender bidding rounds.the study period is followed by the exploration period of up to six years. During this period, surveying activities, which include seismic tests, processing and interpretation have to be done before a location to drill is selected. There are many companies which have implemented the study period, including Shell Myanmar Energy Pte Ltd, Woodside Energy(Myanmar), ENI Co, BG Asia Pacific and Statoil. Source: Myanmar Times PwC October

8 Newspapers Myanmar Business Today DUHD Seeks Investment to Restart Housing Projects 10 Oct 2017 The Ministry of Construction s Department of Urban and Housing Development (DUHD) announced on September 3 that it has invited private developers to participate in two affordable housing projects in Yangon, in an effort to keep the projects viable. The government-backed projects to build thousands of affordable apartments in Yangon were put on hold earlier this year because of a shortage of funds. Construction at two $455m projects in Ayeyarwon and Yadanar, comprising 49 high rise buildings, have been suspended since early this year, the Department of Urban Housing and Development said. The projects, launched in 2012, aim to provide almost 20,000 apartments for a unit cost of K60m, to house approximately 100,000 people. Officials from DUHD said the projects, which are 40% complete, are part of a pledge by DUHD to build up to 1 million housing units in Myanmar s most populated areas by Any interested developers can hold formal talks with DUHD officials at two project areas in Dagon Seikan Township. State owned Singaporean firm Surbana, acting as a consultant for the two affordable housing projects, signed a deal to advise Myanmar s construction industry as it attempts to build one million affordable homes by 2031, under a scheme trumpeted by the NLD-led government. The Myanmar subsidiary of Surbana, Jurong, will be the lead technical consultant for the low cost and affordable projects to the Myanmar Construction Entrepreneurs Association (MCEA), after the two parties signed a memorandum of understating early this year. Surbana International Consultants (Myanmar) says it will assist MCEA by employing technology that minimizes construction time and costs without compromising design, safety and functionality. Source: Myanmar Business Today PwC October

9 Newspapers Myanmar Business Today FDI in Myanmar Tops 4 bln USD in First Half of FY Oct 2017 Foreign Direct Investment (FDI) in Myanmar totaled over 4.3 billion U.S. dollars in first half of Fiscal Year , increasing by 3 billion dollars compared to the same period of Fiscal Year , the official Global New Light of Myanmar reported Saturday. FDI usually enters into the country's agricultural, livestock and fisheries, manufacturing, power, transport and communication, hotel and tourism and real estate sectors. Meanwhile, nine foreign enterprises with 403 million dollars to create 3,200 job opportunities have been recently permitted by the Myanmar Investment Commission (MIC). The MIC mainly grants permits for investment in 10 prioritized sectors - agriculture, livestock production, breeding and production of fishery products, export promotion industries, import substitution industries, power sector, logistics industries, education, health, construction of affordable housing and establishment of industrial estates. In FY , the country attracted over 6.8 billion dollars foreign investment with the transport and communication sector topping with 3.08 billion dollars. In accordance with the Foreign Direct Investment Promotion Plan (FDIPP), the country is expecting about 6 billion dollars of FDI in FY , aiming to reduce poverty and to promote economic development in the country. Source: Myanmar Business Today PwC October

10 Newspapers Myanmar Times Singapore investors channeling private equity to Myanmar SMEs 11 Oct 2017 Credera Group, a Singapore private equity (PE) firm, is raising a $100 million PE fund to invest in greenfield ventures in the finance, manufacturing and consumer product sectors in Myanmar, according to DealStreetAsia The PE firm is currently in advanced talks with stakeholders in those areas and a lot of the deals are getting closer to fruition, Gaurav Manghnani, CEO of Credera Group was reported as saying. Despite over 250 microfinance institutions and banks in the country, small and medium enterprises (SMEs) in Myanmar often face challenges in obtaining the funds they need to expand owing to stringent bank loan regulations and under-developed financial infrastructure. It is this gap in the SME lending space that Credera Group is betting on. Currently, the PE firm is already in the process of teaming up with an Indian non-banking financial company as a strategic partner to co-invest and set up an equipment finance venture in Myanmar. It also sees opportunities in the import substitution space, saying that the most lucrative investments can be found in this sector. It is currently looking to set up a sugar factory in Karen State and is also been evaluating possible investments in the cement manufacturing sector. Education and healthcare are two other spaces of high interest to Credera Group. DealStreetAsia reports that the PE firm has looked into a couple of deals in the higher education space and is likely to expand its venture with a young professional team of entrepreneurs of Myanmar. In the healthcare space, Manghnani said Credera is more interested in niche services than hospitals. It is reported to be searching for a potential local partner to invest in this space as well as operating partner that understands the dynamics of Myanmar. Source: Myanmar Times PwC October

11 Newspapers Myanmar Times Investments needed to develop Yangon s status as regional trade hub 11 Oct 2017 Plans are underway for Yangon, Myanmar s largest city, to be developed into a regional economic and trading hub, Yangon Region Chief Minister U Phyo Min Thein told representatives from the Oxford Business Group (OBG) on October 9. There are opportunities for Yangon to become a gateway hub for its landlocked neighbours by enabling them to gain access to international markets through the Port of Yangon, for example. The city can also leverage on its status as the country s commercial and trading hub to draw business activity and growth. To achieve this, the city will need to invest in improving its current transportation infrastructure, U Phyo Min Thein told OBG. The research firm met with the chief minister as part of its work on a fifth in-depth report on the Myanmar economy. Yangon s infrastructure has not kept up with its growing population, and this is now putting pressure on the city s management and public service providers, said U Phyo Min Thein. Traffic congestion is a major problem as a result of poor road connectivity and conditions, for example. So far, the Yangon government has already launched a centralised city bus and water taxi network to provide commuters with an affordable means of transport, while work on upgrading its Circular Train System is expected to start soon. Industrial opportunity Yangon can also raise its attractiveness as an industrial and manufacturing hub by expanding existing production and storage capacities, U Phyo Min Thein said. In fact, the Yangon government is planning to create twelve new industrial zones in the region to boost manufacturing and attract investments, he said at the Union of Myanmar Federation and Chamber of Commerce and Industry meeting last week. Source: Myanmar Times PwC October

12 Newspapers Myanmar Times Belt and Road shields Myanmar from Beijing s capital crackdown 11 Oct 2017 BEIJING S recent crackdown on outbound investments does not affect Myanmar because of its involvement in the Belt and Road Initiative (BRI). The sectors targeted by the restriction do not concern investment projects here, which are mostly infrastructure and energy-related. The Chinese government is blacklisting businesses which violate foreign investment rules as part of a broader crackdown on irrational and unauthentic overseas acquisitions, stated China s state-run China Daily on September 14. In recent months, the Chinese government has stroke against highly acquisitive private enterprises and has criticised some of the most renowned companies which acquired massive foreign assets. The Financial Times argued on August 9 that the crackdown on overseas investments has resulted in uncertainty in private sectors as to what M&A activities are permitted. Chinese M&A leaders conglomerate HNA Group, real estate and entertainment giant Dalian Wanda, insurance leader Anbang and consumer conglomerate Fosun have been targeted by well-placed leaks and state media innuendo, according to the FT. Anbang s chair Wu Xiaohui has been detained by the authority since June. Data from Dealogic suggested that HNA Group, Dalian Wanda and Anbang were among the top six overseas buyers. The three giants, together with Fosun, accounted for almost a fifth of China s overseas purchases in The Myanmar Times has not found direct involvement of the four companies in any largescale investments in Myanmar. No impact on Myanmar Experts told The Myanmar Times that Beijing s crackdown on acquisitive conglomerates to restrict capital outflows does not target Belt and Road projects and is not expected to affect investments in Myanmar. In contrast, M&A activities linked to President Xi Jinping s signature foreign policy are surging. Source: Myanmar Times PwC October

13 Newspapers Myanmar Times Yangon industrial zone gets $4.5m water project 13 Oct 2017 Yangon Regional Chief Minister U Phyo Min Thein approved a US$4.5 million (K6.14 billion) water purification project funded by the United Nations Industrial Development Organization (UNIDO) for Shwe Lin Ban industrial zone. The United Nations Industrial Development Organization observed factory zones in Myanmar for three years. Our zone has been selected for the implementation of the purification project, said U Aye Thaung, president of Shwe Linn Ban industrial zone committee, meeting once every three months, on October 11, Yangon government has approved UNIDO s aid to implement the water purification project at the Shwe Lin Ban industrial zone, located in Hlaing Tharyar township, as a pilot project. The starting date remains to be communicated, said U Aye Thaung. He also warned factory owners of polluting water in the vicinity, which leads to foul smell and smoke that damages the environment. This relates to the banning of hundreds of liquor factories nationwide as part of the government s strategy to protect the environment. Yangon City Development Committee s (YCDC) officer in charge of population control and cleansing department U Maung Maung Lwin, said those disobeying the rules on environmental protection can be fined. Earlier there were no problems as there were only a few factories and they were new. Now the factories must repair their waste management system if it affects the workers and public, U Aye Thaung said. He added, that only a few factories generate waste water and are responsible for the pollution. The Shwe Lin Ban industrial zone, which was created 12 years ago, comprises over 300 factories. Source: Myanmar Times PwC October

14 Newspapers Myanmar Times Elite Company joins LPG race 13 Oct 2017 Elite Company has been granted permission to distribute Liquefied Petroleum Gas (LPG) in Myanmar, director of State-owned Myanma Petrochemical Enterprise (MPE) U Aung Myint told The Myanmar Times after a press conference on October 12. LPG is a flammable mixture of hydrocarbon gases used as a substitute for electricity in cooking. Elite Company will start importing LPG by the end of this year, after construction of its LPG storage tank and jetty at the Thilawa Special Economic Zone (SEZ) is complete. After safety inspections are carried out by the Ministry of Electricity and Energy (MOEE), it will issue the relevant license permitting Elite Company to import and distribute LPG. We ve reached most of agreements for signing contract. But we will need to negotiate further for details, said U Aung Myint. Owned by the son of Pyithu Hluttaw speaker Thura Shwe Mann, Elite Company is the second company that has been granted permission to import and distribute LPG in the country in recent months. Last month, State-owned Parami Energy Service Co beat nine other firms to win the rental tender for the government s No.1 Refinery in Thanlyin. Unlike Elite Company, which is building its own storage facilities, Parami Energy is hiring a government-owned storage tank and jetty for K6.4 billion under a one-year contract. A third firm, APEX Co, already has a jetty and has recently been permitted to do business, U Myint Aung said. After getting a recommendation from the Yangon Region Government, the firm will start implementing its operations. The government is currently considering allowing another firm, Myanmar LPG Company, to begin operations, The Myanmar Times understands The government is aiming to replace electricity with LPG as a fuel for household cooking. If widely used, LPG can reduce the use of firewood as well as electricity, which will help to conserve the environment Source: Myanmar Times PwC October

15 2. Weekly Investment News PwC October

16 Weekly Key Investment News Headlines Myanmar-focused PE firm Credera looks to set up greenfield ventures in finance, healthcare and education Myanmar insurance players eye JVs with global firms as sector prepares to open up Myanmar group Dagon International takes 14% stake in Burst Networks data centre TPG divests 50% stake in Myanmar Distillery Company to Thai Beverage Transparent information flow key to uptick in M&A deal flow in Myanmar: Thura Swiss PwC October

17 Newspapers Deal Street Asia Myanmar-focused PE firm Credera looks to set up greenfield ventures in finance, healthcare and education 09 Oct 2017 Credera Group, currently raising a $100 million private equity fund focused on Myanmar, is betting on strategic greenfield ventures in finance, manufacturing and other consumer spaces to forge new deals in the country. The PE firm is in advanced talks with stakeholders in these identified areas, said Gaurav Manghnani, CEO, Credera Group. We remain committed (to Myanmar), We have been working on these deals and a lot of them are getting closer to fruition, he added, speaking to DEALSTREETASIA on the sidelines of the Asia PE-VC Summit As a pre-consumer market, Myanmar is still in the process of building its infrastructure. It is, therefore, a challenge for investment firms to find promising startups that need growth capital or are ready to be acquired. Credera sees the gap in the SME lending space in Myanmar as a big opportunity. Despite over 250 microfinance institutions and banks, SMEs in the country often find it difficult to secure loans to further their growth. We are getting very close to putting together our NBFC deal structure, said Manghnani. The PE firm is in the process of teaming up with an Indian NBFC as a strategic partner to co-invest and set up an equipment finance venture in Myanmar. We will shortly be applying to the central bank for the necessary permissions, he said. Potential for import substitution Credera Group also finds the area of import substitution in Myanmar having infinite potential. I think the most lucrative investments and the biggest need for Myanmar first is import substitution, Manghnani said. The firm has undergone advanced discussions with the leadership in Karen state and is looking forward to potentially set up a sugar factory in the region. It has also been evaluating possible investments in the cement manufacturing sector but a decision could take more time due to the slowdown in construction related work across the country. Source: Deal Street Asia r-focused-pe-credera-group-close-nbfc-dealstructure-looking-import-substitutionhealthcare-edu-spaces-83685/ PwC October

18 Newspapers Deal Street Asia Myanmar insurance players eye JVs with global firms as sector prepares to open up 10 Oct 2017 As Myanmar stands on the verge of liberalising the insurance sector, local players are ready to forge ventures with global companies to cash in on the potential of the under-served market. Myanmar, which allowed private insurance companies to enter the market in 2013, is currently represented by one state-owned player (Myanma Insurance), 11 private firms while 20 foreign firms have representative offices in the country. It is a wait and watch period as it is not clear if Myanmar would allow foreign companies to enter via the joint venture route or open up the sector for 100 per cent foreign investment. A decision is expected by the year-end with seen as the timeline for the space to open up. From the regulatory side, the Insurance Business Regulatory Board (IBRB) which controls rating, policy terms and conditions, and commissions was set up in 2016 led by the deputy minister of the Ministry of Planning and Finance. The Myanmar Insurance Law passed in 1993 is also in the process of getting amended. Majority of local insurance companies have indicated that they prefer foreign companies to join the market through a JV set up. Local companies have already started preparing for the insurance sector reforms with a few of them inking Memorandum of Understanding for technical collaboration and knowledge sharing with foreign counterparts. Citizen Business Insurance Public Ltd has signed an MOU with Thailand s Muang Thai Life Assurance Public Company and Canadian insurance firm Manulife Financial Corporation. Grand Guardian Insurance Public Co Ltd is known to have signed an MoU with Tokio Marine Asia. As CB, we have decided to enter a JV with somebody. We are looking out for the right partner, said Thaung Han, managing director of Citizen Business Insurance Public Ltd. Source: Deal Street Asia PwC October

19 Newspapers Deal Street Asia Myanmar group Dagon International takes 14% stake in Burst Networks data centre 12 Oct 2017 Myanmar conglomerate Dagon International Limited has picked up 14 per cent stake in broadband and data services provider Burst Networks Thilawa data centre project, a top executive of Dagon said. Burst Networks is planning to build Myanmar s first tier IV data center in Thilawa Special Economic Zone (SEZ) in Yangon region. Dagon International made this investment in the firm about eight months ago. We are interested to invest in companies (including tech-based firms) that could create synergies to our main business, said Thurane Aung, CEO of Dagon International during an interaction with this portal. Aung declined to disclose the quantum Dagon invested in Burst. He said, Burst recently had secured a network facilities service (individual) licence from the Ministry of Transport and Communications. In August 2016, Burst received the approval of the Myanmar Investment Commission to build an ecentre and provide services like hosting, colocation, broadband, unified communication services. Burst is also planning to position itself as a major player in operating satellite services. DEALSTREETASIA reported last year that Burst Network was raising $12 million out of which they plan to use $8 million for the data center, civil works and satellite equipment. The remaining $4 million will be for the operations, expanding satellite and wi-fi networks in Myanmar. It has received commitments from existing partner Campana, for civil works and installation from Flexenclosure while 1-Net Singapore will reportedly support Burst s data center. Dagon International, a subsidiary of Dagon Group of Companies, was established in 1990 by Win Aung, chairman of the group. Having 15 member companies, the group is a major player in real estate, construction & engineering, hospitality management, retail, food, agriculture, petroleum and power. Thurane Aung said, their group is focussed on three sectors: logistics, food and power. Source: Deal Street Asia PwC October

20 Newspapers Deal Street Asia TPG divests 50% stake in Myanmar Distillery Company to Thai Beverage 13 Oct 2017 U.S. headquartered private equity major TPG on Friday said that it had exited Myanmar s largest spirits maker by selling its 50 per cent stake to Thai Beverage Public Company Limited. No financial terms were disclosed. Thai Beverage is among Asia s leading spirits groups. The Fort Worth, Texas-based firm had paid between $100 million and $200 million to international investors to buy half of Yangon-based Myanmar Distillery Co (MDC) that is known for brands such as Grand Royal Whisky and Hero Whisky, in November-December Founded in 1995, MDC is the largest spirits company in the country, and produces whiskey, rum, gin and wine coolers, which are sold through 1,300 wholesalers and over 20,000 retailers. It currently employs more than 2,500 staff, and has manufacturing facilities in Yangon and Mandalay. MDC was the private equity firm s second investment in Myanmar. TPG had earlier invested in Apollo Towers, and since then, the latter had received additional support, including a long-term financing facility from the Overseas Private Investment Corporation. Its other investments in Southeast Asia include 8990, BFI Finance, PropertyGuru, and Vietnam Australia International School. When we invested in MDC, we were excited to be partnering with a market leader that had an experienced management team and an extensive, nationwide network. TPG was pleased to have had an opportunity to support them and introduce new initiatives to improve operations and earnings in areas such as lean manufacturing, e- procurement and branding. These initiatives resulted in considerable growth in the business over a short period of time, Ganen Sarvananthan, Partner at TPG, said in a statement. Source: Deal Street Asia PwC October

21 Newspapers Deal Street Asia Transparent information flow key to uptick in M&A deal flow in Myanmar: Thura Swiss 13 Oct 2017 While the intensity of deal-making may be lower compared to other Asian economies, Myanmar does have an active pipeline and many sectors are flush with opportunities, according to Yangonbased advisory firm Thura Swiss vice-president (business development) Nicholas Thibeault. Some of the main hurdles to deal-making include lack of transparent information flow and policy frameworks. The M&A scene is expected to be more buoyant with the Companies Act amendment, that will define foreign-owned companies as those where foreign ownership exceeds 35 per cent. This will make it much more easier for local companies to attract international funding and expertise. In an interview with DEALSTREETASIA, Thibeault talks about Myanmar s M&A scene, challenges to dealmaking and the importance of capacity building on valuation matrix. Thura Swiss is in the process of helping Swiss-based startup enabler, Seedstars Group, for capital raising and market entry while it is also currently offering M&A advisory to foreign and local companies in the logistics, oil and gas and construction sectors. The intensity of deal making is obviously lower at the moment than that of other South East Asian countries. However, there are plenty of deals happening and plenty more in the pipeline. Many MNCs and investors are intrigued by Myanmar as a last frontier economy but are not necessarily ready to deploy capital here as they still see risk as too high. However, private equity with a larger risk appetite have opened offices in Myanmar along with an increasing number of local funds, who are much further along in the process and are able to effectively source deals. As an advisory firm, we are trying to increase the intensity by working with local companies that we think are attractive, while advising inbound investors on the opportunities available and supporting them through the process. Currently, there is a disconnect between what foreign entrants expect and what is realistic regarding ticket size, deal process and availability of information. Source: Deal Street Asia r-expects-see-leverage-ma-near-term-82042/ PwC October

22 3. Weekly New Tenders PwC October

23 Tenders (Myanmar Government) List No applicable Tenders announced for the week ending 13 th October 2017 Note: tenders information are collected from and PwC October

24 Tenders (Multilateral organizations) List Strategies for Financing Social Protection to Achieve Sustainable Development Goals in Developing Member Countries, Closing Date : 20 th Oct 2017 SC MYA: Housing Market Study in Yangon Region (Financial Sector Specialist), Closing Date: 16 th Oct 2017 SC MYA: Housing Market Study in Yangon Region (Housing Finance Specialist), Closing Date: 16th Oct 2017 SC MYA: Housing Market Study in Yangon Region (Legal Expert), Closing Date: 16th Oct 2017 SC MYA: Housing Market Study in Yangon Region (Legal Expert), Closing Date: 16th Oct 2017 Note: tenders information are collected from PwC October

25 4. MIC Permitted Projects PwC October

26 MIC Permitted Projects (Meeting 14, 2017) No. Name of Company Type of Investment Form of Investment 1 International Bulk Terminal (Thilawa) Co., Ltd Construction and operation of a river port terminal and related warehouse, silo and other logistics facilities Joint Venture PwC October

27 5. Upcoming Events PwC October

28 Upcoming Events (October 2017) List Date Location Name of Event Sector Price Focus Points Oct 2017 Yangon Mining Myanmar Mining Free This event showcases product from Minerals, Metals & Ores industry. This event showcases product from Minerals, Metals & Ores industry. like will provide companies with opportunities to see first-hand the potential in Myanmar's Mining sector Oct 2017 Yangon Electric, Power & Renewable Energy Power Free Showcases product from Electronics & Electrical Goods, Power & Renewable Energy industries etc. in the Electronics & Electrical Goods, Power & Renewable Energy industries Oct 2017 Yangon Oil & Gas Myanmar Oil & Gas Free Opportunities and difficulties facing in Myanmar Oil & Gas Industry as it embarks on its exciting new phase of growth. PwC October

29 Upcoming Events (November 2017) List Date Location Name of Event Sector Price Focus Points Nov 2017 Yangon Myanenergy Energy Free Show exhibits a wide range of latest technology aided products and equipment related to the power industry. The leading industrialists will be present in this show to exhibit the respective range of modernized and productive range Nov 2017 Yangon Myanwater Water Free Will provide a platform to the technical and professional experts related to waste management industry. Attendees will get a scope to improve and enhance their knowledge by attending this international trade show 29 Nov 2017 Yangon Myanmar Satellite Forum & Exhibition Technology $750 An opportunity for the global and regional satellite industry to meet with invited guests from Myanmar in broadcasting, B2B, government and homeland security. The Forum is part of the CommuniCast Myanmar event. PwC October

30 PwC Myanmar Business Intelligence Publication For further information please contact: Jovi Seet Senior Executive Director Brandon Lye Director 2017 PricewaterhouseCoopers Myanmar Co Ltd. All rights reserved. In this document, PwC refers to PricewaterhouseCoopers Myanmar Co Ltd, which is part of the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. 30