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6,593 Posts
Telkom Indonesia throws hat into Myanmar ring
1 Mar 2013
The Jakarta Globe reports that Indonesia’s largest telecoms operator by subscribers and revenues, PT Telkomunikasi Indonesia (Telkom), has joined the growing list of companies and groups interested in seeking investment opportunities in the Myanmar telecoms market. Telkom strategic portfolio director Indra Utoyo is quoted as saying that the company is taking part in a tender to purchase a mobile operator’s licence in Myanmar, following the local government’s January announcement seeking expressions of interest (EoI) for licences. Speaking in a conference in the capital Jakarta, Indra confirmed the official position noting: ‘We see Myanmar as having great potential, as the mobile penetration rate currently only stands at 5%’. However, the official stopped short of providing an assessment of the likelihood of Telkom securing a concession, pointing out that the Myanmar has set a high standard for applications. The Indonesian firm’s EoI joins a growing list of applicants for various types of licences, that also includes SingTel, Telenor, Axiata, ST Telemedia, Bharti Airtel and Thai firms Advanced Info Service (AIS) and True Corp.

6,593 Posts
Indonesia’s Antam Seeks to Open Gold Mine in Myanmar
March 26, 2013
Indonesia’s state-controlled gold and nickel miner Aneka Tambang on Tuesday said it was seeking to mine for gold in Myanmar this year as soon as it secures a permit from the Burmese authorities.

The president director of the company better known as Antam, Alwinsyah Lubis, said the miner was among Indonesian state-run companies seeking to expand their businesses in Myanmar.

“It’s true, we’re now conducting a survey in the region we’ll explore. There’s already a concession for gold mine, but we just started applying for the permit. We’re working on obtaining [the permit] this year,” Alwinsyah said in Jakarta.

He added that Antam was planning to partner with a local company to operate the Burmese mine, although it was yet to secure any deal with a potential partner.

“We’re still talking with the government,” Alwinsyah told Indonesian news portal “They said that was a good area, but it may be not. We still have to do the exploration.”

6,593 Posts
25 March 2013
State-owned cement producer, PT Semen Indonesia (Persero) Tbk (SMGR), will gradually expand its wings in Southeast Asia by exploring to build up a new cement plant with a production capacity of 1 million tons per year in Myanmar.

President Director of Semen Indonesia Dwi Soetjipto on the seminar entitled 'the role of the Indonesian Cement industry in the economic development of Indonesia and Asia' in Jakarta on Monday said that the Company hopes the investment can be implemented next year in Myanmar.

"This year, the Company will work on the partnership issue. Then, SMGR will build the plant next year and 3 years after, which is in 2017, we will start the operantion," he said.

For the corporate action in Myanmar, the company will hold a local partner, he said. Allocation of funds will be disbursed is US$200 million or about Rp1.9 billion.
"We need as much as US$ 200 million for its investment value. Of US$ 140 million - US$160 million will be taken from loan facilities, while US$40 - US$50 million from internal," he explained.

6,593 Posts
Myanmar allows three Indonesian state-owned enterprises to enter:cheers:
Wednesday, 03 April 2013
Three Indonesian state-owned enterprises have obtained operational license to enter Myanmar, Minister of State-owned Enterprises, Dahlan Iskan, stated. The three companies are PT Wijaya Karya (Wika), PT Timah, and PT Semen Indonesia.

"They are ready to open their business in Myanmar. As a preliminary step, they will open a branch," Iskan said on Tuesday. The three companies are among the 15 state-owned enterprises wishing to expand to Myanmar.

Wika obtains a permit to become a construction consultant as well as opening concrete factory by partnering with a Myanmar's company. PT Timah, which is engaged in tin mining, has received mining concession.

Meanwhile, PT Semen Indonesia, the Indonesia's largest cement producer, will build a new factory with the capacity of a million tonnes per year.

Liberty, Equality, Frate
121,821 Posts
Myanmar asks PTT for help in upgrading old refinery

THE NATION April 4, 2013 1:00 am

The Myanmar government has approached PTT group to help upgrade an old oil refinery, which has a capacity of 50,000-70,000 barrels per day.

Meanwhile, Thailand's Neighbouring Countries Economic Development Cooperation Agency (Neda) will consider granting a soft loan of Bt1 billion to Myanmar's government as part of its request for assistance in installing power-transmission lines between Ye and Dawei to ensure national electricity security.

Thai Oil chief executive officer Veerasak Kositpaisal said Myanmar wanted PTT Group to help improve an outdated refinery. PTT will consider assigning Thai Oil to invest in the project, pending approval of the Myanmar government.

Myanmar has experienced economic growth and rising demand for oil products, but this demand is still relatively low. Given that fact, Sarun Rungkasiri, PTT senior executive vice president for oil business, said PTT had proposed to Myanmar that during the initial phase, a terminal for refined oil should be set up first. Once demand increases, the new refinery should be established.

He added that Myanmar had yet to make a decision on the PTT proposal.

Meanwhile, Neda will consider a soft loan for the Ye-Dawei power-transmission system.

Neda president Acksiri Buranasiri said the agency's board had considered a soft loan with a 1.5-per-cent interest rate and 30-year repayment term for financing the installation of 115-kilovolt transmission lines from Ye to Dawei. The loan's amount is expected to be at least Bt1 billion.

The transmission-line project is to serve both households in the areas and the development of the Dawei industrial zone to be jointly operated by Thailand and Myanmar.

Neda will also join with the Provincial Electricity Authority (PEA) to conduct a feasibility study on designing a project to improve the electricity system in North Okkalapa and North Dagon townships of Yangon.


Recently Neda granted a 30-year soft loan of Bt1 billion to Myanmar to finance the construction of a road between Myawadee and the Thai border town of Mae Sot.

PEA governor Namchai Lorwattanatraku said Myanmar needed help from Thailand to improve the electricity system, especially in North Okklapa and North Dagon, which have experienced insufficient power supply. The complete feasibility study on improving the power system in Yangon will take six months.

The PEA is hopeful that this project will pave the way for it to provide similar assistance to other neighbouring countries.

Liberty, Equality, Frate
121,821 Posts
PEA to study Myanmar power upgrade

Neda coordinates bid to meet rising demand

Published: 4 Apr 2013 at 00.00Newspaper section: Business

The Yangon Electricity Supply Board is expected to receive a 1-billion-baht soft loan to upgrade transmission lines in the former Myanmar capital to serve sharply rising electricity demand, according to a Thai development agency.

Electricity worker inspects transmission lines to ensure the efficiency of the power supply during the hot weather. (Photo by Pattarapong Chatpattarasill)

Acksiri Buranasiri, president and chief executive of the Neighbouring Countries Economic Development Agency, said Neda has hired the Provincial Electricity Authority (PEA) to conduct a study of the scheme.

Bangkok-based Neda coordinates initiatives aimed at upgrading neighbouring countries' infrastructure, partly to pave the way for Thai companies to participate in those projects.

On April 3, it signed a memorandum of understanding with the PEA for the latter to study the details of upgrading transmission lines in Yangon's North Okkalapa and North Dagon townships.

Covering 70 square kilometres, this area is packed with people and factories.

However, Myanmar's power transmission system is more than 30 years old, resulting in 30% energy loss through inefficiency as well as frequent energy blackouts nationwide, said Mr Acksiri.

For the study, Neda will provide 12.3 million baht to the PEA, which has 50 years' experience developing Thailand's power distribution system.

The study is expected to be finished within six months, after which Neda expects to provide the 1-billion-baht soft loan to Myanmar by year-end, said Mr Acksiri.

He said the upgraded system should be operating next year.

Mr Acksiri said Neda is also studying the possibility of developing a 2,000-km road link between Thailand and India via Myanmar, which could eventually be developed to link with Vietnam via Laos.

Mr Acksiri said Myanmar wants to upgrade all its ageing infrastructure including roads, water management and electricity supply. PEA governor Numchai Lowattanatakul said only 30% of Myanmar people have access to electricity.

He said the PEA stands ready to manage electricity distribution and develop supply techniques that would assist Laos, Cambodia and Vietnam.

Established in 2005, Neda supports infrastructure development by providing grants and soft loans.

It plays a coordinating role between governments and the private sector throughout Southeast Asia.

34,064 Posts
Discussion Starter · #27 ·
Bank Negara Indonesia (BNI) to open branch in Myanmar

Indonesian State-owned bank Bank Negara Indonesis (BNT) planned to open a branch in Myanmar, Indonesian Economic Cooperation Minister Hatta Rajasa said.

The BNT is conducting surveys and arrangements to launch the branch office in Myanmar, he said.

Myanmar’s officials offered the BNT bank to invest in cement production and coal power generating sectors, he added.

The minister met business associations and Myanmar President Thein Sein during his visit in Myanmar. He discussed the matters related to promotion of trade, bilateral relations and economic sectors between the two countries.

13,453 Posts
So many of my friends are visiting Myanmar. I caught up a good read on CNN and is certainly an eye-opener about this "renewed" member of ASEAN.

11 things to know before visiting Myanmar
By Kate Whitehead, for CNN
April 10, 2013 -- Updated 1543 GMT (2343 HKT)

World-renowned chef, best-selling author and Emmy winning television personality Anthony Bourdain is the host of CNN's new showcase for coverage of food and travel. "Anthony Bourdain: Parts Unknown" is shot entirely on location and airs on CNN International at 3 a.m. CET Monday (9 a.m. HK); repeated the following Saturday 9 p.m. CET (Sunday 3 a.m. HK) Follow the show on Twitter and Facebook. Bourdain's first stop: Myanmar.

(CNN) -- How do Burmese punks keep their mohawks standing tall?

Why does cash in Myanmar need to be kept clean?

What does making a kissing sound in a Yangon restaurant get you?

As recently as a year ago, few people would have cared about the answers to any of these questions.

But newfound political freedom has brought a surge in tourism to the once isolated country, making Myanmar a 2013 traveler's hot spot, and a place worth getting up to speed on.

Fall in love with Burmese food.

1. New Year celebrations last four days

The Burmese make a big deal of the New Year. Thingyan, known as the "water throwing festival," is celebrated in April. This year it takes place April 13-16.

Everything shuts down over the four-day New Year -- banks, restaurants, shops. The biggest celebrations are in Yangon and Mandalay.

During the New Year water-throwing frenzy everyone throws and sprays water at each other. Staying dry isn't an option. Water symbolizes the washing away of the previous year's bad luck and sins.

On New Year's Day, the fourth day of the festival, fish and birds are released as acts of merit and feasts are held for monks.

In recent years of privation, hard-core Burmese punks used leather glue to spike up their hair at New Year. The superstrong glue meant their mohawks stayed standing through the Water Festival, but when the party was over they had to shave their hair. These days, Burmese punks use hairspray.

Myanmar: Is now a good time to go?

2. Myanmar has fantastic beaches

Myanmar has 1,250 miles (2,000 kilometers) of coastline and some of the finest stretches of beach in Asia. Many beaches along the Bay of Bengal and Andaman Sea remain undiscovered by tourists and unspoiled by development.

Many of them face west, so they produce great sunsets.

The best known is Ngapali Beach, a 45-minute flight from Yangon, where almost two miles of white sand are lined with palm trees overlooking the Andaman Sea. Here, you'll find a number of large resorts.

Less developed is Ngwe Saung, a beautifully unspoiled beach that's a five-hour drive from Yangon. Also called Silver Beach, its eight-mile (13 kilometers) stretch makes it one of the longest beaches in Asia.

3. The Internet isn't censored anymore, but it's still slow

The Internet arrived in Myanmar in 2000, but high prices and slow connections mean it's still not widely used.

Under the former government, websites such as YouTube and Gmail were blocked, but restrictions have largely been lifted and last month Google chairman Eric Schmidt visited the country.

Far more popular than the Internet are mobile phones, though here, too, prices are high compared with other Asian countries. Local IT firms are lobbying to introduce cheaper SIM cards and a breakthrough is expected soon.

A U.S.$15 SIM card for mobile phones will be made available in June, in the run-up to the Southeast Asian Games to be held in Myanmar in December, but will be available only to foreigners.

4. You'll need plenty of cash -- and make sure it's clean

There are few ATMs in Myanmar, so visitors need to bring plenty of U.S. dollars. The higher the denomination, the better the exchange rate.

Your greenbacks should be squeaky clean -- that means no creases, stains, marks or tears. A note that's folded or even a little worn is worthless in Myanmar.

At present, credit cards are accepted only in five-star hotels and up-market shops and restaurants, usually with a 2-3% fee added to the bill. But this is changing. By the end of the year, credit cards should be more widely accepted.

The local currency is the kyat (pronounced "chat") and U.S.$1 will get you about 882 kyat. The new 10,000-kyat note (less than U.S.$12) is the highest denomination -- be prepared for a bulging wallet.

There's little worry about carrying a lot of cash. Crime against foreigners is rare and the Burmese -- the vast majority of whom are Buddhist -- are generally honest.

Myanmar records 1 million tourists, surge in tourism income.

5. A kissing sound gets you a beer

When the Burmese want to get a waiter's attention they make a kissing sound, usually two or three short kisses. It's the sort of sound you might make if calling a cat.

Walk down 19 Street in Yangon's Chinatown and you'll hear that kissing sound a lot. This narrow, pedestrian-only street is where the Burmese come to drink.

Restaurants line either side of the street and chairs and tables are set out in front.

The local brew is Myanmar Beer and it's cheap -- about 60 cents for a glass of draught.

This is prime people-watching territory and if you keep an eye out you'll spot Yangon's hip-hop royalty on the prowl.

Just don't expect to see any females. Most Burmese women -- married and single -- stay home in the evening. That's not to say Western women aren't welcome. It's understood that foreigners have different customs.

6. Hotels are expensive

Room rates shot up 350% last year, which means that a room that cost U.S.$25 a night in 2011 now goes for almost U.S.$100.

It's a simple matter of supply and demand. Since the country opened up, business travelers and tourists have been packing flights to Myanmar. There are a lot more visitors -- more than a million last year -- but roughly the same number of hotels.

More hotels are on the way, but they take time to build and the hotel shortage is expected to continue five to 10 years. Book accommodation well ahead.

A lot of hotels are renovating and since they don't want to miss out on the visitor boom, they're staying open while upgrading. When making a reservation it's worth checking to see if any work is in progress and, if so, requesting a room away from the noise.

7. The men wear skirts

The traditional Burmese dress is the longyi, a wraparound skirt worn by men and women. Men tie theirs in the front and women fold the cloth over and secure it at the side.

NLD Leader Aung San Suu Kyi is known for her beautiful longyis and tailored tops. Her high-profile appearances have helped boost the popularity of the traditional dress among young women in Myanmar.

As for what's worn underneath, that's a matter of personal preference. In the cities, Burmese men usually wear underwear beneath their longyis when they go out, but at home wear it as the Scots wear their kilts.

In the countryside, underwear is much less common -- for men and women. As one man jokingly put it: "Longyi are great. Free air-conditioning." That's a plus, especially when the summer temperature tips 104 F (40 C).

It's completely acceptable for a foreigner to wear a longyi and can be a conversation starter.

Eating out isn't a problem; choosing a place can be.

8. The food is exceptional

It's considered rude to eat with the left hand as this is the hand used for personal hygiene. To spell that out -- the left hand does the job of toilet paper.

So eating -- as well as giving money -- is always done with the right hand.

A typical Burmese meal includes steamed rice, fish, meat, vegetables and soup and all the dishes arrive at the same time.

The Burmese use their fingertips to mold the rice into a small ball and then mix it with various dishes.

As is the norm, Buddhists usually avoid eating beef and the Muslims don't eat pork.

Meals are served with plenty of condiments -- from sweet to savory -- and everyone has their preferred way of customizing a dish.

9. The trains are seriously bumpy

The poor condition of railway tracks means carriages get shaken about. This makes for a bouncy ride, but trains are still a great way to see the country.

Myanmar's trains are slow and have a reputation for running late. The most reliable route, Yangon to Mandalay, takes about 16 hours, assuming no delays.

On overnight trains, there's more chance of getting some shut-eye in an upper class seat than in a sleeper. It can get surprisingly cold a few hours after dusk, so it's smart to bring something warm to wear.

Buses are usually a faster option, but they're often crowded. Domestic flights are the most comfortable way to cover long distances and relatively cheap.

10. Yangon has a newspaper vendor on every street corner

After five decades under a repressive military regime, the Burmese are enjoying their newfound press freedom and showing a healthy appetite for news.

In the past, all publications had to submit their stories to the Press Scrutiny and Registration Division for approval. Censorship was gradually phased out in 2012 and at the beginning of this year the bureau was formally abolished.

Under the former ruling military junta, Myanmar had a reputation for jailing anyone who dared voice opposition; that included many in the media. Last year was the first year since 1996 that no journalists were jailed.

Burmese journalists who fled the country and were forced to live in exile are slowly returning.

April 1 was a landmark for the country's media. For the first time since 1964, daily newspapers were permitted. It's a big step for press freedom, but there are concerns that some of the popular weekly newspapers will struggle to make the transition to daily circulation.

11. The people with red teeth aren't vampires

Chewing betel nut is a national pastime. Small street stalls selling the palm-sized green leaves are everywhere.

The leaves are filled with hard squares of betel nut, spices and sometimes a pinch of tobacco and then folded up and popped in the mouth and chewed.

You have to chew a while before you feel the mild narcotic effect of the betel nut.

At about 6 cents a wrap it's a cheap hit, but there's a downside. Not only does betel nut stain your teeth a reddish-brown, the little packages are spat out on the floor when finished -- making for messy sidewalks.

It's also highly addictive.


26,685 Posts
BTW, Foreigners will have to pay for the train tickets in US Dollars - the sleeper train from Yangon to Mandalay will cost you 50 US Dollars while the Yangon ring railway is just 1 US Dollar though ... As a rule o thumb, ensure that your 100 US Dollars notes will be new and crispy with no marks and holes ...

BTW, you can use Singaporean Dollars instead of the familiar US Dollar to exchange for Burmese Kyat ... and after may 2013, Thai Baht and Chinese RMB can be used to exchange for Burmese Kyat, thanks to the status as a closed neighbors and regular border trades

26,685 Posts

METI (Ministry of Economic, Trade, and Industry) of Japan is going to present the study on how to implement SPV to handle Dawei Deep Sea Port and Industrial Estate
METI has pointed out that Dewei Deep Sea Port will need 2 deep sea ports - One for heavy Industry and the other is for commercial port ...
The very reason for separated port is due to the fact the pollution from heavy industry such as the blaze furnace steel mill can cause harmful effect on the automobiles which are going to export to India and European/Middle East/African countries via Dawei Deep Sea Port such as bleaching of automobile colors.

Furthermore, it is necessary to set up SPV (Special Purpose Venture) to handle Dewei Deep Sea Port and Dawei Industrial estate to create more credible project - NEDA will be a representative for Thai side to reduce the burden of ITD who has to turn from the concession holder into one of the investors but NEDA need at least 100 Million Baht for this SPV ...

For the case of 8 Special Purpose Companies (SPCs), ITD is going to become at least 25% shareholders of those SPCs.

To attract more investors, the leasing of the land must be a lot cheaper to compensate for the inconvenient transportation

Dawei Development Co.Ltd. said they are going to sell the first 7 zones. So far, Zone 1 and Zone 2 are done - ready to become Fashion zone to produce shoes while Dawei Development has signed MOU with Para rubber association to invest on rubber glove factories in Zone 3 (1250 rai/500 Acre of land) to be sold on the 4th quarter of 2013 - and it will take 10 months to set up the factories but it need the signature of approval from Burmese government to start the construction of factories.

6,593 Posts
Indonesian firm plans to invest in power plant in Myanmar

Indonesia's Bukit Asam mining company is planning to invest in Myanmar's electricity sector, local media reported Monday. Bukit Asam has recently sought permission with the Myanmar government for building a coal-fired power plant in the country capable of generating 100 to 200 megawatts (mw) at a cost of about 400 million U.S. dollars , said the Myanmar Times News.

In 2012, bilateral trade between Myanmar and Indonesia reached 391.08 million U.S. dollars, of which Myanmar's export to Indonesia stood at 40.37 million dollars while its import from Indonesia was valued at 350.71 million dollars.

According to official statistics, Indonesia's investment in Myanmar amounted to 241.497 million U.S. dollars in 12 projects, accounting for 0.57 percent of the total as of February 2013 since Myanmar opened to such investment in late 1988 and standing the 14th in Myanmar's foreign investment line-up.

26,685 Posts
Goods flow in Myawady border checkpoint show a good sign for business
Eleven Myanmar
Friday, 19 April 2013 23:48

Myawady border checkpoint, one of major crossing points between Thailand and Myanmar, has collected 8673 million kyats from the start of this fiscal year until the end of February 2013, according to official record.

It was the highest amount earned in 16 years time after the trade zone is opened in 1997, according to the sources.

Thai-Myanmar border trade is the second largest border trade after China-Myanmar border trade in Myanmar.

Although illegal trading is up due to many reasons, the official trade is increased more 5 times than initial estimate.

“The small traders do business legally this year in addition to local companies and companies based in Yangon. Their imports are higher than last year. If the expenses are reduced compared with legal goods and illegal goods, the legal trade will be up,” an official from Myawady border checkpoint said.

The tax on the goods will be reduced to duty tax free with years according to the treaties between Asean countries and the tax will reduce to 93% in 2015 and 100% in 2018.

The traders expected the trading tax to reduce to fewer than 5% in border trade.

6,593 Posts
Indonesian President to visit Myanmar
22 April 2013
Indonesian President Susilo Bambang Yudhoyono will visit Myanmar on April 23, according to presidential staffers in Jakarta.

Indonesian daily newspaper Jakarta Globe said that the Indonesian President will make visits to Singapore, Myanmar and Brunei. He leaves for Singapore on April 22, following which he will fly to Myanmar capital Naypyitaw on April 23 for a two-day state visit where he will hold meetings with Myanmar President Thein Sein.

An Indonesian presidential adviser is quoted as saying that Yudhoyono’s visit to Myanmar is aimed at expanding ties between the two countries.

The two presidents will reportedly witness the signing of several memorandums of understanding which are related to bilateral trade, capacity building and investment.

Earlier this month, representatives of 11 Indonesian companies, as well as delegates led by the Indonesian Economic Affairs Minister, visited Myanmar and discussed investment, trade and business matters with a view to reaching US$1 billion in bilateral trade by 2016.

Meanwhile, Indonesian state-owned Bank Negara Indonesia is eyeing opportunities to open a branch in Myanmar. Another Indonesian company, the country’s largest cement producer, PT Semen Indonesia, has announced that it plans to begin building a $200 million cement plant in Myanmar in early 2014.

Indonesian construction company PT Wijaya Karya and tin mining company PT Timah have also obtained licenses to operate in Myanmar.

On March 25, Jakarta Globe reported that Indonesian state-controlled coal miner Bukit Asam plans to build a coal-fired power plant in Myanmar, which will become the biggest of its kind in the country, and has set aside $80 million to expand its business into Myanmar.

6,593 Posts
Myanmar, Indonesia sign some economic cooperation accords
Myanmar and Indonesia Tuesday signed some three accords on economic cooperation between the two countries in Nay Pyi Taw, state radio and TV reported at night.

The signing of the accords came shortly after talks between Myanmar President U Thein Sein and his visiting Indonesian counterpart Dr. Susilo Bambang Yudhoyono in the capital.

Of the accords, the first is a framework agreement on investment and trade, while the rest are two memorandums of understanding on cooperation in human resources development and on rice trade respectively.

At the invitation of his Myanmar counterpart U Thein Sein, Susilo arrived Nay Pyi Taw Tuesday for a two-day state visit to Myanmar in return to U Thein Sein's to Jakarta in May 2011 which was made at the sideline of the 18th Summit of the Association of Southeast Asian Nations (ASEAN).

U Thein Sein's May 2011 Jakarta trip marked his first overseas one soon after he became the president on March 30 of the year.

Liberty, Equality, Frate
121,821 Posts
Thai Cabinet agrees to set up high level Thai-Myanmar committee

BANGKOK, April 23 - The Thai cabinet on Tuesday moved to establish a Thai-Myanmar High Level Committee to jointly solve security problems and other issues along the border of the two neighbours.

Deputy Government Spokesperson Sunisa Lertpakawat said the Thai section of the newly-appointed committee will be chaired by the supreme commander.

The committee consists of the commanders of the three armed forces, deputy supreme commander, the chief of the joint staff, the director of the Defence Ministry's Office of Policy and Planning, director of the Directorate of Joint Intelligence, director of the Directorate of Joint Operations, the First Army Area Commander, the Second Army Area Commander and the Third Army Area Commander as well as the director of the Border Affairs Department.

Ms Sunisa said the high level committee is authorised to outline military cooperation between the two countries in order to tackle problems along the Thai-Myanmar border, particularly security issues as well as to follow up and discuss the operations of the Regional Border Committee and the Township Border Committees. (MCOT online news)


26,685 Posts
ITD is going to sign the new SPV contract with Japan for Dawei Deep Sea Port and Industrial Estate in the next few months, after dealing with 8 companies to run Dawei Deep Sea Port and Industrial Estate - road between the port and coal fire power plan along with a small hydroelectric reservoir are almost done while the big dam with water capacity of 500 million cubic meter will be done in 2016 ... and ITD has signed the contract with Shell (Thailand) to supply LNG as a fuel for power plant in addition to the coal fired power plant .. The relocation of 4000 families is still going on.

Liberty, Equality, Frate
121,821 Posts
KBank expands remittance service to Myanmar

THE NATION May 9, 2013 1:00 am

Kasikornbank President Predee Daochai, right, and U Kyaw Lynn, left, executive vice chairman & CEO of Co-Operative Bank from Myanmar, held a press conference on workers' remittance service to Myanmar via K-ATMs available nationwide, starting May 28.

Kasikornbank is expanding the channels available for its workers' remittance service, aiming to double the bank's fund-transfer service network in Myanmar.

KBank president Predee Dao-chai yesterday said the number of Myanmar workers in Thailand currently stood at around 3 million, with an additional 1.8 million expected to be granted work permits by this year-end.

The bank, in cooperation with the leading Myanmar institution, Cooperative Bank, is broadening local service areas for the remittance service offered through 880 K-ATMs nationwide and available in the Burmese language.

KBank is the first commercial bank in Thailand to offer a workers' remittance service to Myanmar. The bank introduced the service last year.

A second Myanmar bank, Asia Green Development Bank, is also offering the service in cooperation with the Thai institution.

The service ensures Myanmar workers in Thailand of safe money transfer to their home town, with a guaranteed receipt of arrival within a specified time.

Established in 1992, Cooperative Bank is one of the leading commercial banks in Myanmar and one of the four banks permitted by the Central Bank of Myanmar to receive funds transferred from Thailand, Singapore and Malaysia.

Predee said the expansion of banking partners would help increase KBank's number of remittance customers to about 100,000, from 10,000 at present. This will boost the relatively low level of fee income currently generated by the service.

The fee charged for fund transfer is Bt100 per transaction, and the maximum transfer amount is set at Bt100,000 per person per day.

Funds can be received within the same day, for transactions made before 2pm, at Cooperative Bank's 260 branches in Myanmar.


The expanded service area in Myanmar will kick off on May 28.

Predee said KBank's policy was to offer complete financial services ahead of the Asean Economic Community's inception in 2015, with the bank placing emphasis on regional connections and strategy to be a truly Asian bank.

KBank early this year opened a representative office in Yangon as a centre.

Its aim is to serve Thai businesses wishing to invest in Myanmar and/or seeking new markets for their exports.

The representative office offers a one-stop service for consultation and in-depth information in markets, trade, investment, law, major business networks, local financial institutions and global business-matching, benefiting from the bank's customer base and business networks.

Siam Commercial Bank last month cooperated with Kanbawza Bank, the leading private bank in Myanmar, to introduce a new SCB ATM fund-transfer service catering to Myanmar workers in Thailand.

Liberty, Equality, Frate
121,821 Posts
Thailand, Myanmar to sign SPV deal

The Nation May 11, 2013 1:00 am

Thailand and Myanmar will sign a deal on May 27 to set up a special purpose vehicle (SPV) to manage the massive Dawei project for a deep seaport and economic zone, said Prime Minister's Office Minister Nivatthamrong Boonsongpaisal.

The signing will take place after a meeting of the Joint High-Level Committee, co-chaired by Myanmar Vice President Nyan Tun and Thai Deputy Prime Minister Kittiratt Na-Ranong, from May 26-28 in Thailand.

Nivatthamrong, who co-chairs the Myanmar-Thai Joint Coordinating Committee, said the Thai government had assigned the Neighbouring Countries Economic Development Cooperation Agency to sign the SPV deal with a state agency under aegis of Myanmar's Ministry of Planning and Economic Development.

Thailand and Myanmar each will hold a 50-per-cent share in the SPV in the initial stage.

He added that Thailand and Myanmar each separately invited Japan to take part in the SPV but Tokyo is expected to take time to consider the case. He expects that in the future the SPV will see two more countries as shareholders besides Thailand and Myanmar. He said the appropriate number of countries taking shares in such an SPV was four to maintain a balance of interests.

The signing of the SPV will show that the project is making progress and will encourage investors to form special purpose companies (SPCs) to invest in specific areas such as roads and the seaport.

Nivatthamrong said Italian-Thai Development had continued construction work on the roads and port.

He added that Myanmar wanted to study Thailand's industrial zones to acquire information on all aspects of the Dawei project, given its size and comprehensive nature. The Thai government has coordinated with relevant state agencies to provide all crucial information to Myanmar.

The Thai state agencies have also prepared key information for potential investors to help them calculate the cost-effectiveness of participating via SPCs.

Many state agencies such as the Industrial Estate Authority of Thailand and the Electricity Generating Authority of Thailand are keen to take part in the project, Nivatthamrong said, adding that PTT might also invest in it.
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