ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Japanese beverage giant Kirin launched Independent probes for its Myanmar military partnership

  Japanese beverage giant Kirin has hired Deloitte Tohmatsu Financial Advisory to conduct an independent review of a Myanmar military-owned company with which it has multiple partnerships. Kirin faces international condemnation for its partnership as the Myanmar military stands accused of genocide against the Rohingya. On Friday, Kirin said it has appointed Deloitte to review the financial and governance structures of Myanma Economic Holdings Public Company Limited (MEHL), a conglomerate owned by the Myanmar military. The company said the review will determine the destination of proceeds from joint-venture businesses Myanmar Brewery Limited and Mandalay Brewery Limited “as a matter of urgency.” Kirin’s spokesperson told The Irrawaddy on Friday that apart from reviewing MEHL’s financial structure, Kirin is considering structural options for the joint-ventures as part of a review of their business relationship with MEHL.
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  The border trade volume between Myanmar and Thailand reached USD $ 2.7 billion in this financial year

  The trade volume between Myanmar and Thailand has reached US$2.71 billion in total with the Hteekhee land border accounting for the largest volume of trade, according to the official statistics of Commerce Ministry. Myanmar-Thailand border trade totalled $2.711 billion between 1 October 2019 and 29 May 2020, which included $1.95 billion in exports and $757 million in imports. These figures declined by $103.9 million compared to the same period of last year. The bilateral border trade hit $2.82 billion in last year.
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  Government mulls USD $ 24 million loan to help Myanmar National Airlines (MNA) to cover its operational expenses

  The government is considering a US$24 million bail-out plan to help Myanmar National Airlines (MNA) cover its operational expenses, U Win Khant, Permanent Secretary of the transport ministry, said during a Myanmar tourism forum on June 1. “The situation at MNA is pretty bad and the airline could require state protection to remain solvent," said U Win Khant. MNA is currently burning almost $4.8 million on average a month on operational expenses such as fuel, insurance and repairs. It has so far racked up $24 million in debt it has not been able to pay for over the past five months and is now asking the Ministry of Finance, Planning and Investment (MOPFI) for a loan.
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  Myanmar condemns the London-based Environmental Investigation Agency (EIA)’s last report on illegal teak exports to European Union through black market

  Myanmar’s Ministry of Natural Resources and Environmental Conservation has disputed the London-based Environmental Investigation Agency (EIA)’s latest report which claims illegal teak from Myanmar is being shipped to Europe through the black market. “All the teak we export is legal,” U Kyaw Zaw Oo, the deputy permanent secretary of the ministry, told The Irrawaddy. On May 28, the EIA report, “The Croatian Connection Exposed – Importing illicit Myanmar teak through Europe’s back door”, says traders are shipping illicit teak into Europe, avoiding import rules to acquire valuable timber for high-paying clients for use in luxury products, like yacht decking. Illegal teak from Myanmar is not allowed to be traded in the European Union under the EU Timber Regulation (EUTR) since 2013.
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  Myanmar will collaborate with Singapore-based Infrastructure Asia (Infra Asia) to advance the implementation of priority infrastructure projects under Myanmar Project Bank

  The Ministry of Planning, Finance, and Industry (MOPFI) will advance the implementation of priority infrastructure projects under the Myanmar Project Bank in collaboration with Singapore-based Infrastructure Asia (Infra Asia), said Daw Thway Thway Chit, director general of the Planning Department under the MOPFI. An agreement between the two parties was signed on May 27, under which the MOPFI and Infra Asia will jointly identify selected priority projects for potential private sector participation. Infra Asia was established by Enterprise Singapore and the Monetary Authority of Singapore to support infrastructure financing and development in the region. It aims to connect different parties and serve as a one-stop platform for the information exchange and sharing of best infrastructure practices in Asia. Such efforts will help regional governments better develop, finance and execute their infrastructure projects by leveraging on the expertise offered by its pool of partners comprising international companies and financial institutions.
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  Myanmar Government ditch 18 solar tender deadline by one month after telling investors

  The Myanmar government is expected to extend a solar tender deadline by one month after telling investors last Friday (May 29) that it had no plans to do so. In a June 2 email sent to potential bidders, Yangon-based law firm VDB-Loi said the Ministry of Electricity and Energy is in the final stages of approving an extension of the bid submission deadline. “It is expected that the MOEE [energy ministry] will announce an official extension within the next day [June 3] from 18 June 2020 to 17 July 2020,” the email, which was seen by this newspaper, said. The expected extension was confirmed by two industry sources, who declined to be named due to sensitivity of the matter. There was no immediate statement by the government.
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  The opening of the first airport in Myanmar’s Chin State delayed amid COVID – 19

  The construction of Falam’s airport in Chin State is complete and flights can start soon, according to the state government. Surbung Airport in Falam will be the first major airport in the mountainous state. “The runway, the control tower and the airport buildings are all complete. The test landing will take place this month. However, due to COVID-19 restrictions and the weather, we cannot say yet when the airport will begin full operations,” said U Shwe Thio, the state’s transport minister. The Department of Aviation said the airport was originally set to be fully operated this month but full operations were delayed by COVID-19 restrictions. “Since there are travel restrictions, the opening is being delayed and we cannot tell when the airport will begin its operations,” U Soe Paing, the director of the Department of Aviation, told The Irrawaddy. “It all depends on the COVID-19 situation and Union government decisions.”
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  The value of shares traded on the Yangon Stock Exchange (YSX) surges to Ks 1.2 billion in May 2020

  The value of shares traded on the Yangon Stock Exchange (YSX) in May rose to K1.2 billion with 200,416 shares being traded, according to the data released by the YSX. In January 2020, 196,836 shares worth K1.25 billion were traded on the exchange while 188,919 shares, with an estimated value of K1.48 billion, were traded on the exchange in February and 228,913 shares valued K1.42 billion were traded in March respectively. It touched the lowest of K902 million with 173,808 shares in April, the exchange’s monthly report showed. At present, YSX has shares of six listed companies — First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB), TMH Telecom Public Co. Ltd (TMH) and the Ever Flow River Group Public Co. Ltd (EFR).
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  PanAust, Australian miner received a new exploration license in Myanmar

  PanAust, an Australian incorporated company, has been granted a new exploration license in Myanmar. The Ministry of Natural Resources and Environmental Conversation on May 27 awarded PanAust with a new exploration license for the Wuntho 3 exploration block in Sagaing Region, located in the north-western part of Myanmar. The Wintho 3 block represents a 750 square-kilometre area in the highly prospective Wuntho Massif region.
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  The export value exceeded over USD $ 730 million in over seven months this year

  Export value, mostly from agricultural products, in over seven months of this fiscal year has exceeded over US$730 million compared to the same period of last year, according to the Ministry of Commerce. From October 1 to May 15 in the current 2019-2020 FY, export earnings reached US$11.239 billion while the same period of last FY saw US$10.508 billion. Myanmar mainly exports agricultural produce, livestock products, marine products, fisheries, mineral products, forest products, finished industrial goods and other items.