PWC MYANMAR WEEKLY BUSINESS INTELLIGENCE - ISSUE NO. 207 - 05 APRIL 2020
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PwC Myanmar Weekly Business Intelligence Issue No. 207 05 April 2020
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
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05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 2
PwC Myanmar Weekly Business Intelligence
MIC
Financial and Policy and Tender Upcoming
Issue - 207, 05 Apr 2020 Business
Infrastructure
Regulation Opportunities
Permitted
Events
Projects
Infrastructure
Infrastructure
Highlights
• “On Sunday, a working committee to tackle the impacts of the global coronavirus outbreak on the
Transport
country’s economy announced that the most vulnerable sectors—CMP (garment and
manufacturing) and hotel and tourism businesses, as well as small and medium-sized enterprises • Japan to provide ¥47 billion for two infrastructure projects
owned by local businesspeople—can apply for loans from the COVID-19 fund set up by the state.” • Smart parking project temporarily suspended
• “Myanmar enacted a new insolvency law on March 25, a month after receiving Parliament • SJ Myanmar Secures 6th Contract to Manage Jetty Construction
approval. The new legislation will facilitate the government in managing and dealing with cases
involving insolvency in Myanmar and is expected to strengthen the business environment and Energy
draw more foreign investors to the country.“ • Chinese consortium may avoid fines despite missing emergency power deadline
• “The Japan International Cooperation Agency (JICA) and Myanmar’s government on Tuesday • Power shift
agreed to official development assistance (ODA) loans to contribute to economic and social
development through improvements to the railway system and electricity supply.”
Real Estate
Financial and Business • Construction contraction due to virus outbreak
• South Korean govt vows to see projects through in Myanmar
• Myanmar Govt Announces Loan Package for Coronavirus-Hit Businesses in Key Sectors
• Winners and losers at the Thilawa SEZ
• Govt to go fully online for import, export licences in Myanmar
Waste and Water
• More woes for Myanmar garment industry as EU cancels orders
• Purity and Danger, on Yangon’s streets
• Myanmar Investments agrees to sell microfinance firm MFIL to Thailand’s Thitikorn
• Myanmar Agricultural Development Bank cuts interest rates
Other Infra
Policy and Regulation • Pandemic adds to Chinese infrastructure delays in Myanmar: ICG
• Telenor follows Myanmar orders to block alleged ‘fake news’ sites
• Myanmar enacts new insolvency legislation
• Five key markets in Yangon closed
• World Bank cuts growth forecast, urges focus on health sector
• China committed to investing in Myanmar despite COVID-19 pandemic: Ambassador
• Stimulus moves win praise, but will they be enough?
05 April 2020
• In Myanmar, the 'cure' for COVID could be deadlier than the disease
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Financial and Business
05 April 2020
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Financial and Business
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Myanmar Govt Announces Loan Package for Myanmar aviation sector expected to become
Coronavirus-Hit Businesses in Key Sectors profitable, but more pain ahead first
30 Mar 2020 27 Jan 2020
YANGON—The Myanmar government has before the end of March 2018; must have had an Myanmar’s aviation industry is betting on a more tourist attractions in the future,” U Kyaw Nyein.
announced that local businesses that have been annual income for the past two years; and must profitable future with the number of airlines now Air KBZ has also been expanding. Last year, it
badly hit by COVID-19 can apply for loans as be in sufficiently stable condition to repay the reduced to half compared to 2017 and demand upgraded its fleet of planes and announced new
part of its initial stimulus package to cushion the loan. for domestic air travel expected to catch up with destinations to Dawei , Kaw Thaung , Myeik,
impact of the global pandemic on the country’s Moreover, the committee said the loans must be supply. However, they will have to swallow more Sittwe, Kyaingtong, Hkamti and Loikaw. its sister
economy. used to pay salaries and fund current business losses in the short term before things get better. airline, Myanmar Airways International, added a
On Sunday, a working committee to tackle the operations only. There are currently five airlines in Myanmar, new Airbus A319 to its fleet, expanding its
impacts of the global coronavirus outbreak on the To qualify for a loan, businesses must be down from ten three years ago. But even though capacity by 144 passengers.
country’s economy announced that the most currently active, or their operations must not there are fewer players now in the market, the Tanes Kumar, commercial director for Air KBZ,
vulnerable sectors—CMP (garment and have been suspended for more than three volume of passengers flying domestic remains said even though the new routes are not yet
manufacturing) and hotel and tourism months prior to the date of the announcement. below three million, according to government profitable, the main aim of adding new
businesses, as well as small and medium-sized Operations must be resumed immediately upon data. destinations is to expand the airline’s network
enterprises owned by local businesspeople—can the loan being granted, the committee said. At those levels, demand is not sufficient to cover and connectivity. “This gives passengers more
apply for loans from the COVID-19 fund set up The committee said qualifying businesses, the industry’s losses, U Kyaw Nyein, CEO of options and allows employees to learn new skills
by the state. whether corporations or smaller companies, must Golden Myanmar Airlines (GMA), told The for more expansion in the future,” he said.
The fund, which was created last week, not have been suspended or removed from the Myanmar Times in a recent interview.
earmarks 100 billion kyats (about US$72 million) company register. The businesses must be on But profitability is possible in the years ahead,
for those sectors, which have been recognized record as paying taxes, particularly income, making it a good time for the remaining airlines to Source: Myanmar Times
as priorities for state assistance based on their commercial and special goods taxes. accelerate their plans for expansion to capitalise
https://www.mmtimes.com/news/myanma
vulnerability to COVID-19. The interest rate on The committee will prioritize businesses that on future demand, according to a 2019 report by
r-aviation-sector-expected-become-
loans provided by the fund will be only 1 percent have contributed to the Social Security Fund. the Centre for Asia Pacific Aviation.
with a loan period of one year. Last year, GMA took delivery of a new aircraft, profitable-more-pain-ahead-first.html
The committee said the businesses can apply for taking its current fleet of ATR-72s to three. “With
the loans from March 30 to April 9. Source: The Irrawaddy the additional seats, we can now fly daily
Among other criteria established by the https://www.irrawaddy.com/news/burma/myanma compared to alternate days before. We will also
government, qualifying businesses must have r-govt-announces-loan-package-coronavirus-hit- extend our destinations to include more flights to
been licensed by the relevant departments businesses-key-sectors.html Dawei and Kaw Thaung, which could be potential
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 5
Financial and Business
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Govt to go fully online for import, export licences in More woes for Myanmar garment industry as EU
Myanmar cancels orders
02 Apr 2020 29 Mar 2020
The Ministry of Commerce has announced that it System (HS), fully online applications for 73 Update: More garment factories stopped he added.
will fully adopt online procedures for issuing began on April 1. Essential goods such as operations in Myanmar as European Union Among the garment companies that suffered
import and export permits for more than 100 pharmaceutical products, medical supplies for countries, a major export market, cancelled cancellations of orders are the Global Apparel
types of goods starting April 1, 2020, as part of hospitals, consumer goods, chemical fertilisers, orders last week amid the spread of the COVID- Textile Myanmar Co. Ltd, which no longer has
efforts to implement social distancing to stop the palm oil, and oil products, among others, are 19 pandemic, a senior industry leader said. problems with the supply of raw materials but left
spread of COVID-19 in Myanmar. included in the categories. U Myint Soe, chair of Myanmar Garment with huge inventory due to cancelled purchase
“The move is being made with the aim of According to the Ministry of Commerce, Manufacturers Association (MGMA), said the EU orders.
avoiding crowded situations, but there will be companies will be able to fill in application forms market accounts for 70 percent of the country’s Daw Sandar Min, a Yangon regional MP, said
difficulties in implementing it at first. We’ll also at the website www.myanmartrade.com.mm. garment export. another garment firm, the Lat War Co. Ltd., is
need to improve the fully online system to cope,” A spokesperson for the ministry said companies “All operations of the factories that have stuck with 500,000 pieces of garments after a
said U Khin Maung Lwin, assistant secretary at will have to register first to use the system and accepted orders from the EU have stopped. I European buyer cancelled the order. Other
the Ministry of Commerce. payments will be through Myanmar Citizen don’t know how we will deal with this issue,” he companies in the same predicaments are Gold
“We’re facing a great health risk, so the move is Bank’s (MCB) ecommerce system for the time said. Emperor, Hong Text, and Myanmar Irrawaddy.
good for companies as well as in terms of being even as and efforts are being made for The bad news came as the supply of raw The shutdown of more garment factories led to
prevention of the disease, and hopefully it will payments through the Myanmar Payment Union materials from China re-started to flow back into more labour unrest, including the strike at the
speed up the issuance of the permits,” said U ecommerce system. the country after three months of stoppage due Grand Enterprises Garment Co. Ltd at Yangon’s
San Main, a business owner. Relevant electronic data will be sent to the to the virus outbreak. East Dagon Industrial Zone on Thursday as the
“Although the application of permits online is not Customs Department to carry out a trial run with “We began to receive raw materials from China. company announced a layoff of thousands of
available for all types of goods, most of the of the Myanmar Automated Cargo Clearance We have no more raw materials problem. Now, workers.
essential ones can be applied for online. It is a System (MACCS) for the permits issued online. the EU no longer accepts our garment exports. It
good sign as the country is trying to help reduce happened since last week,” U Myint Soe said.
the spread of the disease,” he said, voicing “As COVID-19 spread in Europe, all shops
support for the move. closed there. Garment factories in Myanmar face
Of 91 sections in the internationally standardised difficulty as they told us not to make the clothes, Source: Myanmar Times
system of names and numbers to classify traded Source: Myanmar Times which they have bought, and not to ship them. https://www.mmtimes.com/news/more-woes-
products called the Harmonised Commodity https://www.mmtimes.com/news/govt-go-fully- This problem is big. That’s why, factories have myanmar-garment-industry-eu-cancels-
Description and Coding System, or Harmonised online-importexport-licences.html shut down and reduced their number of workers,” orders.html
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 6
Financial and Business
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Myanmar Investments agrees to sell microfinance firm Myanmar Agricultural Development Bank cuts interest
MFIL to Thailand’s Thitikorn rates
03 Apr 2020 03 Apr 2020
LSE-listed investment firm Myanmar Investments operations. The investment firm attributed the The Myanmar Agricultural Development Bank 10 acres of agricultural land and are issued
International (MIL) and other shareholders of decision to difficulties in raising capital and has announced that it will cut its interest rates on during Myanmar’s three climactic seasons –
Myanmar Finance International Limited (MFIL) identifying suitable investments in Myanmar, loans and savings accounts effective April 1. monsoon, winter, and pre-monsoon.
have accepted an offer to sell the microfinance given the slow pace of reform in the country and The bank said in a statement that it is cutting The bank issues loans for a total of 22 types of
business to Thai consumer finance firm Thitikorn. continued economic volatility. interest on agricultural loans from 8 percent to crops, ranging from K150,000 per acre of rice, to
MIL currently holds a 37.5 per cent stake in In December 2019, MIL sold its shares in 7pc, interest on Japan International Cooperation K100,000 per acre for sugarcane.
MFIL. Medicare International Health and Beauty for $1 Agency two-step loans from 8pc to 6.9pc, and
Thitikorn is expected to seek shareholder million. It had invested $895,000 in Medicare in interest on Myanmar Economic Bank two-step
approval for the deal on 23 April, MIL said. 2017 for a 47.1 per cent stake. loans from 9pc to 8pc.
Regulatory approval would normally take MIL’s largest investment to date is $21 million in “We thank the bank for charging lower rates. We
between two and six months to obtain, excluding telecom tower firm AP Towers. The recent welcome the move, but the interest rate
any delay caused by COVID-19. merger of Apollo Towers and Pan Asia Towers reduction isn’t going to make much difference to
“The minimum consideration for this transaction into AP Towers “is expected to produce a more the lives of farmers immediately. It will neither
will be calculated based on a pre-agreed formula efficient and profitable combined investment with improve the lives of the farmers nor help
of 2 times the audited book value of MFIL at greater prospects for an eventual liquidity event overcome the problems they are now facing. We
closing once these conditions have been for shareholders,” MIL said. face difficulties paying the interest whether it is
satisfied,” MIL said in a stock exchange filing. MIL estimated the value of its shareholding in AP 8pc or 6pc,” said U Thein Aung, chair of Farmers
“This sale is expected to lead to a modest uplift Towers was $32 million as at the end of Development Association.
in the Net Asset Value of MIL once it completes,” September 2019. In reality, what farmers need most are longer-
it added. term loans, he added.
The microfinance company was MIL’s first The bank also used to give 8pc interest on
investment in 2014. In 2015, Norwegian farmers’ savings accounts, but the bank has cut
development finance institution Norfund picked the rate has now been cut to 6.5 pc.
up a 25 per cent stake in the microfinance firm. The bank, established 73 years ago, loans Source: Myanmar Times
The business is profitable, according to MIL. Source: Deal Street Asia totalling of K1.74 trillion to farmers in fiscal https://www.mmtimes.com/news/myanmar-
MIL has been seeking to dispose of all of its https://www.dealstreetasia.com/stories/myanmar- 2018/19. agricultural-development-bank-cuts-interest-
holdings as the firm plans to wind down its investments-mfil-thitikorn-182817/ Applicants are provided loans sufficient to plant rates.html
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 7
Infrastructure
05 April 2020
8
Infrastructure Transport
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Japan to provide ¥47 billion for two infrastructure Myanmar aviation sector expected to become
projects profitable, but more pain ahead first
02 Apr 2020 27 Jan 2020
The Japan International Cooperation Agency cycle facilities at the Thilawa Thermal Power Myanmar’s aviation industry is betting on a more tourist attractions in the future,” U Kyaw Nyein.
(JICA) and Myanmar’s government on Tuesday Plant in the Thilawa Special Economic Zone, profitable future with the number of airlines now Air KBZ has also been expanding. Last year, it
agreed to official development assistance (ODA) thereby contributing to economic and social reduced to half compared to 2017 and demand upgraded its fleet of planes and announced new
loans to contribute to economic and social development. The project is expected to be for domestic air travel expected to catch up with destinations to Dawei , Kaw Thaung , Myeik,
development through improvements to the completed in 2024. supply. However, they will have to swallow more Sittwe, Kyaingtong, Hkamti and Loikaw. its sister
railway system and electricity supply. The Japanese development agency will continue losses in the short term before things get better. airline, Myanmar Airways International, added a
JICA signed the loan agreements with the to support Myanmar’s infrastructure and There are currently five airlines in Myanmar, new Airbus A319 to its fleet, expanding its
government to provide the ODA loans of up to a economic development, Sakakura Noriji, the new down from ten three years ago. But even though capacity by 144 passengers.
total of ¥47.94 billion (K607.3 billion) for the two chief representative at JICA Myanmar, said last there are fewer players now in the market, the Tanes Kumar, commercial director for Air KBZ,
projects. week. volume of passengers flying domestic remains said even though the new routes are not yet
Of the total, ¥40.6 billion will be used for the first JICA will continue to promote private investment, below three million, according to government profitable, the main aim of adding new
phase of the Yangon-Mandalay Railway infrastructure development, education and data. destinations is to expand the airline’s network
Improvement Project, while ¥7.33 billion will be human resource development in Myanmar, At those levels, demand is not sufficient to cover and connectivity. “This gives passengers more
for a third phase of infrastructure development in Sakakura Noriji, Noriji said. the industry’s losses, U Kyaw Nyein, CEO of options and allows employees to learn new skills
the Thilawa Special Economic Zone. In January, JICA signed loan agreements Golden Myanmar Airlines (GMA), told The for more expansion in the future,” he said.
The Yangon-Mandalay Railway Improvement totalling ¥120.9 billion yen with Myanmar for four Myanmar Times in a recent interview.
Project is to improve the capacity of railway projects - the Yangon Sewerage System But profitability is possible in the years ahead,
transportation by rehabilitating and modernising Development Project, Yangon Urban making it a good time for the remaining airlines to Source: Myanmar Times
the existing railway and related facilities from Development Project, Urban Area Power accelerate their plans for expansion to capitalise https://www.mmtimes.com/news/myanmar-
Yangon to Toungoo in part of the Yangon- Distribution Improvement Project, and Regional on future demand, according to a 2019 report by aviation-sector-expected-become-profitable-
Mandalay Railway thereby contributing to the Infrastructure Improvement Project. the Centre for Asia Pacific Aviation. more-pain-ahead-first.html
economic development of Myanmar. The Last year, GMA took delivery of a new aircraft,
project’s construction work is expected to be taking its current fleet of ATR-72s to three. “With
completed by 2023. the additional seats, we can now fly daily
The infrastructure development in Thilawa is to Source: Myanmar Times compared to alternate days before. We will also
strengthen the electricity supply capacity of https://www.mmtimes.com/news/japan-provide- extend our destinations to include more flights to
Myanmar by additionally installing combined y47-billion-two-infrastructure-projects.html Dawei and Kaw Thaung, which could be potential
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 9Infrastructure Transport
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Smart parking project temporarily suspended SJ Myanmar Secures 6th Contract to Manage Jetty
Construction
30 Mar 2020 31 Mar 2020
The pilot project for Yangon’s smart parking according to the designated parking spaces, Surbana Jurong Myanmar has secured its sixth
system has been suspended temporarily due to which are demarcated with either red, yellow or project to manage a jetty construction in
the outbreak of COVID-19, said Daw May Maw green lines. The hourly fees are also displayed Myanmar.Wilmar Myanmar Port Terminal
Thway, a Yangon City Development Committee on the signboards of each street corner. (Thilawa) Limited commissioned SJ Myanmar to
(YCDC) member. Availability of spaces can also be checked using oversee the construction of the extension of the
“We suspended the project due to health and the parking apps, and the streets will be Wilmar Jetty in Thilawa, Yangon. The project
safety reasons during the COVID-19 outbreak, monitored to check that drivers are parking aimed to include loading and barge platforms to
as people were supposed to volunteer for the correctly. the existing jetty structure. The upgrade
project. We’ll be able to resume the smart Parking officials will collect fees from motorists, enhanced the port terminal’s performance by
parking project only when the situation returns to including governmental vehicles, in six downtown enabling it to dock bulk carriers, oil tankers and
normal,” said Daw May May Thwal. townships in Yangon to reduce traffic congestion, even river barges.
The smart parking pilot project was scheduled to according to an announcement made by the Since 2017, SJ Myanmar has been working
run from March 22 to April 4, but was suspended YCDC on March 3. closely with various developers and contractors
after two days on March 24. The parking fee collection system was in the design and construction supervision of
The smart parking system was implemented in suspended under the U Thein Sein jetties, tank farms and related facilities. This
Lanmadaw, Latha, Pabaedan, Kyauktada, administration, and has been replaced by the recent win showed once again a strong
Botahtaung and Pazundaung townships. An current smart parking system. recognition of SJ’s competency in the oil and gas
expression of interest notice was issued earlier sector in Myanmar.
this year, and three companies out of a total of
26 were selected to take part in the pilot
programme.
The parking fees can be paid by cash or via an
online payment system. There are three ways to
pay for parking fees, by using the following apps: Source: Consult Myanmar
Parking Yangon app, and the Smart Source: Myanmar Times https://consult-myanmar.com/2020/03/31/sj-
Parking@Yangon and Flowbird apps. https://www.mmtimes.com/news/smart-parking- myanmar-secures-6th-contract-to-manage-jetty-
Fees range from K200 to K500 per hour project-temporarily-suspended.html construction/
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 10Infrastructure Energy
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Chinese consortium may avoid fines despite missing Grab says it pumped $100M into Myanmar in
emergency power deadline four years
04 Apr 2020 12 Feb 2020
Three projects totaling 900 megawatts that were due to begin producing power on April 3 – 210 Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
due to go live on April 3 remain weeks, possibly days after the consortium receive letters of US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
months, away from completion. But thanks to agreement from the Ministry of Electricity and the past four years to strengthen its position on transportation partners in Mandalay this year.
COVID-19 and the apparent absence of a signed Energy – or pay fines of K200 million a day for the local taxi market, a senior company official “Although food delivery is increasing locally, it
contract, the developers may avoid the heavy Thaketa, K180 million for Thanlyin and K30 said Tuesday. still lags behind other countries. We have many
fines. million for Kyaukphyu, a combined total of almost Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
YANGON — A Chinese consortium investing US$300,000 a day. company will continue investing to further GrabFood Myanmar.
US$800 million in emergency power projects However, the projects remain weeks and improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
may escape heavy fines for failing to complete its possibly months away from completion. When “Grab will emphasise service quality and safety, soon.
projects on time by claiming to have been Frontier visited the consortium’s Thilawa project not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
hampered by the COVID-19 global pandemic, site – from where liquefied natural gas will be continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
officials say. offloaded for use at both Thanlyin and Thaketa – to better the platform and expand the city, and Grab TaxiPlus service.
It is unclear whether the deadlines are even on April 2, there were few workers present and ecosystem.” More than 166 million people in 339 cities in
legally binding, one official told Frontier, as the key infrastructure, including the jetty, remained Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
consortium may not have signed a final contract incomplete. 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
with the ministry despite having already invested Ministry officials have previously insisted to service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
hundreds of millions of dollars in the projects. Frontier that they would fine the consortium if it Food. phones. – Translated
Following a controversial tender, three liquefied- missed the deadline, but that now appears in The company’s taxi service is popular and
natural-gas-to-power projects – a 400-megawatt doubt. experiencing an increase of 10 percent in daily
plant at Thaketa, 350MW plant at Thanlyin and rides in 2019 from the previous year, and adding
150MW plant at Kyaukphyu – were awarded in more than 196,000 more precise location points
September last year to a consortium comprising in the Grab application.
China’s state-owned China National Technical The number of businesses using Grab for
Import and Export Corporation and Hong Kong- Source: Frontier Myanmar Business doubled in 2019, and the most popular Source: Myanmar Times
listed VPower, with RGK+Z&A Group as a local https://frontiermyanmar.net/en/chinese- destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
partner. consortium-may-avoid-fines-despite-missing- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
Under the terms of the tender, the projects were emergency-power-deadline Grab will expand its services to other key cities more-pain-ahead-first.html
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 11Infrastructure Energy
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Power shift
09 Mar 2020
Energy is vital for countries seeking to power and Thailand's largest oil and gas explorer.
sustain economic growth. But as the world feels Among the fossil fuels that will still account for
the heat of climate change, the energy industry is almost 80% of total energy demand in 2040,
under pressure to undertake a major transition. natural gas is showing the highest growth and
Somehow, it must find ways to ensure that becoming a key to a clean energy transition, he
consumption can continue without interruption said at the Future Energy Asia 2020 forum in
but with far fewer negative consequences for the Bangkok last month.
environment. "More challenges are arising from oil-price
Rapid technological advances across a variety of volatility from geopolitical tensions, trade
industries, meanwhile, are enabling society's conflicts, shale oil production and even from the
quest for sustainability at an unprecedented coronavirus outbreak which has had such a
pace. The resulting transition is causing an significant impact on energy consumption as well
epochal shift in how the world's population as the global economy," he added.
consumes energy and natural resources. LNG is much cleaner than diesel and other fossil
Asia has far outpaced the rest of the world in fuels in terms of carbon emissions, said Alan
energy consumption to serve its rising prosperity. Lau, president director of PT Anglo Euro Energi
But a growing desire for cleaner air is pushing Indonesia and a member of the United Nations
demand for greener energy. Natural gas, mainly Economic Commission for Europe.
in the form of liquefied natural gas (LNG), is seen "However, according to some studies,
as one of the best options to serve the transition, processing LNG at processing plants still emits
say industry executives. 10% of carbon into the environment," he told
"One of the biggest challenges our industry is Asia Focus on the sidelines of the three-day
facing is the need to balance rising energy energy event.
demand, while reducing the environmental
impact from our carbon footprint," said Source: Bangkok Post
Phongsthorn Thavisin, president and CEO of https://www.bangkokpost.com/business/1874634
PTT Exploration and Production Plc (PTTEP), /power-shift
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 12Infrastructure Real Estate
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Construction contraction due to virus outbreak Grab says it pumped $100M into Myanmar in
four years
31 Mar 2020 12 Feb 2020
Industry insiders say that the country’s Many of the construction business owners Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
construction sector has slowed by around 30 spoken to said they are waiting for new US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
percent due to the COVID-19 pandemic. government tenders while also hoping that the the past four years to strengthen its position on transportation partners in Mandalay this year.
“There are construction projects that have been completion deadlines for current contracts will be the local taxi market, a senior company official “Although food delivery is increasing locally, it
suspended due to a shortage of imported loosened as efforts to stop the spread of the said Tuesday. still lags behind other countries. We have many
building materials and some have been stopped virus will also slow construction work. Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
temporarily due to cash flow problems. About “To operate the business while the workers in the company will continue investing to further GrabFood Myanmar.
70pc of projects are still running as usual. The projects are worried is not easy. Tenders need to improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
situation is not so bad yet,” Myanmar be completed on a deadline so we dare not stop “Grab will emphasise service quality and safety, soon.
Construction Entrepreneurs Federation (MCEF) projects. Everything may be okay if the not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
Chair U Shein Win told The Myanmar Times. government postpones deadline for completion,” continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
However, if the situation worsens or drags on MCEF general secretary U Myo Myint said, to better the platform and expand the city, and Grab TaxiPlus service.
longer than expected, more construction projects adding that transportation is being provided by ecosystem.” More than 166 million people in 339 cities in
may stop, he warned. companies so that workers don’t have to take Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
“Health is the most important thing. Construction public transport. 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
projects have to stop if the government calls a “The central bank has reduced interest rates but service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
halt on projects as a precaution to stop the it hasn’t changed the situation yet. Given the Food. phones. – Translated
spread of the virus,” said U Shein Win. current conditions, people are holding on to their The company’s taxi service is popular and
Workers are allowed to return to their hometowns money so there have been some delays in experiencing an increase of 10 percent in daily
if they want and construction projects are payment to construction companies. In the rides in 2019 from the previous year, and adding
operating with half their workforce on a rotational meantime, workers still have to be paid. To more than 196,000 more precise location points
basis, said U Ye Lin the head of the Danu San prevent job losses, the government has to take in the Grab application.
Yar Construction company. decisive action,” said U Myo Myint. The number of businesses using Grab for
“Like other types of businesses, construction Business doubled in 2019, and the most popular Source: Myanmar Times
companies are making their workforce work on a Source: Myanmar Times destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
rotational basis to preserve jobs and to keep the https://www.mmtimes.com/news/construction- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
business running,” U Ye Lin said. contraction-due-virus-outbreak.html Grab will expand its services to other key cities more-pain-ahead-first.html
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 13Infrastructure Real Estate
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
South Korean govt vows to see projects through in Winners and losers at the Thilawa SEZ
Myanmar
03
02 Mar
Apr 2020 02 Apr 2020
South Korea sees “immense potential” in them back on track,” he added. The Thilawa Special Economic Zone is one of roads in the country. Any driver who travels
Myanmar as the last frontier market in the In a recent interview, he spoke about South the country’s most successful projects, but some regularly between Thanlyin and the SEZ would
Association of Southeast Asian Nations (ASEAN) Korea’s coronavirus experience, the status of its relocated land users say they deserved better certainly agree.
under President Moon Jae-In’s New Southern investments, and three major projects led by his compensation. “Thanlyin also has the most developed and
Policy. country in Myanmar: IN THE middle of the Bago River between successful economic industrial zone outside of
Though the coronavirus poses an unforeseen What can Myanmar learn from South Korea’s Yangon’s Thaketa and Thanlyin townships, the the Yangon metropolitan area,” Phyo Min Thein
challenge for South Korean businesses here, experience with COVID-19? tall piers of a new Japanese-funded bridge are was quoted as saying by state-run daily The
they have confidence that the economic setbacks The South Korean government’s strategy slowly emerging. Global New Light of Myanmar on February 22.
would not last, South Korean Ambassador to consists of the three Ts – test, trace and treat – The existing 2.2-kilometre long bridge, which was In planning, implementation and management,
Myanmar Lee Sang-hwa said in a recent plus civic participation. built with financial and technical assistance from the Thilawa SEZ is regarded as one of the
interview. Robust testing is the core of our strategy. China between 1988 and 1993, is often heavily country’s most impressive success stories since
South Korea had the most confirmed COVID-19 Besides drive-through testing stations that allow congested, particularly during the morning and the transition to democracy began in 2011.
cases outside China in late February. However, specimen collection in less than 10 minutes even peak hours. Developed by a Myanmar-Japanese consortium,
by setting up hundreds of drive-thru testing without drivers needing to get out of their Scheduled for completion by the end of 2022, the the SEZ had five factories when its first phase
clinics across the country in a short period of vehicles, private hospitals also have walk- new bridge reflects the fact that Thanlyin is no was officially opened in September 2015. It has
time, it was soon able to bring the outbreak through testing stations where medical workers longer a sleepy backwater. This is largely thanks since grown to 117 investments from 19
under control. Now the number of coronavirus are protected behind clear acrylic panels as they to the Japanese-backed Thilawa Special countries and territories, said Daw Than Than
cases in South Korea has been surpassed by collect specimens from people. Economic Zone, which continues to expand, Thwe, joint secretary (1) of the Thilawa SEZ
several western countries. The government is vigorously tracking and making the old bridge a bottleneck of connectivity Management Committee.
“Aggressive and extensive testing” is crucial, Lee testing those who have been in contact with between the commercial capital and the zone. “There are 81 factories operating in the SEZ and
said. The drive-thru testing clinics helped confirmed cases, utilising credit card transaction But the new bridge is far from the only others are under construction,” Than Than Thwe
conduct up to 20,000 tests per day. The histories, CCTV footage, and mobile phone GPS improvement to Thanlyin’s infrastructure and told Frontier in late February. “Thilawa is
government then put the people who tested data when necessary within the scope of the connectivity. obviously a success story; we should keep it up.”
positive in isolation and treated them in a timely Infectious Disease Control and Prevention Act. At the opening ceremony for a new four-lane
manner to prevent further spread. Source: Myanmar Times highway between the bridge and the SEZ on Source: Frontier Myanmar
“As soon as we overcome this [challenge], we https://www.mmtimes.com/news/south-korean- February 21, Yangon Region Chief Minister U https://frontiermyanmar.net/en/winners-and-
will expedite all cooperation projects to bring govt-vows-see-projects-through-myanmar.html Phyo Min Thein observed it was one of the best losers-at-the-thilawa-sez
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 14Infrastructure Waste and Water
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Purity and Danger, on Yangon’s streets Grab says it pumped $100M into Myanmar in
four years
03 Apr 2020 12 Feb 2020
Mary Douglas’ 1966 book Purity and Danger to disinfect the roads in the hope of preventing Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
illustrates how human societies make sense of the spread of Coronavirus (COVID-19). US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
the world by classifying things as “dirty” and Public hygiene and COVID-19 the past four years to strengthen its position on transportation partners in Mandalay this year.
“pure”. Myanmar had no recorded cases of COVID-19 the local taxi market, a senior company official “Although food delivery is increasing locally, it
Dirt is not just soil on the ground or mud on our until an announcement by the Ministry of Health said Tuesday. still lags behind other countries. We have many
shoes, she argued. What we think of as “dirt” on March 24 – and that’s when things changed. Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
changes according to our culture, and over time. In her televised address to the nation State company will continue investing to further GrabFood Myanmar.
For example, in some Western households it Counsellor Daw Aung San Suu Kyi stressed the improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
might be acceptable to wear shoes inside the importance of hygiene in fighting COVID-19. A “Grab will emphasise service quality and safety, soon.
house, whereas Asian housewives will shudder video of her explaining “how to wash your hands” not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
at the thought of not leaving your boots outside was produced, and shared among Myanmar’s continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
the door. Likewise, spitting on the street is many millions of Facebook users. to better the platform and expand the city, and Grab TaxiPlus service.
tolerated in some countries, but elsewhere The streets were soon full of makeshift sinks, ecosystem.” More than 166 million people in 339 cities in
“hoiking a loogie” is considered gross and “dirty”. hooked up to municipal water supplies via Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
What is defined as “pure” and “dirty” can also Myanmar’s ubiquitous blue PVC piping. 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
change within a culture, depending on peoples’ Hand sanitisers appeared everywhere too – on service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
access to knowledge and practices around counters insides shops, beside lottery ticket Food. phones. – Translated
hygiene. displays and outside of monasteries. Inside the The company’s taxi service is popular and
Douglas argued that our definitions of “dirt” carry major shopping centers, security guards were experiencing an increase of 10 percent in daily
associations of danger, particularly when things even instructed to spray trolleys and baskets. rides in 2019 from the previous year, and adding
cross boundaries – between the dirty and the In a city where littering and spitting betel quid on more than 196,000 more precise location points
pure; between the outside and the inside; the the streets is common, the transformation has in the Grab application.
healthy and the sick. been remarkable. Peoples’ notions of “dirt” have The number of businesses using Grab for
A bit like a virus. changed. Business doubled in 2019, and the most popular Source: Myanmar Times
Such a reordering of boundaries seemed to be Source: Myanmar Times destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
taking place on the streets of Yangon this week, https://www.mmtimes.com/news/purity-and- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
as teams of volunteers worked with city officials danger-yangons-streets.html Grab will expand its services to other key cities more-pain-ahead-first.html
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 15Infrastructure Other Infra
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Pandemic adds to Chinese infrastructure delays in Grab says it pumped $100M into Myanmar in
Myanmar: ICG four years
30 Mar 2020 12 Feb 2020
The Covid-19 pandemic and resulting shock to addressing the fallout of the crisis, rather than Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
the economy are likely to ease pressure on pressing quickly ahead with previous plans.” US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
Myanmar to speed up China’s ambitious but “Certainly there is a perception in Myanmar that the past four years to strengthen its position on transportation partners in Mandalay this year.
slow-moving infrastructure programme, this is a ‘foreign virus’, but public attention is the local taxi market, a senior company official “Although food delivery is increasing locally, it
according to a new report by the International focusing much less right now on its origin in said Tuesday. still lags behind other countries. We have many
Crisis Group (ICG). China and much more on the risk of returning Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
The ICG noted that President Xi Jinping’s visit to Myanmar nationals bringing Covid-19 into the company will continue investing to further GrabFood Myanmar.
Myanmar in January, when the outbreak was in country,” he added. improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
its early stages, had already failed to secure the Mr Horsey noted that the first few cases “Grab will emphasise service quality and safety, soon.
major acceleration Beijing was hoping for in the identified in the country were people returning not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
multi-billion dollar China-Myanmar Economic from Europe and the United States, while large continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
Corridor (CMEC), which forms a core part of its numbers of Myanmar migrant workers are now to better the platform and expand the city, and Grab TaxiPlus service.
global logistics Belt and Road Initiative. coming back from Thailand. ecosystem.” More than 166 million people in 339 cities in
“Uneasiness and lack of capacity within the Key manufacturing, agriculture and tourism Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
Myanmar government, as well as political industries in Myanmar have been severely hit by 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
sensitivities around Chinese investment, mean the pandemic. Factories have been forced to halt service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
that this trend is likely to continue through at operations while farmers and fruit producers Food. phones. – Translated
least November 2020, when Myanmar is relying on the China market have suffered huge The company’s taxi service is popular and
scheduled to hold a general election,” the ICG losses. experiencing an increase of 10 percent in daily
says in its 45-page report, Commerce and Beyond the immediate economic disruption, the rides in 2019 from the previous year, and adding
Conflict: Navigating Myanmar’s China pandemic has derailed efforts by Daw Aung San more than 196,000 more precise location points
Relationship, released by the Brussels-based Suu Kyi’s government to boost investments and in the Grab application.
think tank on March 30. growth ahead of parliamentary elections in The number of businesses using Grab for
Richard Horsey, ICG Myanmar adviser and one November. Business doubled in 2019, and the most popular Source: Myanmar Times
of the report’s authors, told The Myanmar Times: Source: Myanmar Times destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
“Even once the pandemic eases, China and https://www.mmtimes.com/news/pandemic-adds- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
Myanmar will likely be focused for some time on chinese-infrastructure-delays-myanmar-icg.html Grab will expand its services to other key cities more-pain-ahead-first.html
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 16Infrastructure Other Infra
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Telenor follows Myanmar orders to block alleged ‘fake Five key markets in Yangon closed
news’ sites
31 Mar 2020 01 Apr 2020
Norway’s Telenor says it will follow Myanmar’s owned MPT, Qatar’s Ooredoo and military-run The Mingalar Taung Nyunt township COVID-19 “We give notice to the first offenders, and order
other mobile operators and comply with the Mytel operate in Myanmar. Prevention and Control Committee has instructed them to close. If they violate again, we will take
government’s order to block a list of “fake news” Telenor said it initially did not comply with the shops that sell clothing, shoes and non-essential action in accordance with law. Some shops
sites, including prominent ethnic media outlets, request to block sites in the category of “fake things in five markets to close, amid fears of an opened, yesterday and I myself had them shut
after initially refusing to do so. news” as it was unable to establish sufficient outbreak of the Coronavirus. The Mingalar down,” U Hla Htay said.
Myanmar has directed all four of its mobile legal basis for this part of the request. Market, Yuzana Plaza, Shwe Pyae Sone,
operators to block access to a total of 221 But the Norwegian company said that on March Mingalarmon Market and Shwe Mingalar Markets
websites, but it has not made a list of the sites 30 it had decided to block a further 67 sites, were mentioned in the order.
public or clarified the legal basis for the move. bringing the total to 221. Two cases of COVID-19 were recently reported
A senior government official was reported as “Telenor has assessed that the risk involved in in Mingalar Taung Nyunt, and the markets in the
saying the clampdown was linked to publication not following the directive as regards fake news vicinity are to close until April 9.
of fake news over the COVID-19 pandemic, but is likely to have wider implications in terms of Shops that sell foods, commodities and
the sites are said to also include adult content, servicing the public,” the company said, following medicines, however, are permitted to remain
child pornography as well as ethnic media outlets talks with the ministry. open, said U Hla Htay, regional assembly MP
such as Development Media Group and Article 77 of the Telecommunications Law allows from the Mingalar Taung Nyunt Township
Narinjara, both based in the restive state of the ministry to impose restrictions or bans in an Constituency No. 1.
Rakhine. “emergency situation” out of public interest. The He said these markets will reopen once the
The Ministry of Transport and Communications government has not explained what kind of situation has stabilised, and the period of the
initially issued a directive to the four telecoms emergency it is invoking or how it might extend to closures may be extended if necessary.
operators to block 207 specified websites under adult content or pornography. “It is a matter of national interest that we do this.
Article 77 of the Telecommunications Law, There might be some people who agree with
according to Telenor. On March 23 a further us,and others who don’t like it. But our focus is
directive was issued for the blocking of 14 more on the health of all citizens,” U Hla Htay said.
websites which the ministry accused of Source: Myanmar Times The street market in Mingalar Taung Nyunt was
disseminating misinformation, or “fake news”. https://www.mmtimes.com/news/telenor-follows- closed today, and restaurants have also been Source: Myanmar Times
There has been no public statement by the myanmar-orders-block-alleged-fake-news- instructed to operate on a takeaway only basis. https://www.mmtimes.com/news/five-key-
government or other operators. Telenor, state- sites.html Betel quid shops also have to close, he added. markets-yangon-closed.html
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 17Policy and Regulation
05 April 2020
18Policy and Regulation
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Myanmar enacts new insolvency legislation Myanmar aviation sector expected to become
profitable, but more pain ahead first
31 Mar 2020 27 Jan 2020
Myanmar enacted a new insolvency law on Resolving insolvency is also one of criteria Myanmar’s aviation industry is betting on a more tourist attractions in the future,” U Kyaw Nyein.
March 25, a month after receiving Parliament measured by the World Bank on its Ease of profitable future with the number of airlines now Air KBZ has also been expanding. Last year, it
approval. Doing Business Index. Although Myanmar raised reduced to half compared to 2017 and demand upgraded its fleet of planes and announced new
The new legislation will facilitate the government its ranking on the World Bank’s Doing Business for domestic air travel expected to catch up with destinations to Dawei , Kaw Thaung , Myeik,
in managing and dealing with cases involving 2020 Report to165th place out of 190 countries supply. However, they will have to swallow more Sittwe, Kyaingtong, Hkamti and Loikaw. its sister
insolvency in Myanmar and is expected to on the index compared to 171st place in 2019, losses in the short term before things get better. airline, Myanmar Airways International, added a
strengthen the business environment and draw resolving insolvency was one of the areas in There are currently five airlines in Myanmar, new Airbus A319 to its fleet, expanding its
more foreign investors to the country, which improvement is still much needed. down from ten three years ago. But even though capacity by 144 passengers.
“We are working on linking the Insolvency Law to The new law replaces the Yangon Insolvency Act there are fewer players now in the market, the Tanes Kumar, commercial director for Air KBZ,
the Myanmar Companies Online Registration so (1909) and the Myanmar Insolvency Act (1920). volume of passengers flying domestic remains said even though the new routes are not yet
that all registered companies in Myanmar are Quek Ling Yi, Partner at Dentons Myanmar, said below three million, according to government profitable, the main aim of adding new
covered by the law,” U Thant Sin Lwin, Director though, that the interpretation and actual data. destinations is to expand the airline’s network
General of the Directorate of Investment and implementation of the new law will have to be At those levels, demand is not sufficient to cover and connectivity. “This gives passengers more
Company Administration, said. guided by directives or notifications issued at a the industry’s losses, U Kyaw Nyein, CEO of options and allows employees to learn new skills
The law, which has 425 sections, includes later juncture. Golden Myanmar Airlines (GMA), told The for more expansion in the future,” he said.
recourse for micro, small and medium-sized But she noted that “in light of COVID-19, the Myanmar Times in a recent interview.
enterprises (MSMEs) and directives related to potential decline in market conditions and But profitability is possible in the years ahead,
cross border insolvency. consequent rise in bad debts may spur the making it a good time for the remaining airlines to Source: Myanmar Times
It aims to achieve nine objectives, including authorities to publish the guidelines and accelerate their plans for expansion to capitalise
https://www.mmtimes.com/news/myanma
compatibility between national law systems and notifications earlier than expected." on future demand, according to a 2019 report by
r-aviation-sector-expected-become-
commerce systems, effective management, the Centre for Asia Pacific Aviation.
predictability and fairness throughout the process Last year, GMA took delivery of a new aircraft, profitable-more-pain-ahead-first.html
of insolvency and providing support for MSMEs taking its current fleet of ATR-72s to three. “With
facing financial difficulty. It will also provide the additional seats, we can now fly daily
protection for local firms entering the Source: Myanmar Times compared to alternate days before. We will also
international market by building a framework for https://www.mmtimes.com/news/myanmar- extend our destinations to include more flights to
cross border insolvency. enacts-new-insolvency-legislation.html Dawei and Kaw Thaung, which could be potential
05 April 2020
PwC PwC Myanmar Weekly Business Intelligence 19You can also read
