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Myanmar Business News in Brief

Over 100 companies bid to provide stock services

Over one hundred companies have bid for licences to provide services at the upcoming Yangon Stock Exchange, the Securities and Exchange Commission said. The commission began inviting tenders on January 19 and the deadline ended on March 6. The commission has invited companies to bid for four types of licences – underwriters, dealers, brokers, and consultants. The winners of the licences are expected to be announced in mid-April. The stock exchange is scheduled to open in October, but many question whether it will be ready to open in time.

Airport security upgraded with Japanese help

The Ministry of Transport announced that airports in Yangon, Mandalay, Nyaung Oo, Heho, Thandwe and Dawei had their security and safety systems upgraded with bilateral Japanese assistance, Xinhua News Agency reported. Japan International Cooperation Agency donated equipment and vehicles worth over $12 million to the project.

Thai manufacturer ties up with Loi Hein

Thailand-based manufacturer of pharmaceutical and consumer products, Osotspa Co, and local conglomerate Loi Hein Co have formed a joint venture, Osotspa Loi Hein, to expand the Thai firm’s footprint in the ASEAN region. The JV firm will look after marketing, sales and distribution of all Osotspa beverages in Myanmar, especially the M-150 and Shark energy drinks, Thai media reported.

Malaysian firm to double soft shell crab production

Malaysia-based conglomerate Texchem Resources Bhd (TRB)’s food division said it plans to double its production of soft shell crab through a new project in Myanmar this year, Malaysian media reported. The firm is currently producing 800 tonnes of soft shell crab annually in Myanmar. The new project will be located in Labutta township in Ayeyarwaddy region.

H5N1 efforts aimed at chicken breeders and vets in Sagaing and Mandalay

Mandalay Region Livestock Breeding and Veterinary Department has asked veterinarians to educate farmers on early prevention, risks, and detection of bird flu, as well as teaching farmers culling techniques and biological containment, state-run media reported.  Thousands of chickens and quails have died in the latest outbreak, and there are more than half a million chickens and quails in the affected region. There have been checkpoints set up to contain the disease. H5N1 can affect humans, and has resulted in 375 confirmed deaths worldwide.

Japan to offer education, health aid in Kachin, Kayah

The Japanese government has announced health and education aid projects in Kachin and Kayah states, local media reported. Contracts were recently signed between Japanese Ambassador Tateshi Higuchi and officials from the states concerned.

Imphal-Mandalay bus service goes ahead

India is in discussion with Myanmar to start a bus service between Imphal and Mandalay and a joint technical survey was carried out in January to finalise the route alignment, India’s Minister of State for External Affairs VK Singh said, according to Indian media reports. He also said India, Bangladesh, Nepal and Bhutan are exploring the possibility of signing a sub-regional agreement on movement of motor vehicles.

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