Myanmar Highlights
January 2014
Scomi Energy Services to Supply and Equip Petronas Carigali
Malaysian listed Scomi Energy Services Bhd (SESB), (formerly Scomi Marine Bhd), has entered into two contracts with a combined value of Malaysian Ringgit 90 million with Petronas Carigali Myanmar Inc. (PCMI) and Petronas Carigali (Hong Kong) Ltd (PCML) respectively, in relation to the provision of drilling fluids, well-bore cleanout, drilling waste management equipment, materials and services in Myanmar. The contracts are for periods of three years. SESB commenced work with PCML in December 2013 and is scheduled to commence work with PCMI in July 2014. SESB has operated in Myanmar since 2003 and has provided services to international companies such as the Petronas Group, PTTEP International Limited and Daewoo International. (From world.einnews.com, 9 January 2014)
Gold-petrol Joint Operating Company Drills New Well in Chauk Oil Field
Singapore-based oil and gas exploration company Interra Resources Ltd (Interra) has announced that its jointly controlled entity, Gold-petrol Joint Operating Co Inc., has started drilling a new development well in Myanmar’s Chauk oil field. The announcement noted that the well (YNG 3263) will be drilled to a targeted depth of 2,450 feet. Interra has entered into two Improved Petroleum Recovery Contracts in Myanmar under which it holds a 60% interest in two onshore producing oil fields in Chauk and Yenangyaung in central Myanmar. Interra estimated that the results from the drilling programme should be available in approximately six weeks. (From Myanmar Business Today, 10 January 2014)
Panasonic to Sell Solar Lanterns in Myanmar through Local Dealers
Panasonic Corp. (Panasonic) has announced it will sell solar lanterns in Myanmar through authorised local dealers. The lanterns will have a retail price of Kyats 50, 000. The lanterns can be used to charge small mobile devices such as mobile phones. The battery life of fully charged lanterns ranges from six to ninety hours. Lanterns operate using a 3.5 watt solar panel and built-in rechargeable battery. The solar lantern has been designed and developed in response to problems arising out of Myanmar’s electricity shortage problem. Myanmar has a low electrification rate compared to other countries in South East Asia. Panasonic has been collaborating with various community organisations on plans to supply lanterns to rural areas with no electricity supply. (From Myanmar Business Today, 10 January 2014)
Advanced Info Service to Launch Mobile Data Service in Myanmar
Thai telecommunications services provider Advanced Info Service Plc. (AIS) has announced plans to launch a mobile data service in Myanmar. AIS expects between 200,000 -300,000 customers to use its new service. Customers will be able to choose from three packages; a one day 50MB package at a price of 6 Baht (20 U.S. cent) per megabyte; a three day 150MB package, and a five day 250MB package. AIS will also provide data usage alerts to customers. AIS is Thailand’s third largest mobile operator. It is also currently testing a roaming service in Myanmar. (From Myanmar Business Today, 10 January 2014)
Daiwa Securities Will Invest in Yangon Stock Exchange Joint Venture
Myanmar’s Ministry of Finance has announced that Japan’s Daiwa Securities Group (Daiwa) will invest Kyats 30 billion (US$30.43 million) as part of a stock exchange joint venture (JV) project in Yangon. The Government will take a majority 51% stake in the JV with Daiwa taking the remaining 49% share. A total of 105 public companies are being considered for possible listings on the new Yangon Stock Exchange, which is scheduled to commence trading in October 2015. (From Myanmar Business Today, 10 January 2014)
Hawkley Oil & Gas Announces Plans to Expand Asian Pacific Business
ASX listed Hawkley Oil & Gas Ltd. (Hawkley), has announced it plans to expand its Asian Pacific business. Hawkley will partner with Azimuth Limited (Azimuth) to bid for three shallow water off-shore blocks in Myanmar. Azimuth is an offshore focused exploration company with an interest in 37 offshore exploration licenses containing 85 blocks offshore of Norway, Ireland, UK and Namibia. (From Myanmar Business Today, 11 January 2014)
Myanmar Announces First Caustic Soda and Polyvinyl Chloride Plant
The Government has announced it plans to establish Myanmar’s first Caustic Soda and Polyvinyl Chloride plant in Mon State. Myint Aung, Deputy Industry Minister, said that the Government will invest US$100 million in the project and will allow local and international companies to develop similar facilities, all of which will be subject to strict environmental oversight. It is anticipated that the annual production capacity of the Mon State facility will be in excess of 50,000 tonnes. The facility will be built on an 87-acre site owned by the Ministry of Industry. (From MyanmarUpdate.com, 10 January 2014)
Myanmar to Host 2014 ASEAN in Nay Pyi Taw, Yangon, Mandalay and Bagan
Myanmar will spend more than US$34 million hosting international meetings and summits during its 2014 ASEAN Chairmanship. Meetings will be held in Nay Pyi Taw, Yangon, Mandalay and Bagan. The first meeting will be the ASEAN Foreign Ministers Meeting which will take place between 15 -18 January 2014 in Bagan. Business travellers and tourists are advised to consult ASEAN meeting timetables when planning visits to Myanmar. (From Myanmar Business Today, 11 January 2014)
Myanmar JVs Created for Refining Lead & Copper in Shan and Chin States
The Myanmar Investment Corporation (MIC) has announced that China’s Sichuan Henglu Industrial Company and Myanmar’s Good Plus Star Mining Company have established a joint-venture company to refine lead in Shan State. The Myanmar Ministry of Mines (Ministry) has announced that another Chinese company, the North Mining Investment Company, is preparing to make an investment in the MwayTaung Phar Taung copper mining project in Chin State and has submitted its investment proposal to the MIC. The MIC has reiterated that foreign companies operating in the extractive industries in Myanmar are required to conduct Environmental Impact Assessments (EIA) and Social Impact Assessments (SIA). As of 30 November 2013 foreign investment in Myanmar’s mining sector was US$2.8 billion. (From elevenmyanmar.com, 12 January 2014)
Gunkul Engineering Announces New Power Plants in Thailand and Myanmar
Thai engineering company Gunkul Engineering Co. Ltd (Gunkul) has announced plans to invest more than Baht 12 billion in the next two years to develop wind-power plants in Thailand and gas-powered plants in Myanmar. The investment is part of Gunkul’s strategy to transform itself from an importer and provider of electrical equipment into a power producer to the ASEAN region. Gunkul’s aims to produce at least 300 megawatts of electricity from both alternative energy and gas in Thailand and Myanmar by 2016. ( From http://world.einnews.com, 13 January 2014)
KDDI and Sumitomo May Partner with Myanmar Post and Telecommunications
Japanese telecommunications companies, KDDI Corp and Sumitomo Corp have been invited to form a partnership with Myanmar Post and Telecommunications (MPT). Mr. U Soe Kyu, Sumitomo Myanmar ‘s deputy general manager said that as part of a partnership agreement the two companies would share MPT’s existing license and that barring any unforeseen circumstances, the companies would agree the details of the partnership within a few months. The Government plans to introduce new telecommunications regulations by 2015 and also part privatise MPT. (From http://world.einnews.com, 13 January 2014)
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